Can an insurance company do banking better? Manulife takes a stab at it

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Can an insurance company do banking better? Manulife takes a stab at it GlobeInvestor

Two words you never thought you’d say in imagining a brighter future for chequing and savings accounts: Manulife Bank.

The core of All-in is an unlimited transaction account that costs $10 per month, compared to $14 to $16 for similar big bank accounts and zero at an increasing number of alternative online banks. The All-in account goes down to zero in fees in a month where you add $100 or more to a savings account that comes as part of the package.

The fourth part of the All-in package is travel interruption insurance offered by Manulife. Finally, as a sweetener, Manulife is offering people who sign up for All-in one year of Amazon Prime, which otherwise costs $79. Amazon Prime offers free delivery of Amazon orders plus access to TV shows and movies.

 

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