Personal Finance

Looking For Feedbank On Manulife Bank High Interest Savings Accounts

  • Last Updated:
  • Jun 13th, 2012 8:17 am
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Jr. Member
Nov 30, 2007
134 posts
19 upvotes

Looking For Feedbank On Manulife Bank High Interest Savings Accounts

Anyone bank at Manulife. Looking for feedback with their high interest savings account.
6 replies
Deal Addict
Jul 8, 2009
2028 posts
482 upvotes
Edmonton
I've set up dozens of these for clients and it's just about the only one I use. I like them. The rate is competitive and I'm not interested in rate shopping or hopping around to get a few more basis points. It's easy to set up and administer. You have to set it up with a dealer then you can manage it entirely on your own by Internet or phone banking.
Jr. Member
Nov 30, 2007
134 posts
19 upvotes
Thanks, I actually plan to open a business savings and personal savings account. I have close to $35000 in my business account with one of the big banks earning close to zero interest. It would be nice to earn a bit of interest on that amount.


I was a little concerned after reading this thread:
warning-manulife-bank-ripping-off-manul ... rs-647071/
Deal Addict
Jul 8, 2009
2028 posts
482 upvotes
Edmonton
justice_guy wrote: Thanks, I actually plan to open a business savings and personal savings account. I have close to $35000 in my business account with one of the big banks earning close to zero interest. It would be nice to earn a bit of interest on that amount.


I was a little concerned after reading this thread:
warning-manulife-bank-ripping-off-manul ... rs-647071/

That thread is about Manulife One, a different product. Don't be concerned. I'm an advisor and these issues are important to me. I've opened lots of Manu Advantage accounts over the years and have had no more problems than with any company. Their service is good and the account is sound. Someone here will probably complain about rates, but the rates are compeitive, as I said, and I don't care about a little better rate. I had a client drop in last week to ask about Manulife Advantage and he went home to do some checking on rates and other particulars. He came into the office today to set up the account. Feel free to send me a personal message if you have questions, or post here.
Member
Jan 16, 2009
363 posts
55 upvotes
Vancouver
Wing Nut wrote: ...Someone here will probably complain about rates, but the rates are compeitive, as I said, and I don't care about a little better rate...

What do you mean "competitive"? They're a lot more than that, aren't they? I see Manulife Bank Advantage account paying 1.75%. Am I not correct that that is close to the highest rate available in Canada now?

I've just seen this rate on manulife.ca today. And wondering why RFD isn't talking about this place, and why people aren't clamouring to deposit there?
Deal Addict
Oct 14, 2004
1474 posts
438 upvotes
Toronto
I have the business advantage account. The only thing I didn't like about it was the time it took to get setup - about a month for me, but two weeks of that can be attributed to not having time to go and meet the advisor. I used to use ING, but changed as they were no longer competitive (and only seemed to be going down). I don't normally make a switch for every 0.1%, but when it gets to be 0.5%, then I certainly consider my options.

Everything is working great and I can download right into Quickbooks which makes it easier for me.
Member
Feb 25, 2009
300 posts
7 upvotes
Mirabel
James_TheVirus wrote: I have the business advantage account ... two weeks of that can be attributed to not having time to go and meet the advisor...
I would like to avoid the hassle of a sales pitch and save time as well. I cannot find this option on Manu's web site. I dont understand why something as simple as opening a TFSA account, at a large FI, cannot be done online ...

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