Expired Hot Deals

[Manulife] Manulife Bank Advantage Account 1.5% with end of 3.35%/3.25% promotional period ***Updated July 17, 2019***

  • Last Updated:
  • Aug 16th, 2019 1:56 am
[OP]
Newbie
Aug 4, 2018
54 posts
190 upvotes

Manulife Bank Advantage Account 1.5% with end of 3.35%/3.25% promotional period ***Updated July 17, 2019***

Retailer:
Manulife
Deal Link:https://client.manulifebank.com/edo/#/p ... ID=DSP2019
Expiry:July 15, 2019

Retailer:Manulife Bank

"3.25% promotional rate is for a new personal, non-registered, Canadian-dollar Advantage Account. "
"It’s Canada’s most useful savings account, according to The Globe and Mail, and there’s no monthly fee. "
"
Plus
High everyday rate of 1.50% after the promotional period
Free banking and unlimited transactions with a minimum balance of $1,000
No monthly service fees, no minimum deposit and no withdrawal restrictions
Access to more than 3,700 ABMs across Canada with THE EXCHANGE® network
Online & mobile banking to manage your money anywhere, anytime
"
Image
"Click here for full Terms and Conditions and for our current rates visit manulifebank.ca/rates " or read the following :

"
[quote]Advantage Account is offered through Manulife Bank of Canada. Manulife Bank, Manulife Bank & Stylized M Design, and Stylized M Design are
trademarks of The Manufacturers Life Insurance Company and are used by Manulife Bank under license.

3.25% Advantage Account Promotional Offer
Terms and Conditions
Manulife Bank’s 3.25% Advantage Account Promotional Offer (the “Offer”) is available to Manulife Bank
Advantage Account clients (“Eligible Account Owner(s)”) who open a new personal non-registered
Canadian-dollar Advantage Account (“Eligible Account”) between April 30, 2019 and July 15, 2019 (the
“Offer Period”) using an exclusive URL or applying through an authorized Manulife Bank representative.
To qualify for this offer, a new application for an Eligible Account must be received and accepted by
Manulife Bank during the Offer Period. Each Eligible Account Owner can take advantage of this offer by
making Eligible Deposits as defined herein to their Eligible Account during the Promotional Period. The
Offer is limited to one Eligible Account per Eligible Account Owner.
Manulife Bank’s 3.25% Advantage Account Promotional Offer, which is currently 3.25% (“Promotional
Interest”) is made up of the regular posted variable annual interest rate of 1.50% (“Regular Rate”) and
the variable annual promotional rate of 1.75% (“Promotional Rate”). Any change to the Regular Rate will
result in a corresponding change to the Promotional Interest. For example, if the Regular Rate of 1.50%
were to decrease to 1.40% the Promotional Interest would decrease to 3.15%. Subject to the limits and
qualifications outlined in these terms and conditions, Manulife Bank will pay the Promotional Interest on
net new deposits (funds not currently held in a Manulife Bank account) made during the Promotional
Period, up to a cumulative total of $500,000 (“Eligible Deposits”) into your Eligible Account during the
Promotional Period. Any balance in excess of Eligible Deposits will earn interest at the Regular Rate.
The Promotional Interest will be calculated daily and paid monthly beginning on the date of application
and continuing 182 days (“Promotional Period”) on Eligible Deposits made during the Promotional
Period. Any withdrawals from the Eligible Account during the Promotional Period will be subtracted
from the Eligible Deposit balance. The account must have a positive balance to be eligible for the Offer;
any deposits required to bring the account balance to zero are not eligible. Promotional Interest is
calculated daily on the Eligible Deposit balance and paid monthly as two separate interest payments:
the first calculated using the Regular Rate, the second calculated using the Promotional Rate. Eligible
Accounts must remain open and in good standing in order to receive Promotional Interest. After the
Promotional Period, all deposits will earn interest at the Regular Rate.
Manulife Bank reserves the right, in its sole discretion, to suspend, disqualify, limit or revoke the Offer
to any person or Eligible Account Owner(s) it finds or believes to be manipulating or otherwise abusing
the process, fairness, integrity or operation of the Offer. Manulife Bank also reserves the right to,
without prior notice, cancel this Offer and/or modify or vary these terms and conditions, in whole or in
part, at any time and for any reason at its absolute discretion. This Offer cannot be combined with other
promotional rate offers. If Manulife Bank is unable to run the Offer as planned for any reason, including
infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any
other causes beyond the reasonable control of Manulife Bank which corrupt or affect the
administration, security or proper conduct of this Offer, Manulife Bank reserves the right at its sole
discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in
any way.
All rates are as at April 30, 2019 and subject to change without notice.
The Promotional Interest is an annualized rate.[/quote]
"


