Here’s what the package includes:
- Everyday Banking Account: unlimited e-Transfers, debit purchases, bill payments, and withdrawals
- High-Interest Savings Account: earn interest on every dollar you save
- Innovative savings tools: reach your financial goals with automated savings tools and a virtual financial assistant
- Travel insurance: stay covered while you’re abroad with $10,000 of annual travel disruption insurance4
- Secured overdraft: in case you face any unexpected expenses, secured overdraft can help you avoid NSF fees2
|Savings Account rate: 0.15%5|
|Everyday Banking Account rate: 0%|
|Secured overdraft rate: 15%2|
Monthly fee: $10
At the end of every month, if your High-Interest Savings Account balance is $100 higher than it was on the last day of the previous month, we’ll waive the monthly fee.
Other services and fees include:
|Transferring money from your account at another Canadian bank||No charge|
|Direct deposit||No charge|
|ATM deposits||No charge|
|Mobile cheque deposit||No charge|
|Sending Interac e-Transfers®6||No charge|
|Debit card purchases in Canada||No charge|
|Withdrawals in Canada at ATMs that are part of THE EXCHANGE® Network||No charge|
|Withdrawals in Canada at ATMs that aren't part of THE EXCHANGE® Network*||$1.50|
|ATM withdrawals outside of Canada*||$3.00|
|Pre-authorized withdrawals||No charge
|Transferring money to your account at another Canadian bank||No charge
|Bill payments||No charge|
*ATMs that aren't part of THE EXCHANGE® Network may charge their own convenience fees for withdrawals.
Savings Sweeps can make it easier for you to reach your savings goals. Simply choose how much money you want to keep in your everyday banking account and the rest will be moved to your savings account at the end of each day. Remember, if you grow the balance of your savings account by $100 each month, we’ll waive your monthly banking fee!
When you don’t have enough available cash in your Everyday Banking account, but you do have money in your High-Interest Savings Account (HISA), secured overdraft can help you avoid non-sufficient funds (NSF) charges if you forget about an automatic withdrawal or an unexpected expense pops up.
Your secured overdraft limit is 75% of the balance in your HISA. For example, if you have $1,000 in your HISA, you can overdraw your Everyday Banking Account by up to $750. The maximum secured overdraft limit is $5,000, with a 15% interest rate that’s calculated daily. However, there are no daily or per use fees.
Here are the default daily limits for different transaction types:
- ATM withdrawals: $1,200/day
- Point of sale/debit transactions, including in-store cash back: $3,000/day
- Outgoing transfers: $50,000
- Interac e-Transfers: $3,000/transfer, $3,000/day, $10,000/week, and $20,000/month
These apply to most people, however, there are situations where individual limits may be different. Our limits are in place for your protection and to comply with regulations. If you have questions about your transaction limits or need to exceed that limit, give us a call.
- Fees are subject to change with at least 30 days of prior written notice.
- All fees are presented on a per item basis, unless otherwise stated.
- Additional convenience fees may apply when you make direct-payment purchases with your debit card.
1 Unlimited transactions, including Interac direct payments (debit), Interac e-Transfers, bill payments, and ATM cash withdrawals on THE EXCHANGE® Network, are covered in the monthly fee. At the end of every month, if the balance in your High Interest Savings Account is $100 higher than the balance on the last day of the previous month, we’ll waive the monthly package fee. Other fees may apply.
2 As of June 9, 2019, the Annual Interest Rate for the secured overdraft is 15%. It is calculated on the total daily closing balance and charged monthly. Rates are subject to change without notice.
3 At the end of every month, if the balance in your High-Interest Savings Account is $100 higher than the balance on the last day of the previous month, we’ll rebate the monthly fee.
4 Conditions and exclusions apply. Underwritten by The Manufacturers Life Insurance Company (Manulife) and First North American Insurance Company, a wholly owned subsidiary of Manulife. Manulife, P.O. Box 670, Stn Waterloo, Waterloo, Ontario, N2J 4B8.
5 Interest is calculated on the closing daily balance and paid monthly. Rate subject to change without notice.
6 ®Trade-mark of Interac Inc. Used under license. Fiserv EFT is the owner of THE EXCHANGE® trade mark and its associated rights. Fiserv EFT has granted FICANEX® the exclusive right to use, market and sublicense THE EXCHANGE® trade mark 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.
ManulifeMONEY+ Visa* credit cards available separately.
*Trademark of Visa Int., used under license.
Manulife, Manulife Bank & Stylized M Design, ManulifeMONEY+, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
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