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!



Here's what makes the Advantage Account different
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
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-Transfer1 | $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.
Opening a bank account online is easy and can take as little as five minutes! If you’re new to Manulife Bank, you’ll typically need to provide two pieces of ID to verify your identity, one of which being your Social Insurance Number (SIN). Banks are required by law to ask for your 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! First, both of you need to open an individual Advantage Account online so we can verify your identity. Then you can call us at 1‑877‑765‑2265 and request a joint account. You’ll both need to be available for the call.
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 the Manulife Bank mobile app on your phone.
2. Select Transfers from the bottom menu and then tap Link an external account.
3. Enter the details for your external bank account and follow the instructions on your screen.
4. It will take 2-3 business days for your bank accounts to be linked. Once the accounts are linked, sign into the app, select Transfers and tap Transfer money. Then enter the required details to complete the 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 5.00% promotional rate is for new deposits to a new personal, non-registered, Canadian-dollar Advantage Account. The promotional interest rate is made up of the regular posted annual variable interest rate of 2.85% and the variable annual promotional rate of 2.15%. Interest is calculated daily and paid monthly beginning on the date the account is opened and continuing 120 days (4 months) on net new deposits to a maximum of $500,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer is limited to one account per client and cannot be combined with other offers. The offer and rates are as of May 24, 2023 and subject to change without notice. Click here for full terms and conditions.
2 ®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.
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.
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