Manulife Bank today announced the launch of their $US Advantage Account and $US Business Advantage Account. These high-interest investment accounts, available through financial advisors, offer growth for Canadians’ U.S. dollar savings.

Clients receive a premium rate of interest on every dollar deposited in these accounts (currently 4.25% ). Manulife Bank’s $US Advantage Account is available to Canadian residents with a U.S. dollar bank account at a Canadian financial institution. Manulife Bank’s $US Business Advantage Account is available to incorporated and unincorporated organizations in Canada with an existing U.S. dollar account at a Canadian financial institution.

“Canadians who do business in or travel frequently to the U.S. often maintain a U.S. dollar account to reduce the impact of currency fluctuation on their savings. But often these accounts pay little or no interest,” said Roman Fedchyshyn, president and CEO, in a news release. “With a great rate of interest and no minimum deposit amount, our new U.S. currency accounts help these U.S. dollar savings to grow.”

By linking a $US Advantage Account or $US Business Advantage Account to their existing US dollar account at another Canadian financial institution, Canadians can get maximum benefit from their U.S. cash savings. If their money isn’t immediately needed, they can transfer it to their Manulife Bank U.S. dollar account and earn a high rate of interest. When they need access to the money again, they can simply go online or call Manulife Bank and transfer the money back to their traditional U.S. dollar account.