How to Complete Your Canada Student GIC Payment

Overview

A Guaranteed Investment Certificate (GIC) is a mandatory financial requirement for many international students applying for a Canadian study permit. The GIC serves as proof that the student has sufficient funds to support themselves while studying in Canada.

We assist customers with making their GIC payments to approved Canadian bank accounts via SWIFT international transfer.

What You Need Before We Can Process Your GIC Payment

To initiate your GIC payment, you must contact our support team and provide the following documents:

1. Statement of Funds (SoF)

A valid proof showing availability of funds for the transaction.

Examples include:

• Bank statements
• Savings account statements
• Proof of income or source of funds documents

2. Source of Funds

A document showing where the money for the transfer originated from.

Example:

• Bank statement from the account the funds will be sent from

3. Transfer Amount

The total amount you intend to send for the GIC payment.

4. Transfer Timeframe

The expected period within which you plan to complete the transfer.

Providing complete and accurate information helps speed up compliance review and prevents delays in processing your GIC payment.

5. GIC Payment Instruction Document

You must also provide the official payment instruction document from the Canadian bank issuing your GIC.

This document contains the exact beneficiary and banking details needed to complete the transfer accurately, including:

• Beneficiary name
• Account number
• SWIFT/BIC code
• Bank address
• Reference or student ID (if applicable)

Providing complete and accurate information helps speed up compliance review and prevents delays in processing your GIC payment.

How the Process Works

Step 1: Contact Support

Reach out to our support channel and request a Canada GIC payment.

Step 2: Submit Required Documents/Information

Share:

• Your statement of funds
• Your GIC payment instruction document
• Source of funds
• Transfer amount
• Transfer timeframe

Step 3: Compliance Review

Our compliance team reviews your documents and updates your transaction limit if required.

Step 4: Transfer Processing

Once approved, your GIC payment is processed via SWIFT transfer to the Canadian bank account provided in your payment instructions.

Step 5: Payment Confirmation

After the transfer is completed, you will receive confirmation of the transaction.

The receiving Canadian bank will then issue your GIC certificate or confirmation document, which can be used for your student visa application.

Important Notes

• GIC payments are processed via SWIFT international transfer.
• SWIFT transfer charges apply to this transaction.
• Processing timelines may vary depending on compliance review and intermediary banks.
• Ensure all submitted documents are accurate and clearly visible to avoid delays.