An excerpt from Scotia Bank's Original Site : ( is.gd/y5Q6A6 )
The branch will transfer amounts from your Scotia Investment Account as follows:
1) $2,000 CAD plus any accrued interest will be deposited in your personal deposit account; and
2) $8,000 CAD to a 1-year fixed term GIC. The GIC amount and accrued interest will be automatically paid into your personal deposit account in 12 equal monthly payments.
It means :
1) As you reach Canada, $2,000 CAD* will be immediately released in your account
2) Remaining $8,000 CAD will transferred in 12 equal monthly payments ( ~ $667 CAD/month*)
*Interest will also be added to the principal amount
