Oaken Financial profile, discussions, and reviews

Website: https://www.oaken.com
Headquarters: Toronto, Ontario
Parent company: Home Trust
Credit union? No
Available to Quebec residents? Yes
Founded in: 2013

Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.

Latest discussions about Oaken Financial -- view all

Forum/Topic Started Last post Posts

Oaken Financial

Oaken Financial rate decrease

September 2, 2016
8:57 am by
JenE
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November 25, 2016
7:13 am by
Bill
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4

Oaken Financial

Oaken GIC rate decrease Dec 1/2016

November 25, 2016
7:12 am by
NorthernRaven
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November 25, 2016
7:12 am by
NorthernRaven
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1

Oaken Financial

Oaken Vancouver

October 3, 2016
6:39 pm by
christinad
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October 4, 2016
7:49 pm by
Loonie
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9

Oaken Financial

Oaken interest

October 3, 2016
5:02 pm by
toto
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October 3, 2016
5:02 pm by
toto
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1

Oaken Financial

My heart is palpitating with excitement ..... Oaken update

July 27, 2016
10:33 am by
kanaka
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September 2, 2016
9:11 am by
kanaka
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27

13 Reviews »

  1. Customer service: Rated 1 / 5 stars

    Account features: Rated 1 / 5 stars

    Interest rates (consistency and amount): Rated 1 / 5 stars

    Fees: Rated 1 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: 4 months

    Why do you bank with them?: It was a mistake

    What do you like about this bank / credit union?: nothing

    What could be improved about this bank / credit union?: nothing

    General comments: nothing

    Review by Dean Mason — March 22, 2014 @ 5:58 pm

  2. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: 2o years with them including under their previous name

    Why do you bank with them?: Always received a better rate and service.

    What do you like about this bank / credit union?: Personal Service plus above.

    What could be improved about this bank / credit union?: ?

    General comments: I have banked over many years with all the Major Banks and Credit Unions and never received such consistently high Interest Rates nor Personal Service.

    Review by Brian Norris — May 14, 2014 @ 3:31 pm

  3. Customer service: Rated 2 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 4 / 5 stars

    Fees: Rated 4 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: I attempted to bank with them 6 weeks ago, but they don't have my money.

    Why do you bank with them?: I wanted to bank with them because their GIC interest rates were the highest, and their GIC's are insured up to $100,000 (total investment amount).

    What do you like about this bank / credit union?: Their interest rates are excellent with respect to what other banks pay.

    What could be improved about this bank / credit union?: They could make it easier to bank! I printed out the online form and filled it out, checking for mistakes, and mailed it along with three checks for $25,000 each. A week later, I got a phone call from Oaken. The guy said I wrote down the wrong interest rates for the three accounts I wanted. That struck me as odd, because I triple-checked my form and thought I'd put down the right amounts--the interest rates quoted plus the extra bonus they promised if I bank with them in the next couple weeks or whatever. A couple weeks later, I received three GIC certificates from Oaken. A couple more weeks later, I noticed that the three checks hadn't been cashed. I phoned Oaken again. The guy said there were two reasons I didn't have my GIC's. One, I'd "created" (his word) my own interest rates. Really? I said that I'd received a phone call about the "correct" rate and had okayed it. Second reason, the address on my check wasn't the same as the bank's record of my address. In fact, I'd crossed out my old address and written in my new one--a practice my bank was fine with until recently (and still allows my husband to do). The crossed-out address was the one my bank had as my former address; the hand-written address was the one my bank now has on file. So, I asked, was the problem that I'd hand-written my current address? Yes, the guy said, and lectured me that the form said it wouldn't accept a hand-written address. Funny, I read that form over carefully and understood it to mean that the address on my checks had to match the address the bank had--and I believe I met that standard. I thought the guy was arrogant and condescending, treating me as if I were stupid. I'm not stupid, in fact, nor am I arithmetic-challenged. But suppose I were? Don't people unnerved by math and banking and without advanced educations deserve respect too? Who the ***whatever does this guy think he is, talking to a potential customer like that? I can still buy my GIC's at the rate quoted on my certificates if I act in the next three weeks. I'm debating the wisdom of doing that.

    General comments: If I decide to proceed with investing with Oaken, I'll go in person to their downtown Vancouver office, which is over an hour away from where I live.

    Review by Carol Read — November 26, 2014 @ 12:02 pm

  4. Customer service: Rated 1 / 5 stars

    Account features: Rated 1 / 5 stars

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.):

    How long have you banked with them?: I have phoned them twice in recent months to have a application mailed out.

    Why do you bank with them?: I have never received the application

    What do you like about this bank / credit union?: I guess they don't want my investment of +100k

    What could be improved about this bank / credit union?: Answer the phone, send out applications as they are needed to people that ask for them

    General comments: Nothing else to say

    Review by Mark Lawrence — January 18, 2015 @ 5:41 pm

  5. Customer service: Rated 2 / 5 stars

    Account features: Rated 4 / 5 stars

    Interest rates (consistency and amount): Rated 3 / 5 stars

    Fees: Rated 2 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars

    How long have you banked with them?: 2 years

    Why do you bank with them?: rates

    What do you like about this bank / credit union?: not much but rates

    What could be improved about this bank / credit union?: responsible executives to answer questions and quickly solve simple problems.

