Scotiabank GIC Process to follow from Pakistan

[Adnanjanwari]

I have recently (15/01/2020) got my GIC certificate from Scotiabank and because there is no clear information available online for Pakistani students I have decided to write the complete process which I followed, also I chose Scotiabank because they have branches everywhere in Canada, unlike Habib Canada.

1. Open GIC account: Follow the link to open GIC account on scotia (https://startright.scotiabank.com/student-gic.html)

a. (Note: If you have a middle name as I have mine Adnan Athar Janwari make sure you put your middle in 1st name column on scotia form with “-” because scotia form does not allow space in first name Example: Frist name as Adnan-Athar Last name as Janwari

b. The name should match with your passport name

c. Make sure you save or print screen the address whatever you mention on the Scotia form because you will need that exact same address while transferring funds.

(Timeline: takes few hrs to active)


2. Open foreign currency Account: For transferring funds you need to have foreign currency account (dollar account) in any bank (I used Bank Al Habib) and for that, you need to be tax filer 1st so be filler and open the foreign currency account ASAP ( Timeline: In my case, it took 1 week)


3. Fund Transfer:

Provide below info to the bank for fund transfer

Name: Enter the student’s first and last name [note: Enter exactly as stated in Passport].
Address: Enter the home address of the student as stated in the application.
Account Number: Enter the 15-digit Scotiabank Investment account number (provided above).



Beneficiary Bank Information (Field 57)
THE BANK OF NOVA SCOTIA
TRANSIT 35972 SSG Transaction Processing
4715 Tahoe Blvd
Mississauga, Ontario, L4W 0B4
SWIFT Code: NOSCCATTCOL



a. Note: Most of the students are paying 5% tax by mention Purpose of Remittance as “Study/something study related” GIC account is your personal so if you mention Purpose of remittance as personal you will save your 5% tax this what I did and received the certificate in 5 days

b. Send and receiver add should be (Pakistan one in both)

c. For safe side send 100 CAD more

d. (Timeline: Took five days to receive my GIC certificate after transition)



Doc bank asked in my case:

Passport copy

GIC Amount cheque

Print screen of my GIC account details.

Hope this will help.

 

[Farazahsheikh]

I have recently (15/01/2020) got my GIC certificate from Scotiabank and because there is no clear information available online for Pakistani students I have decided to write the complete process which I followed, also I chose Scotiabank because they have branches everywhere in Canada, unlike Habib Canada.

1. Open GIC account: Follow the link to open GIC account on scotia (https://startright.scotiabank.com/student-gic.html)

a. (Note: If you have a middle name as I have mine Adnan Athar Janwari make sure you put your middle in 1st name column on scotia form with “-” because scotia form does not allow space in first name Example: Frist name as Adnan-Athar Last name as Janwari

b. The name should match with your passport name

c. Make sure you save or print screen the address whatever you mention on the Scotia form because you will need that exact same address while transferring funds.

(Timeline: takes few hrs to active)


2. Open foreign currency Account: For transferring funds you need to have foreign currency account (dollar account) in any bank (I used Bank Al Habib) and for that, you need to be tax filer 1st so be filler and open the foreign currency account ASAP ( Timeline: In my case, it took 1 week)


3. Fund Transfer:

Provide below info to the bank for fund transfer

Name: Enter the student’s first and last name [note: Enter exactly as stated in Passport].
Address: Enter the home address of the student as stated in the application.
Account Number: Enter the 15-digit Scotiabank Investment account number (provided above).



Beneficiary Bank Information (Field 57)
THE BANK OF NOVA SCOTIA
TRANSIT 35972 SSG Transaction Processing
4715 Tahoe Blvd
Mississauga, Ontario, L4W 0B4
SWIFT Code: NOSCCATTCOL



a. Note: Most of the students are paying 5% tax by mention Purpose of Remittance as “Study/something study related” GIC account is your personal so if you mention Purpose of remittance as personal you will save your 5% tax this what I did and received the certificate in 5 days

b. Send and receiver add should be (Pakistan one in both)

c. For safe side send 100 CAD more

d. (Timeline: Took five days to receive my GIC certificate after transition)



Doc bank asked in my case:

Passport copy

GIC Amount cheque

Print screen of my GIC account details.

Hope this will help.

This post will help many people who are applying from Pakistan. Kudos to you for putting in the time and effort!

 

[Ahm@d]

@Adnanjanwari Thanks for sharing this. i have a question though. What documents are required ton open an
FC account,do you have to have a job? and also what do you have to show the source of funds?

 

[Adnanjanwari]

@Adnanjanwari Thanks for sharing this. i have a question though. What documents are required to open an
FC account,do you have to have a job? and also what do you have to show the source of funds?

These were the required documents for Bank Al Habib to open FC account

Salaried Person:
- Documents required: CNIC, Proof of employment, FBR Tax filer certificate

Self-Employed / Businessmen:
- Documents required: CNIC, Proof of Business, FBR Tax filer certificate

 

[fatyma]

Please let me know how to get filler in case of non-employment? Like i was employed previously but not now for two years or most and i am the main applicant however my sponsor is my husband. Do you have any information in this regard?