Additional information about the offered Manulife Bank Advantage Account compiled from commonly recurring post-reply Q&A :

Summary: "No monthly service fees" at ANY balance =/> $0 while every "Account balance" dollar earns the highest interest for an "unlimited chequing account" that has "no charge" on all Deposits, Pre-authorized Withdrawals(PAPs), Exchange ABM Withdrawals, Writing cheques and fund transfers in/out with External Account Link(s) (pre-set here).
Other debit transactions like Interac e-Transfer withdrawals and payments(debit card and bill) require maintaining a minimum balance of $1,000 to waive their $1 fees and likewise be all unlimited free withdrawals from the "Available balance".

[Reproduced FAQ findings from @archonz sib dig...]
[quote]Can my client have more than one eligible account?
No, the offer is limited to one account per client. If it is a joint account, the account is considered the primary
account holder’s eligible account. The secondary account owner would still be able to have another account as
eligible as long as either the account is an individual account or they are the primary account holder
.[/quote]

[Thanks to @profile post #563 for first sharing troubled Manulife Bank call experiences opening a joint account and @goodzyk post #705 for sharing the e-mailed process to open joint Advantage Account(s) by joint applicants finding a Manulife Financial Advisor(click here) to do it or by all together calling Manulife (contact here) after primary and secondary owners opened separate accounts. "Now please note that if you or your joint account holder gets put on manual review when set up online, you will have to wait until both accounts are off hold and active", although from later post-replies here its apparent completion by manual ID/credit check might be expedited by calling them ready with up to date proof identifying applicants.]
[quote]Do existing clients need to open a new Advantage Account to benefit from the 3.25% offer?
Yes, for existing clients who want to benefit from the 3.25% they will need to open a new Advantage Account.
If an existing client wants to open a new account the easiest method is for them to sign in to their online banking
and click the ‘Open a New Account’ option on the left-hand side. This is an express application that will pre-populate
all of their existing client info, including their financial advisor.[/quote]
[Note that you can "sign in" directly through that Dealer Link:https://client.manulifebank.com/edo/#/p ... ID=DSP2019 when you choose "Yes. log me in" if "Already have an account here and bank with us online", which Manulife T&C decided facilitating this be available for everyone to presumably appreciate also their existing loyal banking customers be kept happy depositing anew.]
How will clients know if they are receiving promotional interest?
Clients can view their promotional interest rate through online banking under account details. Promotional interest
will appear as a separate month-end transactions which can be viewed anytime using online or mobile banking as
well as on the client’s account statements.

For Manulife answers to frequently asked questions go to: https://www.manulifebank.ca/support/about-us/faq.html
For Manulife Bank, the institution number is 540 and the transit number is 05012. If you need your account number, you can find it on the Accounts page.
Better still - if you need a void cheque, you can print one off from the left-hand menu after you've logged into our online banking site.
If you have questions about your transaction limits or need to exceed that limit, please contact us and we'd be happy to help.
[E.g., Do one shot quick transfer rather than do multiple transfers each within their $50,000 EFT limit per transaction via Manulife Bank.]
For Manulife mobile banking app HOW-TOs go to: https://www.manulifebank.ca/support/cus ... w-tos.html
Deposit a cheque anywhere, anytime by taking a photo or by Finding ABMs on the go with Manulife Bank mobile banking app
"Deposit personal, business, government, convenience and counter cheques, as well as money orders – each with a maximum value of $100,000"
For an overview on the standard hold policy, what transactions are all free or "no charge" with chequing balance of $1000+, what are free below $1000 and what are not free , click here for the Manulife Bank Services and Fees Guide.

