Once you receive the email confirming that your Investment Account has been opened, you will need to send RBC a single, one-time international wire transfer to pay the minimum GIC amount established by Immigration, Refugees and Citizenship Canada (“IRCC”) plus any applicable fees mentioned below. Your single, one-time international wire transfer cannot exceed CAD 30,000. The minimum amount established by IRCC is currently CAD 20,635, except for the province of Quebec. SDS applicants who intend to study in Quebec must meet Quebec’s minimum financial requirement; this amount can be found here.

Your wire transfer amount will cover the following**:

• The purchase of your initial GIC;
• RBC One-Time Handling Fee of CAD 200; and
• Non-RBC International Wire Transfer (IWT) Fees and Charges (which may be charged by third parties involved in the international wire transfer process). Such amounts may vary.

**Once we receive your wire transfer, we will deduct the CAD 200 handling fee. The balance, less any non-RBC fees and charges that may be charged by other financial institutions involved in your wire transfer, will be the amount invested as principal for your Initial GIC. For example, if you wire CAD 20,900, and non-RBC IWT fees and charges total CAD 25, your Initial GIC will be issued with a principal investment amount of CAD 20,675 (CAD 20,900 wire transfer less CAD 200 RBC handling fee and CAD 25 in non-RBC IWT fees and charges).

After receiving your account details from RBC, you may directly contact your assigned RBC advisor for all questions relating to your application. To help you receive a quick response, you must ensure that you include in the email all the information available on your application form such as SRF # and full name, as well as date of submission.

Absolutely! To receive a refund, you will need to provide proof of study permit rejection and submit a request to your RBC advisor at rbcisprogramabcustomersupport@rbc.com. You will receive a refund your one-time deposit, minus the $200 CAD handling fee which is unfortunately non-refundable.

Once you arrive in Canada, you can visit an RBC branch (with some identifying documents) to open a chequing account. You will then receive an initial lump payment into your new account. Monthly payments from your GIC will be deposited into your account until the GIC is redeemed in full.

If you wish to defer your start date, please notify your RBC advisor and they will assist you in updating your GIC.

After your payment is received by RBC, it will take 3 business days to process and receive a verifiable GIC certificate from RBC on the ApplyProof platform.