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Wealth One HISA increase
August 23, 2023
9:57 pm
Alexandra
British Columbia
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September 24, 2019
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I see Wealth One HISA is now at 3.65%

August 28, 2023
3:43 pm
lovejennifer
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September 16, 2022
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The GIC rates increased too. I see they actually have a 18 month term with 5.6%, but this site shows 5.1% on this page https://www.highinterestsavings.ca/gic-rates/. Someone may need to update that.

August 30, 2023
8:30 am
randy
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August 16, 2012
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these guys are an absolute nightmare to try to do business with, their rates are competitive but it is nowhere close to being worth the wasted time and aggravation!sf-yell

August 30, 2023
9:55 am
Nehpets
Ontario
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December 20, 2016
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randy said
these guys are an absolute nightmare to try to do business with.........  

Would you elaborate on what difficulty you encountered in your dealing with WOBC?

Stephen

August 30, 2023
10:30 am
HermanH
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April 14, 2021
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I also experience aggravation but, to be fair, they did allow me to cancel my 5-yr 2.88% GIC purchases after 4 months to re-purchase at a higher rate.

September 1, 2023
7:29 am
RetirEd
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November 18, 2017
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Why I left Wealth One:
-reneged on promise of free monthly statements
-$5 fee for ANYTHING mailed in hard-copy
-inconsistent ability to get phone service.
-their local rep was very helpful but customer service centre didn't back him up

RetirEd

September 2, 2023
8:53 am
AltaRed
BC Interior
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October 27, 2013
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There is another good reason to leave Wealth One as per G&M article ( behind paywall) https://www.theglobeandmail.com/politics/article-freeland-wealth-one-bank-shareholders/?utm_medium=email&utm_source=Breaking%20News&utm_content=2023-9-2_8&utm_term=Freeland%20imposes%20extraordinary%20measures%20to%20force%20out%20founding%20investors%20of%20Wealth%20One%20Bank%20with%20alleged%20ties%20to%20China&utm_campaign=newsletter&cu_id=Q8RvGKY792WRonw7uy%2BiXlsO6IS7G1%2Bu

The headline being "Freeland imposes extraordinary measures to force out founding investors of Wealth One Bank with alleged ties to China". The allegations are serious and the directives to ring fence this organization are unprecedented. Excerpt follows:

Finance Minister Chrystia Freeland has instructed three of the founding investors of Wealth One Bank of Canada to divest their shares, and has also ordered the financial institution to comply with extraordinary national-security conditions intended to firewall its operations against the trio, who have faced federal scrutiny over alleged links to the Chinese government.

The three men, Toronto insurance executive Shenglin Xian, Vancouver property developer Morris Chen and Toronto grocery tycoon Yuangsheng Ou Yang, were told in April to sell their shares in the bank. Wealth One has also been ordered to sever all ties with the three, and to put in place stringent security measures to guard against money laundering and unauthorized sharing of sensitive information.

Moderators may wish to cross-reference or re-locate this post here https://www.highinterestsavings.ca/forum/wealth-one/fintrac-imposes-676500-administrative-penalty-on-wealth-one-bank-of-canada/page-4/

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