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Disappointed and Done with People's
February 18, 2023
12:10 pm
Qiutian
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semi-retired said

You must have a FI that can be linked to another FI. I have a Tangerine account that is linked to Peoples Trust. With Tangerine you can have 3 accounts linked to push funds out, or pull into. It does not cost anything. Other FI have different numbers of FI accounts you can link to.  

Very appreciated your sharing. I tried to link my Tangerine tp PT from Tangerine, however I don't think that the very simple e saving account number is my PT account number, first is two zero and then three number. In your experience, which one is account number for linking.

February 18, 2023
12:45 pm
HermanH
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Peoples Trust
Institution# 621
Transit# 16001

You are correct. My (internal) savings account number is 00201. That is the wrong number.

Click on your MyAccounts button.
Click on the account you wish to link.
Click on the More Details button (under the Account Activity menu.)
Your Account Number should appear. Mine is 15#####

February 18, 2023
12:49 pm
semi-retired
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Qiutian said

Very appreciated your sharing. I tried to link my Tangerine tp PT from Tangerine, however I don't think that the very simple e saving account number is my PT account number, first is two zero and then three number. In your experience, which one is account number for linking.  

My Tangerine account is linked to my Peoples Choice e Savings ac,on my statement this is a 6 digit number,no 0's at the beginning.Do you get a monthly statement mailed from PT?All your account #ers should be easy to find.Hope this helps.

February 18, 2023
1:17 pm
Qiutian
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semi-retired said

My Tangerine account is linked to my Peoples Choice e Savings ac,on my statement this is a 6 digit number,no 0's at the beginning.Do you get a monthly statement mailed from PT?All your account #ers should be easy to find.Hope this helps.  

No, I just got my account opened on Monday, and transfered money in successfully on Tuesday, and then I did the same thing transferred money in on Tuesday, then got a NSF, it didn't go through. So is there no way to find the account number in My Online Banking?

February 18, 2023
2:21 pm
Qiutian
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semi-retired said

My Tangerine account is linked to my Peoples Choice e Savings ac,on my statement this is a 6 digit number,no 0's at the beginning.Do you get a monthly statement mailed from PT?All your account #ers should be easy to find.Hope this helps.  

I got the account number when I check account activity. It's now 7 digit number. Thanks for your information.

February 21, 2023
6:11 am
NorthernRaven
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Let me add my vote to the many who would wish to consign Peoples customer service to one of Dante's lower rings. I've got some cash in a savings account, went online to purchase a GIC, and got an error message doing the purchase about "an account you are using is not active". I called customer service, waited the 20 minutes, after which it kicked me to "leave a message". But as soon as I started talking at the beep, it said it "didn't hear anything, try again", which failed as well. Called back and chose leave a message, same thing.

Given the horrible experiences I've been reading here, looks like it is goodbye, thanks for all the fish time for Peoples.

February 21, 2023
5:35 pm
mmlt
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I must have got lucky. Managed to create his/hers tfsa gic via 'opening account for existing customers' route. This was after trying to do it on phone and email with no success. Within a day or two they had it done.
Hopefully they stay afloat for a couple years.

February 26, 2023
5:41 am
Wanderer
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“Going forward, I notice that there is no capability to specify GIC maturity instructions online? Oaken does a great job in this regard - it's all done online. I hope I'm not going to have trouble in the coming months when my GICs mature and I definitely do not want them to renew. This level of lousy service is inexcusable. They have no messaging facility online either. For example, I had a question for Steinbach a few days ago. I logged in, fired off a message, and had a reply the next day. So simple and efficient. Most of the other FIs now have messaging ability. PT/PB and Ideal/Carpathia and a few others all use the same platform and it reminds me of software from the 1980's.”

I have all my GICs at PB as not being reinvested. I called to tell them that about all of them. They put me on hold for awhile until it was all completed. No problem. I do check and so far it’s working. No need to call each time to have them not reinvest.

February 26, 2023
5:53 am
dougjp
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Wanderer said
“Going forward, I notice that there is no capability to specify GIC maturity instructions online? Oaken does a great job in this regard - it's all done online. I hope I'm not going to have trouble in the coming months when my GICs mature and I definitely do not want them to renew. This level of lousy service is inexcusable. They have no messaging facility online either. For example, I had a question for Steinbach a few days ago. I logged in, fired off a message, and had a reply the next day. So simple and efficient. Most of the other FIs now have messaging ability. PT/PB and Ideal/Carpathia and a few others all use the same platform and it reminds me of software from the 1980's.”

I have all my GICs at PB as not being reinvested. I called to tell them that about all of them. They put me on hold for awhile until it was all completed. No problem. I do check and so far it’s working. No need to call each time to have them not reinvest.  

Agreed, I do the same with them, pre-arrange what to do when they expire.

The thing is, there is no way to see and confirm what those instructions got changed to until after they expire/renew. Also, letting them expire and then buying a new GIC online isn't an option for me because they are all in joint names, requiring "the phone call" if not renewed.

The main accomplishment of almost all organized protests is to
annoy people who are not in them.

October 19, 2023
5:34 am
kesa
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my newbie People’s experience:

a GIC matured and they rolled it despite instructions to the contrary.

a fund transfer out was not logged on the user side leaving me wondering what happened to it.

