[EXPIRED] 3.25% (for everybody) or 3.35% (for group benefits) for 6 months in new Advantage Accounts | Page 9 | Manulife Bank | Discussion forum

Londonguy said

rk said

The bad news: although I did exactly what the CSR asked me to, I have got an email stating that they are unable to process it, implying that the reason is that they need:
"A pre-printed void cheque, or a bank-stamped confirmation letter".
Here is where I give up. 

If it makes you feel any better, it isn't just you. Last week in my Manulife account I tried to add a link to an old TD savings account. Since I have no cheques for it and obtaining a PAD from TD would be a nightmare if not outright impossible, I tried uploading my most recent bank statement for documentation. The link request got rejected just like yours did.

However, since this TD account is linked to my EQ Bank account (which offers a simpler linking process that requires only the correct bank routing numbers), I first pulled the funds in question out of TD from the EQ side, and then pulled them onward from the Manulife side a few days later when the EQ hold was released. No lost interest at all since EQ pays 2.30% while I was waiting  

Are you not able to print a VOID cheque from you TD account right online? I know most banks offer this facility. That is all that is needed. It is what I did with no trouble.

manulifebank said

Doug said

does that also include both Manulife's original Group Retirement business and the Group Retirement business acquired from Standard Life Canada a few years ago (which is accessed via a separate VIP Room website)? 

Sorry for the delay, Doug! The Group Bank Promo offer of 3.35% includes Group Benefits, Group Retirement Services, and Standard Life plans through Group Channels.  

Thanks for the reply, Manulife Bank! I appreciate it and appreciate the clarification. 🙂

All I have to add to that would be, in any future customer acquisition promo offers you might offer, to call it a Group Benefits and Retirement Solutions offer.

Cheers,
Doug

Londonguy said

VOID cheque printing for this so-called "companion savings account" is apparently not an option  

This hasn't been completely confirmed yet. We've gotten about 50/50 reports of success/failure with unstamped VOID cheque and bank account verification forms, so some clarity from Manulife Bank would be helpful.

Cheers,
Doug

Londonguy said

Thanks, Norman. As PAD forms go, that one gets full marks for minimization of information, so I don't see where the value-added comes from. However, I recognize that banks have their own ways of doing things, and if they find that document form more informational to them than what I already provided, so be it.

I didn't have time to dink around with it in this previous situation. But now that I am no longer in a hurry, I can print it out, plan a trip to a TD branch, hopefully get the form stamped without much explanation or ado, and then I can upload it to Manulife to see if it meets their approval. If all goes well, then I can be ready for next time, if there is a next time.

I still find it a bit confounding that a Hubert or EQ Bank or Tangerine (to name a few) can link a savings account to their platforms without any PAD whatsoever. So what purpose does the PAD even serve anymore?

I also find it confounding that as an Ontarian I can get a detailed PAD for a savings account out of a Manitoba credit union or an Alberta bank by simply phoning them, yet for a BigBank savings account I have to get in my car and go stand in line at a BigBank branch to obtain the same document. Is that intended to create a marketing opportunity for BigBank to try to talk me out of what I'm doing?  

I think it pays 3.25-3.35% (depending on your promo) through September or October 2019, so why not take advantage of this promo?

Your account is opened (you have until mid-July) and then you earn the promo rate for 6 months (5 months or so now).

Also, the phenomenon with some financial institutions requiring bank stamped direct deposit forms is not unique to Manulife Bank. Unless the linked account is your first linked account and being used for identity verification purposes along with a credit bureau, it's actually not a requirement. Simplii Financial still requires bank stamped forms (they previously accepted only VOID cheques), so are somewhat arcane in that regard. Practice definitely varies here. I think it comes down to a lack of trust to clients entering the information correctly on the form in a manner similar to what @Loonie as report vis-a-vis Motus Bank requiring his Oaken Financial RIF statement for a transfer process. 😉

Cheers,
Doug

Doug said

I think it pays 3.25-3.35% (depending on your promo) through September or October 2019, so why not take advantage of this promo?

Your account is opened (you have until mid-July) and then you earn the promo rate for 6 months (5 months or so now).

Cheers,
Doug  

Doug, I don't know where you're coming from here. I do have a Manulife account under their promo, and I've been filling it up with transfers-in from here and there for a few weeks now as funds become available elsewhere

Londonguy said

Doug, I don't know where you're coming from here. I do have a Manulife account under their promo, and I've been filling it up with transfers-in from here and there for a few weeks now as funds become available elsewhere  

I read that you were going to not worry about the promo and just trying to get your TDCT account linked for next time? What did I miss?

Cheers,
Doug

Doug said

I read that you were going to not worry about the promo and just trying to get your TDCT account linked for next time? What did I miss?

Cheers,
Doug  

You may be confusing me with somebody else. I applied in early May and was activated on the 7th. The TD thing only came up because I suggested to another poster (who was frustrated with getting their links established) that "as a temporary patch" they could alternatively route their transfers through EQ Bank and then onward to Manulife, which is what I did last week getting funds out of TD after my own TD link attempt was rejected.

Londonguy said

You may be confusing me with somebody else. I applied in early May and was activated on the 7th. The TD thing only came up because I suggested to another poster (who was frustrated with getting their links established) that "as a temporary patch" they could alternatively route their transfers through EQ Bank and then onward to Manulife, which is what I did last week getting funds out of TD after my own TD link attempt was rejected.  

Thanks, for clarity, you said, at post # 167:

"I didn't have time to dink around with it in this previous situation. But now that I am no longer in a hurry, I can print it out, plan a trip to a TD branch, hopefully get the form stamped without much explanation or ado, and then I can upload it to Manulife to see if it meets their approval. If all goes well, then I can be ready for next time, if there is a next time."

I took that to mean you would just get your TDCT account linked for next time Manulife Bank does a promo offer but that there's no point due to loss of interest!? Can you clarify?

Confused.

Cheers,
Doug

Doug said

Thanks, for clarity, you said, at post # 167:

"I didn't have time to dink around with it in this previous situation. But now that I am no longer in a hurry, I can print it out, plan a trip to a TD branch, hopefully get the form stamped without much explanation or ado, and then I can upload it to Manulife to see if it meets their approval. If all goes well, then I can be ready for next time, if there is a next time."

I took that to mean you would just get your TDCT account linked for next time Manulife Bank does a promo offer but that there's no point due to loss of interest!? Can you clarify?

Confused.

Cheers,
Doug  

The "next time" was a reference to a potential next time that I might need or want to move money out of TDDI over to Manulife

Londonguy said

The "next time" was a reference to a potential next time that I might need or want to move money out of TDDI over to Manulife  

Ah, thanks for clarifying!

You could also give TDDI your Manulife Bank VOID cheque. Not sure how strict TDDI is, but Scotia iTRADE doesn't need the form to be stamped. I have my Hubert, Implicity, Coast Capital, and Tangerine accounts linked to my Scotia iTRADE accounts in Scotia OnLine. Works very slick.

Cheers,
Doug