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CIBC GIC is better

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

  1. Should i show u ?
  2. I received welcome letter and investment advice letter from cibc, after paying for gic. Is one of these my certificate or will cibc send it later?
  3. Show what ?
  4. Investment advice letter is what you should attach to you visa application.
  5. I would prefer CIBC over scotiabank. I assume you have choose payment mode as INR in CIBC! The Reasons are

    • if chosen CIBC you have to transfer money via RTGS/NEFT to CIBC’s India account at mumbai standard chartered. So it is fater and cheaper but in Scotia you have to wire transfer!
    • If you are not good in negotiating the conversion rate for dollar to rupee would be high for you in wire ransfer
    • It is definitely cheaper as if you choosen to pay in canadian dollar you have to pay $10200(2%fee) in scotiabank and $10150(1.5% fee) in CIBC if chosen CAD
    • CIBC issues certiticate in 2 business days after sending payment
    • I have heard that many times scotia rejects payment ( due to minor mistake in information in international wire tranfer )
    • There is only 1 option in scotia for getting a credit card ( you earn scene points- redeemable for movies) but in CIBC you have option for 3 types of credit card as per your need - CIBC Aventura(it is visa platinum), CIBC Divedend( for extra cashback, normal visa) and CIBC Aero ( for extra airmiles but has a yearly fee of $39)
    • Also you Earn $60 when you open a GIC between May 1, 2019 and September 30, 2019 on CIBC
    • you can also get $25 referral bonus (use email vrajshah229@gmail.com)
  6. Hello, it is the 4th day I transferd my funds to cibc bank yet I have not received gic certificate.
    what should I do ?
    I am already running out of time please help me
  7. Hello,
    There is a minor error in my account address and passport address will that effect my GIC
    account address
    Plot no xxx, xxx colony, Hyder nagar, Rangareddy,Hyderabad, PIN :500049, TELANGANA, INDIA

    Passport address
    Plot no xxx, xxx colony, Hyder nagar, Rangareddy, PIN :500049, TELANGANA, INDIA

    did anyone face a similar problem. Please help me out with this

    Thank you
  8. How much time it takes after you paid your gic to get the confirmation letter of gic from cibc?
  9. Have you got a payment received confirmation email? If yes, then you should get the certificate within a week. Or most cases 2 days. If you're in a hurry, try calling them or use the live chat option to know the status.
  10. No, it won't be problem with CIBC.
    My passport address and my bank address were both different, like in different states. I got my GIC with no problem. I confirmed this by chatting with a CIBC representative. Your name should match though.
  11. Thank you so much. I was really worried about it
  12. Thanks for the reply.
    Yes I got that 2 days back but not received gic confirmation certificate.
  13. Hi I have applied for GIC in CIBC but about A2 form should I fill the A2 form they provided in the instructions please help urgent
  14. Yes, you have to fill the A2 form the provided. You then have to print it out and sign it, scan the document and send it to the two mail id's they mentioned.
  15. Went with CIBC and transfer in INR. 2 questions:

    1. My bank manager, at Kotak Mahindra, could not receive confirmation from higher ups/head office that they could process the RTGS transfer. Said he would get back to me, but has not.

    2. Is there an issue later in Canada if the GIC is in my name at my bank/permanent address in Delhi, while my passport (from 2012) has my address from Pune, where I was teaching and living when passport was last renewed. (I have mostly lived in the US since then, and now there is no time to get any thing done about the passport as time's a runnin' out!)

    Thanks a million, y'all!

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