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GIC Problems in Pakistan

razabuneri

Member
Sep 6, 2020
14
2
Yes, you can, you have to explain to them that this is the study and living expenses also print a screenshot of the CIC website and some GIC details from scotia bank to convince them. I hope it helps and I hope they will be convinced try to find out some relations in the bank too so they can help you. if still, they are not convinced then you have to open up a foreign currency account to send the money.
NOTE: The account for sending GIC will be on your own name and the address you have provided as your mailing or living address by creating the GIC account should be the same address that you will write on the form while submitting GIC so also keep its screenshot with you. I hope it helps.
PS: For opening a foreign account you must be filer and registered under FBR with NTN.
In Habib Canadian case account t could be in parent name
 

asadmah87

Member
Oct 26, 2019
11
0
I faced the problem of GIC. When you have no own financial source, always open partnership foreign currency account, partnering with any of your parent.
 

razabuneri

Member
Sep 6, 2020
14
2
I faced the problem of GIC. When you have no own financial source, always open partnership foreign currency account, partnering with any of your parent.
This is also issue the banks in Pakistan discourage to open FX account as a result students face issues in sending GIC.... Thats why we request state bank to issue special guidance to commercial banks
 

razabuneri

Member
Sep 6, 2020
14
2
Are you sure it will be accepted by the foreign banks? Have you tried it? Also any taxes that are implied on it?
The issue is the bankers in Pakistan are reluctant that why we request central bank to issue direction specially for students who wana buy GICs by sending money to Canadian designated bank(s).
 

UsmanM

Member
Sep 16, 2020
10
0
Has anyone here received their SDS visa as of yet? if yes, how long did it take considering the unique COVID-19 circumstances?
 

jigzyy

VIP Member
Jul 1, 2010
3,840
789
Canada
Category........
FSW
Visa Office......
London
NOC Code......
2174
App. Filed.......
04-05-2013
AOR Received.
09-07-2013
File Transfer...
22-07-2013
Med's Request
02-04-2014
Med's Done....
15-04-2014
Interview........
21-01-2014
Passport Req..
01-07-2014
VISA ISSUED...
14-07-2014
LANDED..........
22-09-2014
Has anyone here received their SDS visa as of yet? if yes, how long did it take considering the unique COVID-19 circumstances?
No one has received final approval let stamped alone visa during Covid19. There's also no timeline at the moment.
 

jigzyy

VIP Member
Jul 1, 2010
3,840
789
Canada
Category........
FSW
Visa Office......
London
NOC Code......
2174
App. Filed.......
04-05-2013
AOR Received.
09-07-2013
File Transfer...
22-07-2013
Med's Request
02-04-2014
Med's Done....
15-04-2014
Interview........
21-01-2014
Passport Req..
01-07-2014
VISA ISSUED...
14-07-2014
LANDED..........
22-09-2014
Can anyone please mention the whole procedure of GIC over here instead of telling people to ask them individually on emails? Thank you.
You can find information on some other threads as well.

Summary:
  1. You can push your bank to send GIC amount in PKR -> USD -> CAD but 99% banks will not agree to this. Do keep in mind that you will have to pay the currency conversion prices. Students have faced nightmares using this method.. if you don't want to go this route (confirm from bank first, then follow rest of the steps)
  2. Open FCY account of USD in any bank, preference is your primary bank or Meezan/HBL. I believe you have to be tax filer to open account
  3. You have to have account in your name OR joint account with parents
  4. There's a hold of 15 ~ 20 days on account opening before you can operate it
  5. Meanwhile, open GIC account (4 days) in CIBC with proper information that matches your passport and CNIC (same address is mandatory)
  6. When your account is ready for transfer, apply for GIC conversion rate on CIBC, so instead of sending from USD - CAD, do USD - USD (1 less conversion hit)
  7. Get instructions letter print out from CIBC after approval (2 days), you have 5 ~ 7 days timeline in which you have to initiate transfer
  8. Take the letter to bank.. get the wire transfer done (there'll be a lot of push backs from bank for stupid reasons, you have to push them too to use information on instruction letter AS IS including your PAKISTAN address)
  9. CIBC will receive money with in 12 hrs and will send you notification and GIC letter
 
Last edited:

Sameeh87

Full Member
Mar 13, 2017
39
5
Anyone used CIBC for the GIC? I am trying to send 17k CAD from my USD account through Standard Chartered Bank but payments were returned twice despite following all the instructions as were received. Whenever I approach the CIBC they respond standard emails and not tell me the reasons. The Standard Chartered Bank also says no issues at our end but in my account reasons are "beneficiary bank did not apply" and "account name and number did not match". This GIC has already taken more than a month now and I am also slapped with more than 170USD as charges on account of failed transactions. Any help or support would be appreciated.