GIC refund Help
- Thread starter rahul_cgp
- Start date
GIC can be refunded once you cancel your status of student. If you are deferring your term/intake, then you needn't withdraw GIC. But if you are not going at all, then the visa needs to be cancelled and the process is as follow;
A. Full redemption of the outstanding principal of your GIC cannot occur prior to the Maturity Date unless
you provide us with proof that:
I. your Study Permit has been declined. Please provide us with a copy of the “Refusal Letter”
issued by the Canadian High Commission; or
II. your application for admission to a Canadian educational institution has been declined; or
III. you have withdrawn from enrolment at the Canadian educational institution after your
arrival in Canada. Please provide us with a copy of the cancelled Study Permit from the
Canadian High Commission office in India.
Please note: upon receipt of proof of any of these events and confirmation from the Canadian High
Commission, we will redeem the outstanding principal plus, for GICs outstanding for more than thirty days,
any accumulated interest. The refund may take up to 8 weeks from the date the GIC Refund request is
received from the applicant.
In order to process your refund, Scotiabank Canada will require the following to be emailed in one (1)
single PDF file to newaccount@scotiabank.com:
-the 3 pages of your refusal letter as provided by the Canadian High Commission;
- the original TT Receipt;
- and the completed Refund Wire Transfer Form (found in the “How to request a refund”
tab of our website)
Note: the subject line of your email should state: Refund Request - IP number, passport
number and date of birth
A. Full redemption of the outstanding principal of your GIC cannot occur prior to the Maturity Date unless
you provide us with proof that:
I. your Study Permit has been declined. Please provide us with a copy of the “Refusal Letter”
issued by the Canadian High Commission; or
II. your application for admission to a Canadian educational institution has been declined; or
III. you have withdrawn from enrolment at the Canadian educational institution after your
arrival in Canada. Please provide us with a copy of the cancelled Study Permit from the
Canadian High Commission office in India.
Please note: upon receipt of proof of any of these events and confirmation from the Canadian High
Commission, we will redeem the outstanding principal plus, for GICs outstanding for more than thirty days,
any accumulated interest. The refund may take up to 8 weeks from the date the GIC Refund request is
received from the applicant.
In order to process your refund, Scotiabank Canada will require the following to be emailed in one (1)
single PDF file to newaccount@scotiabank.com:
-the 3 pages of your refusal letter as provided by the Canadian High Commission;
- the original TT Receipt;
- and the completed Refund Wire Transfer Form (found in the “How to request a refund”
tab of our website)
Note: the subject line of your email should state: Refund Request - IP number, passport
number and date of birth