    General comments: keep rates up and quickly solve problems

    Review by Jim Williamson — February 28, 2015 @ 8:00 am

  6. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: IJUST STARTED A HIGH INTEREST SAVINGS ACCOUNT TO DEPOSIT MONEY FOR A TFSA AND TO BUY GIC'S

    Why do you bank with them?: THE INTEREST RATES, the efficiency of the person who took my information.

    What do you like about this bank / credit union?: THE WOMAN ON THE PHONE IS EFFICIENT, AN E-MAIL WITH THE DETAILS WAS SENT FORTHWITH WITH THE CORRECT info. SO FAR EVERYTHING IS SMOOTH AND SWIFT, WE'LL SEE ABOUT THE REST

    What could be improved about this bank / credit union?: I do not know yet.

    General comments: Hopefully the accounts will be set up efficiently without trouble. Any problems, I'll scrap the whole set up and find another venue or investment.If they can connect with my TD accounts and am able to easily transfer funds back and forth, WOW.If not, forget the whole idea

    Review by STANLEY COHEN — April 25, 2015 @ 5:27 am

  7. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 4 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: 1 month

    Why do you bank with them?: Interest rate was appealing. Enjoy transferring money within hours between my savings oaken and chequing credit union

    What do you like about this bank / credit union?: Great transfer speeds both ways, customer service was great, 0 fees

    What could be improved about this bank / credit union?: little higher savings rates

    General comments: none

    Review by ken — October 7, 2015 @ 5:34 pm

  8. Customer service: Rated 1 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: 2 years

    Why do you bank with them?: higher interest rates

    What do you like about this bank / credit union?: not much

    What could be improved about this bank / credit union?: train their front line staff better

    General comments: They dont seem to care for a customer's needs

    Review by Yusuf — November 22, 2015 @ 4:25 pm

  9. Customer service:

    Account features:

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.):

    How long have you banked with them?: several years now

    Why do you bank with them?: great rates and very easy to do online banking with

    What do you like about this bank / credit union?: great service,online phone help is great

    What could be improved about this bank / credit union?: maybe have a mortage and trust division

    General comments: excellent,there always trying to give you the best competitive rate

    Review by John — December 14, 2015 @ 11:50 am

  10. Customer service: Rated 4 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 4 / 5 stars

    How long have you banked with them?: couple of months

    Why do you bank with them?: interest rates, their HQ is in close proximity to where I live (Toronto)

    What do you like about this bank / credit union?: I really like it. I might have to switch banks because I need a TFSA savings account... only downside

    What could be improved about this bank / credit union?: TFSA savings account

    General comments: Really Like Oaken, I have nothing but positive things to say about my experience

    Review by Brandon — January 24, 2016 @ 6:31 pm

  11. Customer service: Rated 1 / 5 stars

    Account features: Rated 1 / 5 stars

    Interest rates (consistency and amount): Rated 4 / 5 stars

    Fees: Rated 4 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: More than 2 years

    Why do you bank with them?: It was a big mistake

    What do you like about this bank / credit union?: nothing. they are just a joke

    What could be improved about this bank / credit union?: Train their staff. make them more professional than being robots.

    General comments: If you want to bank with a totally unprofessional institution that doesnt care about its customers Oaken should be your choice. Or else please look elsewhere.

    Review by Anand — February 26, 2016 @ 7:59 am

  12. Customer service:

    Account features:

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.):

    How long have you banked with them?: No experience to date

    Why do you bank with them?: n/a

    What do you like about this bank / credit union?: n/a

    What could be improved about this bank / credit union?: public posting of credit ratings assigned by the rating agencies

    General comments: I have a few million to invest - but not at the interest rates provided by Canada's chartered banks. Oaken's GIC rates are attractive, but higher risk typically comes with higher returns. I have requested info on credit ratings assigned to Oaken by the rating agencies such as Standard and Poor and Moody's -no response so far. Anyone know how to contact the rating agencies for the rating assigned to Oaken?

    Review by Richard Leigh — May 30, 2016 @ 9:30 am

  13. Customer service: Rated 1 / 5 stars

    Account features: Rated 4 / 5 stars

    Interest rates (consistency and amount): Rated 4 / 5 stars

    Fees: Rated 3 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: Wanted to peen account

    Why do you bank with them?: High interest rate

    What do you like about this bank / credit union?: I do not like them at all

    What could be improved about this bank / credit union?: this bank need to improve their knowledge staff not to treat client as criminal when they want to put money with them

    General comments: I open up account on line and it took the 2 weeks for them tocontact me. When they contacted me they told me I need to sent in my documents as driver licence and utilities bill which my name on it so I did. Then took them 3 days later and told me now that is not good enough. I need to go to lawyer or any profession who know me to verify who I am. They give such a hassle and headache. I am giving them my money why are they treated me as a criminal and hassle

    Review by Shawna — August 22, 2016 @ 7:06 am

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