+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

CIBC GIC is better

Shubham123

Star Member
Jun 28, 2019
120
14
How are there two beneficiary numbers and names ?

In the payment instruction PDF you will have a table box with beneficiary name Canadian imperial bank of commerce, which will have a standard chartered bank IFSC code and bank account no. You have to transfer to that account.
Should i show u ?
 

siddhi_sharms

Newbie
Jun 4, 2019
3
0
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?
 

vrajjshah

Newbie
May 13, 2019
3
0
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)
 

Shubham123

Star Member
Jun 28, 2019
120
14
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)
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
 

sridurga

Newbie
Jul 5, 2019
2
0
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
 

notjonsnow

Full Member
May 13, 2019
46
11
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
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.
 

notjonsnow

Full Member
May 13, 2019
46
11
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
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.
 

sridurga

Newbie
Jul 5, 2019
2
0
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.
Thank you so much. I was really worried about it
 

Shubham123

Star Member
Jun 28, 2019
120
14
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.
Thanks for the reply.
Yes I got that 2 days back but not received gic confirmation certificate.
 
Jul 5, 2019
1
0
I also did my gic with cibc bank and received gic certificate in one day after transferring money. The A2 form is to be filled and mailed to the given mail id. It will be used by the intermediary bank and not the local bank with which you are doing RTGS/neft
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
 

selvakk

Champion Member
Nov 28, 2018
2,393
514
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
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.
 

ajaybyrd77

Newbie
Jul 2, 2019
5
0
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!