Historical note: this thread reflects the 2022 SDS-era requirement of a CAD 10,000 GIC. The required amount and the SDS stream itself have changed since — always confirm the current figure on IRCC's website before transferring money.
The confusion in this thread (10,000 vs 10,250) comes from bank processing fees, which are charged on top of the GIC deposit:
- The minimum that must land in the GIC is CAD 10,000. That is what the application requires — not 10,250.
- Banks deduct a setup/processing fee from your transfer. Members cited roughly CAD 200 at Scotiabank and CAD 150 at CIBC. So people transfer 10,150–10,250 total to make sure a full 10,000 reaches the GIC.
- Add a small buffer (about CAD 50) to cover fees and exchange-rate rounding. One member transferred 10,200 to CIBC (fee 150) and ended up with 10,032 in the account — comfortably over the line.
- If your GIC certificate already shows CAD 10,000 or more, you are done. Members were unanimous: once the certificate is issued at or above the minimum, do not send any additional money. A certificate showing 10,006 was confirmed as fine.
In short: the extra ~200 people mention is the bank's fee, not a higher GIC requirement. Transfer enough to cover the fee, then rely on the issued certificate amount.