Gic funds not accepted
- Thread starter Jaskiran kaur
- Start date
I'm still waiting for medical to pass. I submitted my application on july 4th via offline and you?
Hello guys, i send my gic on thursday and got swift copy from local bank on friday. The problem is this that i sent exact $10200 as i was not aware of international charges but my bank took 1 around rs1800 as their fees and around rs1400 other international charges. But my agent told me that you have to pay around $30 extra as it may got deducted, as scotia bank do not accept amount less than 10200. So i am now in very much tension. I called scotia bank and they told me that they have not received the money yet. What are my chances of rejection of gic? please reply asap.
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Hi Scotia bank will be able to update you only when they receive the funds as intermediatery bank is involved. You should push your bank to check as to where your funds are right now. If scotiS bank doesn't find your funds sufficient they will return it .
Sharing my experience. My bank put the wrong passport number in the Swift copy so my payment got rejected. When I again sent the money they were not accepting it so to avoid delay I opened my account in ICICI bank transferred money and received my gic in one week. But because of Scotia bank disapproval twice the whole process took 1 month. Also I want to tell you that 100 dollars got deducted in the whole process .
Sharing my experience. My bank put the wrong passport number in the Swift copy so my payment got rejected. When I again sent the money they were not accepting it so to avoid delay I opened my account in ICICI bank transferred money and received my gic in one week. But because of Scotia bank disapproval twice the whole process took 1 month. Also I want to tell you that 100 dollars got deducted in the whole process .
Don't worry , scotiabank will receive the complete amount , and let me tell you, the amount that you will get in your scotia investment account will be 10000CAD , not 10200CAD, why you ask? because the 200CAD are the charges of scotiabank itself , so you dont need to send any extra money, also, the charges that your bank took will cover all the extra charges, so don't worry . One thing I would like to mention is don't beleive on your consultants or agents blindly, find information on your own and be self aware, don't let anyone misguide you. Cheers Man!
Hi Andy
I had similar issue so I had sent a money transfer of $10300. And guess what... The 1400 INR charge was not deducted from it. It was applied to my saving account in India from the sending /source bank. So Scotia Bank did my GIC for $ 10,100 ($200 admin fee taken out)
When u fill wire transfer forms... It has option whom to charge extra fees etc. You have to tell the officer at your source bank that don't reduce my transfer money ( that's why I went to the branch to avoid digital banking screw up).
Just cross check with Ur local bank and tell them to ensure they apply nostro or other charge to your source AC (not receiver)
Relax all will be well
Brother i also asked my manager she told me they can't track the payment. But she said the money will automatically comes into your account within 10 days.Now what can I do
Hii my gic got rejected due to mismatch of dob..i got mail from scotia bank on 1feb 2019. Till the date i did nor receive the payment..can any one help ...how many days it will take
It takes normally 7-10 business days to get GIC. Wait for more 3 days you will get it if there is no address mismatch AND less fund.
Best solution for you to changed the address line in bank before wire payment but you already did it. Normally bank understand Typo error or missing characters - "/" - "Short forms" - "order sequence" but in your case the whole word is missing so i am not sure about it but don't worry be positive and wait for the response.
Hi guys. Can anyone help me how long does it actually take for the funds to be returned back to my bank account after being rejected ? I transferred my GIC funds to Scotiabank on 26th Feb and received a secure mail on 28th Feb that my wire transfer has been rejected due to the following reason - ORDERING INSTITUTION COUNTRY IS MISSING. Till now, I haven't received any updates about my rejected funds.
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