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:
  • Apr 5th, 2020 2:52 pm
Deal Fanatic
User avatar
Jan 31, 2006
6062 posts
1207 upvotes
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
19025 posts
11881 upvotes
Waterloo, ON
cgtlky wrote: 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
Penalty Box
User avatar
May 15, 2016
5448 posts
1843 upvotes
Why would you close your account? You may get an offer in the future with a high interest rate.
Deal Addict
May 21, 2004
2152 posts
1159 upvotes
GTA
vivibaby wrote: 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
110 posts
84 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.
Deal Addict
User avatar
Apr 3, 2013
1198 posts
842 upvotes
Toronto
adclker wrote: 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
Deal Expert
Jan 7, 2002
19025 posts
11881 upvotes
Waterloo, ON
adclker wrote: 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
Sr. Member
Jul 1, 2006
564 posts
354 upvotes
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.
Deal Expert
Jan 7, 2002
19025 posts
11881 upvotes
Waterloo, ON
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
5448 posts
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bylo wrote: 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.
Deal Expert
Jan 7, 2002
19025 posts
11881 upvotes
Waterloo, ON
vivibaby wrote: 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
Deal Addict
Dec 13, 2010
1814 posts
764 upvotes
ON
bylo wrote: 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?
Deal Expert
Jan 7, 2002
19025 posts
11881 upvotes
Waterloo, ON
thetipster wrote: 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
Sr. Member
Jul 1, 2006
564 posts
354 upvotes
bylo wrote: 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. ;)
Deal Addict
Jan 21, 2018
2495 posts
2458 upvotes
Vancouver
So the old 3.25% promo is coming to an end for in a week or so. Time to find alternatives.

Looks like Manulife's current offering is now 1.2% base interest rate on the Advantage account, and 1-year GICs at 1.9%. I wouldn't exactly call that uncompetitive. Pathetic maybe, but on par with the major banks. But as a 2nd -tier bank, Manulife really needs to be better.

It looks like there's no problem to do direct transfers out from the Advantage account for no fee, but as I recall the transfers in were limited to $50K at a time online. Does anyone know if that applies to transfers out as well?

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