CIBC GIC is better

[sauravkhanna96]

I am not aware of anything like this... but it could be possible that while filling out the online form, you selected other options other than the GIC. However, as CIBC confirmed that they will transfer fund to GIC, then you should be good. Only concern is that you have to wait for some time to get the letter.

So finally, I got my GIC confirmation. I called CIBC customer care again and clarified the whole procedure. They said that initially funds are deposited into the chequing accounts which is a kind of deposit account from where GIC investment is made. This will be the account which will be activated after we arrive in Canada. I just made a request to process it by stating that my funds are already lying with CIBC account and got the confirmation email. The investment letter and welcome letter were processed and uploaded on the portal.

Thank you so much for your guidance.

 

[MRPB10]

Hi Everyone please tell me which currency mode option is better CAD or INR.....Because there is 150$ saving if I select payment mode in INR...and I also want to know that is there any disadvantage to choosing INR instead of CAD

 

[sauravkhanna96]

Hi Everyone please tell me which currency mode option is better CAD or INR.....Because there is 150$ saving if I select payment mode in INR...and I also want to know that is there any disadvantage to choosing INR instead of CAD

There is no disadvantage in choosing INR currency for making payment. Rather it has advantages like:-
1. You will pay 10000 instead of 10150
2. You will pay via RTGS which is easy mode of payment instead of wire transfer which takes alot of time to process.
3. You can even make payment through internet banking if it’s not feasible for you to go to bank.
4. RTGS is usually processed in few hours of payment.

So it’s better to choose INR. You will get payment instructions to make RTGS into the concerned bank, i.e. Standard Chartered Bank.

 

[MRPB10]

choo

There is no disadvantage in choosing INR currency for making payment. Rather it has advantages like:-
1. You will pay 10000 instead of 10150
2. You will pay via RTGS which is easy mode of payment instead of wire transfer which takes alot of time to process.
3. You can even make payment through internet banking if it’s not feasible for you to go to bank.
4. RTGS is usually processed in few hours of payment.

So it’s better to choose INR. You will get payment instructions to make RTGS into the concerned bank, i.e. Standard Chartered Bank.

Thnx Bro...You explained it very briefly thnx a lot.....Actually I was thought if I select INR my currency mode then maybe CIBC issued me GIC certificate with INR amount.

 

[sauravkhanna96]

Thnx Bro...You explained it very briefly thnx a lot.....Actually I was thought if I select INR my currency mode then maybe CIBC issued me GIC certificate with INR amount.

No GIC will be issued in CAD only. 10000 CAD

 

[Nishiroy]

Hi

Hello,
In my CIBC registration form, under "Purpose of GIC" I put "Travel for Education" instead of personal expenditure. Will that be an issue, since I realized later that GIC is for my day to day expenses and not college/hostel fees.

Also, my address in bank is different from my passport. I entered the passport address in CIBC form and thats printed on the A2 form. The bank may object, what should I do?

Hi,

Did the address difference created an issue with ur GIC?

 

[notjonsnow]

Hi

Hi,

Did the address difference created an issue with ur GIC?

No it didn't.

 

[Arshdeep123]

I chose cibc for my gic
I did payment on 5 Sept (3.00 pm ist) and mailed scanned copy...
But i didn't received any payment confirmation mail or any other mail from cibc...
Is it usually happens or is something wrong?
Please reply

 

[sauravkhanna96]

I chose cibc for my gic
I did payment on 5 Sept (3.00 pm ist) and mailed scanned copy...
But i didn't received any payment confirmation mail or any other mail from cibc...
Is it usually happens or is something wrong?
Please reply

In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.

 

[Arshdeep123]

In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.

Thanks for your precious info

 

[Arshdeep123]

In normal case, you will get confirmation (GIC Certificate- Investment Advice Letter) within two days of payment. Otherwise, it may take upto 5-7 working days. Dont worry, there is no such payment confirmation mail sent by CIBC, they directly send the GIC certificate which also states your payment confirmation.

I had received email ...
In which 2 pdf's are include
Investment advice letter and welcome letter
Which pdf is used for immigration purposes..?
Please reply

 

[mayankraj]

I had received email ...
In which 2 pdf's are include
Investment advice letter and welcome letter
Which pdf is used for immigration purposes..?
Please reply

Your investment advice letter is the one you will have to use during VISA application process.

 

[susanjoy]

A2 form just fill the RTGS or NEFT refrence number ..and your saving account number rest on next page your signature thats it..you can do it by your own later scan and email cibc..

Hello ..
Im planning to apply GIC through CIBC. In my payment instruction, i can see "AD code No." and "Form No." in top right corner of page 3 and "Name of AD branch" in page 3. Pls help me on this.

 

[aryansood89]

Hello ..
Im planning to apply GIC through CIBC. In my payment instruction, i can see "AD code No." and "Form No." in top right corner of page 3 and "Name of AD branch" in page 3. Pls help me on this.

You only need to fill transaction reference number account number from which amount is transferred , Bank name and address and your signature and date only...

 

[overcomers]

What about the GIC receipt? Did they send a CIBC receipt or a receipt of the bank in Mumbai where they have vostro account. I will be transferring funds in two days. Just have this concern. Thanks