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Email this10:09 pm
April 6, 2013
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The fine print only says "Any withdrawals from the Eligible Account during the Promotional Period will be subtracted from the Eligible Deposit balance." Doesn't say withdrawals from any other Manulife Bank accounts will be subtracted.
"All funds held by the client in existing Manulife Bank account(s) on July 1, 2026, will not count as Eligible Deposits." could be used to block attempts to transfer funds from other Manulife Bank accounts out to another bank and then back into the Eligible Account.
5:36 am
April 21, 2022
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Norman1 said
The fine print only says "Any withdrawals from the Eligible Account during the Promotional Period will be subtracted from the Eligible Deposit balance." Doesn't say withdrawals from any other Manulife Bank accounts will be subtracted."All funds held by the client in existing Manulife Bank account(s) on July 1, 2026, will not count as Eligible Deposits." could be used to block attempts to transfer funds from other Manulife Bank accounts out to another bank and then back into the Eligible Account.
Yeah, that first part is another gotcha. Put 500k in then withdraw 100k sometime later on, forget about putting it back.
7:18 am
March 14, 2023
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JohnnyCash said
Yeah, that first part is another gotcha. Put 500k in then withdraw 100k sometime later on, forget about putting it back.
Why wouldn't depositing it back be an addition to the Eligible Deposit balance? I don't interpret the statement on withdrawals to mean that there is a permanent decrease in the $ that would be eligible for the promo rate.
"Interest is calculated daily and paid monthly beginning on the date the account is opened and continuing 730 days (2 years) on net new deposits". Emphasis added.
7:39 am
April 6, 2013
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Promotional Interest will be paid on Net New Deposits made during the 730 day Promotional Period, not just those made during the July 2 - September 11 Offer Period.
One doesn't need to fund the Advantage account by September 11. The funds can also leave and be returned during the 730 days.
