Funds can be transferred from the student or parent’s account. A GIC is a fixed deposit that has a guaranteed rate of return over a fixed term and provides proof of funds required for the SDS student visa application. Students applying through the Student Direct Stream (SDS) visa, must open a Guaranteed Investment Certificate (GIC) account with approved banks in Canada. This collaboration provides account holders, access to over 1,200 RBC branches and 4,200 RBC ATMs across Canada, an RBC credit card with a limit up to CAD 15,000 plus other exclusive offers.Ĭountry-specific student accounts Student GIC for Canada ICICI Bank Canada has collaborated with Royal Bank of Canada (RBC) to make it easier for newcomers (PR, study and work permit holders) to help settle in Canada by giving them access to their products. ICICI Bank India customers can also open a Canadian savings account in their home country before their move. ![]() Similarly, ICICI Bank Hello Canada offers Permanent Residents (PR) and work permit holders the convenience of opening a Canadian chequing account prior to moving to Canada. You also get access to internet banking, debit card, and mobile banking. You can open this account while you are still in India or from the UK. All credits to your international bank account from India should be made in accordance with the prevailing Foreign Exchange Management Act (FEMA) regulations and the outward remittance limits defined under the prevailing Liberalised Remittance Scheme (LRS) regulations.Ĭertain banks provide migrating students and young professionals from India the convenience of opening country-specific accounts digitally, while they are still in India.įor instance, ICICI Bank UK offers the advantage of opening Home Vantage Current Account completely digitally and instantly using ICICI Bank UK iMobile Pay. You can fund this account from your resident savings account before moving abroad. Online bill payments, standing instructions, and direct debit facilitiesĬash withdrawal from ATMs in the local currency of your destination country. ![]() Transfer of funds to any bank in India or overseas. You can avail below listed benefits after arrival in a new country after fulfilling applicable banking regulations and regulatory requirements Proof of funds certificate from an overseas bank which can assist in visa application Residents moving abroad on permanent residency or work/study visas (with a validity for more than six months), can open international bank accounts.īenefits of opening an international bank accountĪn international bank account facilitates seamless banking in a foreign country by providing a variety of features and benefits which may include:An international bank account facilitates seamless banking in a foreign country by providing a variety of features and benefits which may include:Īccount opening before you move overseas.įlexibility to deposit funds into your account up to permissible limits An international bank account or an overseas bank account is a secure and convenient way to conduct banking and financial transactions in the local currency of your destination country. Planning to move abroad for work, studies or relocation? Don't let banking and financial transactions hold you back. ![]() The position reflected in this article has been updated as of January 15, 2024. Please note, these are in-depth articles which are best viewed on large screen devices like laptops, desktops and tablets. The below content is purely for informational purposes and is not intended to constitute advisory of any kind.
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