https://onboarding.manulifeban.....initiation

NokomisStation said

The Offer is limited to one Eligible Account per Eligible Account Owner as determined by the primary account owner.

Nice try John Boy. Can you imagine the Walton family trying to the game the system. So much for selective logging practices. Let's clear cut the forests Grampa Walton! These new chainsaws are awesome.  

Yes, I noticed the " one Eligible Account per Eligible Account Owner ". What you seem to be missing is I stated I would close the current account, then I would open another one afterwards which should meet the eligibility requirement stating only one account for the 3% 2 year promo.

JohnnyCash said

Interesting, but not surprising that they extended the offer period. I opened an account late July, maybe i can close my current one and open another around the end of October to have two full years from then.  

The Offer is limited to one Eligible Account per Eligible Account Owner as determined by the primary account owner.

Nice try John Boy. Can you imagine the Walton family trying to the game the system. So much for selective logging practices. Let's clear cut the forests Grampa Walton! These new chainsaws are awesome.

maGIC said
I just logged in to add an account and noticed the end date is now October 30, 2026. I will not likely need this account until December, so I will wait until around Oct 29th to add one for myself unless it is extended again.  

Interesting, but not surprising that they extended the offer period. I opened an account late July, maybe i can close my current one and open another around the end of October to have two full years from then.

NokomisStation said

My August Regular Interest was $35.29 and the Promo Interest was $35.22 (you are richer than you think??!!). Regular interest was within 7/100 of a penny compared to my spreadsheet, but rounded up in my favour. Thus, I believe this answers your question.

However, the word of today is minutiae.

Saying of the day: Penny-wise but pound-foolish  

The 7 cent solution (albeit not nearly as much cache as Sherlock Holme's 7% solution) is as follows:

July Base Interest and Promo Interest were each in the amount of $51.34 times 1.5%/365days*31 days = $0.0654 or 7 cents for the fans of Roman centurions.

Talking about beating a dead horse.

So, Manulife's Scottish roots in effect have reduced my August annualized effective interest rate on an average August daily balance of $27,696.24 from 3.00% to 2.9975%. This percentage will continue to be reduced with the passage of time unless I really bulk up my Manulife Advantage Account balance dramatically.

1. Net New Deposits, funds from an external source, and
2. previous Promotional Rate interest.

Manulife Bank’s 3.00% Personal Advantage Account Interest Offer, which is currently 3.00% (“Promotional Interest”) is made up of the regular posted variable annual interest rate of 1.50% (“Regular Rate”) and the variable annual promotional rate of 1.50% (“Promotional Rate”). …

dommm said
Sorry if these questions have already been answered, but five pages is a lot to read through. Will the interest earned on deposits also qualify for the 3% annual rate, or will it be separated and only receive the standard 1.5% rate? If I withdraw money from the account and later deposit it back, will the new balance need to exceed the previous high balance before it qualifies for the 3%? Thanks.  

My August Regular Interest was $35.29 and the Promo Interest was $35.22 (you are richer than you think??!!). Regular interest was within 7/100 of a penny compared to my spreadsheet, but rounded up in my favour. Thus, I believe this answers your question.

However, the word of today is minutiae.

Saying of the day: Penny-wise but pound-foolish

Norman1 said
In a previous Manulife Bank offer, the promotional interest only (not the regular interest) earned promotional interest.

I didn't see anything in the offer terms about exceeding previous high balances. The Eligible Deposit balance doesn't have to be maintained for the entire 730 day Promotional Period.  

Have they ever applied that exception in the past?

Norman1 said
In a previous Manulife Bank offer, the promotional interest only (not the regular interest) earned promotional interest.

I didn't see anything in the offer terms about exceeding previous high balances. The Eligible Deposit balance doesn't have to be maintained for the entire 730 day Promotional Period.  

Thanks Norman1 for the reply.

I didn't see anything in the offer terms about exceeding previous high balances. The Eligible Deposit balance doesn't have to be maintained for the entire 730 day Promotional Period.

JohnnyCash said

iotama said

Since I never do account-linking using Flinks/Plaid/etc shadowy third parties, I was also counting on the manual form option via online banking.

It might be safer to not use Manulife Bank if they trust Plaid enough to offer it to their own clients.  

Cannot agree more... seems to be risky partnering with some third party "fintech" to use scraping or official/unofficial API methodology to "link" accounts by vacuuming up the client credentials for the outside FI. Why are FIs taking this route... oh right, too many clients wanting the same "convenience" that the competitor offers , risk tossed to the wind.

iotama said

Since I never do account-linking using Flinks/Plaid/etc shadowy third parties, I was also counting on the manual form option via online banking.

It might be safer to not use Manulife Bank if they trust Plaid enough to offer it to their own clients.

The new external account showed up in online banking and the mobile app next business day. I had uploaded a three-page PDF (completed two-page Funds Transfer Agreement form plus a scan of the void cheque) through their online banking site.