Spring 2024 - new account 5.50% (formerly 5.75%) for 120 days | Page 5 | Manulife Bank | Discussion forum

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Spring 2024 - new account 5.50% (formerly 5.75%) for 120 days
June 7, 2024
10:03 am
Lodown
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That is good to know. Does the PDF direct deposit form need to be signed?

June 7, 2024
10:38 am
JohnnyCash
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Lodown said
That is good to know. Does the PDF direct deposit form need to be signed?  

No, with that being said, they can be a bit finicky with accepting uploaded void cheques and direct deposit forms, just depends on the person reviewing the request.

June 7, 2024
10:59 am
Lodown
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That is why I asked. I once signed a PAD form and was told not to by the accepting bank. There seems to be no consistency with these banks.

So for Manulife, I uploaded a Pre-Authorised Payment (PAP) form, which my other bank claimed is like a Void Cheque. I filled it out myself with needed details, but did not sign it. Will see what happens.

June 7, 2024
11:14 am
JohnnyCash
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Lodown said
That is why I asked. I once signed a PAD form and was told not to by the accepting bank. There seems to be no consistency with these banks.

So for Manulife, I uploaded a Pre-Authorised Payment (PAP) form, which my other bank claimed is like a Void Cheque. I filled it out myself with needed details, but did not sign it. Will see what happens.  

If they reject it, they'll usually let you know and why.

June 13, 2024
10:30 am
JohnnyCash
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The total interest rate on this promotion has dropped to 5.5% as the base rate was reduced, likely a result of last week's BoC announcement.

June 13, 2024
10:54 am
Top Dogg
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JohnnyCash said
The total interest rate on this promotion has dropped to 5.5% as the base rate was reduced, likely a result of last week's BoC announcement.  

That sucks but we knew this could happen. It's all just a part of 'the game'.

June 13, 2024
11:17 am
The Rock
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JohnnyCash said
The total interest rate on this promotion has dropped to 5.5% as the base rate was reduced, likely a result of last week's BoC announcement.  

We knew it was coming. Was just a matter of when.

June 14, 2024
11:52 am
Lodown
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Peter, we need a title change to 5.5%

June 14, 2024
11:54 am
Peter
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Lodown said
Peter, we need a title change to 5.5%  

Thanks; done!

June 15, 2024
2:22 pm
maker12345
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Interesting how this bank and others quickly come out to the gate to lower rates, when bank of Canada raised the rates, many banks were slow in increasing their rates.

June 17, 2024
8:01 am
Lodown
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JohnnyCash said

No, with that being said, they can be a bit finicky with accepting uploaded void cheques and direct deposit forms, just depends on the person reviewing the request.  

Yes, very finnicky! I sent them a stamped form from my external bank and they still did not accept it. They emailed me a Manulife form that they wanted filled out and signed and stamped by my external bank ! I ended up using FLINKS - linked in under 10 minutes, but changed my password before and after the link.

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