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CIBC GIC is better

Discussion in 'International Students' started by kk2018, Apr 4, 2019.

  1. CIBC is the best
     
  2. Hi I have spacing problem in first name. scotia bank is not responding yet.. So I am planning to go with CIBC. Can you elaborate the entire process step by step so that it will be helpful to me. Thanks in advance
     
  3. its a quite simple process

    1. register through https://isbo.cibc.com/#/payment
    (while paying please remember you can pay in various currencies. select $10200 as your amount.
    and write cpu0079@yahoo.com in the referral details at the ending of registration form to earn $25 bonus.)

    2. in 1 or 2 business days you will receive your payment instructions through mail.
    3. take a print of that 4 pages document with A2 form to your respective bank and pay through rtgs
    4. tell you bank to stamp on A2 form after payment (i advise you too pay $200 more than the exact amount in order to keep at-least $10000 in you GIC account) and scan A2 form and mail it to cibc
    5. you will receive you receipt in 2/3 business days.
     
  4. hi,
    if you read the entire thread you will be able to know mostly all the details
    but here are the details
    create account with cibc https://isbo.cibc.com/#/payment for "Select Payment Currency" option select CAD
    after 2 days they will send you details about the payment I don't think the space between your name will be problem but hope your passport name is proper for visa purpose.
    If you do the payment via your local bank like ICICI or HDFC is much more smoother then state bank or other nationalized bank as per my understanding.
    Once payment is done you need to fill up A2 and send it to CIBC (email) they will send you receipt with 1 to 3 working days so total of 5 to 6 working days for the full process.(Saturday/ sunday non working days here in Canada).
    if you want to get referral I can give you my email where you will also get $25 once you open bank account .
    hope this will help if you need more information you can DM me .
     
  5. 1
    10 days in whole process its easy
     
  6. Hey,
    Just got the approval from CIBC. Thanks for your support.
    I've got two files from CIBC. One is a welcome file and other is an Investment Advice Letter. Is that the GIC which I have to submit for VISA filing?
    Also, I had previously asked about different address in bank and pssport being a problem, which it didn't, but on the GIC letter my address is different from my passport, will it be a problem when filing for VISA?
    Thank you.
     
  7. Is your address totally different on gic file ? As in my previous post also I said that my cousin had minor difference in address so I selected CIBC. I made sure that her gic had proper address as on passport so later she will not have any problem.
     

  8. Mine is the same case.
    My Account Name as per my Indian account is in the format - Surname GivenNames while CIBC has created an account for me with the format GivenName Surname.

    Did you received the GIC Certificate from CIBC and how can we transfer funds to CIBC in INR ---RTGS or NEFT ?
     
  9. If your name on GIC is same as Passport then it will not be a problem for Visa too.
    Money is transferred as RTGC . ( as their domestic account is in India) details on the form
    received GIC certificate and visa also approved.
     
  10. Thanks for the help.

    Just wanted to know that RTGS is used for the funds transfer within India. Since the account will be a international account how the money transfer will take place through RTGS? Is there any intermediate account they create? Through rtgs money in INR will be deposited in this intermediate account and after that it will be transferred to the international account.

    Could you please explain the process?
     
  11. full process is there on the attachment (email send by CIBC). their intermediate bank is in Mumbai (I don't remember the name of bank but its on the form)
    read the details properly and still if you need help DM me .
     
  12. There is no such processing fees but I advice you to pay CAD150-200 more than the actual ammount just to be on a safe side. You have to pay through your Bank and this money will go to the Standard Charter Bank than money will reach CIBC.
     
  13. They said to write ISBO 2019 along with my name but i forgot to mention isbo 2019 with my name while transfering money. Is that an issue
     
  14. He is having GIC with CIBC bank where he need to transfer money in Indian rupees and the actual amount is there on the GIC details, there is no points of transferring extra that too in CAD.
     
  15. while submitting your A2 make sure you mention that you forgot to put ISBO 2019. I don't think it can be major problem.
     

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