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 (鈥淚RCC鈥) 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鈥檚 minimum financial requirement; this amount can be found聽.
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).