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:
  • Nov 20th, 2019 7:11 pm
Member
Jul 1, 2006
447 posts
242 upvotes
Britex wrote:
Nov 15th, 2019 7:40 pm
Based on all of your points, aren't you better off using EQ Bank?
1. 2.3% instead of 1.5% and you use it like a chequing account.
2. It is fee free with no minimum.
3. I have 10 links so far. Don't know what the limit is.
I'd really like to use EQ actually, but it is missing a few things still. It seems like they are planning to add most of them, and if they do then I may very well consider switching at that point.

In particular:
- No joint accounts
- No cheques (ok, don't need them much anymore but every now and again)
- No debit card to get cash
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Jan 31, 2006
5497 posts
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Toronto
I pull out all my $ and left $60 from the interest I obtain, now how will I CLOSE this account? Can I just pull out the $60 and left it dormant? Thanks
Deal Expert
Jan 7, 2002
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cgtlky wrote:
Nov 16th, 2019 3:42 pm
Can I just pull out the $60 and left it dormant? Thanks
Yes, but that could take a year or more. If you want it faster, pick up your phone and call them.
veni, vidi, Visa
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May 15, 2016
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Why would you close your account? You may get an offer in the future with a high interest rate.
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May 21, 2004
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GTA
vivibaby wrote:
Nov 16th, 2019 6:37 pm
Why would you close your account? You may get an offer in the future with a high interest rate.
Companies have a tendency to favor new customers versus loyal ones. So, they are more likely to offer better rates or other benefits to sign up a new customer. It's a sad state of affairs in how loyal customers are treated, but, that keeps repeating itself and is the trend.
Jr. Member
Oct 11, 2017
105 posts
83 upvotes
Vancouver
pulled out the money a few days before the promotion ends. i got a voicemail from manulife saying to call back to their number and they are willing to offer good interest rate.
anyone knows what rate we will be looking at? i pulled my money to b2b, and i think it's hard for them to match or get anywhere closer. i totally wanna avoid that awkward situation where i refused to transfer the money back to them.
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Apr 3, 2013
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adclker wrote:
Nov 20th, 2019 9:22 am
pulled out the money a few days before the promotion ends. i got a voicemail from manulife saying to call back to their number and they are willing to offer good interest rate.
anyone knows what rate we will be looking at? i pulled my money to b2b, and i think it's hard for them to match or get anywhere closer. i totally wanna avoid that awkward situation where i refused to transfer the money back to them.
I don't think anybody else got a call after pulling their money out. Seems like people were asking but they got pretty poor rates.
If you do choose to call back, let us know what they offer.
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Tangerine
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Jan 7, 2002
16848 posts
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adclker wrote:
Nov 20th, 2019 9:22 am
pulled out the money a few days before the promotion ends. i got a voicemail from manulife saying to call back to their number and they are willing to offer good interest rate.
anyone knows what rate we will be looking at? i pulled my money to b2b, and i think it's hard for them to match or get anywhere closer. i totally wanna avoid that awkward situation where i refused to transfer the money back to them.
I called to transfer out at the end of Oct. They offered a poor HISA rate (I don't recall the exact rate) and a "special" rate of 2.25% for a 6 month GIC. That's not great but it might be OK for someone who has a large sum they need to spread around for CDIC coverage.

I would call them back to see what they have to offer today. It's possible that they lost so much in deposits at the end of October when this promo ended for the early birds that now they're being more aggressive in trying to keep deposits. Don't worry about any awkward situations. I'm sure they've had these conversations many times now in the past few weeks. If you don't like what they're offering just say a firm "no thanks" and repeat your request to transfer your money out. It's your money so there's nothing to feel awkward about.
veni, vidi, Visa
Member
Jul 1, 2006
447 posts
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I got an offer for a 6 month redeemable GIC at 2.25%. I responded that I could get 2.8% at Motive and 3.3% at B2B and received the following response:
I will be providing feedback that our rate is not as competitive as we had hoped.
So who knows - maybe something better will come along.
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Jan 7, 2002
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I will be providing feedback that our rate is not as competitive as we had hoped.
If whoever the agent is sending feedback to ever thought that 2.2% is competitive then they should be fired. Now. With cause: Rank incompetence. It takes about five minutes to determine that everyone from EQ to B2B as well as promos from TING and Simplii offer higher rates.

Depending on your customers' ignorance may work in general situations. But we all opened accounts with Manulife because they were offering 3.35%/3.25% promotional rates. We didn't just wake up one day and decide to apply to Manulife. No we applied because we're informed savers who are prepared to move to whoever offers us the highest rate. Why would anyone at Manulife suppose that people like us would suddenly turn too dumb or become too lazy to move our deposits elsewhere the instant Manulife's rates became uncompetitive? As I said anyone who thinks that should be fired. Now. With cause.
veni, vidi, Visa
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May 15, 2016
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bylo wrote:
Nov 20th, 2019 12:59 pm
If whoever the agent is sending feedback to ever thought that 2.2% is competitive then they should be fired. Now. With cause: Rank incompetence. It takes about five minutes to determine that everyone from EQ to B2B as well as promos from TING and Simplii offer higher rates.

Depending on your customers' ignorance may work in general situations. But we all opened accounts with Manulife because they were offering 3.35%/3.25% promotional rates. We didn't just wake up one day and decide to apply to Manulife. No we applied because we're informed savers who are prepared to move to whoever offers us the highest rate. Why would anyone at Manulife suppose that people like us would suddenly turn too dumb or become too lazy to move our deposits elsewhere the instant Manulife's rates became uncompetitive? As I said anyone who thinks that should be fired. Now. With cause.
Maybe they needed a boost of money at that particular time? I'm sure banks do not give out high interest rates for no particular reason.
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vivibaby wrote:
Nov 20th, 2019 2:26 pm
Maybe they needed a boost of money at that particular time?
That's quite possible. But if so, that explanation would be inconsistent with the agent's response to @sckor: "I will be providing feedback that our rate is not as competitive as we had hoped."
veni, vidi, Visa
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Dec 13, 2010
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bylo wrote:
Nov 20th, 2019 2:40 pm
That's quite possible. But if so, that explanation would be inconsistent with the agent's response to @sckor: "I will be providing feedback that our rate is not as competitive as we had hoped."
Lol, like the agent would be in the "know" about strategies at that level?
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Jan 7, 2002
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thetipster wrote:
Nov 20th, 2019 5:29 pm
Lol, like the agent would be in the "know" about strategies at that level?
LOL like maybe a competent company that's seeing a hemorrhage of capital once their promo has ended would have given their agents some credible talking points even if not a competitive counteroffer to try to staunch that bleeding ;)
veni, vidi, Visa
Member
Jul 1, 2006
447 posts
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bylo wrote:
Nov 20th, 2019 5:33 pm
LOL like maybe a competent company that's seeing a hemorrhage of capital once their promo has ended would have given their agents some credible talking points even if not a competitive counteroffer to try to staunch that bleeding ;)
I am actually happy the agent didn't try to use some corporate speak or crazy justification here. A mistake was made (by someone who clearly failed at market research) and feedback to that effect will be provided.

Now they just need to come back with a decent offer, and I'd happily move my money back to avoid the horrid user experience offered by both Motive and B2B. Motive because of the massive lag in getting anything done due to all of the signed form back and forth crap. And B2B's platform is a terrible, slow, mess of a thing. Must stop complaining about those 2, since this is the Manulife thread. ;)

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