High-Interest Savings Accounts



That’s why we promote banking solutions that go one step beyond the traditional, brick-and-mortar banking experience.  And that’s why we dedicated an article to explaining how Boys Financial Services is different from other financial planners.

High-Interest Savings Accounts ARE Within Your Reach

We can set you up in a high-interest savings account with a Chartered, Schedule-A online bank — available as either a personally-owned OR corporately-owned banking account.  These accounts operate much the same way that traditional banking accounts do, with several key exceptions:
  • Higher interest rates, regardless of balance
  • No monthly fees
  • No minimum balance
  • Ongoing easy access to your money

High-Interest accounts can help your short-term savings grow by using a couple of different approaches to banking:

Primary Bank Account – For tech-savvy individuals who would rather conduct the majority of their banking on-the-go. This means less face-to-face banking and more online transactions.
Secondary Bank Account – For individuals who still want the brick-and-mortar experience of mainstream banks but don’t want to earn higher interest rates.

Consider the following at-a-glance table to learn the unprecedented features you get with both a Personal and Business high-interest accounts:

banking solutions
Personal Business
High interest rate on every dollar (regardless of balance)
Fully liquid
Online/phone banking (24/7 payments/transfers)
Debit purchases & ABM access n/a
Cheque writing
Any CDN ABM with THE EXCHANGE symbol n/a
Online/phone transfer
Direct deposit of income
In-person deposit at any Royal Bank
Mail cheque to ML Bank or local bank
Any CDN ABM with THE EXCHANGE symbol n/a
Online/phone transfer
Online/phone bill payment
Pre-authorized bill payment
Chequing (transaction fee; cheques not returned) no fee
Quarterly fee
Monthly fee fee
banking solutions
  • The floating interest rate is calculated daily and paid monthly
  • The interest rate is earned on all funds in the account
  • The interest rate is always subject to change
  • A Business account is not intended to be used as an operating account but can create real growth for a business’s excess short-term cash
  • A Business account is also available to charities, trusts, and non-profit organizations
  • Business accounts don’t offer a debit card
every dollar counts
We recommend a high-interest Business account with no monthly maintenance fees and no minimum deposit – a nice alternative to typical business accounts that pay little or no interest and still charge high banking fees.
For business owners who want to put excess cash to work, the Business account can help maximize the growth on cash not needed for day-to-day operations, and can be used by a broad range of incorporated and unincorporated business types such as:
  • Small businesses
  • Associations
  • Unions
  • Clubs
  • Trusts
  • Charities, and
  • Not-for-profit organizations

Online high-interest accounts are an attractive option for business owners because they allow you to
maintain a traditional operating account at a mainstream, brick-n-mortar bank while allowing the easy transfer of cash to an online account. This way, you have the benefit of ensuring a high rate of interest earned on every dollar in the account (with no minimum balance).

The funds in an online high-interest account can be easily transferred back to your operating account in a traditional bank when needed, via telephone transfers, writing cheques, or online transactions (including bill payments).

put your money to work

Whether you’re looking to simplify your business cash flow planning, or  you simply want the best savings plan for your personal banking needs, a HIGH-INTEREST savings account is a sound, 100% risk-free option that can help expedite your savings goals  by offering high interest rates and no monthly maintenance fees.


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If you already have an online account with Manulife Bank and need help walking through the steps of accessing it for the first time, please see our post on How to access your online bank account with Manulife Bank.