 

[Ahm@d]

Talk to a specialist. There are some consultants( lawyer) who can do it for you

 

[Ahadch3357]

Please let me know how to get filler in case of non-employment? Like i was employed previously but not now for two years or most and i am the main applicant however my sponsor is my husband. Do you have any information in this regard?

Its not compulsory to get filer for GIC
I have talk to many who didn't open a FORIEGN CURRENCY ACCOUNT
You can proceed with your PKR ACCOUNT
Actually, banks don't have enough information
According to state bank,
You can transfer money for Tuition fee/ Living expenses for study abroad by PKR ACCOUNT.
You need to take the screenshot of what is written on that website ( print it ) and show it to bank

 

[Ahm@d]

@

I have recently (15/01/2020) got my GIC certificate from Scotiabank and because there is no clear information available online for Pakistani students I have decided to write the complete process which I followed, also I chose Scotiabank because they have branches everywhere in Canada, unlike Habib Canada.

1. Open GIC account: Follow the link to open GIC account on scotia (https://startright.scotiabank.com/student-gic.html)

a. (Note: If you have a middle name as I have mine Adnan Athar Janwari make sure you put your middle in 1st name column on scotia form with “-” because scotia form does not allow space in first name Example: Frist name as Adnan-Athar Last name as Janwari

b. The name should match with your passport name

c. Make sure you save or print screen the address whatever you mention on the Scotia form because you will need that exact same address while transferring funds.

(Timeline: takes few hrs to active)


2. Open foreign currency Account: For transferring funds you need to have foreign currency account (dollar account) in any bank (I used Bank Al Habib) and for that, you need to be tax filer 1st so be filler and open the foreign currency account ASAP ( Timeline: In my case, it took 1 week)


3. Fund Transfer:

Provide below info to the bank for fund transfer

Name: Enter the student’s first and last name [note: Enter exactly as stated in Passport].
Address: Enter the home address of the student as stated in the application.
Account Number: Enter the 15-digit Scotiabank Investment account number (provided above).



Beneficiary Bank Information (Field 57)
THE BANK OF NOVA SCOTIA
TRANSIT 35972 SSG Transaction Processing
4715 Tahoe Blvd
Mississauga, Ontario, L4W 0B4
SWIFT Code: NOSCCATTCOL



a. Note: Most of the students are paying 5% tax by mention Purpose of Remittance as “Study/something study related” GIC account is your personal so if you mention Purpose of remittance as personal you will save your 5% tax this what I did and received the certificate in 5 days

b. Send and receiver add should be (Pakistan one in both)

c. For safe side send 100 CAD more

d. (Timeline: Took five days to receive my GIC certificate after transition)



Doc bank asked in my case:

Passport copy

GIC Amount cheque

Print screen of my GIC account details.

Hope this will help.

Hey bro thanks for the post. I have a question. I'm going to fill the remittance form tomorrow to send the GIC amount. I have opened FC account. Now can you please guide me about avoiding the 5% tax, you mentioned the ' purpose of remittance", is it written on the remittance form. Also not many students have mentioned that 5% tax also needs to be paid. Also in how much time do you think i can get my certificate, if my money reaches there on monday or tuesday.

 

[Adnanjanwari]

@

Hey bro thanks for the post. I have a question. I'm going to fill the remittance form tomorrow to send the GIC amount. I have opened FC account. Now can you please guide me about avoiding the 5% tax, you mentioned the ' purpose of remittance", is it written on the remittance form. Also not many students have mentioned that 5% tax also needs to be paid. Also in how much time do you think i can get my certificate, if my money reaches there on monday or tuesday.

purpose of remittance is it on remittance form make sure to mention it as "personal or personal account"
I think max they take 1 week after money transfer but you can even get it in 2-3 days

 

[Innayma]

URGENT...
my GIC was rejected because according to the Scotiabank the funds transferred were not in CAD. According to my bank its not possible that funds transferred were in the US dollars as funds are automatically transferred to the respective currency in which country the funds are transferred. How should I avoid this problem next time as it is very time consuming.

 

[Innayma]

Which bank is best in Pakistan to sent funds for GIC?

 

[EhteshamUllah]

Aoa brother, i wanted to ask some stuff regarding GIC. Soo while sending money, shoud i write the name with title or without title?
And what is send instruction??
"Send Instruction to:
THE BANK OF NOVA SCOTIA
44 King Street West Toronto, Ontario, Canada M5H 1H1
SWIFT Code: NOSCCATT"

 

[hassanbhatti]

Aoa brother, i wanted to ask some stuff regarding GIC. Soo while sending money, shoud i write the name with title or without title?
And what is send instruction??
"Send Instruction to:
THE BANK OF NOVA SCOTIA
44 King Street West Toronto, Ontario, Canada M5H 1H1
SWIFT Code: NOSCCATT"

bank officer will fill the form you dont need to worry about it.

 

[hassanbhatti]

Which bank is best in Pakistan to sent funds for GIC?

HBL misguided me for 2 months, evetually opened up an accout in UBL took me 2 days to open account and 2 more days to get the cheque book.

 

[EhteshamUllah]

bank officer will fill the form you dont need to worry about it.

Thank you brother. so i just need to make sure the details provided are correct? baki woo sab kar lai ga right?