Manulife after the promo expires - will they try to retain us?? | Manulife Bank | Discussion forum

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Manulife after the promo expires - will they try to retain us??
November 1, 2019
10:25 am
rhvic
Victoria, BC
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I am getting close to the expiry date of my Manulife promotion period, and I am wondering if they will try to retain any of their customers who signed on for it.

Has anyone whose promo period has already expired been offered anything better than the base rate (which I think is 1.15%)?

If not, I am prepared to quickly move funds out of Manulife to better rates at other FIs.

November 1, 2019
12:23 pm
canadian.100
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rhvic said
I am getting close to the expiry date of my Manulife promotion period, and I am wondering if they will try to retain any of their customers who signed on for it.

Has anyone whose promo period has already expired been offered anything better than the base rate (which I think is 1.15%)?

If not, I am prepared to quickly move funds out of Manulife to better rates at other FIs.  

I contacted them after my promo expired 2 days ago. Nothing available for retention except base rate which is 1.2%.

November 10, 2019
12:20 am
speedwagen
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I'm surprised this hasn't already been posted, as I'm not normally 1 to spot new promo's, but Manulife appears to have a new 2.80% 5 mo promo that started Oct31.

I couldn't get the full T & C's though, so I don't know when sign-up period ends, but I presume that anyone who transferred-out before that should be able to open another acc't & transfer back in. I'd also presume that anyone who still had funds on acc't on Oct31 from that last promo would have to up the ante.

November 10, 2019
8:40 am
Norman1
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The offer may only be for Manulife group benefits members.

I found mention of a Manulife Bank 2.80% offer for their Canadian-dollar Advantage Account: GB flexible financial solutions

With Manulife Bank complementing your group benefits plan, you now have access to flexible financial solutions to help put more money in your pocket. …

2.80% promotional rate is for 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 1.20% and the variable annual promotional rate of 1.60%. Interest is calculated daily and paid monthly on net new deposits for the first 150 days (5 months) after account opening to a maximum of $100,000. 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 October 31, 2019 and subject to change without notice. …

The link to the full terms and conditions is broken (HTTP 404 not found).

November 11, 2019
7:02 am
canadian.100
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I phoned Manulife. The agent said the 2.8% offer is good for up to $100K in new funds to a new Advantage account. You can open a new account even if you already have an Advantage Account. The offer is good for 150 days and then reverts to the base 1.2%. Sign up for the new offer is until end of November.

November 11, 2019
8:30 am
Nehpets
Ontario
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canadian.100 said
.... The agent said the 2.8% offer is good for up to $100K in new funds to a new Advantage account. You can open a new account even if you already have an Advantage Account. The offer is good for 150 days and then reverts to the base 1.2%. Sign up for the new offer is until end of November.  

Much too complicated when compared to other FI's and CU's that we are all familiar with that run periodic rate promos with the sole stipulation that it requires new money.

No need to open new accounts and play unnecessary games.

Had high hopes for Manulife at first, but seeing their behavior the past several months add them to my avoid list.

Added later: Called to close accounts, originally opened for recent promo, and although the cancellation was quick and efficient, I was surprised (or perhaps not) that there was no retention offer, not even a mention of retention, or inquiry as to why I was closing the accounts.

Stephen

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