Personal Finance

Manulife Really Sucks!

  • Last Updated:
  • Jul 29th, 2021 11:52 am
[OP]
Member
Dec 22, 2012
250 posts
194 upvotes
Scarborough

Manulife Really Sucks!

Opened a 2% (Regular0.15%+Promo1.85%) saving account with Manulife in early last month. Checked today and was shocked - Promo interest deposit is only 2 times of regular interest deposit, which means promo rate is only 0.3%. Called and was told that they will investigate and wait for at least 24 hrs.

Dealt with lot of banks and this is the only stupid mistake ever experienced.
5 replies
Deal Expert
User avatar
Feb 8, 2014
28885 posts
12561 upvotes
Socially Distanced
This is peanuts.
Deal with a BMO branch that does not know 2 + 2 equals four then we can chat
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Fanatic
Jan 21, 2014
7312 posts
4724 upvotes
richardjhy wrote: Opened a 2% (Regular0.15%+Promo1.85%) saving account with Manulife in early last month. Checked today and was shocked - Promo interest deposit is only 2 times of regular interest deposit, which means promo rate is only 0.3%. Called and was told that they will investigate and wait for at least 24 hrs.

Dealt with lot of banks and this is the only stupid mistake ever experienced.
I am surprised. Did you just checked now or you just posted your story now? Shouldn't you have checked on July 2nd about this already :)?
[OP]
Member
Dec 22, 2012
250 posts
194 upvotes
Scarborough
mkl38s wrote: I am surprised. Did you just checked now or you just posted your story now? Shouldn't you have checked on July 2nd about this already :)?
I just checked yesterday. I don't check saving accounts very often. Will not trust banks any more.
Deal Addict
User avatar
Dec 4, 2007
4458 posts
2166 upvotes
Quebec
the main reason why i find manulife suck. its because of how they calculate the promotion rate, witch is not on daily closure balance, but some weird calculation, if that customer loaded the max allowed funds at first then make withdrawal during the promo rate.

as soon you reach the max amount deposit, after that, each time you make a withdraw, your promo rate will only apply to the total fund, less what you have withdrawn. even if you put back the money into that account.
Member
Oct 11, 2013
223 posts
67 upvotes
Almost American
richardjhy wrote: I just checked yesterday. I don't check saving accounts very often. Will not trust banks any more.
Look at RBC.. You'll have deposits the same day and they will NSF you. It happened to me years ago the deposit even shows up under the NSF (meaning it happend first). They're also really shifty with your VISA. No running balance, don't trust them one bit. I'm sure there are "banking errors" on their end that shift that all the time.

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