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Scotiabank Student
GIC Program
Important Dates - Subject to Change
Scotiabank will receive GIC Applications from students throughout the year and issue confirmations
subject to funds being received. However please NOTE that it takes around 10 Business Days to
process a GIC application to completion.
Please take this into consideration and apply in sufficient time to receive your GIC so that you can
meet the study permit application deadlines for the various semester intakes observed by the
Canadian High Commission in New Delhi.
Please refer to the VFS website (http://www.vfs-canada.co.in/visaapplication.html) and the Canadian
visa offices guidelines for Study Permit application submission dates applicable to each session
intake.
For indicative purposes only, please see the guidelines for cut off dates for your wire transfer below for
each session intake.
Intake Period
Wire Transfer Deadline – suggested GIC funding
cut-off date at Scotiabank Canada for Study
Permit application processing by visa offices
Fall 2013
(August/September)
July 26, 2013
Winter 2013-2014
(December/January)
November 22, 2013
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Frequently Asked Questions
Q. Where can I find the
application form for the
Scotiabank Student GIC
Program?
A. The form is available on the
Scotiabank website.
B. Please follow the link:
http://www.scotiabank.com/ca/en/
0,,5698,00.html.
The form is available under the
“How to apply" tab.
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Frequently Asked Questions
Q. How should the application be
submitted?
A. Applications should be sent from the
Student Applicant from the email
account indicated on their application
form. Scotiabank will not
correspond to the applicant
through any other email.
 The application form must be
TYPED, signed and then
scanned with all other requested
documents into ONE SINGLE
PDF File.
 The completed application
package (in ONE SINGLE PDF
File) should then be sent to
[email protected],
with “Scotiabank Student GIC
Program” in the subject line of
the email.
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Frequently Asked Questions
Q.
What is the timeframe for the entire GIC application process?
A.
Applicants must plan for approximately 10 Business Days it will take from the date that
Scotiabank receives an application to the date that the funded GIC confirmation is issued.
Please respect the GIC application processing times, usually as follows:
- GIC confirmation will be sent usually within 5 Business Days from receipt of application.
- Once customer transfers money, it usually takes 3 business days for the GIC to be funded.
- The confirmation will be sent usually within 2 Business Days after the GIC is funded.
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Frequently Asked Questions
Q.
Can funds be transferred from other banks apart from Scotiabank or Kotak Mahindra
Bank branches in India?
A.
Yes, the funds can be wire transferred from ANY bank in India where the applicant holds their
banking account.
Q.
Can the GIC be deposited by anyone other than the student applicant?
A.
No. Funds must be deposited in the GIC by the student applicant. In the event of a refund, the
money will be returned to the student’s bank account at the bank from where the original
remittance was made.
Q.
Can a “third party” (someone other than the account holder) follow up with Scotiabank in
regards to my application?
A.
For reasons of privacy, we are unable to disclose any information to anyone other than the
account holder.
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Frequently Asked Questions
Q.
How will Scotiabank correspond with the applicant?
A.
In order to protect customers’ privacy, Scotiabank will only correspond directly with the student
applicant at the email account indicated in their original account application. Sensitive customer
information - including account details - are sent directly to the customer using an encryption
email program. Emails sent using Scotiabank’s encryption program will be sent from
[email protected] with a webmail portal link. Clicking on this link will launch the applicant’s
web browser.
•
The applicant will be required to register first by clicking the “Register now” link for the
first time.
•
The Webmail portal will send a temporary password to the applicant in order to
complete the registration; they will need to click the “Scotiabank Secure Email
System” link; this will take them back to the Secure Email login page. Note the
temporary password will be required for initial log in to the Secure Email system.
•
Once the applicant enters the temporary password they will be forced to change the
temporary password; applicants must ensure to note the new password they
assign their account;
•
After completing the registration process the applicant will be able to view the
Webmail inbox and read their secured email.
•
Note: Secure Emails will be held for viewing for 30 days before automatic deletion.
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Frequently Asked Questions
Q.
How does an applicant receive a refund if their Study Permit is refused or they withdraw
from the institution?
A.
Full redemption of the outstanding principal of the GIC cannot occur prior to the Maturity Date
unless they provide us with proof that:
- Their Study Permit has been declined; or
- Their application for admission to a Canadian educational institution has been declined; or
- They have withdrawn from enrolment at the Canadian educational institution after arrival in
Canada.
