Scotiabank GIC Process to follow from Pakistan

[hassanbhatti]

Thank you brother. so i just need to make sure the details provided are correct? baki woo sab kar lai ga right?

yes sir, make sure your name and address is the same as mentioned in your GIC profile and passport and there is no change, i had to defer to make because my banker messed up ad used my old address. it took me 15 days to get that rectified.

 

[EhteshamUllah]

yes sir, make sure your name and address is the same as mentioned in your GIC profile and passport and there is no change, i had to defer to make because my banker messed up ad used my old address. it took me 15 days to get that rectified.

okie boss i'll make sure of that IA. Thank you soo much for the help!!
And by the way account title isn't important like "MR ehtesham ullah" or just "ehtesham ullah" is okay?

 

[hassanbhatti]

okie boss i'll make sure of that IA. Thank you soo much for the help!!
And by the way account title isn't important like "MS ehtesham ullah" or just "ehtesham ullah" is okay?

there is no harm in using that. MR wont change anything, spelling mistake will

 

[EhteshamUllah]

there is no harm in using that. MR wont change anything, spelling mistake will

one more question cause i'll be wiring money tomorrow inshAllah, i have a joint account with my father. So any precaution to take for joint account?

 

[GMP97]

one more question cause i'll be wiring money tomorrow inshAllah, i have a joint account with my father. So any precaution to take for joint account?

make sure your name is in their alongwith your fathers name

 

[EhteshamUllah]

*update*
Manager plays a vital role in this process. Mine had messed up everything(address, Fields and purpose explanation) and Habib metro doesn't believe that it's for personal purpose and they want me to pay 5% tax which for sure i won't, even if i have to open another FC account in some other bank.

*MAKE SURE YOU HAVE A GOOD CONFIDENT MANAGER IN YOUR BANK*

 

[demme343]

I have recently (15/01/2020) got my GIC certificate from Scotiabank and because there is no clear information available online for Pakistani students I have decided to write the complete process which I followed, also I chose Scotiabank because they have branches everywhere in Canada, unlike Habib Canada.

1. Open GIC account: Follow the link to open GIC account on scotia (https://startright.scotiabank.com/student-gic.html)

a. (Note: If you have a middle name as I have mine Adnan Athar Janwari make sure you put your middle in 1st name column on scotia form with “-” because scotia form does not allow space in first name Example: Frist name as Adnan-Athar Last name as Janwari

b. The name should match with your passport name

c. Make sure you save or print screen the address whatever you mention on the Scotia form because you will need that exact same address while transferring funds.

(Timeline: takes few hrs to active)


2. Open foreign currency Account: For transferring funds you need to have foreign currency account (dollar account) in any bank (I used Bank Al Habib) and for that, you need to be tax filer 1st so be filler and open the foreign currency account ASAP ( Timeline: In my case, it took 1 week)


3. Fund Transfer:

Provide below info to the bank for fund transfer

Name: Enter the student’s first and last name [note: Enter exactly as stated in Passport].
Address: Enter the home address of the student as stated in the application.
Account Number: Enter the 15-digit Scotiabank Investment account number (provided above).



Beneficiary Bank Information (Field 57)
THE BANK OF NOVA SCOTIA
TRANSIT 35972 SSG Transaction Processing
4715 Tahoe Blvd
Mississauga, Ontario, L4W 0B4
SWIFT Code: NOSCCATTCOL



a. Note: Most of the students are paying 5% tax by mention Purpose of Remittance as “Study/something study related” GIC account is your personal so if you mention Purpose of remittance as personal you will save your 5% tax this what I did and received the certificate in 5 days

b. Send and receiver add should be (Pakistan one in both)

c. For safe side send 100 CAD more

d. (Timeline: Took five days to receive my GIC certificate after transition)



Doc bank asked in my case:

Passport copy

GIC Amount cheque

Print screen of my GIC account details.

Hope this will help.

You applied for visa ? If yes whats your time line plz share

 

[Adnanjanwari]

You applied for visa ? If yes whats your time line plz share

Applied on 31 jan and still waiting for final decision

 

[Huzaifa_Azhar]

Applied on 31 jan and still waiting for final decision

@Adnanjanwari
my GIC was rejected because according to the Scotiabank the funds transferred were not in CAD. According to my bank (allied bank} its not possible to transfer funds in cad dollars. They are saying we will send funds in usd dollars and the scotia bank will convert it into cad dollars. How should I avoid this problem next time as it is very time consuming.
Please guide me so that i can avoid this problem again...If someone have swift copy (gic transection copy) kindly share with me so that i can match the details and send it again

 

[Chaudhry Abdullah]

@Adnanjanwari
my GIC was rejected because according to the Scotiabank the funds transferred were not in CAD. According to my bank (allied bank} its not possible to transfer funds in cad dollars. They are saying we will send funds in usd dollars and the scotia bank will convert it into cad dollars. How should I avoid this problem next time as it is very time consuming.
Please guide me so that i can avoid this problem again...If someone have swift copy (gic transection copy) kindly share with me so that i can match the details and send it again

Please update me your status because i have made an account ( foreign exchange) in Allied bank as well . Let me know how you dealt with the problem

 

[Huzaifa_Azhar]

Please update me your status because i have made an account ( foreign exchange) in Allied bank as well . Let me know how you dealt with the problem

I got my gic after that but second time I open CIBC acc. I think CIBC is much better than Scotia because CIBC give us detailed instructions of the payment/transection. You should try CIBC as it is fast. In my case CIBC acc was opened in less than 24 hours or with in 3 days I got my GIC

 

[Chaudhry Abdullah]

Tha

I got my gic after that but second time I open CIBC acc. I think CIBC is much better than Scotia because CIBC give us detailed instructions of the payment/transection. You should try CIBC as it is fast. In my case CIBC acc was opened in less than 24 hours or with in 3 days I got my GIC

Thanks for the quick reply.

 

[Chaudhry Abdullah]

Tha

Thanks for the quick reply.

Can i have your other social media contacts as Im not on whatsapp. I have some questions to ask .

 

[Huzaifa_Azhar]

Can i have your other social media contacts as Im not on whatsapp. I have some questions to ask .

Sure. You can contact me on instagram. My id. is huzaifa__azhar

 

[Chaudhry Abdullah]

Sure. You can contact me on instagram. My id. is huzaifa__azhar

I have sent a follow request , my acc is tnaxtna. The form my bank gave me requires IBAN number , whereas there is none for my scotia bank .