Manulife Bank of Canada
The Manulife Bank of Canada (also known as Manulife Bank, French: Banque Manuvie) is a Schedule I federally chartered bank and a wholly owned subsidiary of Manulife Financial. Manulife Bank distributes its products and services primarily through independent financial advisors, supported by a cross-Canada network of more than 200 mortgage specialists. Manulife Bank does not have any physical branches; clients can conduct transactions such as online and telephone banking, convenience-fee free transactions at ABMs across Canada through The Exchange Network, direct payment purchases and chequing.
Manulife Bank is a member of Canada Deposit Insurance Corporation (CDIC).
Products and services
Manulife Bank provides financial products to the public through independent financial advisors, including:
High-interest bank accounts and investments
- Advantage Account and $US Advantage Account
- Business Advantage Account and $US Business Advantage Account
- Investment Savings Account and $US Investment Savings Account
- GICs
Mortgage products
- Manulife One
- Manulife Bank Select
- Manulife Bank One for Business
Loans & lines of credit
- Investment loans
- RRSP Loans
- Access Line of Credit
- MasterCard
History
Manulife Bank was established on January 1, 1993, when Cabot Trust Company, Huronia Trust Company and the Regional Trust Company were merged by Manulife Financial. Its branch network was sold to the Laurentian Bank of Canada later in 1993 and it became Canada's first bank to sell its products through independent financial advisors.
In 1999, Manulife One was launched – Canada’s first “all-in-one” account. Manulife One allowed Canadians to combine their mortgage and other debts with their chequing and savings accounts to simplify their banking and make their money work more efficiently.
In 2010, Manulife Bank established Manulife Trust Company (Manulife Trust) - a federally chartered trust company licensed to do business in all Canadian provinces and territories. Manulife Trust is a wholly owned subsidiary of Manulife Bank. Like its parent company, Manulife Bank, Manulife Trust is a member of the Canada Deposit Insurance Corporation (CDIC).
Today, Manulife Bank has offices in Waterloo, Ontario and Halifax, Nova Scotia and has a network of more than 200 mortgage specialists across Canada.
See also
- List of Canadian banks
- Manulife Financial - parent company
- Other virtual banks