Autumn 2023 - new account 5.25% on net new deposit | Manulife Bank | Discussion forum

hwyc said
Autumn 2023 - new account earn 5.25% (2.85% regular +2.40% promo) on net new deposit

(the “Offer Period”) between October 18, 2023 and December 15, 2023

The Promotional Interest will be calculated daily and paid monthly beginning on the date the account is opened and continuing 120 days (“Promotional Period”) on Eligible Deposits made during the Promotional Period.
  

Historically, they require a new account even for existing clients. This segregates new deposit so they are not co-mingled with "old" money.

Currently I am on their previous 5% promotion. Would I be able to close that account and open a new Manulfe savings account for the 5 1/4% without any difficulties? With a new account the money I deposit should be considered new money and not old money. Thanks