You may also wish to "search" for other Manulife promotion(s) perhaps through your Manulife financial advisor and confirm any personal offer(s) currently available to you like the previous targeted ones this year :
If you are "Manulife Group Benefits and Group Retirement Plan member" then "congratulations - you’re eligible" as per @manulifebank for this group's 3.35% promotional offer applying over here that expires May 15, 2019 July 15,2019.
"As a George Brown College alumnus, you can now take advantage of promotional offers that could put a little more money in your pocket with Manulife Bank" and be also eligible for that alumni's 3.35% promotional offer applying over here that expires May 15, 2019 July 15, 2019.


More Disclaimers: For at least six months Manulife Advantage Accounts could steal liquid day to day money from "direct deposits" waiting in Big Banks' and its affiliates' low interest legacy chequing accounts while it help grow fintech service innovation challenging competitors Alterna Bank, EQ Bank and other chequing-HISA hybrids in the future.
Last edited by U08052018 on Jul 17th, 2019 7:59 am, edited 5 times in total.
Thread Summary
manulifebank wrote:
May 21st, 2019 9:03 am
Hi everyone! I represent Manulife Bank and just wanted to jump in to clear up a few things.

We’re thrilled with the excitement generated with our offers. We’ve noted some questions in this forum that we thought we could help with.

The 3.35% promotional offer is reserved for Manulife Group Benefits and Group Retirement Plan members. If you have an existing Group Benefits or a Group Retirement Plan with Manulife, congratulations - you’re eligible! If you’re not an existing member, we currently have a 3.25% offer available. You can apply here. Terms and conditions of the offer are available here.

Not only do you get a fantastic rate with our Advantage Account, but you also get the flexibility of a chequing account, free unlimited daily banking transactions when you keep at least a $1,000 balance and easy withdrawals at over 3,600 bank machines that are part of the Exchange Network.

We want to thank those of you who spoke positively about Manulife Bank. If you still have questions or you’d like more information about Manulife Bank, feel free to review our fact sheet.

Visit manulifebank.ca or contact us to learn more.


For Manulife answers to frequently asked questions : https://www.manulifebank.ca/support/about-us/faq.html
For Manulife mobile banking app HOW-TOs : https://www.manulifebank.ca/support/cus ... w-tos.html
Find ABMs on the go with our mobile banking app

Link your accounts to another financial institution.
Click “Link an External Account” under “Transfer Funds” in the left menu
Complete all fields
Attach an image of a void cheque or pre-authorized debit form
Click “Next”
Review agreement and click "Agree"
Your account information has been successfully submitted.

What is my branch number?
Excellent question! For Manulife Bank, the institution number is 540 and the transit number is 05012. If you need your account number, you can find it on the Accounts page.

Better still - if you need a void cheque, you can print one off from the left-hand menu after you've logged into our online banking site.

What is my daily ABM withdrawal limit?
Here are the default daily limits for different transaction types:

• ABM withdrawal: $1,200/day
• Point of Sale (POS) transactions: $3,000/day
• Outgoing transfers: $50,000
• Interac® e-Transfer: $3,000/transfer, $3,000/day, $10,000/week, and $20,000/month

These apply to most people, however, there are situations where individual limits may be different. Our limits are in place for your protection and to comply with regulations.

What is my daily point-of-sale purchase limit?
You can make up to $3,000 of retail store purchases with your card each day. Happy shopping!

For Interac e-Transfer transactions only :
How much money can I send?
Sending money Limit
Minimum per transfer $10
Maximum per transfer $3,000
24 hours $3,000
7 days $10,000
30 days $20,000
How much money can I receive?
Receiving money Limit
Minimum per transfer n/a
Maximum per transfer $10,000
24 hours $10,000
7 days $70,000
30 days $300,000

For an overview on the standard hold policy, what transactions are all free or "no charge" with chequing balance of $1000+, what are free below $1000 and what are not free , click here for the Manulife Bank Services and Fees Guide.

