Transferred just $10,000 CAD to GIC by mistake

[Anshul]

Hello,

Yesterday I made a wire transfer of $10,000 CAD to GIC without noticing that an additional $100 needs be to sent for processing, etc.
I have contacted GIC but they have not responded till now.

What should I do? Will it be alright if I make the wire transfer of additional $100CAD now ?

 

[sabby2612]

I believe you are applying for September intake and you do have enough time with you. Yes, you are right, you should had transferred 10,100 CAD where 100 CAD is the non-refundable admin fee without which they won't process your GIC. Now, you must have received a secured link of scotia where you have an email address with them. I would suggest you send an email from that ID and not to forget the process;
Email must be in the following format;

newaccount@scotiabank.com stating Subject: Follow up- Scotiabank Student GIC Program – Last Name, First Name and Date of Birth (dd/mm/yyyy) to help us investigate and respond to you.

cheers!

 

[Anshul]

Thanks for the quick reply .

"General queries, if any, must ONLY be
addressed to studentgic@scotiabank.com
and should only be sent from the email
address used in your original application.
 The Subject Line must include the Student
Name (First and Last), Date of Birth, Passport
Number and the GIC IP Number (if known)."

-From application guide

They are also asking to write certain GIC IP number(if known) in the subject line of mails regarding general queries. I have no idea what it is.

 

[sabby2612]

First of all, it's not a general query, its specific to your account. I have done the same and shared the same experience with you. IP number is your account number which is mentioned in the email that you received from Scotia where they directed you to transfer the funds. And even if you send email from the secure link they sent you, it will land in the same inbox and will have your corresponding (original email address)

cheers!

 

[Anshul]

Thanks,
I have mailed them the query. I hope they reply fast .

 

[Anshul]

Just in case anyone comes up with the same query in future, here I am writing the response that I received from GIC


"Dear Applicant

Further to your query, you will be required to remit to Scotiabank $10,000 CAD for the GIC plus $100 CAD to cover administrative fees. If Scotiabank receives less than the prescribed amount of $10,100 CAD, the money will be returned to your bank account at the bank where the original remittance was made, and the GIC will not be processed.

Please email your request to newaccount@scotiabank.com stating Subject: Follow up- Scotiabank Student GIC Program – Last Name, First Name and Date of Birth (dd/mm/yyyy) to help us investigate and respond to you.

For all subsequent follow up emails, please include the email history so we may properly respond to your additional queries.

Sincerely,
__________________________________________________________
Scotiabank Student GIC Program "

 

[Anshul]

I received another mail from Scotia Bank stating that they have not rejected my funds of $10,000 CAD and I can pay $100CAD upon arrival in Canada

 

[sabby2612]

Which means they will give you GIC coz you gonna need that to submit with your visa file.

Cheers!

 

[Harry005]

Hi there,

I have got the same query about $100 admin fees. I also request them to send $100 immediate wire transfer just before 10 minutes.
Can you suggest me about this query?
Please

 

[sudan.r]

can third person transfer the funds in my account??????????????????

 

[Harry005]

Which means they will give you GIC coz you gonna need that to submit with your visa file.

Cheers!

Hi there, What did you tell them in email? I have got reply that please advise your bank to recall funds as we will not process the partial funds.
I am worried cause I have applied for July intake at Conestoga and time period for visa application is very short.

 

[ritesh123navale]

Hi,
I received same reply to recall the funds but haven't provided any guidelines to recall the funds.
Can anybody share their experience about how to convince scotia bank to accept the funds.
Recalling may take several weeks and I will miss the deadline of VISA for this year.

Thanks

 

[Josh21]

If I had to guess, just try and beg them to consider it and offer to pay on arrival or ask if its possible to send 100$ now immediately.

Recalling the funds is a very time consuming process. You're Indian Bank might even refuse such a request.

 

[sabby2612]

Well, process is to recall the funds. However, I have seen a few cases where Scotia said "you can pay the admin fee separately". Write an email to new accounts and see if they can help you out... otherwise, you need to recall your funds and initiate another payment.

Cheers!