Just a quick comparison between Scotia GIC and CIBC GIC process:
- CIBC uses modern RTGS or NEFT whereas Scotia uses old wire transfer technology
- CIBC does not have rigid rules for receiving money transfer whereas Scotia has rigid rules where your name and address should exactly match with your passport
- CIBC normally receive money within 1 day of your transfer whereas Scotia may take 3-5 days
- CIBC is fast in responding for any queries. I am not sure how fast Scotia is.
- I never heard about any issues with CIBC, whereas I heard a lot more complain with Scotia GIC transfers
- CIBC gives $25 when someone refers you. You may use my email as referral
cpu0079@yahoo.com ( cpu0079 at yahoo dot com). Scotia don't give any referral bonus.
Hope this helps. Let me know if I have missed any points or I have misrepresented anything.