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Email this10:47 pm
April 6, 2013
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Lodown said
From Manulife, if I want to 'pull' funds in to the newly created Manulife account, I will still be able do so from pre-existing external bank links I have at Manulife - correct or is this also a problem?
Usually, the linked external accounts are tied to the user profile or user sign in and not tied to any particular account. That is how the external bank account links are at EQ Bank, Tangerine Bank, Simplii, and Hubert. That is also how the external account links are at Scotia iTRADE.
You should be able to use the existing external account links if you add the new Advantage account to your current Manulife Bank sign in.
2:41 am
September 29, 2017
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Norman1 said
Lodown said
From Manulife, if I want to 'pull' funds in to the newly created Manulife account, I will still be able do so from pre-existing external bank links I have at Manulife - correct or is this also a problem?
nvm. read the original incorrectly.
Links at Manulife to your external accounts will continue to work.
Just keep in mind that links to external accounts are specific, meaning they specify a unique account at that the external FI. Therefore, if you want to push/pull funds initiated at the external bank to/from the new Manulife account, you will need to create a new link at each of the external banks to the new Manulife account.
2:28 pm
December 27, 2020
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The 4.8% rate is certainly tempting but for how long? We've all seen the tactics of institutions like DUCA who lure folks in and shortly after reduce the rate.
Anyone familiar enough with Manulife to forecast how long this rate will possibly last?
3:23 pm
January 7, 2020
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I am under the impression that this promo is for 120 days-- starting from the date the account was opened. (It has worked like this in the past, with Manulife promos)
4:17 pm
November 8, 2021
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mustang said
I am under the impression that this promo is for 120 days-- starting from the date the account was opened. (It has worked like this in the past, with Manulife promos)
That is correct. This offer is also termed in time, to set up.
4:21 pm
November 8, 2021
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A side note to external accounts: linked external accounts to the Advantage account that are no longer valid, cannot be removed by the account holder, this probably requires a CSR intervention.
4:56 pm
April 21, 2022
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Kirk said
The 4.8% rate is certainly tempting but for how long? We've all seen the tactics of institutions like DUCA who lure folks in and shortly after reduce the rate.Anyone familiar enough with Manulife to forecast how long this rate will possibly last?
The base interest rate is not fixed and will move up and down with the BoC, not necessarily by the same amount though. The promotional rate is fixed for the duration of the offer.
5:11 pm
January 10, 2017
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mustang said
I am under the impression that this promo is for 120 days-- starting from the date the account was opened. (It has worked like this in the past, with Manulife promos)
Non-registered=4 months from opening
Registered (TFSA, RRSP)= 30 April 2025
Also, the "regular rate - currently 1.95%, will decrease with BoC rate reductions.
BoC rate review 2025 dates are:
January 29
March 12
April 16
Given, BoC rate declines are not over, rates on this offer will likely ladder down up to 1.25% by 30 April 2025.
Manulife Offer details are:
*4.80% promotional rate is for new deposits to a new personal, non-registered, Canadian-dollar Advantage Account. The promotional interest rate is made up of the regular posted annual variable interest rate of 1.95% and the variable annual promotional rate of 2.85%. Interest is calculated daily and paid monthly beginning on the date the account is opened and continuing 120 days (4 months) on net new deposits to a maximum of $500,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer is limited to one account per client and cannot be combined with other offers. The offer and rates are as of December 12, 2024 and subject to change without notice. Click here for full terms and conditions.
**4.80% promotional interest is for new deposits to Tax-Free Advantage Accounts and Registered Advantage Accounts. The promotional interest rate is made up of the regular posted variable annual interest rate of 1.05 % and the variable annual promotional rate of 3.75%. Interest is calculated daily and paid monthly from December 12, 2024 to April 30, 2025 on net new deposits to the account received from December 12, 2024 to March 10, 2025 to a maximum of $250,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer and rates are as at December 12, 2024 and subject to change without notice. See full terms and conditions and visit manulifebank.ca for current rates.
6:00 pm
March 15, 2019
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Darn and darn.
I got an email from Manulife in mid-November 2024 advising me that new deposits to my Advantage account (didn't specify which one as I have two) will earn 5.15% interest.
I called Manulife to-day and was told that my 4 deposits at the ATM went to the "wrong" Advantage account (I have two) and I will get only 1.95% (not 5.15% or 4.80%) interest. I said that is so unfair since their email did not specifiy which Advantage account. The CSR said she will see what can be done.
