First of all i'm very sorry to hear about your father.
Q. How can I get my money back if my Study Permit is refused or I withdraw from the institution?
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 you have withdrawn from enrolment at the Canadian educational institution after your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
Q. Are there any charges for the refund of my GIC?
A. Scotiabank will deduct the applicable administrative fees when completing the refund. The
intermediary banks may charge additional fees during the refund. The refund amount will be returned to
the student's bank account at the bank where the original remittance was made.
