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June 23, 2017
11:17 am
Atlas
Nunavut
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Found a reference to a promo code for an Oaken GIC rate + an additional 0.25% via RateSpy.

June 23, 2017
12:16 pm
Nehpets
Ontario
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Thank you for sharing the information:

Tip: You can get an extra 0.25% if you enter promo code OAKREF5454 in the comments section at the end of Oaken’s application.

June 23, 2017
2:49 pm
JenE
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I've just spoken with an Oaken Customer Care person and they confirmed that this IS NOT TRUE.

June 23, 2017
4:08 pm
Nehpets
Ontario
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JenE said
I've just spoken with an Oaken Customer Care person and they confirmed that this IS NOT TRUE.  

Conflicting responses..I just called and was told the promo is legitimate....I'll try it on Monday!

June 23, 2017
4:35 pm
JenE
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Verrry interrresting!

June 23, 2017
4:51 pm
JenE
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Nehpets, I just phoned again, 7:40 pm EST, and was told YES, the promo is being offered! I requested they give me the bonus .25% on the GIC I opened Monday. I expressed my disappointment that I hadn't received the usual email. I'll keep you posted!

June 24, 2017
7:26 am
Nehpets
Ontario
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JenE said
Nehpets, I just phoned again,  

Thanks for the update, Jen. Judging from the response I got, the people answering the phone just received the notification of the promo, so your earlier call may have been before the info was distributed.

Stephen (Nehpets is the forum username, spelled backwards, since the username Stephen was already in use) ...sf-smile

June 24, 2017
11:20 am
Cranston
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I emailed them to ask if it would apply to my last 2 GICs. In one of my last certificates there was an insert saying they gave me more but what I got was the same as what was posted.

I never received an email for the bonus.

Is this offer selective like Tangerine? Which I would find odd as they are usually good about giving any one the best rate possible and sometimes to a back dated purchase.

June 24, 2017
12:22 pm
Nehpets
Ontario
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Cranston said
I never received an email for the bonus.
Is this offer selective like Tangerine? 

It would be interesting to learn the origins of this promo and who is Oaken's promotional strategy targeting.

I didn't receive an email either, despite substantial holdings in Oaken GIC's.

The only source so far is the RateSpy article cited in Post #1, thanks to Atlas from Nunavut!

June 24, 2017
1:28 pm
JenE
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I wonder if an email is going to be forthcoming next week re increase in rate/bonus promo. Perhaps because of RateSpy we've learned about the increase early. I'd never heard of RateSpy until yesterday. Does anyone have any information about them?

June 25, 2017
8:45 am
toto
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I just bought a Gic with home bank and asked about promo code. They told me a third party posted the promo without their knowledge.
I am going to ask again on Monday as now it seems that people are getting it

June 25, 2017
2:07 pm
Norman1
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JenE said
I wonder if an email is going to be forthcoming next week re increase in rate/bonus promo. Perhaps because of RateSpy we've learned about the increase early. I'd never heard of RateSpy until yesterday. Does anyone have any information about them?  

I found this at the bottom of the April 2016 Globe & Mail article Which mortgage term will save you money over the next five years? about the author:

Robert McLister is a mortgage planner at intelliMortgage and founder of RateSpy.com. You can follow him on Twitter at @RateSpy

June 25, 2017
5:59 pm
JenE
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Thanks Norman1

June 26, 2017
5:20 am
gicjunkie
Ontario
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Just called Oaken. Got the .25% bonus with promo code. No problems.

June 26, 2017
9:13 am
Cranston
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Cranston said
I emailed them to ask if it would apply to my last 2 GICs. In one of my last certificates there was an insert saying they gave me more but what I got was the same as what was posted.

I never received an email for the bonus.

Is this offer selective like Tangerine? Which I would find odd as they are usually good about giving any one the best rate possible and sometimes to a back dated purchase.  

Here is the response.
Advised rate code would not apply to prior applications submitted and is only valid until June 30th, 2017.

Note, no mention of what the promo start date was.

It appears this code was selective and secretive and I feel quite slighted by Oaken as in the past they have been so upfront and willing to hold rates etc. Are they changing their reputation?

June 26, 2017
9:23 am
Nehpets
Ontario
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Cranston said
It appears this code was selective and secretive and I feel quite slighted by Oaken as in the past they have been so upfront and willing to hold rates etc. Are they changing their reputation?  

Thank you for that updated information, as I am in the process of moving some funds around to take advantage of the "promo".

It seems that secret promos are becoming the trend among financial institutions...are we surprised?

We lucked out on this notification, thanks to the Forum and a vigilant member!

June 26, 2017
9:27 am
Brimleychen
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I got them to apply to my new GICs (last Thursday / Friday) without problem this morning. Of course, if they don't, I still have chance to stop the cheque clearance.

Generally, I am happy.sf-laugh

June 26, 2017
9:49 am
Cranston
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So other than the reference by ratespy was anyone contacted directly by Oaken?

June 26, 2017
11:23 am
JenE
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I wasn't, Cranston. It would appear Oaken has moved in a different direction. Too bad, I liked them until now.

June 26, 2017
12:58 pm
toto
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Phoned today and got .25 added to the Gic I bought last Thursday.
They told me they put the request in and to call back in 24 hours to order the new certificate be sent.
3.5 for 5 years

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