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Manulife on comparison chart
May 17, 2019
3:43 am
smayer97
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Doug said
...

So, I know that there are currently deliberations underway in terms of potentially crystallizing what is meant by "competitive" for inclusion in the HISA "comparison chart" and one proposal, which Vatox and a couple others supported in another thread, was to simply adopt the Bank of Canada's current Policy Interest Rate as the baseline for what "competitive" means in terms of regular, posted rate of interest (currently set at 1.75%). If Peter ultimately decides to adopt that, which I'd definitely support, then - at current rates - Manulife Bank wouldn't be eligible for inclusion (neither would Canadian Tire Bank and Meridian Credit Union, at a paltry 1.50% and 1.40%, respectively). If, however, he decides not to formalize and further define what is "competitive" - or settles on some other metric as a baseline - then, ultimately, Manulife Bank should be included.

....
Cheers,
Doug  

First of all.... thank you all for keeping up with promos and sharing with all. It helped me find this latest offer. Invaluable.

As for including Manulife on the main list, first I want to say that since Canadian Tire Bank, whose base rate is 1.5%, is included on the list, to be fair, Manulife, whose base rate is also 1.5%, should be included, to be consistent.

Second, I would suggest creating a second section on the list, whereby banks who may not qualify to be on the main list because their base rate is below the "competitive" threshold be listed IF they have promo rates that DO make them competitive. And if their base rate ever does become "competitive" then move them up into the main list. This way, it allows keeping an eye of these potential up and comers. This would then include the likes of Meridian and DUCA. Just an idea.

May 17, 2019
7:00 am
Peter
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Thanks for your input. I like to keep the main comparison chart simple, but perhaps there is a way to cleanly include promos.

As for Manulife specifically, it should probably go on the chart within a few weeks. I usually just wait a bit after initial discussions have started.

May 17, 2019
8:59 am
Loonie
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The threshold may need to be a bit of a moving target since the range of rates changes a lot. 2.0% may look good one day but terrible in a few months, etc.

May 17, 2019
9:01 am
smayer97
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Currently, the threshold is defined as "competitive rate" so that seems like a moving target 😉

July 27, 2019
8:39 am
hwyc
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Peter said
Thanks for your input. I like to keep the main comparison chart simple, but perhaps there is a way to cleanly include promos.

As for Manulife specifically, it should probably go on the chart within a few weeks. I usually just wait a bit after initial discussions have started.  

I think I won't vote *for* this motion (or hold until further notice)... Advantage Account rate is 1.25% today on Manulife website

June 17, 2020
1:40 pm
smayer97
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hwyc said

I think I won't vote *for* this motion (or hold until further notice)... Advantage Account rate is 1.25% today on Manulife website   

Update...it is currently 0.30% (though they have a promo @ 2.6% until mid Oct, 2020 IF you got in on time) Not sure the exact date it fell that low but the trend has been down for this bank and many others too in this financial COVID climate.

June 17, 2020
1:59 pm
Doug
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Yes, this one is moot. They're borderline on being added to the free chequing accounts comparison chart, but as far as the HISA, given their dropping the base rate to 0.30% so precipitously, they've blown a second chance to be re-added to the HISA comparison chart. sf-cool

Cheers,
Doug

June 17, 2020
2:25 pm
smayer97
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I hear you...

BTW I just realized I mixed up my facts between 2 different banks in the previous post...I just corrected that. Doesn't affect your conclusion 😉

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