A member asked whether a GIC was still worth getting even outside the SDS stream, which bank to use, and what happens to the GIC funds if the visa is rejected — specifically for a student sending money from the UAE.
What the thread clarified:- The GIC deposit should come from the student's own bank account in their home country, not their country of residence if different. One member's own refund was affected because they'd sent the deposit from a bank in Saudi Arabia (their country of residence) rather than their home country — worth being mindful of this distinction if you live abroad.
- Scotiabank was used successfully by one member, who recommended carefully reading the bank's own guide before making the transfer, since requirements and processes can be bank-specific.
- If your visa is rejected, you don't get the full GIC amount back immediately or in full. Refunds typically deduct processing fees, and additional amounts can be lost to foreign currency exchange rate differences between when you deposited and when it's refunded.
The practical takeaway: fund your GIC from your own bank account in your actual home country (not your country of residence, if different), read your chosen bank's guide carefully (Scotiabank was used successfully by one member), and expect a rejected-visa refund to come back reduced by processing fees and FX conversion losses, not the full original amount.