Last year, we both took six months off work and traveled around the world. A once in a lifetime opportunity made possible by the freedom of being able to “borrow from ourselves using the flexibility of our Manulife One account. Now I am training to be a pilot and, again, we are using the flexibility of the account to help finance the training. There were no visits to the bank to ask for loans with high interest, no paperwork to fill out. I simply withdraw from my own account to pay for my training and my paycheque still deposits automatically to help the mortgage go down.

We simply cannot believe that more people are not using it. I love the easy-to-read statements and watching the numbers go down! We tell all our friends. We really love this product!”

“The online banking is very easy to use. We really like the way it’s easy to set up bill payments, track our account history and get accurate information online. This saves a lot of time.

My wife went on mat leave in the second year of our Manulife One account so we had less income for one year but we didn’t notice a thing financially. We were able to use the account to slowly increase our debt while she was off work and, when she went back, we were able to bring our debt load lower again. I am on commission so my income can vary quite a bit from month to month. With Manulife One, this isn’t a problem. Big deposits reduce our mortgage and interest immediately while any increase in debt is only charged when we spend a little more than we make. This is a fantastic plan!”

It is easer to manage our spending habits as we can now see, on a daily basis, how much we are spending and on what. You can more easily manage your expenses and the money is available if and when you need it. I would encourage

"One example of the convenience of this came about in February, 2007. I had taken my 2004 Volkswagen (VW) diesel Jetta over to Red Deer for service. The dealer called me into his office to say he had just got a shipment of 2006 Sport Jettas in and had a deal for me – a four-year lease with lower payments than I had on the 2004 I was driving. The catch was he would only allow me $17,000 for my trade-in. Being an ex farm equipment dealer, I knew I could sell it privately for $23,000 to some family friends.

So I agreed to the new lease deal and told him to get me a payout from VW Credit. He faxed this to me the next day. I then phoned Manulife Bank and asked them to courier a bank draft for the payout to VW Finance in Ontario, setting this up as a sub-account on my Manulife One so I could track the interest as a business expense, which arrived there the next day. Three weeks later, I sold the Jetta for $23,000 cash and paid off the sub-account balance owing and deposited the $6,000 profit to our Main balance. The few weeks interest was peanuts and I had a documented record of the sub-account interest to use as a deductible business expense, all with no hassle and done over the phone. Plus, since the payment got to VW credit a day earlier than expected, they mailed me a cheque for the interest savings, which was another bonus to all of this.

One couple we helped are a great example of how consolidating credit card debt and a high-interest vehicle loan could make a major difference in their life. They had more than 50% equity in their home but had maxed out credit cards and had a truck loan at 8%. We got them approved for a Manulife One and they paid off the credit cards and the truck loan by rolling those balances into their Manulife One. This alone instantly saved them very significant monthly interest cost. We helped them to understand how the prudent use of a credit card and paying the balance off in full every month helps to accelerate the pay down of their Manulife One balance. They are now strong advocates for it and are referring friends and family to us to set up their own plans."

We are both pleased to be able to successfully manage our spending in order to get debt-free sooner!

We met with a Banking Consultant at a coffee shop a few days later and he told us more about Manulife One. When we left one hour later, we still didn't understand everything but one thing was very clear – the interest charges on our total debt would be reduced by 40%. Also, all the debt would be consolidated into one monthly payment plus only $14 each month in total banking fees. We were paying more than $14 every month for overdraft protection and service charges at our existing bank. We wanted to save money so we agreed to sign up. The process was different than what we are used to – the representatives came to our house. They were all very professional and did a great job for us.

Manulife One works for us because we see our spending patterns online as they happen and also as a monthly summary. We know exactly where we are financially on any day, and have opportunities to make adjustments. We're not debt-free, but we're on the road and we're very happy with this different way to bank.

Thanks to Manulife One, we no longer needed to worry about having enough money for credit card bills, mortgage payments, etc.... Our paycheques go in, we pay our bills when they arrive, and so long as we spend less than we make, everything else takes care of itself. Unexpected bills are no longer a source of stress – if our balance goes up one month in the year, that's really no problem so long as we're disciplined overall. Having Manulife One allowed us to move from our first to our second home years earlier than expected, and to do a major renovation on the second home as soon as we moved in. I've since told co-workers and friends about this product, and several have signed up.

Frankly, conventional mortgages just seem old fashioned to me now - a huge waste of money - like paying the minimum balance on your credit card. When I think that in the past I would pay a penalty if I paid down my mortgage too fast, I shake my head and laugh. What kind of a system is that? Watching the balance go down month after month is hugely gratifying, and it gives me a clear picture of my overall financial health. To make things even better, I pay for everything I buy with a credit card that gives rewards then I pay the balance off before I pay any interest on that credit card. This way I even save the daily interest on those purchases. It's not a lot on a month to month basis, but over the life of my mortgage, it will be thousands of dollars. Because of Manulife One, I'll retire earlier and live better in the meantime. It's simply the best financial decision I've ever made.