Changing the way you deposit foreign funds
As a result of changes with our third-party service providers, we can no longer accept cheques from foreign banks or financial institutions, effective immediately.
Now, you should have foreign funds sent to your account via wire transfer – which also gives you access to your money faster.
With wire transfers, the money is available within 1-5 business days, compared to cheques from foreign banks, which take 15-45 business days to clear. The faster clearing time also helps reduce exposure to fluctuating exchange rates.
We do charge a $15 fee for incoming wire transfers, and the sender’s bank may also charge a fee, so you’ll need to take those fees into consideration.
When somebody sends you a wire transfer, they must send the money in the currency of your Manulife Bank account. For example, if you have a Canadian-dollar Manulife Bank account, the wire transfer must be sent in Canadian dollars. If you have a US-dollar Manulife Bank account, the wire transfer must be sent in US dollars.
If you have any questions about the change, please get in touch.
Thank you for banking with us!