Hey! Great concept for a website! Just found it via google.
I've learned of a few new places to look for my new high interest savings account. One bank I was hoping to find further info on though is Manulife one. (http://www.manulifeone.com/) It's not really a high-interest account in the same way as the others, but it is definitely a unique product that has many of the same benefits as a high-interest account.
Anyone else out there have any experiences with this bank?
I am just about to enter into a Manulife One account.
I really like the ability to consolidate all of my debts and contribute all of my income
directly to the debt load.
I am also wondering if there is a drawback. I don't want to hear from people who think that it is a poor plan. I want to hear from those who have used this account and either really like it or don't - with reasons please!
Looked at Manulife One, which is an account concept used in Australia for many years. It is a very good concept for individuals that are highly diciplined to manage all their finances and are looking to agressively pay-down their debt. However, if you are not so disciplined, you can likely do much better consolodating your debt into a traditional low rate mortgage or loan, paying it down systimatically and directing your savings to another high-yielding savings account.
There are monthly fees and higher rates connected to the Manulife loan feature.
Please write your comments in the forum.