Institution profile · Domestic bank (Schedule I)
Manulife Bank
ActiveManulife Bank of CanadaCDIC
Manulife Bank of Canada is a Schedule I bank owned by the insurer Manulife. It is known for the Manulife One all-in-one mortgage and banking account.
Profile facts checked October 30, 2026
At a glance
- Legal name
- Manulife Bank of Canada
- Type
- Domestic bank (Schedule I)
- Owner / parent
- The Manufacturers Life Insurance Company
- Head office
- Waterloo, ON
- Founded
- 1993 — Manulife states the bank was established in 1993.
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Cheapest everyday account
- Advantage Account (chequing & savings) — $504 a year for the Everyday example
- Best posted savings rate
- 1.5% on $10,000 (Advantage Account (savings & chequing))
- OBSI banking cases
- 11 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.manulifebank.ca
Deposit protection
CDIC member. Manulife Trust Company is a separate CDIC member.
Our assessment: 38.1/100, #13 of 13 in our bank review
Strongest on app rating. Trails on everyday cost and branch and ATM access. Cheapest account for everyday use: $504 a year. No branches; THE EXCHANGE network.
Cost 9 · Access 40 · Savings rate 55 · App rating 89 · not scored: service. How the review works.
Manulife Bank chequing accounts and what they cost
Manulife Bank lists 1 chequing account with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Advantage Account (chequing & savings) at $504 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Advantage Account (chequing & savings) | No monthly fee | None included (each one is charged) | $504 |
Manulife Bank savings accounts and posted rates
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| Advantage Account (savings & chequing) | 1.5% | No monthly fee |
On the official lists
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Manulife Bank of Canada | OSFI — Schedule I domestic bank | Yes |
| Manulife Trust Company | OSFI — trust company | Yes |
Facts, with sources
- Schedule I bank and wholly owned subsidiary of The Manufacturers Life Insurance Company; Manulife says it was the first federally regulated bank opened by an insurance company in Canada.Source: manulife.com
- Offers the Manulife One all-in-one mortgage and banking product.Source: manulifebank.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Manulife Bank’s accounts against everyone else’s.
Complaints that reached the ombudsman
OBSI, the ombudsman for banking, opened 11 banking cases about Manulife Bank of Canada in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 12, and resolved 5 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
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