HELP In GIC!!

[Priyavart Rajain]

Hi bro
The bank officials updated my address and wrote an application and told me that we will revert the money again to Scotiabank.
I asked them to do a new wire payment but they said that you will loose a lot of money like that , it would be better if we revert the previous payment only.
I don't know what they're gonna do or if i should have done a new payment without listening to them...
Any guess how much time is it gonna take?

 

[kumar.mandora]

Hi bro
The bank officials updated my address and wrote an application and told me that we will revert the money again to Scotiabank.
I asked them to do a new wire payment but they said that you will loose a lot of money like that , it would be better if we revert the previous payment only.
I don't know what they're gonna do or if i should have done a new payment without listening to them...
Any guess how much time is it gonna take?

Hi Bro,
I am so sorry to hear this. Thank God Bank is able to help you enough, I am sure they will try their best to speed up this process. It depends how soon you receive refund and thereafter bank initiate nexts transfer. I am sorry I won't be able to predict time but hoping by end of this month. Good luck with it.

Thanks

 

[Arsh Aulakh]

Gic from icici bank canada is eligible under sds rule?

 

[Priyavart Rajain]

What is sds bro ? I guess it should be eligible.. because icici bank in Canada also offers gic program.. which intake are u going?

 

[kumar.mandora]

Gic from icici bank canada is eligible under sds rule?

Hi Bro,

I am sorry I am not aware about it, may you can check that on CIC website of SDS handbook. But Scotiabank is better since they have more branches and ICICI have very limited number of branches. Please check the difference between both GIC, pros and cons of each.

 

[kumar.mandora]

What is sds bro ? I guess it should be eligible.. because icici bank in Canada also offers gic program.. which intake are u going?

Hi Bro,

Its an substitute to SPP, but there are changes in requirements, best source of information is CIC website. I am going for Fall 2018 intake (waiting for my Visa).

 

[Priyavart Rajain]

Yeah , he is right bro.. scotiabank is always recommend for gic

 

[kumar.mandora]

Yeah , he is right bro.. scotiabank is always recommend for gic

Yes and its a first choice for GIC. What did bank Say regarding refund and initiating wire transfer again?

 

[Priyavart Rajain]

They said the same thing bro , we are continuously working on it , don't worry , scotiabank will receive your money in 4-5 days .
And i got this message from icici bank today evening
Dear Customer,Your outward remittance Ref No M2WB1414458 is held by the foreign bank. Please visit ICICI Bank branch and quote SR551162093
I don't know what it means but i will contact my bank tomorrow regarding this.

 

[kumar.mandora]

They said the same thing bro , we are continuously working on it , don't worry , scotiabank will receive your money in 4-5 days .
And i got this message from icici bank today evening
Dear Customer,Your outward remittance Ref No M2WB1414458 is held by the foreign bank. Please visit ICICI Bank branch and quote SR551162093
I don't know what it means but i will contact my bank tomorrow regarding this.

Oh my,
yes please visit the branch its best thing to do.
I hope it resolves soon and you get your GIC at earliest.

 

[Priyavart Rajain]

Yeah bro, i am taking daily follow-up on my work , i guess i will receive confirmation by Tuesday or Wednesday and gic certificate thereafter...hoping for the best
Thanks bro

 

[kumar.mandora]

Yeah bro, i am taking daily follow-up on my work , i guess i will receive confirmation by Tuesday or Wednesday and gic certificate thereafter...hoping for the best
Thanks bro

Great yes please be behind bank. Yes and once they receive money within a day or two you will have your certificate.
Most welcome bro

 

[jasz_blr]

Gic from icici bank canada is eligible under sds rule?

That is right.

As of now, GIC from following 3 banks are eligible for SDS.
1. Scotiabank
2. ICICI
3. SBI

Many students prefer Scotiabank as it is spread across the country. While, ICICI and SBI also works out good for students studying in ON.

 

[Nagarjunra22]

Dears ,

I am using ICICI bank. When filling up beneficiary information, I am asked for a transit number. What is the transit number? - 35972 (its there in the email) but ICIC bank asking for 9digit number , please help .

 

[jasz_blr]

Dears ,

I am using ICICI bank. When filling up beneficiary information, I am asked for a transit number. What is the transit number? - 35972 (its there in the email) but ICIC bank asking for 9digit number , please help .

The wire transfer instructions provided by ICICI GIC Canada has 5 digit numeric transit code. My home ICICI branch in India was able to fill this transit code. They did not ask for 9 digit.

May be you should approach some different ICICI branch in your city. In some small branch the staff does not even know what is GIC and have no knowledge of outward remittance or forex transaction. See if you can visit bigger branch.

Also, take a note that it is just a wire transfer and can be done from any other public or private bank. The destination being ICICI GIC Canada A/C does not necessarily mean that the source of transfer also has to be ICICI bank. It can be any other bank which has forex capability with outward remittance.