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CIBC GIC is better

Aug 16, 2019
18
3
I am not aware of anything like this... but it could be possible that while filling out the online form, you selected other options other than the GIC. However, as CIBC confirmed that they will transfer fund to GIC, then you should be good. Only concern is that you have to wait for some time to get the letter.
So finally, I got my GIC confirmation. I called CIBC customer care again and clarified the whole procedure. They said that initially funds are deposited into the chequing accounts which is a kind of deposit account from where GIC investment is made. This will be the account which will be activated after we arrive in Canada. I just made a request to process it by stating that my funds are already lying with CIBC account and got the confirmation email. The investment letter and welcome letter were processed and uploaded on the portal.

Thank you so much for your guidance.
 
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MRPB10

Star Member
Aug 24, 2019
92
14
Hi Everyone please tell me which currency mode option is better CAD or INR.....Because there is 150$ saving if I select payment mode in INR...and I also want to know that is there any disadvantage to choosing INR instead of CAD
 
Aug 16, 2019
18
3
Hi Everyone please tell me which currency mode option is better CAD or INR.....Because there is 150$ saving if I select payment mode in INR...and I also want to know that is there any disadvantage to choosing INR instead of CAD
There is no disadvantage in choosing INR currency for making payment. Rather it has advantages like:-
1. You will pay 10000 instead of 10150
2. You will pay via RTGS which is easy mode of payment instead of wire transfer which takes alot of time to process.
3. You can even make payment through internet banking if it’s not feasible for you to go to bank.
4. RTGS is usually processed in few hours of payment.

So it’s better to choose INR. You will get payment instructions to make RTGS into the concerned bank, i.e. Standard Chartered Bank.
 

MRPB10

Star Member
Aug 24, 2019
92
14
There is no disadvantage in choosing INR currency for making payment. Rather it has advantages like:-
1. You will pay 10000 instead of 10150
2. You will pay via RTGS which is easy mode of payment instead of wire transfer which takes alot of time to process.
3. You can even make payment through internet banking if it’s not feasible for you to go to bank.
4. RTGS is usually processed in few hours of payment.

So it’s better to choose INR. You will get payment instructions to make RTGS into the concerned bank, i.e. Standard Chartered Bank.

Thnx Bro...You explained it very briefly thnx a lot.....Actually I was thought if I select INR my currency mode then maybe CIBC issued me GIC certificate with INR amount.
 

Nishiroy

Member
Jun 20, 2019
15
0
Hi
Hello,
In my CIBC registration form, under "Purpose of GIC" I put "Travel for Education" instead of personal expenditure. Will that be an issue, since I realized later that GIC is for my day to day expenses and not college/hostel fees.

Also, my address in bank is different from my passport. I entered the passport address in CIBC form and thats printed on the A2 form. The bank may object, what should I do?
Hi,

Did the address difference created an issue with ur GIC?
 

Arshdeep123

Newbie
Aug 6, 2019
7
0
I chose cibc for my gic
I did payment on 5 Sept (3.00 pm ist) and mailed scanned copy...
But i didn't received any payment confirmation mail or any other mail from cibc...
Is it usually happens or is something wrong?
Please reply
 
Aug 16, 2019
18
3
I chose cibc for my gic
I did payment on 5 Sept (3.00 pm ist) and mailed scanned copy...
But i didn't received any payment confirmation mail or any other mail from cibc...
Is it usually happens or is something wrong?
Please reply
In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.
 

Arshdeep123

Newbie
Aug 6, 2019
7
0
In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.
Thanks for your precious info
 

Arshdeep123

Newbie
Aug 6, 2019
7
0
In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.
I had received email ...
In which 2 pdf's are include
Investment advice letter and welcome letter
Which pdf is used for immigration purposes..?
Please reply
 

susanjoy

Newbie
Jul 19, 2019
3
0
A2 form just fill the RTGS or NEFT refrence number ..and your saving account number rest on next page your signature thats it..you can do it by your own later scan and email cibc..
Hello ..
Im planning to apply GIC through CIBC. In my payment instruction, i can see "AD code No." and "Form No." in top right corner of page 3 and "Name of AD branch" in page 3. Pls help me on this.
 

aryansood89

Star Member
Jan 17, 2019
183
20
Toronto
LANDED..........
12-12-2019
Hello ..
Im planning to apply GIC through CIBC. In my payment instruction, i can see "AD code No." and "Form No." in top right corner of page 3 and "Name of AD branch" in page 3. Pls help me on this.
You only need to fill transaction reference number account number from which amount is transferred , Bank name and address and your signature and date only...
 

overcomers

Newbie
Sep 12, 2019
5
0
What about the GIC receipt? Did they send a CIBC receipt or a receipt of the bank in Mumbai where they have vostro account. I will be transferring funds in two days. Just have this concern. Thanks