Savers Roundup June 2019: More online bank options; Manulife’s All-in Banking Package; 2.75% on USD savings

More nationally available Manitoban credit unions

Credit unions based in Manitoba routinely offer some of the highest savings account interest rates on our chart. Several more Manitoban credit unions have become nationally available with online account opening processes. Access Credit Union, Fusion Credit Union, Niverville Credit Union, and Rosenort Credit Union were recently highlighted in our forum, with competitive savings account interest rates (including up to 2.85% in a TFSA) and GICs (up to 3.20% for a 5-year term). Please share your experiences and questions!

Bridgewater Bank, Hubert Financial, and Peoples Trust rate decreases

Although we haven’t seen many interest rate decreases lately, a couple of notable ones include Bridgewater Bank decreasing its regular savings account interest rate from 2.50% to 2.35% and Hubert Financial decreasing its regular savings account and TFSA interest rates from 2.35% to 2.25%. In Hubert Financial’s case, this followed a drop from 2.50% to 2.35% in April. The chart leaders are unchanged: Motive Financial has a 2.80% regular savings account, while motusbank has a 2.50% TFSA.

Last month, Peoples Trust dropped its GIC rates; current GIC chart leaders are Oaken Financial for 1-4 year terms and Ideal Savings for a 5-year term.

Manulife’s new All-In Banking Package

Following the launch of its 3.25% for 6 months savings account promo (which is still available), Manulife has a new account type, which is actually several combined offerings: a chequing account, savings account, credit card, and travel insurance, as well as 1 year of free Amazon Prime. It has a $10 monthly fee, which is waived every month that you increase your balance by at least $100. Will this become a real competitor for day-to-day banking, and will we start to see better reviews of Manulife Bank?

Tangerine Bank’s latest targeted promotion includes US dollar savings accounts

A new detail in Tangerine’s continuous targeted promotions is that its latest offer of 2.75% for new deposits (until November 30, 2019) includes USD funds. If you’re a current customer, check the “Insights” tab in your online account to see if you have received the offer. If you’re not a current customer, their “2.75% for the first 6 months” offer also covers US dollar savings accounts.

More promotions

• Targeted promo on the CIBC eAdvantage Savings Account: 3.00% on new deposits until July 31, 2019
• Luminus Financial 5-year escalator GIC with 3.50% average interest rate (1.50%, 2.50%, 3.50%, 4.50%, 5.50% for years 1-5)
• motusbank: 3.10% for an 18-month TFSA or RRSP GIC; 3.25% for a 5-year RRSP or TFSA GIC motusbank: 3.10% for an 18-month TFSA or RRSP GIC
• See all current promotions

More news and discussions

• motusbank is out of debit cards until the end of June
• MAXA Financial’s fees include $20 to add an electronic funds transfer (EFT) and $5 to change an existing EFT setup
• WestJet RBC World Elite Mastercard: good value for semi-frequent flyers
• Rumour: Amazon.ca is coming back with a credit card; this time a Mastercard?