2006 News Releases

High-interest personal and business accounts help clients earn more on US dollar deposits

Waterloo - Manulife Bank today announced the launch of their $US Advantage Account and $US Business Advantage Account. These high-interest investment accounts, available through financial advisors, offer growth for Canadians’ US dollar savings.

Clients receive a premium rate of interest on every dollar deposited in these accounts (currently 4.25 per cent)¹. Manulife Bank’s $US Advantage Account is available to Canadian residents with a US dollar bank account at a Canadian financial institution. Manulife Bank’s $US Business Advantage Account is available to incorporated and unincorporated organizations in Canada with an existing US dollar account at a Canadian financial institution.

“Canadians who do business in or travel frequently to the US often maintain a US dollar account to reduce the impact of currency fluctuation on their savings. But often these accounts pay little or no interest,” says J. Roman Fedchyshyn, President and CEO of Manulife Bank. “With a great rate of interest and no minimum deposit amount, our new US currency accounts help these US dollar savings to grow.”

By linking a $US Advantage Account or $US Business Advantage Account to their existing US dollar account at another Canadian financial institution, Canadians can get maximum benefit from their US cash savings. If their money isn’t immediately needed, they can transfer it to their Manulife Bank U.S. dollar account and earn a high rate of interest. When they need access to the money again, they can simply go online or call Manulife Bank and transfer the money back to their traditional US dollar account.

Since 1993, Manulife Bank—a wholly-owned subsidiary of Manulife Financial—has offered Canadians innovative banking products that can be integrated into a broader financial plan.

“Many Canadians already know the importance of including banking products in their financial plans. Working with an advisor will help ensure all components—including their US dollar savings—are integrated and work towards the client’s overall financial goals,” says Fedchyshyn.

The $US Advantage Account and $US Business Advantage Account join Manulife Bank’s suite of premium banking products, including the Advantage Account, a high-interest full-access chequing account for individual Canadians; Business Advantage Account, a high-interest investment account designed to help Canadian businesses earn income on their short-term cash; and Manulife One, Canada’s first all-in-one mortgage, chequing account and line of credit.

About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$381 billion (US$341 billion) as at September 30, 2006.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

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Media contact
Tom Nunn
Manulife Financial
(519) 594-8578
tom_nunn@manulife.com