Summary: "No monthly service fees" at ANY balance =/> $0 plus has "no charge" on deposits, pre-authorized payments(PAPs), Exchange ABM Withdrawals, cheque withdrawals and fund transfers in/out with External Account Link(s). Other debit transactions like Interac e-Transfer withdrawals and payments(debit card and bill) need a minimum balance of $1,000 to waive their $1 fees and be free. No charge on dormant accounts with balances below $100 if 2, 5, and 9-year notices acknowledged within 60 days, otherwise it's $20.

Manulife FAQ advise calling "1-877-765-2265 Mon-Fri8AM-8PM/Sat-Sun9AM-5PM to also open a joint Advantage Account [without finding an advisor to help], order cheques the first time or certified, forgot PIN/lost/stolen/unlock card, or close account";
moreover, "call or send an email with your current email, name, and account number to mybank@manulife.com to have a current hold reviewed" especially on the "push"/direct deposit/e-Transfer in amount showing "arrived".

Until the despair of pervasive rate drops recently, was un-"motive"ated by my first&last deal post and debated long time what little group benefit service to RFD members for this OP if no one else valued posting it first. Though old post-replies showed this highest interest on a chequing account idea less popular to all more used to offers opening separate chequing and savings accounts everywhere (except itself and EQ), still expected more keen RFD originators would sooner share it like its previous posted promotions. Since then shocked that this current Manulife promotion web link (secret or not) moved now to the first page and the top on my "accidental" google search of it again much later.

Limits on transfers in: $100,000 per cheque, $50,000 per "pull" transfer from other banks (unless you call in and get it approved).
June 18: Terms changed to say $100,000 maximum receiving the bonus interest rate instead of $500,000. Assumed that accounts opened earlier are grandfathered at the old limit, but unconfirmed as yet.
1095 replies
Deal Addict
User avatar
Dec 4, 2007
3437 posts
1174 upvotes
Quebec
I have read everything and couldn't find if we have yo stay with them more than the 6 months. Also, if the promotional rate portion is paid at the end of the 6 months only and the standard rate is the one that are calculated daily and paid monthly.
Member
Oct 8, 2006
467 posts
235 upvotes
Okanagan Valley
HyperTech wrote:
Apr 27th, 2019 10:57 am
I have read everything and couldn't find if we have yo stay with them more than the 6 months. Also, if the promotional rate portion is paid at the end of the 6 months only and the standard rate is the one that are calculated daily and paid monthly.
Quote from terms - Promotional Interest is calculated daily on the Eligible Deposit balance and paid
monthly as two separate interest payments: the first calculated using the Regular Rate, the second
calculated using the Promotional Rate. Eligible Accounts must remain open and in good standing in
order to receive Promotional Interest. After the Promotional Period, all deposits will earn interest at the
Regular Rate.
Deal Addict
User avatar
Jan 24, 2007
2464 posts
318 upvotes
North York
Sounds interesting, any comparative rates around from other institutions?
Mehboob Sheriff, Broker
Verico C.O.D. Financial Services Inc., Brokerage, Lic 10311
Jr. Member
Aug 29, 2010
189 posts
143 upvotes
Not bad.. I might be jumping into this deal. Anyone had any experience with Manulife? I thought of it as only benefit/group savings provider, never knew they do banking too..
Member
User avatar
Jan 13, 2017
231 posts
133 upvotes
Toronto
Are they a safe and reliable bank to park money in for 6 months? How is the app and general customer service?

How would one transfer money from another financial institution such as BMO or TD to this bank safely?

Are all deposits insured by CDIC up to $100k?

