Manulife Bank’s fee structure is simple: the Advantage Account is free with a $1,000 minimum balance. Unlimited transactions, unlimited e-Transfers, and fee-free ATM access through THE EXCHANGE Network are all included. Below that $1,000 threshold, a monthly fee applies.
Advantage Account Fee Summary
| Feature | Cost |
|---|---|
| Monthly fee (balance ≥ $1,000) | $0 |
| Monthly fee (balance < $1,000) | Fee applies — see account agreement |
| Transactions (debit, bill payments) | Unlimited, included |
| Interac e-Transfers | Unlimited, free |
| THE EXCHANGE Network ATMs | $0 |
| Out-of-network ATM | Fee applies (Manulife surcharge + operator) |
| Mobile cheque deposit | $0 |
| Visa debit | Included |
Minimum Balance Requirement
The $1,000 minimum balance requirement is the primary fee consideration:
| Balance | Monthly Fee |
|---|---|
| $1,000 or more | $0 |
| Below $1,000 | Monthly fee applies |
For Canadians who regularly maintain at least $1,000 in chequing, the Advantage Account is entirely free — and earns ~3.10% interest on that balance simultaneously. At $1,000, that is approximately $31/year in interest earned at no cost.
Manulife Bank vs Competitor Fee Comparison
| Bank | Monthly Fee | Fee Waiver | e-Transfers | Interest on Chequing |
|---|---|---|---|---|
| EQ Bank | $0 | None required | Unlimited, free | ~3.50% |
| Manulife Bank | $0 | $1,000 balance | Unlimited, free | ~3.10% |
| Simplii Financial | $0 | None required | Unlimited, free | ~0.10% |
| Tangerine | $0 | None required | Unlimited, free | ~0.10% |
| National Bank (Digital) | $0 | None required | Unlimited, free | 0% |
EQ Bank offers slightly higher rates but does not have a Visa debit card (it uses a Mastercard Prepaid card for spending). Manulife Bank’s Advantage Account functions as a true chequing account with full Visa debit, bill payments, and cheques — an important operational distinction.
NSF Fees
Manulife Bank charges NSF fees for returned transactions. The specific amount is disclosed in the Advantage Account Terms and Conditions — contact Manulife Bank at 1-877-765-2265 or review your account agreement for the current rate. NSF fees at Canadian banks typically range from $40 to $48.
Wire Transfer Fees
| Wire Type | Fee |
|---|---|
| Domestic wire (outgoing) | Fee — see account agreement |
| International wire (outgoing) | Fee — see account agreement |
Manulife Bank’s wire transfer fees are not prominently listed publicly. For large transfers, contact Manulife Bank directly or use EFT (linked external account via online banking) for no-fee transfers on a 1–3 business day timeline.
TFSA, RRSP, and GIC Fees
| Account | Monthly Fee | GIC Minimum |
|---|---|---|
| TFSA savings | $0 | — |
| RRSP savings | $0 | — |
| RRIF | $0 | — |
| GIC (non-registered, TFSA, RRSP) | $0 | Varies — contact bank |