What is a Business Advantage Account?

If your company's cash is sitting in a traditional bank account earning little or no interest, you may be missing an important opportunity. Put that money to work in a safe high interest account and it can help your company achieve its goals.

1. Operating accounts are necessary but fees can really add up. Most accounts have a base monthly fee, plus extra fees for additional transactions. Use Business Advantage Account to hold surplus operating cash and generate income to offset their banking fees. The current rate is 1.50% The business will not incur any transaction fees if they only use Internet or telephone fund transfers to move money back and forth from the Business Advantage Account to their operating account.

2. Use a Business Advantage Account to deliver more interest. Some institutions actually use the words "savings account" for a product that offers 0% to 0.10% interest. Business Advantage Account always pays a premium rate of interest (currently 1.50%)

3. You don't need to change banks. You can still keep your current bank relationship. This account is simply offering a new way for you to save money. Link the two accounts together and transfer money back and forth as you need it.

4. You can maintain easy access to your money since it is never locked-in and there are no withdrawal restrictions.

The system is really risk-free. If this solution doesn't meet your business mandate, the account can be closed at any time.

Robert Tetrault
Financial Security Advisor

Manulife Securities
9800 Cavendish, Suite 200,
St Laurent, Qc