Looks like the promo and regular interest rate is paid monthly. No restrictions saying you have to stay with them past the 6 months is there?
Deal Addict
Jan 29, 2017
1572 posts
1096 upvotes
sheriffabc wrote:
Apr 27th, 2019 11:16 am
Sounds interesting, any comparative rates around from other institutions?
This would be the top as far as I know. DUCA has 3% until Jan 31 2021 and HSBC 3% until September.
Deal Addict
Jul 3, 2006
1918 posts
539 upvotes
Your savings are safer because we’re CDIC members
Manulife Bank of Canada and Manulife Trust Company are members of the Canada Deposit Insurance Corporation(CDIC). That means your eligible deposits with us are insured up to a maximum of $100,000 (principal and interest combined) in each of seven categories. The categories – every one of which is separately entitled to up to $100,000 in protection – include:


Deposits held in one name
Deposits held in more than one name (e.g., in a joint account)
Deposits held in an Registered Retirement Savings Plan
Deposits held in a Tax Free Savings Account
Deposits held in a Registered Retirement Income Fund

Eligible deposits that we offer include:


Advantage Account (Canadian dollar)
Business Advantage Account (Canadian dollar)
Guaranteed Investment Certificates
TFSA
RRSP
RRIF
Investment Savings Account

The premiums we pay to the CDIC ensure that you will be reimbursed up to the maximum if a member institution fails. You don’t have to apply for deposit insurance – eligible deposits held with us are automatically protected.

Find out if your savings are protected using the CDIC’s Deposit Insurance Estimator. For more information about deposit insurance, visit www.cdic.ca.

Only deposits held in Canadian currency, having a term of five years or less and payable in Canada, are eligible to be insured under the Canada Deposit Insurance Corporation Act.
CDIC
Deal Addict
Jan 29, 2017
1572 posts
1096 upvotes
rendered22 wrote:
Apr 27th, 2019 11:32 am
Are they a safe and reliable bank to park money in for 6 months? How is the app and general customer service?

How would one transfer money from another financial institution such as BMO or TD to this bank safely?
Would be good for someone to provide general feedback on online banking there. Meanwhile here is their FAQ:
What is my branch number?
Excellent question! For Manulife Bank, the institution number is 540 and the transit number is 05012. If you need your account number, you can find it on the Accounts page.

Better still - if you need a void cheque, you can print one off from the left-hand menu after you've logged into our online banking site.
Should be straightforward to add for transfers, at least for EQ or Tangerine.

Also a balance of 1000$ is required to keep it fees free. Sounds like this is a chequing & saving account at the same time?
What is a Manulife Advantage account?
Our Advantage account is a fully functional chequing account that pays you a great rate of interest on every dollar in your account. Better still, we'll waive fees for daily-banking transactions when your balance is at least $1,000. Whether you use it as a chequing account, a savings account, or both - it's just a great way tobank.
https://www.manulifebank.ca/support/about-us/faq.html

Manulife has almost a trillion under asset management, should be fairly safe.
Deal Addict
Mar 22, 2004
2362 posts
128 upvotes
can Tangerine match this? too lazy to move money around...
Newbie
Dec 20, 2018
58 posts
67 upvotes
NetAnt wrote:
Apr 27th, 2019 12:12 pm
can Tangerine match this? too lazy to move money around...
In my dreams.
Jr. Member
Nov 8, 2006
174 posts
43 upvotes
I've signed up since march.
Overall the app/mobile site interface is easy to use. It is definitely much basic compared to tangerine, simplii or other major banks, but it is sufficient for daily use.
I like how it is one combined account which I can use as chequing and saving account.
Fee is waived if >$1000 balance maintained, which shouldn't matter esp. when you want to deposit more to earn 3.35%.
Cheque books and bank drafts are not free, but this doesn't trouble me as i have linked this account to major bank, and I can transfer money if needed.
ABM network is good, you simply have to search for one using their app/site.
its nice to be important but more important to be nice.
Sr. Member
Apr 4, 2017
817 posts
119 upvotes
Toronto
How long do we have to keep money till? It didn't say.
Deal Addict
Sep 19, 2009
1362 posts
346 upvotes
Toronto
I have a old Manulife Bank account and when I login I have Open a New Account > Advantage Account menu option. When I click on it I only see the regular 1.5% rate, not the 3.35% promo.

Is this promo for new clients only? TIA.
Deal Addict
User avatar
Jan 31, 2004
2346 posts
441 upvotes
Montreal
I just signed up. This offer is to good to pass up espacially for quebec residents.
Took maybe 5 min to complete.
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