10:32 pm
October 21, 2013
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I don't have any accounts with ManuLife now, but have a couple of questions.
1. Does ManuLife allow push/pull originating at ManuLife? Are there transfer-out limits? Is there a free companion chequing account?
2. The max on this offer is 500k. How much would you consider safe to deposit considering CDIC limit 100K? How would you compare the safety of this bank to Tangerine?
Thanks.
11:15 pm
April 6, 2013
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Yes, Manulife Bank allows Advantage account holders to originate direct deposits (push funds out) and pre-authorized debits (pull funds in) to one's external accounts.
No companion chequing account; the Advantage account is a chequing account.
Manulife Bank currently has a DBRS debt rating of AA(low). One notch below the DBRS AA rating of National Bank, Bank of Montreal, CIBC, and Province of Ontario. One notch above the DBRS A(high) rating of the Province of Manitoba and Province of Nova Scotia.
3:41 am
September 29, 2017
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Loonie said
I don't have any accounts with Manulife now, but have a couple of questions.1. Does Manulife allow push/pull originating at Manulife? Are there transfer-out limits? Is there a free companion chequing account?
...
Thanks.
Manulife Bank has a $50K/day withdrawal limit. I believe they do not allow override of this limit, even with a phone call. Call them to confirm if this is still true.
TIP: If you have a joint account, you can perform the transfer from each login. Each limit is tried to the profile so is treated separately, effectively doubling your withdrawal limit.
7:22 am
July 28, 2016
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Hey, I just opened an account at Manulife with the 4.8% promo with no problem. Made my first pull transfer in and was surprised to see that there is no holding period.
8:29 am
October 4, 2018
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COIN said
Darn and darn.I got an email from Manulife in mid-November 2024 advising me that new deposits to my Advantage account (didn't specify which one as I have two) will earn 5.15% interest.
I called Manulife to-day and was told that my 4 deposits at the ATM went to the "wrong" Advantage account (I have two) and I will get only 1.95% (not 5.15% or 4.80%) interest. I said that is so unfair since their email did not specifiy which Advantage account. The CSR said she will see what can be done.
I don't get how you can have two Advantage Accounts at the same time. I believe you mentioned this before. I currently have one Advantage Account, so I can just sign up for a new one in the same name and get all the perks of a new promotional offer?
Thanks,
TD
8:33 am
March 15, 2019
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mustang said
I just opened a new advantage account. (This makes 6 advantage accounts I have there now)
4.80% for 4 months
Watch Manulife like a hawk if you have 6 Advantage accounts. I think only one qualifies for the 4.80%. Be sure that Manulife deposits your new funds to that one account.
In my case, Manulife deposited the funds to the Advantage account (I have two Advantage accounts) that pays only 1.95%.
8:35 am
January 10, 2017
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Why not call in and close the old accounts?
8:39 am
March 15, 2019
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Top Dogg said
I don't get how you can have two Advantage Accounts at the same time. I believe you mentioned this before. I currently have one Advantage Account, so I can just sign up for a new one in the same name and get all the perks of a new promotional offer?
Thanks,
TD
I think you have to pro-actively close the older Advantage account to reduce the number from 2 to 1. If memory serves me right, I think I kept the older Advanage account open in case I get credit interest after I opened the second Advantage account and simply forgot to close it (it doesn't automatically close). Also, make the change in your debit card if you are using ATM's to make deposits.
8:46 am
January 7, 2020
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Top Dogg said
I don't get how you can have two Advantage Accounts at the same time. I believe you mentioned this before. I currently have one Advantage Account, so I can just sign up for a new one in the same name and get all the perks of a new promotional offer?
Thanks,
TD
Yes
1:31 pm
March 7, 2013
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To answer smayer97's questions, I've been moving money in and out of Manulife whenever they have a good promotion. Very easy to transfer funds in and out of your external linked account. Today I wanted to transfer in more than their posted limit of $50,000 for online transactions as I had a GIC at another bank mature, and I was was put through to an agent on the phone almost immediately. The transaction went through smoothly and promptly.
2:05 pm
January 7, 2020
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COIN said
Watch Manulife like a hawk if you have 6 Advantage accounts. I think only one qualifies for the 4.80%. Be sure that Manulife deposits your new funds to that one account.
In my case, Manulife deposited the funds to the Advantage account (I have two Advantage accounts) that pays only 1.95%.
Thanks for the reminder
I have indeed confirmed with Manulife that I MUST transfer funds from external fi into the new 4.8% account
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