The following is procedure of GIC Refund.
Full redemption of the outstanding principal of your GIC cannot occur prior to the Maturity Date unless you provide us with proof that:
your Study Permit has been declined; or
your application for admission to a Canadian educational institution has been declined; or
you have withdrawn from enrolment at the Canadian educational institution after your arrival in Canada.
Please note: upon receipt of proof of any of these events and confirmation from the Canadian High Commission, we will redeem the outstanding principal plus, for GICs outstanding for more than thirty days, any accumulated interest.
In order to process your refund, Scotiabank Canada will require the following to be emailed in 1 single PDF file to newaccount@scotiabank.com:
the 3 pages of your refusal letter or cancelled Study Permit as provided by the Canadian High Commission;
the original TT Receipt;
and the completed Refund Wire Transfer Form (1.1 mb)
Note: the subject line of your email should state: Refund Request – IP number, passport number and date of birth.
Please see the Application Guide (70 kb) for further details regarding refund requests or postponing your GIC.
link to the application guide http://www.scotiabank.com/startright/common/pdf/ssgp-application-guide.pdf
link to the refund form http://www.scotiabank.com/startright/common/pdf/ssgp-refund-transfer-form.pdf
link of the source of the above information http://scotiabank.com/ca/en/0,,5698,00.html