3 phone calls to fix/verify everything.

not a very good UI/UX.

October 19, 2023
9:27 am
Alexandra
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kesa said
my newbie People’s experience:

a GIC matured and they rolled it despite instructions to the contrary.

a fund transfer out was not logged on the user side leaving me wondering what happened to it.

3 phone calls to fix/verify everything.

not a very good UI/UX.  

I have a GIC maturing with them on Saturday the 21st. I called them around 10 days ago to have all funds go into my HISA.

What I have found each time with Peoples is that it always appears as though the funds got rolled over but the next day I'll see they did as instructed as the funds would indeed be in the HISA. I used to phone them about it, but now I just give them the day and then all's right with the world.

October 19, 2023
9:53 am
friskyib
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You can hit the odd CSR that is incompetent. But all in all they are pretty good.

When I set up a new GIC I always immediately follow up and call in and ask for:
Non registered GICs. - joint, pay interest annually, and mature to HISA. Joint option is a PITA with them as you have to get spouse involved.
Registered GICs. - pay interest annually, and mature to HISA.

How to confirm.
Joint - can be confirmed by seeing that the GIC shows in both logins
Maturity information - shows online and will say funds will not be available at maturity.
Pay interest annually - the day of expected interest requires a login in to verify.

As far as a GIC paying out to a HISA account, as much as they deny, usually shows up the day after maturity. But do make sure if the maturity date as shown on your account .... as March 25 issue date may become March 26 maturity date.

BUT WHAT YOU SAY, NOW MAKES SENSE! Perhaps it’s a manual process, just not done yet. And it has to roll first and then manually pay out the next day. I know it was like that at one of the Manitoba CUs that I dealt with because they were more communicative/knowledgeable than PT on this issue.

So if that is what they say....is it big deal?

October 19, 2023
12:36 pm
rodeworthy
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I have a GIC maturing soon at People's Trust. I know I phoned in to have the principal and interest transferred to our HISA account on maturity.

Checking the status of that GIC account under "More Details" reveals the following message:

PT-GIC-at-maturity.png
That seemed rather disconcerting so I phoned in. The CSR advised that message means the GIC will mature into a HISA account. That seems to be a loose translation. The CSR further advised they are aware of the confusion and have sent a request to their technical people to have it changed.

October 19, 2023
2:09 pm
friskyib
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rodeworthy said
I have a GIC maturing soon at People's Trust. I know I phoned in to have the principal and interest transferred to our HISA account on maturity.

Checking the status of that GIC account under "More Details" reveals the following message:

PT-GIC-at-maturity.png
That seemed rather disconcerting so I phoned in. The CSR advised that message means the GIC will mature into a HISA account. That seems to be a loose translation. The CSR further advised they are aware of the confusion and have sent a request to their technical people to have it changed.  

Right as I mentioned.
The message "At Maturity, principal and interest are not available" to roll over into an new GIC. <= That's how I read it!

Get used to it as it works and means what they say! lol. Accelerate had the same system and they are the ones that told me what that phrase really means.

This "old" CU system is being phased out, so were are lucky, as this is one of the only systems that confirm your wishes WITH OUT A PHONE CALL and it's there in black and white. Vs misinformation on phone that can become debatable.

This is an issue with the new Hubert as well...no indication of direction at maturity.

October 20, 2023
4:57 am
RetirEd
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...and of course there is the 10-day "oopsie" period. Peoples also highlights maturing items on their statements. If you bother to get them, that is!

RetirEd

October 21, 2023
9:32 am
Alexandra
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I'm happy to report that my GIC maturing today with Peoples Bank has indeed been put into my HISA.

When I went on-line for details yesterday it said "at maturity principal and interest are not available"

As I said before, I did phone them on 10 Oct 23 with the instruction to put funds at maturity into my HISA. I annotated my hard copy with that info also saying I talked with "Ronald". As I said before, sometimes I don't see the funds in my account until the next day. But today, there it is first thing this morning. sf-embarassed

October 21, 2023
2:17 pm
RetirEd
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Alexandra: Ronald's been there a while and he's rarely stumped by procedures or questions.

RetirEd

October 21, 2023
2:43 pm
Alexandra
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RetirEd said
Alexandra: Ronald's been there a while and he's rarely stumped by procedures or questions.  

That's nice to know RetirEd. I keep a spread sheet on all my bank deposits and GIC investments. So beside People's Bank, I put that notation until the funds get put in the bank account. And on my hard copy GIC "certificate", I do the same. The hard copies after maturity go into an"old" file for one year, then tossed.

The spread sheet helps so much in seeing everything at a glance.

October 21, 2023
6:42 pm
friskyib
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Alexandra said

That's nice to know RetirEd. I keep a spread sheet on all my bank deposits and GIC investments. So beside People's Bank, I put that notation until the funds get put in the bank account. And on my hard copy GIC "certificate", I do the same. The hard copies after maturity go into an"old" file for one year, then tossed.

The spread sheet helps so much in seeing everything at a glance.  

Good point!!! Why keep a matured GIC for ever. I have all my matured paper copy GIC's since day one!!

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