GIC Wire Transfer
- Thread starter Ravinder Reddy
- Start date
wait what? sbi charges 100 cad in addition to 10200 or only 100 cad because from me they took definitely took more than 100 and i ended up paying 10300 cad or something in total
Dude i paid only 10200 from icici , these extra 200 are the charges , icici charged me an additional 1200 rupees for wire payment though . I don't understand why sbi taking so much money.
SBI charges 30$... this is because they have route your transfer through a Canadian bank. So they have to pay commmission to them also. Icici can do a direct transfer since they are already present in Canada so you might not need to transfer it with your 10200 cad.
For your information 1200 rupees charged by icici is equal to 24cad and sbi charges 28cad you’ll get 10002cad in your GIC if you transfer 10230cad from sbi. I don’t see a major loss in choosing sbi because the conversion rates for sbi is much cheaper than icici. You’ll actually save more choosing sbi.
To detail the math: sbi charged me 51.7 rupees per cad. For transferring 10230 I paid 5,28,890 INR
With icici though I have to do only 10200cad. They charged 53.1 rupees per dollar. Which means I have to transfer 10200*53.1 which is 5,41,600.
These conversion rates keep changing. Only if icici conversion rate is less than sbi per CAD you’ll benefit. Else sbi is the clear winner.
Lastly Scotia bank themselves say to transfer more than 10200cad to avoid any additional charges that you might not be aware of by your home bank.
Disclaimer I’m not an sbi agent just want to help you save you every paise in your transaction
For your information 1200 rupees charged by icici is equal to 24cad and sbi charges 28cad you’ll get 10002cad in your GIC if you transfer 10230cad from sbi. I don’t see a major loss in choosing sbi because the conversion rates for sbi is much cheaper than icici. You’ll actually save more choosing sbi.
To detail the math: sbi charged me 51.7 rupees per cad. For transferring 10230 I paid 5,28,890 INR
With icici though I have to do only 10200cad. They charged 53.1 rupees per dollar. Which means I have to transfer 10200*53.1 which is 5,41,600.
These conversion rates keep changing. Only if icici conversion rate is less than sbi per CAD you’ll benefit. Else sbi is the clear winner.
Lastly Scotia bank themselves say to transfer more than 10200cad to avoid any additional charges that you might not be aware of by your home bank.
Disclaimer I’m not an sbi agent just want to help you save you every paise in your transaction
Last edited:
they charged me way more than that i asked the manager and she wasn't aware about the gic scheme of sbi. Will the extra money be returned?SBI charges 30$... this is because they have route your transfer through a Canadian bank. So they have to pay commmission to them also. Icici can do a direct transfer since they are already present in Canada so you might not need to transfer it with your 10200 cad.
For your information 1200 rupees charged by icici is equal to 24cad and sbi charges 28cad you’ll get 10002cad in your GIC if you transfer 10230cad from sbi. I don’t see a major loss in choosing sbi because the conversion rates for sbi is much cheaper than icici. You’ll actually save more choosing sbi.
To detail the math: sbi charged me 51.7 rupees per cad. For transferring 10230 I paid 5,28,890 INR
With icici though I have to do only 10200cad. They charged 53.1 rupees per dollar. Which means I have to transfer 10200*53.1 which is 5,41,600.
These conversion rates keep changing. Only if icici conversion rate is less than sbi per CAD you’ll benefit. Else sbi is the clear winner.
Lastly Scotia bank themselves say to transfer more than 10200cad to avoid any additional charges that you might not be aware of by your home bank.
Disclaimer I’m not an sbi agent just want to help you save you every paise in your transaction
Hey guys! I got my gic today.
Now i have all the documents ready.
IELTS 7.5 not less than 6.5
12th - 84.8%
10th - 9.4 CGPA ( out of 10 )
Bank statements of my father and grandfather ( They both are my sponsors) showing 9 lakh in bank and 2 FDs( 5 lakh and 6 lakh ) so total 20 lakh
ITRs of my father and grandfather showing total annual income 13 lakh
Affidavit of sponsorship/financial support from both my dad and grandfather
A strong SOP
1 semester fees paid
GIC Done
Upfront medical done on 1 June
Offer from university of calgary
Please let me know if anything is missing , and one more thing , should i pay my 2nd semester fees as well?
If i pay today , i will get receipt till 10th July .
What do you guys suggest?
Now i have all the documents ready.
IELTS 7.5 not less than 6.5
12th - 84.8%
10th - 9.4 CGPA ( out of 10 )
Bank statements of my father and grandfather ( They both are my sponsors) showing 9 lakh in bank and 2 FDs( 5 lakh and 6 lakh ) so total 20 lakh
ITRs of my father and grandfather showing total annual income 13 lakh
Affidavit of sponsorship/financial support from both my dad and grandfather
A strong SOP
1 semester fees paid
GIC Done
Upfront medical done on 1 June
Offer from university of calgary
Please let me know if anything is missing , and one more thing , should i pay my 2nd semester fees as well?
If i pay today , i will get receipt till 10th July .
What do you guys suggest?
Looks good
Make sure of following things:
1. All the photocopies, printout etc... that you submit should be clear, legible and ink quality should be good. Avoid submitting blackish smudge or blur printouts or photocopies.
2. Don't attach small size photocopies, printout etc.. It should have Big Fonts, Big image size etc... on A4 size paper.
3. All the photocopies of Educational documents that you submit must be Notarized, Dated and should be rubber stamped as "TRUE COPY ATTESTED" or something like that.
4. All Bank related statements, certificates and documents etc.. should be duly signed and stamped by bank official. Don't just submit online printout.
5. Go through the IMM checklist multiple times so that you don't miss submitting any required documents.
6. If you have money then pay for 2nd Sem to make your case more strong.
Good luck !
Thanks for the detailed answer bro. It matters a lot. I will get the documents attested tomorrow.Looks good
Make sure of following things:
1. All the photocopies, printout etc... that you submit should be clear, legible and ink quality should be good. Avoid submitting blackish smudge or blur printouts or photocopies.
2. Don't attach small size photocopies, printout etc.. It should have Big Fonts, Big image size etc... on A4 size paper.
3. All the photocopies of Educational documents that you submit must be Notarized, Dated and should be rubber stamped as "TRUE COPY ATTESTED" or something like that.
4. All Bank related statements, certificates and documents etc.. should be duly signed and stamped by bank official. Don't just submit online printout.
5. Go through the IMM checklist multiple times so that you don't miss submitting any required documents.
6. If you have money then pay for 2nd Sem to make your case more strong.
Good luck !
Nova Scotia do replies on Saturday or Sunday because I have paid my gic on 28th June and today is 7th July I haven't got any mails about it please help
If supposed my gic has been but today it has been an whole week 2 days extra they haven't given me any mail of rejection so it can that they have excepted my money please help