GIC Bank Account - Pakistan

[aBc_1990]

Hi,

I am from Pakistan and opening GIC account, how long it should be in Canada? for 60 or 90 days or it does not matter? and Can my brother transfer the money into my GIC account or it should be transferred from Pakistan?

Regards

 

[RamSatt]

If you're applying via SDS, then the Student GIC account is $10,000 for one year.

 

[aBc_1990]

If you're applying via SDS, then the Student GIC account is $10,000 for one year.

Do I need to maintain GIC account for 1 year ? then show it to Canadian embassy? Also can my brother pay/transfer from Canada?

 

[RamSatt]

Do I need to maintain GIC account for 1 year ? then show it to Canadian embassy? Also can my brother pay/transfer from Canada?

Depending on the bank, they'll disperse the money to you over 8 or 12 months. You cannot withdraw the money at once. It will take a year.

 

[aBc_1990]

Depending on the bank, they'll disperse the money to you over 8 or 12 months. You cannot withdraw the money at once. It will take a year.

So If I transfer it in a bank today I can show it to embassy tomorrow? I do not have to keep it there for bank statement and then show it to embassy?

 

[RamSatt]

So If I transfer it in a bank today I can show it to embassy tomorrow? I do not have to keep it there for bank statement and then show it to embassy?

I don't understand what you mean by keeping it there. GIC account is locked for one year. When the Canadian bank receives the money, they will send you details and a letter confirming the account and the $10,000. That is the proof you need to upload in your application, and show the CBSA officer on entry into Canada. Go to the bank physically with that letter and your study permit after you land in Canada, and they will finish setting up the account and give you a debit card. They'll release the funds accordingly.