Scotiabank GIC Process to follow from Pakistan

[Chaudhry Abdullah]

Sure. You can contact me on instagram. My id. is huzaifa__azhar

I have sent a follow request , my acc is tnaxtna. The form my bank gave me requires IBAN number , whereas there is none for my scotia bank .

 

[Raja Mehraj]

I got refusal of study permit and I was applying for refund of my Scotia bank student Gic funds and waited 20 days. Scotia processed my refund application and released my funds to my bank account in pakistan ( which i haven't received yet) but other day i got an email from scotiabank that my refund wire got rejected and thay mentioned a reason of rejection as " BANEFICIARY BANK RETURNED. UNABLE TO APPLY DUE TO NO CAD CORRESPONDENT BANK FOR BENEFICIARY BANK". can anyone help me to understand this problem. When i contacted Scotia bank thay said contact to your bank in pakistan as it is rejected by beneficiary bank. And when i am contacting my bank in pakistan thay said "we don't know anything. We haven't rejected any payment". My bank account in pakistan is in SMABA bank and it is a US DOLLAR account. Is there anyone who can help me out in this?

 

[Raja Mehraj]

I have recently (15/01/2020) got my GIC certificate from Scotiabank and because there is no clear information available online for Pakistani students I have decided to write the complete process which I followed, also I chose Scotiabank because they have branches everywhere in Canada, unlike Habib Canada.

1. Open GIC account: Follow the link to open GIC account on scotia (https://startright.scotiabank.com/student-gic.html)

a. (Note: If you have a middle name as I have mine Adnan Athar Janwari make sure you put your middle in 1st name column on scotia form with “-” because scotia form does not allow space in first name Example: Frist name as Adnan-Athar Last name as Janwari

b. The name should match with your passport name

c. Make sure you save or print screen the address whatever you mention on the Scotia form because you will need that exact same address while transferring funds.

(Timeline: takes few hrs to active)


2. Open foreign currency Account: For transferring funds you need to have foreign currency account (dollar account) in any bank (I used Bank Al Habib) and for that, you need to be tax filer 1st so be filler and open the foreign currency account ASAP ( Timeline: In my case, it took 1 week)


3. Fund Transfer:

Provide below info to the bank for fund transfer

Name: Enter the student’s first and last name [note: Enter exactly as stated in Passport].
Address: Enter the home address of the student as stated in the application.
Account Number: Enter the 15-digit Scotiabank Investment account number (provided above).



Beneficiary Bank Information (Field 57)
THE BANK OF NOVA SCOTIA
TRANSIT 35972 SSG Transaction Processing
4715 Tahoe Blvd
Mississauga, Ontario, L4W 0B4
SWIFT Code: NOSCCATTCOL



a. Note: Most of the students are paying 5% tax by mention Purpose of Remittance as “Study/something study related” GIC account is your personal so if you mention Purpose of remittance as personal you will save your 5% tax this what I did and received the certificate in 5 days

b. Send and receiver add should be (Pakistan one in both)

c. For safe side send 100 CAD more

d. (Timeline: Took five days to receive my GIC certificate after transition)



Doc bank asked in my case:

Passport copy

GIC Amount cheque

Print screen of my GIC account details.

Hope this will help.

I got refusal of my study permit and i was applying for refund of my Scotia bank student Gic funds and waited 20 days. Scotia processed my application and released my funds to my bank account in pakistan ( which i haven't received yet) but other day i got an email from scotiabank that my refund wire got rejected and thay mentioned a reason of rejection as " BANEFICIARY BANK RETURNED. UNABLE TO APPLY DUE TO NO CAD CORRESPONDENT BANK FOR BENEFICIARY BANK". can anyone help me to understand this problem. When i contacted Scotia bank thay said contact to your bank in pakistan as it is rejected by beneficiary bank. And when i am contacting my bank in pakistan thay said "we don't know anything. We haven't rejected any payment". My band account in pakistan is in SAMBA bank and it is a US DOLLAR account. Is there anyone who knows the solution for this.

 

[jigzyy]

I got refusal of my study permit and i was applying for refund of my Scotia bank student Gic funds and waited 20 days. Scotia processed my application and released my funds to my bank account in pakistan ( which i haven't received yet) but other day i got an email from scotiabank that my refund wire got rejected and thay mentioned a reason of rejection as " BANEFICIARY BANK RETURNED. UNABLE TO APPLY DUE TO NO CAD CORRESPONDENT BANK FOR BENEFICIARY BANK". can anyone help me to understand this problem. When i contacted Scotia bank thay said contact to your bank in pakistan as it is rejected by beneficiary bank. And when i am contacting my bank in pakistan thay said "we don't know anything. We haven't rejected any payment". My band account in pakistan is in SAMBA bank and it is a US DOLLAR account. Is there anyone who knows the solution for this.