All requests for a refund will be processed ONLY AFTER the Canadian High Commission
confirms to Scotiabank that the Study Permit has been refused or cancelled.
For processing a refund, Scotiabank Canada requires the following documents to be emailed in
one(1) single PDF file to [email protected]:
- 3 pages of the refusal letter as provided by the Canadian High Commission;
- Original Telegraphic Transfer (wire transfer) Receipt;
- Completed Refund Wire Transfer Form (found in the “How to request a refund” tab of
Scotiabank’s website)
Note: The subject line of your email should state: “Refund Request - IP number, passport number and
date of birth.” Upon receiving a request for a GIC Refund, Scotiabank seeks confirmation from
the Canadian visa authorities in India. Transfer of funds may take up to 8 weeks from the date
the request is received from the applicant.
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Frequently Asked Questions
1.
Can an account that was opened for an earlier study permit application, but was never
funded (and thus no Study Permit applied for) be used for a later school term and Study
Permit application?
2.
Can an applicant that has funded an existing Scotiabank Student GIC Program account
intended for say, the January 2013 term use the existing GIC certificate (Investment
Direction) to apply for a Study Permit for a later session?
A.
Yes, students may use their existing GIC Certificate (Investment Direction) for a
new Study permit application. The Canadian High Commission will validate the
GIC with Scotiabank directly.
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STUDENTS – Scotiabank Welcome Letter
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STUDENTS – GIC Payments in Canada
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STUDENTS – Refund Wire Transfer Form
• The Form is found on our
Scotiabank website under “How
to Request a Refund” section
•Ensure form is filled out
completely and with accurate
information
• Failure to do so may cause a
delay in the processing of the
refund
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AGENTS: Important information for students
To ensure timely processing of the students’ Scotiabank Student GIC Application
STEPS TO FOLLOW
Allow for sufficient processing times. See IMPORTANT
DATES on our website to confirm these dates prior to
STEPS TO AVOID (delay/rejection of application)
Please do NOT follow up with requests to process your
application sooner.
submitting an application
 Ensure the GIC application and any subsequent request
is sent from the email address input in the student’s
original GIC application
 Please ensure student email address is correctly input in
the application. All communications will be sent to the
student at this email address only
 Send applications in the prescribed format from the email
address included in the student’s GIC application. All
communications will be addressed to this email only
 Do NOT use an email address other than the one input in
Scan all requested documents (Application Form /Passport
Copy/Acceptance Letter) in one (1) single PDF file
Do NOT send duplicate application forms (more than once).
This slows the processing time and delays all students’
applications. Applications received in the same student’s
the GIC application
 Do NOT hand write the application - these will NOT be
accepted. (Please use the electronic version only)
name more than once, will be REJECTED
Ensure they have signed their Scotiabank Student GIC
Program Application Form before scanning it with their other
application documents
Do NOT follow up with their request through any other
channel other than [email protected]
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AGENTS: Important information for students
To ensure timely processing of the students’ Scotiabank Student GIC Application
STEPS TO FOLLOW
STEPS TO AVOID (delay/rejection of application)
 Only applications submitted to
[email protected] will be processed
 If the GIC application is incomplete or any additional
details are required, we will email the student at the
email address provided in the GIC application
Do NOT send application forms to multiple email addresses.
We will NOT process applications emailed to any other email
Only funds transferred from the student’s bank account in
India will be accepted for funding the GIC.
 We will NOT accept funds deposited by a third party
deposit into their GIC Investment account on behalf of the
student
 Do NOT transfer funds from any account other than their
own bank account in India
Emailed requests for REFUNDS must:
 include in the Subject Line – Student Name, GIC
Number, Passport Number and Date of Birth
 attach in a SINGLE PDF File the Refusal Letter issued
by the Canadian Visa Office in India, along with copy of
TT receipt
 provide details of the Bank and Account Number from
which the money was originally sent to fund the GIC
Do NOT send multiple follow-up emails, after requesting a
refund. Transfer of funds may take up to 8 weeks from the
date the request is received by us, to allow time for refund
confirmation from the Canadian visa authorities
address
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Q&A
Thank You!
Questions? Please email your general queries to
[email protected]
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