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Overview
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US$ Business Advantage Account works in conjunction with a business' existing US$ account at a Canadian financial institution and provides a high rate of interest* for every U.S. dollar on deposit. When your clients link a US$ Business Advantage Account to their US$ operating account at another Canadian financial institution, it's easy to move money back and forth electronically to meet their changing needs.
This account is a non-personal business account only and is available to incorporated and unincorporated businesses, organizations and trusts registered in Canada.
Important note: A processing delay will occur if all requirements are not fulfilled at the time the application is submitted. In particular, applicants must provide transfer information for their current US$ account at a Canadian Financial Institution. Please ensure you are logged into Advisor Portal and go to the Administration page for complete details.
Product summary
- A high-interest, non-personal investment account for U.S. dollars.
Tax status
- Non-registered
Availability
- Client name (off-book)
Minimum deposit
- None
Interest structure
A variable rate that is calculated daily and paid monthly on the entire balance.
Liquidity
- Fully liquid - no penalty for withdrawal.
Deposit options & account fees
All deposits must be in U.S. currency.
- Transfer money from a US$ account in the same business name at another Canadian financial institution.
- Mail a US$ cheque drawn on a Canadian financial institution to Manulife Bank.
No fees for any deposit method.
Withdrawal options & account fees
Fund transfer to another US$ account in the same business name at another Canadian financial institution. No fee
Statements
- e-Statements: Free semi-annually.
- Paper statements: Free semi-annually.
CDIC eligibility
- May be eligible.
Other personal accounts
*The variable annual interest rate is applied to all funds in the account. Interest is calculated daily on the total daily balance and paid monthly. Rate is subject to change.