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Earn high interest on every dollar…every day!
Open an Advantage Account online and build your savings faster—earn high interest on every dollar you deposit and never pay a monthly fee.
With an Advantage Account, you get:
- High interest on every dollar in your account, no minimum balance required
- Easy access to your money with personal online banking, mobile and telephone banking, as well as thousands of ATMs
- All the features of a chequing account–you can deposit a cheque using mobile deposit, send or receive money using Interac e-Transfer®, make Interac® Debit card purchases, pay bills and more!
- Unlimited free everyday banking transactions – when you keep $1,000 in your account.2
Some consider the Advantage Account the best combined savings and chequing account in Canada!
Benefits
Compare features
| Manulife Bank Advantage Account | Traditional chequing account | Traditional savings account | |
|---|---|---|---|
| Free unlimited banking | Bank for free when you keep just $1,000 in your account | Minimum balance of $1,500 to $4,000 required to waive fees | Pay per transaction |
| Monthly fee | No monthly fee | Up to $16.95 | No |
| High interest on every dollar | Yes | No | Minimal interest with different rates based on your balance. |
| Minimum balance to earn highest rate | No minimum balance required | Not applicable, no interest offered | Required balance up to $250,000 |
| ATM access | Thousands of ATMs across Canada | Yes | Limited |
When you open an account, many banks make you choose between a great interest rate, no-fee banking, a full suite of banking features and easy access to cash. With the Advantage Account you get it all.
Watch this video to learn more about how the Advantage Account can help make your personal banking easier.
Rates & fees
Rates
The Advantage Account is a high-interest savings account that helps you grow your money with no minimum balance required. At Manulife Bank, we work hard to offer you the best interest rate possible so you can build your savings faster.
Fees
With the Advantage Account, there are no monthly fees and there is never a charge to deposit money into your account. Plus, when you keep a balance of just $1000 in your account, all your everyday banking transactions are free.2
Services and fees include:
| Services | Fees |
|---|---|
| Transferring money from your account at another Canadian bank | No charge |
| Direct deposit | No charge |
| ATM deposits | No charge |
| Mobile cheque deposit | No charge |
These fees are waived when you maintain a balance of $1,000.
| Services | Fees |
|---|---|
| Transferring money to your accounts at other Canadian banks | No charge |
| Pre-authorized withdrawal | No charge |
| ATM withdrawals in Canada* | $1.50 |
| ATM withdrawals outside of Canada* | $3.00 |
| Interac® Debit card purchases in Canada | $1.00 |
| In-store cash back at participating retailers** | No charge |
| Bill payment | $1.00 |
| Sending money using Interac e-Transfer | $1.00 |
| Writing cheques | No charge |
*ATMs that aren't part of THE EXCHANGE® Network may charge their own convenience fees for withdrawals. **No additional charge when you get in-store cash back with a Interac Debit card purchase. |
|
The Advantage Account offers additional services such as wire transfers, personal cheques and official cheques (in lieu of certified cheques). Our Services and Fee Guide covers all of our services and any associated fees.
Resources
FAQ
Opening an Advantage Account online is easy and can take as little as five minutes! If you’re new to Manulife Bank, we’ll ask you to have the following information ready:
- A valid email address or your existing Manulife ID login credentials
- Your Social Insurance Number (SIN)
- A government issued Photo ID or your digital banking credentials with another major Canadian financial institution (we can securely verify your identity by having you sign into your account at another financial institution)
Banks are required by law to ask for your Social Insurance number (SIN) when you open a savings account. Not to worry – the application is simple and we walk you through everything step by step.
Once your Advantage Account is open, you’ll enjoy the benefits of a high-interest savings account that also offers all the features of a chequing account.
And because we’re a digital bank, we focus on offering easy-to-use and convenient online and mobile banking options.
Yes! During the application process for a new account, you can choose to add a joint account holder. All you’ll need is a valid email address for the other party who will receive an invitation to apply as a joint account holder on your account.
You can link your new Advantage Account to your account at another Canadian bank or credit union to easily transfer money between your accounts. This type of transfer is always free.
When you opened your Advantage Account and provided a void cheque or your banking information, we automatically created this link for you. To link another account, perform the following steps:
1. Sign into online banking.
2. Under Money Transfers in the left-side menu, click Link an External Account.
3. Select Get Started and follow the steps to log in and authenticate with your financial institution using Flinks.
4. Once connected, select the account you would like to link.
5. Review the agreement and click Link Account.
6. Your account is now linked. Visit One Time Transfer to make a money transfer.
- Fees are subject to change with at least 30 days of prior written notice. If you don’t receive paper statements, you can find all fee information online.
- All fees are presented on a per item basis, unless otherwise stated.
- Charges are automatically applied to your account.
- Additional convenience fees may apply when you make direct-payment purchases with your debit card.
1 Interest is calculated on the closing daily balance and paid monthly.
2 Everyday banking fees for ATM cash withdrawals on THE EXCHANGE® Network, Interac® Debit card purchases, bill payments, and sending money using Interac e-Transfer are waived when the account balance is $1,000 or more. All other everyday withdrawal and deposit transactions are free at any balance. Other fees may apply.
3 Manulife Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
®Trademark of Interac Corp. Used under license.
Fiserv EFT is the owner of THE EXCHANGE® trademark and its associated rights. Fiserv EFT has granted FICANEX® the exclusive right to use, market and sublicense THE EXCHANGE® trademark and the intellectual property rights associated with the operation of THE EXCHANGE® Network throughout Canada. Manulife Bank of Canada is an authorized user of the mark.
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