Is there an option to refund the amount in USD? Scotia might be refunding in CAD and that's why SAMBA refused to accept it since the account was in USD instead of CAD. Contact Scotia and ask them if they can refund in USD at whatever the rate is on that day.

 

[Raja Mehraj]

Is there an option to refund the amount in USD? Scotia might be refunding in CAD and that's why SAMBA refused to accept it since the account was in USD instead of CAD. Contact Scotia and ask them if they can refund in USD at whatever the rate is on that day.

Samba bank was asking the same thing to me. I asked Scotiabank but thay said thay will only release CAD. after too many conversations thay asked me to open an CAD acount in pakistan so my money can come back but you know we can not open CAD Account here in pakistan. I have applied refund again and rejected again. Very frustrated by this situation.

 

[ibbik2010]

ok guys please help me on this.
my cnic has different address, my bank account is registered on my current rental address. Will this be a problem? Will scotia or cibc match address of cnic and bank?

 

[Raja Mehraj]

ok guys please help me on this.
my cnic has different address, my bank account is registered on my current rental address. Will this be a problem? Will scotia or cibc match address of cnic and bank?

In pakistan we don't have address on our passport so there is no issue of address.
But remember to provide your only One address for any correspondence with collage/ university , GIC , embassy and on all the related documents

 

[ibbik2010]

In pakistan we don't have address on our passport so there is no issue of address.
But remember to provide your only One address for any correspondence with collage/ university , GIC , embassy and on all the related documents

So cnic address wont matter anywhere? I should now only use my rental address everywhere, right?

 

[Raja Mehraj]

So cnic address wont matter anywhere? I should now only use my rental address everywhere, right?

Yes

 

[Raja Mehraj]

Did you get your study permit or refusal ?
If refused then how did you get refund of your GIC funds ?

Applied on 31 jan and still waiting for final decision

 

[Huzaifa_Azhar]

Hi,
Can anybody guide if I apply online from Pakistan for GIC account in CBIC or Scotia bank however funds are transferred from Canada. My uncle lives in Canada so my question is, if he can transfer funds from Canada or funds must be transferred from Pakistan?
Also advise, how it will work in case work permit rejected, funds will be transferred to same account from where funds were deosited or somewher else?

Thanks

Hi
First..
You can open account in scocia or cibc online from Pakistan.. But funds must be transferred from your acc in Pakistan or your joint account with your parents from pakistan.. But you can't transfer money outside Pakistan so your uncle is unable to do that...
Second thing... Or in case someone's visa rejected then it will be transferred to the same account from where it was transferred...

 

[Huzaifa_Azhar]

Thanks for replying, please advise if joint account in Pakistan can be with any relative as one of my uncle is already tax filer so it will be easy for me to open joint account with him. Or it must be joint account with parents only.

Thanks

Joint account can only be open with one of the parents... Becoming filer is not a difficult thing.. You can become filer and can open acc by your own name

 

[Hajraibsal]

Samba bank was asking the same thing to me. I asked Scotiabank but thay said thay will only release CAD. after too many conversations thay asked me to open an CAD acount in pakistan so my money can come back but you know we can not open CAD Account here in pakistan. I have applied refund again and rejected again. Very frustrated by this situation.

I am facing the same situation by scotia bank. My gic refund has also been rejected due to same reason. How did you manage this thing??

 

[kingpin00]

I am facing the same situation by scotia bank. My gic refund has also been rejected due to same reason. How did you manage this thing??

Which bank in Pakistan did you send GIC from?

 

[hasanghalib]

I got refusal of my study permit and i was applying for refund of my Scotia bank student Gic funds and waited 20 days. Scotia processed my application and released my funds to my bank account in pakistan ( which i haven't received yet) but other day i got an email from scotiabank that my refund wire got rejected and thay mentioned a reason of rejection as " BANEFICIARY BANK RETURNED. UNABLE TO APPLY DUE TO NO CAD CORRESPONDENT BANK FOR BENEFICIARY BANK". can anyone help me to understand this problem. When i contacted Scotia bank thay said contact to your bank in pakistan as it is rejected by beneficiary bank. And when i am contacting my bank in pakistan thay said "we don't know anything. We haven't rejected any payment". My band account in pakistan is in SAMBA bank and it is a US DOLLAR account. Is there anyone who knows the solution for this.

Even I am facing the same issu.

• #47

My visa is rejected, so I apply for Scotiabank GIC refund, they processed but my money could not come to Pakistan, reason they nention as my bank is not accepting CAD transaction and asked me to give them canadian dollar account which actually does not exist in Pakistan, can anyone suggest how to receive money from Scotia bank into my eithet USD or Pak Rupee account. Thx