GIC Account?

[abc12345xyz]

I have checked various bank sites, and found out that TD has best option. As per their site I will be charged only for incoming wire transfer (which was $18 something). Whereas almost other banks are charging processing fee of 1.5% to different rates on incoming wire transfer + $200 fee.

Have anybody opened the GIC account in TD bank, and can confirm this? Were you guys charged only the incoming fee? Do you recommended any other bank over TD?

 

[abc12345xyz]

anyone?

 

[James Lyrie-Stewart]

I have checked various bank sites, and found out that TD has best option. As per their site I will be charged only for incoming wire transfer (which was $18 something). Whereas almost other banks are charging processing fee of 1.5% to different rates on incoming wire transfer + $200 fee.

Have anybody opened the GIC account in TD bank, and can confirm this? Were you guys charged only the incoming fee? Do you recommended any other bank over TD?

Unless I'm totally misunderstanding, getting charged for incoming deposit for GIC sounds kind of like a bad deal. I purchase GIC with Tangerine and I don't get charge with any fees, like at all. Tangerine also has much better GIC rates compared to TD, at least currently.

 

[abc12345xyz]

Unless I'm totally misunderstanding, getting charged for incoming deposit for GIC sounds kind of like a bad deal. I purchase GIC with Tangerine and I don't get charge with any fees, like at all. Tangerine also has much better GIC rates compared to TD, at least currently.

Tangerine not even approved list of IRCC. Then how can I open in that bank?

 

[James Lyrie-Stewart]

Tangerine not even approved list of IRCC. Then how can I open in that bank?

I'm not sure you need the bank to be IRCC-approved to be able to get a GIC account? I have a TFSA GIC account with Tangerine when I was an international student

This is their GIC page: https://www.tangerine.ca/en/products/saving/guaranteed-investments/

All they need is your SIN, DoB, name etc.

 

[abc12345xyz]

I'm not sure you need the bank to be IRCC-approved to be able to get a GIC account? I have a TFSA GIC account with Tangerine when I was an international student

This is their GIC page: https://www.tangerine.ca/en/products/saving/guaranteed-investments/

All they need is your SIN, DoB, name etc.

I don't have a SIN. May be you misunderstood my situation. I am still outside of Canada and need to re-apply for my student visa.

 

[RamSatt]

anyone?

This maybe useful. https://www.simplii.com/en/banking-simplii/join-simplii/international-student-gic.html.

I know nothing about the bank, or the GIC plan they offer. All I know is their claim that there is no fee attached, and that you can activate the account from outside Canada, before you travel. Sounds convenient.

Please look up the details yourself, compare it to other GIC plans from other banks and take a decision. Good luck.

 

[DesiPikachu]

I have checked various bank sites, and found out that TD has best option. As per their site I will be charged only for incoming wire transfer (which was $18 something). Whereas almost other banks are charging processing fee of 1.5% to different rates on incoming wire transfer + $200 fee.

Have anybody opened the GIC account in TD bank, and can confirm this? Were you guys charged only the incoming fee? Do you recommended any other bank over TD?

The best bank for GIC depends on which country you're from... A lot of Canadian banks offer GIC for international students these days: