#cibc international transfer

[merchantservices444]

International Payment Transfer

[sonalisethi]

All You Need to Know About the GIC Canada Requirement and Process

Understanding the financial prerequisites of studying abroad is critical—especially when it comes to visa approvals. One of the most important components for international students applying through the Student Direct Stream (SDS) is the GIC Canada requirement. A Guaranteed Investment Certificate (GIC) ensures that students have enough funds to support their living expenses during their stay in Canada. But what exactly is GIC, why is it necessary, and how do you go about it?

What is a GIC and Why Is It Required?

A GIC is a financial product provided by Canadian banks to guarantee that international students have access to living funds upon arrival. Under the SDS category, students from countries like India, China, and the Philippines must submit proof of purchasing a GIC worth at least CAD 10,000. This is a key requirement in securing a student visa Canada and reflects your readiness to live independently while studying.

The funds are usually released in portions each month once the student lands in Canada, providing financial stability throughout the first year of study.

Step-by-Step GIC Process for Indian Students

The process is straightforward, yet it must be followed with accuracy. After receiving your Letter of Acceptance from a Designated Learning Institution (DLI), you choose a participating bank in Canada that offers GICs to international students. Once selected, you create an account, transfer the required amount, and receive an Investment Balance Confirmation or Certificate—documents necessary for your SDS visa application.

Students looking to study in Canada for Indian students often opt for banks like Scotiabank, ICICI Bank Canada, or CIBC due to their simplified GIC processes and faster approvals.

Timing Your GIC Application Right

Timing is key. Apply for your GIC early, ideally soon after your university admission confirmation. This avoids last-minute delays and strengthens your SDS application file. Canadian immigration officers expect clarity and proof that your financial obligations have been responsibly managed.

In addition to tuition, understanding the cost of study in Canada is important while budgeting. GIC forms only a part of the overall expenditure. Ensure that you're financially prepared for other essentials like housing, books, health insurance, and transportation.

Make Informed Financial Decisions

If you're unsure about where to begin or how to evaluate different GIC providers, working with a professional study abroad consultant can simplify the process. These experts help students select the best financial products and provide clarity on visa documentation, timelines, and eligibility requirements.

Partnering with MSM Unify for a Smooth Process

MSM Unify is a platform that assists students through every step of their education journey. From choosing a university to understanding the GIC process and preparing visa documents, MSM Unify offers credible information and timely support, especially for those planning an overseas education.

The GIC requirement may seem like just another document, but it's a crucial part of proving your financial readiness for studying in Canada. Get it right, and you're one step closer to achieving your dream of a global education. Also read: Exploring Lucrative and Growing Career Opportunities in Canada After Graduation

[puneethc]

GIC Canada Explained: What Indian Students Need to Know Before Applying

When planning to study in Canada, Indian students must understand the Guaranteed Investment Certificate (GIC) a critical part of the student visa process. Here’s a detailed breakdown of what a GIC is, why it's required, and how it works in 2025.

What is a GIC?

A Guaranteed Investment Certificate (GIC) is a secure investment product offered by Canadian banks and financial institutions. It ensures that international students have the necessary funds to support themselves during their first year in Canada.

Why Do Indian Students Need a GIC?

Under the Student Direct Stream (SDS), Indian students must show proof of a GIC to qualify for a study permit. This requirement ensures students can afford living expenses without financial stress during their studies.

How Much Should You Invest in 2025?

As of 2025, Indian students must invest CAD 20,635 in a GIC account. This amount is held by a Canadian financial institution and disbursed monthly or bi-monthly to cover living expenses over a 12-month period.

Steps to Obtain a GIC:

Choose a Participating Bank: Banks like Scotiabank, ICICI Bank Canada, CIBC, and others offer GIC programs.

Apply Online: Open a GIC account through the bank’s international student portal.

Transfer Funds: Transfer the required amount from your home bank in India.

Get a GIC Certificate: After the bank receives the funds, you’ll get a GIC certificate, which is essential for your visa application.

GIC Disbursement Process

Once you arrive in Canada and complete in-person verification at the bank, you’ll receive an initial lump sum (usually CAD 2,000) for immediate needs. The rest will be paid out in equal installments over 10–12 months.

Key Benefits of GIC

Financial security: Ensures students have funds for basic expenses

Visa requirement compliance: Mandatory for SDS visa processing

Convenient money management: Structured monthly disbursements

Support from MSM Unify

Navigating the GIC process can be complex, but with support from MSM Unify, students get step-by-step assistance. The platform offers detailed resources and connects students with authorized banks, streamlining the entire process.

Final Thoughts

Understanding the GIC process is a vital step for Indian students planning to study in Canada. It’s not just a visa requirement but also a financial tool to help manage your cost of living abroad. With guidance from MSM Unify, students can secure their GIC smoothly and focus on their academic journey with confidence.

Also read: Cost of Study in Canada for Indian Students: Complete Breakdown for 2025

[pratiksha-more]

What is a GIC for Canada? A Complete Guide for Students

Planning to study in Canada? If you are an international student, you may need to provide proof of funds to support your stay. One of the most common ways to do this is through a Guaranteed Investment Certificate (GIC). In this guide, we’ll explain what a GIC is, why it’s important, and how you can apply for one.

What is a GIC?

A GIC (Guaranteed Investment Certificate) is a short-term investment offered by Canadian banks and financial institutions. It ensures that international students have sufficient funds to cover their living expenses while studying in Canada. The Government of Canada requires students applying for a study permit under the Student Direct Stream (SDS) to purchase a GIC as proof of financial stability.

Why Do Students Need a GIC?

A GIC Canada account helps international students meet the financial requirements for a study permit. The main benefits include:

Proof of Funds: It serves as proof that students have enough money to support themselves.

Faster Study Permit Processing: Students applying through the SDS program may receive their visa faster.

Financial Security: A GIC ensures that students receive a fixed amount every month for their living expenses.

How Does a GIC Work?

Open a GIC Account: Choose a participating Canadian bank and apply for a GIC Canada account.

Deposit the Required Amount: Most banks require students to deposit around CAD 10,000 to CAD 20,000.

Receive an Investment Confirmation: Once the deposit is complete, the bank issues an Investment Balance Confirmation, which can be used for the study permit application.

Access Funds Upon Arrival: After arriving in Canada, students can withdraw an initial amount (usually CAD 2,000) and receive the remaining balance in equal monthly installments over 12 months.

Which Banks Offer GICs for International Students?

Many major Canadian banks provide GIC services for students. Some of the most popular options include:

Scotiabank

CIBC (Canadian Imperial Bank of Commerce)

RBC (Royal Bank of Canada)

ICICI Bank Canada

SBI Canada Bank

Each bank has its own terms, so it's essential to compare interest rates, processing times, and fees before selecting one.

Step-by-Step Process to Open a GIC Account

Choose a Bank: Select a bank that offers a GIC program for international students.

Complete the Application: Apply online through the bank’s official website.

Fund Your Account: Transfer the required amount to your GIC account.

Receive a Confirmation: The bank will issue a confirmation document for your study permit application.

Activate Your Account Upon Arrival: Once in Canada, visit a local branch to activate your account and receive your initial deposit.

GIC Refund Process

If your study permit application is refused or you decide not to study in Canada, you may be eligible for a refund. Each bank has a refund process, but generally, you must:

Provide proof of visa rejection or study permit cancellation.

Submit a refund request along with supporting documents.

Wait for the bank to process the refund, which may take a few weeks.

Final Thoughts

A GIC Canada account is an essential requirement for students applying under the SDS program. It provides financial security and helps in faster visa processing. Choosing the right bank and understanding the process will make your transition to studying in Canada much smoother.

For more details on GIC Canada, check out this guide.

[afreenjavaid]

GIC in Canada: What It Is and How to Get It

International students aiming to study in Canada should be familiar with the Guaranteed Investment Certificate (GIC). The GIC Canada is a crucial financial requirement for obtaining a Canadian student visa through the Student Direct Stream (SDS) program. This blog by MSM Unify overseas education consultants provides an overview of GICs in Canada, why they are important, and how to acquire one.

What is a GIC?

A Guaranteed Investment Certificate (GIC) in Canada is a secure investment product offered by Canadian banks. When you invest a specific amount of money in a GIC, the bank holds it for a set period. At the end of this term, the bank returns your initial deposit along with accrued interest. For international students, a GIC serves as proof that you have sufficient funds to cover your living expenses while studying in Canada.

Why is a GIC Important for International Students?

The Canadian government requires international students to demonstrate financial stability. A GIC in Canada meets this requirement by ensuring you have a reliable source of monthly funds for your living expenses. This financial proof helps expedite the visa application process, making it more efficient and effective.

How to Get a GIC in Canada

Securing a GIC in Canada involves several steps, and MSM Unify overseas education consultants are here to help streamline the process:

Choose a Participating Bank: Not all banks offer GICs to international students. Major Canadian banks like Scotiabank, CIBC, and RBC have specialized GIC programs. MSM Unify can guide you in selecting a reputable bank.

Open a GIC Account: Visit the bank’s website and follow the instructions to open a GIC account. You will need to complete an application form and provide necessary documents, such as your passport and an acceptance letter from a Canadian institution.

Transfer Funds: Once your account is set up, transfer the required amount—typically CAD 10,000—into your GIC account. The bank will provide detailed instructions on the transfer process, including any fees and processing times. MSM Unify can assist with this step to ensure a smooth transaction.

Receive Confirmation: After the bank receives your funds, they will issue a GIC certificate or confirmation letter. This document is essential for your visa application, as it verifies your financial capacity.

Include GIC in Your Visa Application: Submit the GIC certificate along with your other visa application documents to the Canadian visa office. The GIC confirms that you meet the financial requirements for the Student Direct Stream (SDS) program.

Managing Your GIC in Canada

Upon arriving in Canada, you will need to activate your GIC account at the bank. Initially, the bank will provide a portion of your funds, with the remaining amount disbursed in monthly payments over 10 to 12 months. This ensures a steady flow of cash to cover your living expenses.

Tips from MSM Unify Overseas Education Consultants

Start Early: Begin the GIC application process well in advance to avoid last-minute issues. MSM Unify can help you stay organized and on schedule.

Follow Instructions Carefully: Each bank has specific procedures and requirements. Adhere to these instructions closely to prevent complications.

Seek Professional Guidance: MSM Unify’s expertise can offer valuable insights and support throughout your GIC application journey, making the process easier and more efficient.

Conclusion

A GIC in Canada is a vital component for international students applying for a student visa under the SDS program. It provides necessary financial proof and ensures access to funds during your studies. By following these steps and seeking assistance from MSM Unify overseas education consultants, you can navigate the GIC application process smoothly and focus on your educational journey in Canada.

[nikdayanaaa]

packing, filling, stuffing, preparing.

13 days until D-day. 15 December 2019. I’m here to update on my preparation to take off into a whole beginning. new country, culture. basically, to another side of the world.

It took me one month or so to finalized the lists. from university, housing, canada’s immigration, to things to pack in three different suitcase. phew! anyway, below are the checklist;

as per guidelines given by uni to pack (bring) when we landed to Montreal

Passport

Letter of Introduction from Canadian Visa Office

Birth Certificate

Money for first week in Canada

Proof of Financial Support

Travel Insurance

Offer Letter

following by arrival checklist are just go to UPEI, get a CampusCard student ID, print Medical Insurance Card, apply for PEI Health Card and of course, open a bank account!

since my parents are coming too, we decided to have one luggage each, two bag pack (one for me, one for my father) and two hand luggage (one for me, one for my mother) but overall, two luggage are solely for my purpose! one for food stocks and one for clothing, toiletries, etc. 

foods

Tom Yum Paste

Tom Yum Chili Paste

Tauchu

Kicap Manis ABC/ Habhal

Knors Kiub Pati Ayam/ Ikan Bilis, Tom Yum

Maggi 

Tempoyak

Budu

Petai

jk, i cant bring those three. oh how I wish I can. 

moving on to the next thing what to pack in the bag pack and hand luggage.  

bag pack

Medications

Power Bank

Laptop

Laptop Charger

Earphones

Important Documents

Passport 

Wallet

Hand Lotion

Facial Wipes

Basic Skin Care tools and Make Up (not more than 100ml)

Novel

Pen

since i’m travelling on winter and obviously, i need winter clothes in my hand luggage! 

Toothbrush

Toothpaste

Winter Jacket

Heat-Tech Legging

Heat-Tech Shirt

Fleece Jacket

Socks

Gloves

Winter Hat

Telekung

Sejadah

that’s basically it. other necessities will be packed in the luggage such as hijabs, nike go-flex shoes (for running and walking, casual) jeans, sweaters, skirts, etc. 

one month-to-three weeks before, we settled payment issues like tuition fees, accommodation deposits and first-forward rental, proof of immigration status, and even finding out what bank account to open later on, as well as phone plans. let me tell you, Canadian phone plans are SO expensive! the cheapest one that i found so far also cost around 30-50CAD just for 1 or 2 GB per month without basic internet. (sigh) because most people use public Wi-Fi, it’s everywhere and fast speed. 

for bank account, we decided to open on CIBC (Canadian Imperial Bank of Commerce) its the closest from campus and my accommodation (51 Grafton St) and most convenient for students - they offer scholarships, loans, credit card benefits, and other things that are really useful for students including international ones. not to forget, they have their ATM machine on campus too! accommodation deposit were made through Maybank Telegraphic Transfer (MTT) and tuition fees were made done through Western Union Global Pay for Students that are used by UPEI for international payments. (they are trusted world-wide, around hundred thousands of uni)

Maybank TT: https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/services/funds_transfer/overseas/foreign_telegrapic_transfer.page

Western Union Global Pay for Students: https://student.globalpay.wu.com/geo-buyer/upei

last but not least, shout out to these people for squeezing me into their busy schedule to come sleepover to my house, hanging out and even mengopi together;

the one and only, azrul

the best friend ever #1, syaqira 

the best friend ever #2, dian suraya

my long lost connection soul friend, farah dinah

childhood friends; aina, aleea, vivi, farzana

starbucks gang; amira, syahira, danial 

only dallas, syafiqah auni

high school friends; raja, wafiq, ikmal, najwa

god bless yalls amazing souls. thank you for the times, definitely will not forget everyone. also, shout out to azrul, syaqira, suraya, farah, aina, vivi, aleea and farzana for the farewell gifts! alhamdulillah for everything, i dont know if i deserve all this but thank you Allah for showering me with your bless. couldn’t ask for more :) 

[socutesoevil]

MCL Campus Life is set in Canada

True story.

If you look closely at the park background there are some tall corporate buildings in the distance and with their names. I counted four: BMO (Bank of Montreal), CIBC (Canadian Imperial Bank of Commerce) Manulife (a Canadian insurance company) and AON (a UK insurance company).

I’m going to set aside AON since they’re global and consider the three Canadian companies. All of them have international branches so their company buildings could easily be seen in any major metropolis downtown. But three of them together? A bit too much of a coincidence.

We also know that MCL is located in a small town. Kim mentions it at the end of CL Episode 2 when Candy says it’s the only gym she has seen around. (Granted, in order for a city to have only one gym it would need to be tiny, so I’m just going to assume they meant no other gym in their neighbourhood.)

So three Canadian company towers, within a block of each other, in a small city. Yup, it’s in Canada.

But where in Canada?

Now that you’re coming down this curious and nerdy rabbit hole with me, let’s go down a bit more. What universities in small Canadian cities offer Art History degrees? (For reference, I’m looking at any city a population of 175k or less.) 

Kingston, ON at Queen’s U || pop. 129k

Guelph, ON at U of Guelph || pop. 129k

Victoria, BC at U of Victoria || pop. 84k

Abbotsford, BC at U of Fraser Valley || pop. 141k

Sackville, NB at Mount Allison U || pop. 5.3k

Sherbrooke, QC at Bishop’s U || pop. 162k

Degree information via Study Portal

Population information from most recent census via Google

Guelph,Victoria and Sherbooke all have at least one BMO, CIBC, Manulife and AON. Thus it could be one of those three. My bet would be on Sherbrooke because it’s French-speaking or Victoria, (because that park, c’mon).

So there you go. Hope you had fun playing I Spy with me!

Possible IFs

If MCL is located in Canada it makes sense for Amber to be studying either French or English to improve her career because Canada is bi-lingual.

If it’s set in Quebec then any French mentions (like Miss France and Nath’s cat being called Blanche) wouldn’t be so strange.

If Candy’s father was transferred to a far away province it would explain the expensive train fares. Via Rail is pretty damn pricey for long distances.

(More likely the artist who drew it is Canadian or used a reference of a Canadian city. But I thought it was kind of neato.)

[college-girl199328]

More than 13 months after the invasion of Ukraine, Canadians with no ties to President Vladimir Putin or his regime remain frustrated and anxious as salaries earned abroad, retirement investments and even funeral savings sit frozen among the assets caught up in Canada's sanctions net.

Ingrid Morton and her husband Graham are among them. For years, they travelled the world on a series of contracts teaching English at international schools. Their final accord was in Almaty, Kazakhstan.

But when political unrest erupted in street protests and local authorities declared a state of emergency in early 2022 — followed closely by Russia's invasion of Ukraine — they decided to leave the region before their contracts ended. They'd already had a bad experience trying to get out of China when COVID hit. Ingrid was ready to retire.

"I just thought, 'Oh my God, I can't take this anymore. This is crazy,'" she said. The Mortons now live in Toronto. But not all the salaries they earned teaching in Kazakhstan to Canada with them.

Their school put its foreign teachers' salaries into accounts with Sberbank Kazakhstan, a subsidiary of Sberbank Russia listed among the financial institutions being sanctioned by Canada.

Last year, Sberbank Kazakhstan restructured to escape international sanctions. But that corporate changeover hadn't happened yet when Ingrid made what had been, up to that point, a routine transaction for them as teachers abroad — a money transfer from their school's local Sberbank branch to a CIBC branch in Canada.

Ingrid transferred the couple's money on March 1, 2022 — one week after Canada imposed sanctions on multiple Russian banks. "I asked the financial person at our school, 'Can I still send money to Canada?' And she said yes," Ingrid said. "I went to the bank, and it was total mayhem … I said, 'Can I send money out?' And they said yes."

Previous transfers to Canada had appeared in their Canadian account within a few days. This one didn't. "I sent it in good faith that it would arrive," she said. "Sberbank said, 'Well, we've sent it. We're not responsible. It's gone.'"

Ingrid said she believes this transfer, worth about $10,000, was frozen by the Canadian government because of the bank it came from — a bank their employer picked, not them.

"It's not fair," Ingrid said. "Don't they know that Kazakhstan is a country? I didn't send such a huge amount like a Russian oligarch's probably going to send … It seems really stupid on their part to just lump me in with that."

Ingrid applied for a permit to release the couple's money — joining a long queue that's believed to be straining the capacity of Global Affairs Canada (GAC) to run due diligence and grant exemptions. It's impossible to reach anyone at GAC by phone, she said.

"Why is it taking them about a year, and I haven't even had an e-mail from a person?" she said, adding that all she and her husband receive back are automated messages.

"How long is the war going on could be years, and my look at individual cases." While the dollar value of their frozen assets doesn't pose a significant hardship for the Mortons, Ingrid said she feels for those who are missing gigantic amounts.

"There's a lot of innocent people suffering," she said. "I wouldn't expect something like that to be happening in Canada. I would expect fair treatment."

Derek Nickerson said he doesn't consider himself a wealthy person; the Nova Scotian retiree was savvy enough about international investing to shop around in other jurisdictions in search of better rates of return for his retirement savings.

He and his wife opened U.S. dollar accounts at ArmSwissBank, based in Armenia, in 2015. Last March, as interest rates shifted, they $35,000 US to an RBC account. He said he saw their money arrive in the account's records on March 17 — and then disappear on March 22.

He contacted RBC and learned that the money had transited through a correspondent bank in Russia — Alfa Bank, which is on Canada's sanctions list.

"When I ask for a SWIFT transfer, I don't know how come," Nickerson said. He said he didn't learn his transfer had been routed through a sanctioned bank until it was too late.

In the year since, he's struggled to get information from RBC and applied for an exemption from GAC but has heard little response. "I wonder if they're not going to do anything until the war," he said.

While his money is frozen, he's not earning interest. He fears it's losing value at a higher rate because of recent high inflation. "That's our retirement money," he said.

Angelina Ermakov's mother has been a Canadian citizen since 2015, after moving to Ottawa to live with her daughter's family in retirement.

Following a Russian tradition, her mother saved enough money for her funeral — about a million rubles, or $17,000 in Canadian funds — in the Russian bank branch next door to where she used to live in Moscow.

Ermakov finally convinced her mother to move her "funeral money" to her Canadian bank account last February. But the wire transfer from Alfa Bank didn't go through before the sanctions rules kicked in.

"It's all of her savings. That's her peace of mind," Ermakov said. "She asks me every day where they are." No one in their family is associated with the Putin regime; she wonders if her transfer was targeted because of her mother's Russian surname.

"[This is] not blood money or money supporting the war," said Ermakov, who has lived in Canada since 1990. "We do not support the war because we already come and live in a different country."

Ermakov said with RBC that the money's being held until and unless GAC authorizes its release. She said she's heard nothing but "radio silence" from the government.

"It's like talking to a wall because there isn't anyone responding or dealing or even reading emails at this point. I mean, it's been a year," she said.

Ermakov works in the federal public service. She said she finds it hard to believe the department's too overwhelmed to process her mother's application quickly.

"It's clear that it's a policy," she said "It is intentional because when there is a volume of work, you hire … you pay overtime to people, you bring more people to that team or you get another team to work on this issue … I've seen it done before."

All three of these cases are believed to be among several hundred sitting on Foreign Affairs Minister Mélanie Joly's desk — languishing among the more than $122 million in funds frozen by Canadian authorities since the invasion of Ukraine.

One person who spoke to CBC News earlier this winter finally got access to her family's savings last month. The RCMP, which tracks the total amounts of frozen assets and blocked transactions under Canada's Special Economic Measures Act, told CBC News on Monday that its tally has not changed substantially since December.

"Canada is judicious in its approach to deploying sanctions, and we are committed to their effective and coordinated use," Grantly Franklin, a media spokesperson for the department, wrote in response to specific CBC questions about the department's backlog in processing exemption requests.

In October, the federal government allocated $76 million to the sanctions. "Global Affairs Canada will use its portion of this investment to expand the capacity of the sanctions policy and coordination team," Franklin said.

"Our sanctions aim to apply pressure on foreign actors, not on Canadians."

[thechasefiles]

Customers peeved at bank’s ‘sudden’ moves CIBC FirstCaribbean International Bank is exiting the asset management business in Barbados, proposing to transfer the Registered Retirement Savings Plan (RRSP) accounts of its clients to insurance giant Sagicor Life Inc. However, some policyholders are upset that the notice informing them of the intended change gave too little time for them to make an informed decision. In the letter notifying account holders, CIBC FirstCaribbean said the decision to exit its Barbados-based asset management business was not made lightly. “At this stage our main goal is to ensure that there is a seamless transition of your arrangements with us to whichever option you choose,” the bank said. The financial institution went on to inform clients that arrangements had been made with Sagicor Life Inc., who is a RRSP provider, to take over the portfolio should they choose that option. The options are to withdraw the contributions, agree to the transfer to the Sagicor, or transfer the funds in the account to a RRSP with another service provider. Transferring to another RRSP provider will not attract the 25 per cent tax penalty. However, some account holders have been caught off-guard by the deadline for a decision to be made and the penalty they could incur should they miss the deadline. According to the notice dated October 1, 2021, if the holder of the RRSP wished to have it transferred to Sagicor, they are to fill out the necessary application form and the related onboarding documents and send them to an email address provided “no later than November 1, 2021”. However, those who vented their frustration to Barbados TODAY complained that they only received the notification at the end of October. “I received the email on October 21,” said one RRSP client. Further, the letter to the clients said “If we do not receive a withdrawal or transfer request from you by November 8, 2021, we will understand you to require a transfer of assets (less 25 per cent withholding tax) and we will communicate with you further in this regard, if necessary.” Read the rest of the article in the comment section below 👇🏾 https://www.instagram.com/p/CV4-KL6rlWY1N9JiSaY5KqJdS-W-mMWUpd2kto0/?utm_medium=tumblr

[sonalisethi]

GIC Canada Explained: Eligibility, Benefits, and How to Apply

If you're an international student planning to study in Canada, you've probably come across the term GIC—Guaranteed Investment Certificate. It plays a crucial role in the Student Direct Stream (SDS) visa process and is often a requirement for Indian students aiming for faster visa approvals. But what exactly is a GIC, who is eligible, and how do you apply?

This guide will help you understand the full picture of GIC in Canada, covering eligibility criteria, benefits, and a step-by-step process to apply smoothly.

What Is a GIC in Canada?

A Guaranteed Investment Certificate (GIC) is a secure investment offered by Canadian banks to help international students prove they can financially support themselves upon arrival. As part of the Student Direct Stream (SDS), purchasing a GIC worth CAD 10,000 is mandatory for students from countries like India, China, and the Philippines.

The invested amount is refunded in installments to help cover your living expenses while you study in Canada.

Why GIC Is Required for Indian Students?

The Canadian immigration authorities want assurance that incoming students have the financial means to support themselves without burdening the system. GIC offers that proof.

It serves two purposes:

Acts as proof of funds during the student visa application

Provides regular financial support after landing in Canada

Eligibility Criteria for GIC Canada

To apply for a GIC, you must meet the following conditions:

Nationality

You must be a legal resident of an eligible country. Indian students are eligible to apply under the SDS category.

Admission to a DLI

You must have an admission letter from a Designated Learning Institution (DLI) in Canada.

Valid Passport

A passport with at least six months of validity is required.

Proof of Funds

You must be able to transfer the required CAD 10,000 (or more) from a financial institution in your home country to the Canadian bank issuing the GIC.

Benefits of GIC for International Students

Faster Visa Processing

Students who apply under the SDS route with a valid GIC receive faster processing times—typically within 20 calendar days.

Financial Security

You’ll receive monthly payments from the GIC that help manage living expenses like accommodation, transportation, and food.

Safe Investment

The amount is protected and regulated by the Canadian government, ensuring zero financial risk.

Simplified Budgeting

Having a fixed monthly payout plan allows you to manage your funds efficiently during your stay in Canada.

How to Apply for GIC in Canada: Step-by-Step Guide

Step 1: Choose a Participating Bank

Select a Canadian bank or financial institution approved by IRCC. Popular options include:

Scotiabank

ICICI Bank Canada

SBI Canada

CIBC

Step 2: Register for a GIC Account

Visit the official website of your chosen bank and register for a student GIC account. Fill in the required information and upload your passport and Letter of Acceptance from your DLI.

Step 3: Transfer Funds

Once your account is approved, transfer CAD 10,000 (plus applicable service charges) from your home country. Banks will issue a confirmation or Investment Balance Certificate as proof.

Step 4: Submit GIC Proof with Visa Application

Upload the certificate as part of your Student Direct Stream visa application to IRCC.

Step 5: Receive Funds in Canada

After arriving in Canada and verifying your identity, you’ll receive an initial portion (typically CAD 2,000) upfront, followed by monthly installments for up to 12 months.

Things to Keep in Mind

Apply for your GIC at least 4–6 weeks before your visa application

Double-check exchange rates and bank service fees

Ensure you use your own bank account for the transaction

Some banks offer student-friendly features like no-fee accounts, so compare options

Conclusion: Make Your GIC Process Hassle-Free

Understanding the GIC system in Canada is essential for a smooth transition as an international student. From eligibility to monthly payouts, it’s designed to support you throughout your academic life. A well-planned GIC application can fast-track your visa approval and give you financial peace of mind when you land in Canada.

Need help navigating the GIC process or choosing the right bank? Visit MSM Unify your one-stop platform for everything related to studying in Canada. From expert counseling to documentation and financial planning, MSM Unify simplifies your entire overseas education journey.

Also read: Breaking Down the Real Cost of Studying in Canada for IndianStudents

[puneethc]

GIC Canada Explained: Everything Indian Students Must Know Before Applying

For Indian students planning to study in Canada, understanding the Guaranteed Investment Certificate (GIC) is an essential part of the student visa process. The GIC isn’t just a financial requirement—it’s a part of proving your ability to live and study in Canada independently. If you're wondering what GIC is, why it's important, and how to apply for it, this article will give you a clear, step-by-step breakdown.

What is a GIC in Canada?

A Guaranteed Investment Certificate (GIC) is a short-term investment offered by Canadian banks to international students. It serves two purposes:

Proof of Funds for Visa Approval – Immigration, Refugees and Citizenship Canada (IRCC) requires international students to show proof that they can support themselves financially. The GIC fulfills this requirement.

Living Expense Support – Once in Canada, students receive monthly payments from their GIC account to cover living expenses.

As of 2025, Indian students must invest CAD 20,635 in a GIC to meet the IRCC’s financial requirement under the Student Direct Stream (SDS) category.

Why Do Indian Students Need a GIC?

The GIC is a mandatory requirement for those applying through SDS, which offers faster visa processing. Here’s why Indian students should take it seriously:

Faster Visa Processing: SDS visa applications are usually processed within 20 days when all documents (including GIC) are correctly submitted.

Financial Security: You’re assured of having living expenses covered as soon as you land in Canada.

Banking Setup Made Easy: Most GIC providers help you set up a Canadian bank account even before you arrive, saving you time and effort.

How Does the GIC Process Work?

Here’s a simplified breakdown:

Choose a Designated Bank Only select Canadian banks are authorized to offer GICs to international students, such as:

Scotiabank

ICICI Bank Canada

SBI Canada

CIBC

RBC

Open a GIC Account Apply online through your chosen bank’s GIC portal. Submit identity proof like your passport and admission letter from a Designated Learning Institution (DLI) in Canada.

Transfer Funds Transfer the required amount (CAD 20,635 for 2025) from your Indian bank to your Canadian GIC account.

Receive a GIC Certificate Once the money is deposited, the bank issues a GIC certificate, which you submit during your visa application.

Withdraw Funds in Canada After arriving in Canada, you'll get an initial lump sum (usually CAD 2,000) and the rest is released monthly for 10-12 months.

Important Tips Before Applying

Start Early: GIC approval can take a few days to a couple of weeks, depending on the bank and document verification.

Keep Documents Ready: Ensure your passport, admission letter, and bank KYC documents are up-to-date.

Choose the Right Bank: Compare processing time, support services, and fees across banks before finalizing.

Common Questions Answered

Can I cancel my GIC? Yes. If your study permit is refused or you decide not to study in Canada, your GIC can be cancelled and refunded.

What if I need more funds? The GIC covers your living expenses, but tuition and other costs must be managed separately. Scholarships and part-time work may help.

Final Thoughts

For Indian students, the GIC is not just a financial product—it's a gateway to unlocking your dream to study in Canada. From smoother visa approvals to secured monthly allowances, it plays a crucial role in your study-abroad journey.

If you're looking for guidance on choosing the right GIC provider, comparing universities, or applying for a student visa, platforms like MSM Unify can make your entire process smoother and smarter. From expert counselling to one-click applications, MSM Unify is your trusted partner for studying abroad confidently.

Also read: Complete Guide to Study in Canada: Tuition, Living Costs & Scholarships for Indian Students

[juristique]

United States Swift Codes and BIC Codes – page 5

New Post has been published on https://www.juristique.org/en/swift-codes/united-states-swift-codes-page-5

United States Swift Codes and BIC Codes – page 5

Sommaire

1 United States Swift Codes and BIC Codes – page 5

1.1 Swift Code / BIC: CACHEMATRIX BROKER/DEALER LLC

1.2 Swift Code / BIC: CADENCE BANK, N.A.

1.3 Swift Code / BIC: CAIXA GERAL DE DEPOSITOS, NEW YORK BRANCH

1.4 Swift Code / BIC: CALIFORNIA BANK AND TRUST

1.5 Swift Code / BIC: CALIFORNIA PACIFIC BANK

1.6 Swift Code / BIC: CALIFORNIA REPUBLIC BANK

1.7 Swift Code / BIC: CAMBRIDGE SAVINGS BANK

1.8 Swift Code / BIC: CAMPBELL SOUP COMPANY

1.9 Swift Code / BIC: CANADIAN IMPERIAL BANK OF COMMERCE

1.10 Swift Code / BIC: CANARA BANK

1.11 Swift Code / BIC: CANTOR FITZGERALD AND CO.

1.12 Swift Code / BIC: CAPITAL BANK, N.A.

1.13 Swift Code / BIC: CAPITAL GUARDIAN TRUST COMPANY

1.14 Swift Code / BIC: CAPITAL ONE, N.A.

1.15 Swift Code / BIC: CAPITAL ONE,N.A.

1.16 Swift Code / BIC: CAPITAL RESEARCH AND MANAGEMENT COMPANY

1.17 Swift Code / BIC: CATERPILLAR INC.

1.18 Swift Code / BIC: CATHAY BANK

1.19 Swift Code / BIC: CATHAY UNITED BANK, LOS ANGELES AGENCY DBA CUBT

1.20 Swift Code / BIC: CAUSEWAY CAPITAL MANAGEMENT LLC

1.21 Swift Code / BIC: CBW BANK

1.22 Swift Code / BIC: CCM SECURITIES LLC

1.23 Swift Code / BIC: CELGENE CORPORATION

1.24 Swift Code / BIC: CENTERSTATE BANK OF FLORIDA

1.25 Swift Code / BIC: CENTRAL PACIFIC BANK

1.26 Swift Code / BIC: CENTRE ASSET MANAGEMENT, LLC

1.27 Swift Code / BIC: CENTURY BANK AND TRUST COMPANY

1.28 Swift Code / BIC: CERNER CORPORATION

1.29 Swift Code / BIC: CHANG HWA COMMERCIAL BANK, LTD., LOS ANGELES BRANCH

1.30 Swift Code / BIC: CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH

1.31 Swift Code / BIC: CHARLES SCHWAB AND CO., INC.

1.32 Swift Code / BIC: CHEMICAL BANK

1.33 Swift Code / BIC: CHICAGO BRIDGE AND IRON COMPANY

1.34 Swift Code / BIC: CHICAGO MERCANTILE EXCHANGE

1.35 Swift Code / BIC: CHINA CITIC BANK INTERNATIONAL LTD., LOS ANGELES BRANCH

1.36 Swift Code / BIC: CHINA CITIC BANK INTERNATIONAL LTD., NEW YORK BRANCH

1.37 Swift Code / BIC: CHINA CONSTRUCTION BANK NEW YORK BRANCH

1.38 Swift Code / BIC: CHINA MERCHANTS BANK CO., LTD.

1.39 Swift Code / BIC: CIBC WORLD MARKETS CORP.

1.40 Swift Code / BIC: CISCO SYSTEMS INC

1.41 Swift Code / BIC: CIT BANK

1.42 Swift Code / BIC: CIT GROUP INC.

List all banks United States Swift Codes and BIC Codes with the following information:

(adsbygoogle = window.adsbygoogle || []).push();

Bank code: 4 characters to identify the bank,

Country code: 2 characters constituting the ISO country code (ISO 3166-1),

Location code: 2 characters (alphabetical or numerical) to differentiate banks in the same country,

Branch code: 3 optional characters defining the agency as a bank branch.

United States Swift Codes and BIC Codes – page 5

Bank

Number

City

Information complement

Swift Code / Bic code

Bank code

Cou. code

Loc. code

Bra. code

Swift Code / BIC: CACHEMATRIX BROKER/DEALER LLC

BCQ 30442 DENVER, CO CHMXUS55 CHMX US 55

Swift Code / BIC: CADENCE BANK, N.A.

BCQ 30443 BIRMINGHAM, AL CDBKUS44 CDBK US 44

Swift Code / BIC: CAIXA GERAL DE DEPOSITOS, NEW YORK BRANCH

BCQ 30444 NEW YORK,NY CGDIUS33 CGDI US 33

Swift Code / BIC: CALIFORNIA BANK AND TRUST

BCQ 30445 LOS ANGELES,CA INTERNATIONAL BANKING GROUP CALBUS66LAX CALB US 66 LAX BCQ 30446 LOS ANGELES,CA CALBUS66 CALB US 66

Swift Code / BIC: CALIFORNIA PACIFIC BANK

BCQ 30447 SAN FRANCISCO, CA CBNKUS6S CBNK US 6S

Swift Code / BIC: CALIFORNIA REPUBLIC BANK

BCQ 30448 NEWPORT BEACH,CA CRBKUS6L CRBK US 6L

Swift Code / BIC: CAMBRIDGE SAVINGS BANK

BCQ 30449 CAMBRIDGE, MA CABGUS33 CABG US 33

Swift Code / BIC: CAMPBELL SOUP COMPANY

BCQ 30450 CAMDEN,NJ SOUPUS33 SOUP US 33

Swift Code / BIC: CANADIAN IMPERIAL BANK OF COMMERCE

BCQ 30451 NEW YORK,NY INTERNATIONAL BANKING FACILITY CIBCUS33IBF CIBC US 33 IBF BCQ 30452 NEW YORK,NY CIBCUS33 CIBC US 33

Swift Code / BIC: CANARA BANK

BCQ 30453 NEW YORK,NY CNRBUS33 CNRB US 33

Swift Code / BIC: CANTOR FITZGERALD AND CO.

BCQ 30454 NEW YORK,NY BGC FINANCIAL LP CANFUS33FIN CANF US 33 FIN BCQ 30455 NEW YORK,NY CANFUS33 CANF US 33 BCQ 30456 NEW YORK,NY CANFUS33CPB CANF US 33 CPB BCQ 30457 NEW YORK,NY CANFUS33ITD CANF US 33 ITD

Swift Code / BIC: CAPITAL BANK, N.A.

BCQ 30458 CORAL GABLES,FL CTAIUS33 CTAI US 33

Swift Code / BIC: CAPITAL GUARDIAN TRUST COMPANY

BCQ 30459 BREA,CA CGTCUS66 CGTC US 66

Swift Code / BIC: CAPITAL ONE, N.A.

BCQ 30460 NEW YORK,NY NFBKUS33 NFBK US 33

Swift Code / BIC: CAPITAL ONE,N.A.

BCQ 30461 NEW ORLEANS,LA HIBKUS44 HIBK US 44

Swift Code / BIC: CAPITAL RESEARCH AND MANAGEMENT COMPANY

BCQ 30462 BREA,CA CRMCUS66 CRMC US 66

Swift Code / BIC: CATERPILLAR INC.

BCQ 30463 PEORIA,IL CTPLUS44 CTPL US 44

Swift Code / BIC: CATHAY BANK

BCQ 30464 FLUSHING, NY NEW YORK BRANCH CATHUS6LNYC CATH US 6L NYC BCQ 30465 ROSEMEAD, CA CATHUS6L CATH US 6L

Swift Code / BIC: CATHAY UNITED BANK, LOS ANGELES AGENCY DBA CUBT

BCQ 30466 LOS ANGELES,CA UWCBUS6L UWCB US 6L

Swift Code / BIC: CAUSEWAY CAPITAL MANAGEMENT LLC

BCQ 30467 LOS ANGELES,CA CCALUS6L CCAL US 6L

Swift Code / BIC: CBW BANK

BCQ 30468 WEIR,KS CBWBUS44 CBWB US 44

Swift Code / BIC: CCM SECURITIES LLC

BCQ 30469 CHICAGO,IL CCMXUS44 CCMX US 44

Swift Code / BIC: CELGENE CORPORATION

BCQ 30470 SUMMIT,NJ CELGUS3S CELG US 3S

Swift Code / BIC: CENTERSTATE BANK OF FLORIDA

BCQ 30471 WINTER HAVEN,FL CSBKUS33 CSBK US 33

Swift Code / BIC: CENTRAL PACIFIC BANK

BCQ 30472 HONOLULU, HI CEPBUS77 CEPB US 77

Swift Code / BIC: CENTRE ASSET MANAGEMENT, LLC

BCQ 30473 NEW YORK, NY CESAUS33 CESA US 33

Swift Code / BIC: CENTURY BANK AND TRUST COMPANY

BCQ 30474 MEDFORD,MA CERYUS33 CERY US 33

Swift Code / BIC: CERNER CORPORATION

BCQ 30475 KANSAS CITY, MO CEOAUS44 CEOA US 44

Swift Code / BIC: CHANG HWA COMMERCIAL BANK, LTD., LOS ANGELES BRANCH

BCQ 30476 LOS ANGELES, CA CCBCUS6L CCBC US 6L

Swift Code / BIC: CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH

BCQ 30477 NEW YORK,NY CCBCUS33 CCBC US 33

Swift Code / BIC: CHARLES SCHWAB AND CO., INC.

BCQ 30478 SAN FRANCISCO, CA INTERNATIONAL FX WIRES CSCHUS6SINT CSCH US 6S INT BCQ 30479 SAN FRANCISCO, CA PFX CSCHUS6SPFX CSCH US 6S PFX BCQ 30480 SAN FRANCISCO, CA TREASURY CSCHUS6STRE CSCH US 6S TRE BCQ 30481 SAN FRANCISCO, CA WIRE TRANSFER SERVICES CSCHUS6SWTS CSCH US 6S WTS BCQ 30482 SAN FRANCISCO, CA CSCHUS6S CSCH US 6S BCQ 30483 SAN FRANCISCO, CA CSCHUS6SGLB CSCH US 6S GLB

Swift Code / BIC: CHEMICAL BANK

BCQ 30484 MIDLAND,MI CHEMUS33 CHEM US 33

Swift Code / BIC: CHICAGO BRIDGE AND IRON COMPANY

BCQ 30485 THE WOODLANDS, TX CBIMUS44 CBIM US 44

Swift Code / BIC: CHICAGO MERCANTILE EXCHANGE

BCQ 30486 CHICAGO,IL DELIVERIES XCMEUS4CDLV XCME US 4C DLV BCQ 30487 CHICAGO,IL FDM BALANCES XCMEUS4CNFA XCME US 4C NFA BCQ 30488 CHICAGO,IL FINANCIAL AND REGULATORY SERVICES XCMEUS4CREG XCME US 4C REG BCQ 30489 CHICAGO,IL XCMEUS4C XCME US 4C BCQ 30490 CHICAGO,IL XCMEUS4D XCME US 4D BCQ 30491 CHICAGO,IL XCMEUS4F XCME US 4F

Swift Code / BIC: CHINA CITIC BANK INTERNATIONAL LTD., LOS ANGELES BRANCH

BCQ 30492 ALHAMBRA,CA KWHKUS66 KWHK US 66

Swift Code / BIC: CHINA CITIC BANK INTERNATIONAL LTD., NEW YORK BRANCH

BCQ 30493 NEW YORK,NY KWHKUS33 KWHK US 33

Swift Code / BIC: CHINA CONSTRUCTION BANK NEW YORK BRANCH

BCQ 30494 NEW YORK,NY PCBCUS33 PCBC US 33

Swift Code / BIC: CHINA MERCHANTS BANK CO., LTD.

BCQ 30495 NEW YORK,NY CMBCUS33 CMBC US 33

Swift Code / BIC: CIBC WORLD MARKETS CORP.

BCQ 30496 NEW YORK,NY OPCOUS33 OPCO US 33

Swift Code / BIC: CISCO SYSTEMS INC

BCQ 30497 SAN JOSE,CA CSCOUS66 CSCO US 66

Swift Code / BIC: CIT BANK

BCQ 30498 SALT LAKE CITY, UT CITXUS55 CITX US 55

Swift Code / BIC: CIT GROUP INC.

BCQ 30499 NEW YORK, NY CITXUS33 CITX US 33

United States Swift codes and BIC codes are managed by the Society for Worldwide Interbank Financial Telecommunication and our page that includes all Swift codes and BIC codes, by bank name, country and continent, here: Swift codes and BIC codes.

Originally posted 2015-11-26 19:12:33.

[damajority]

DaMajority Fresh Article https://www.damajority.com/financial-institutions-adjust-banking-operations-saint-lucia/

FINANCIAL INSTITUTIONS ADJUST BANKING OPERATIONS | Saint Lucia

FINANCIAL INSTITUTIONS ADJUST BANKING OPERATIONS

The Bankers Association of Saint Lucia has confirmed that adjustments will be made to the banking services available to the public in keeping with the Hon. Prime Minister Allen Chastanet’s announcement of a partial scale down of all non-essential economic and social services from Monday, March 23, 2020 to Sunday, April 5, 2020. The following measures are in keeping with the implementation of the Heightened Protocol and Social Distancing Regime as part of a national response to the COVID-19 pandemic:

Adjusted Services During the period of the partial scale down, financial institutions will facilitate the following the services:  Over the counter teller services for personal and business customers from Monday to Friday from 8:00 a.m. to 12:00 p.m. o Special assigned hours for elderly from 8:00 a.m. to 9:00 am and the general public from 9:00a.m. to 12:00 pm.  Full ATM service including ATM deposits  Processing of urgent temporary credit facilities  Night depository services  Online wire transfers and online payroll service  Sign-ups for online banking service  Debit card and credit card replacements  Processing and clearing of cheques General lending services and opening of new accounts will not be available during the partial scale down to allow staff to attend to urgent and critical requests.

Heightened Protocol and Social Distancing Regime The association’s members are also committed to enforcing the principle of “social distancing” and will limit the number of customers in their banking halls of to a maximum of 20 customers for large branches and 10 customers for smaller branches. Customers waiting outside of banks will be encouraged to maintain a distance of at least 3 feet from each other to limit exposure to the virus.

Additionally, only staff who are critical to the banking services listed above will be asked to report to work during the partial scale down period and others with remote access who are not required to be in-branch will be asked to work from home.

Essential Service Professionals During the period of the partial scale down, special consideration will also be paid to persons employed in essential services such as the medical and healthcare professions and law enforcement to limit the amount of time spent in the banks and to allow them to quickly return to their critical functions. The Association stressed the customers also have an important role to play in ensuring that the partial scale down is executed smoothly and with minimal risk to the banking community. As Saint Lucia’s financial institutions work together to maintain access to critical banking functions, customers are strongly encouraged to delay all non-essential banking requests until normal banking functions resume. Customers are also asked to minimize the frequency of their branch visits where possible by availing of alternative banking channels such as mobile and online banking and utilizing emails and telephone to contact the bank where possible. Finally, while the scaled down operations are intended to safeguard the health and wellbeing of staff and customers in the midst of the COVID-19 outbreak, the Nation’s financial institutions are also working out the finer details of a moratorium on various installment payments and fees to protect the financial wellbeing of their clientele and to ease the financial burden many are expected to experience at this time. The Association advised that customers can expect an update on the details of these measures from their respective financial institutions. As organisations, communities and individuals around the world unite in a concerted effort to fight the spread of COVID-19, financial institutions are committed to playing an active role in supporting the economy and the citizens of Saint Lucia throughout this period of uncertainty and remain optimistic that we will overcome this difficult period together. – 1st National Bank St. Lucia Limited – Bank of Saint Lucia Limited – Capita Financial Services Inc. – CIBC FirstCaribbean International – Financial Investment And Consultancy Services Limited – First Citizens Investment Services Limited. – RBC Royal Bank – Republic Bank EC Limited – Sagicor Finance Inc. – St. Lucia Development Bank – St. Lucia Mortgage & Finance Company Limited

[thingsioncehelddear]

My MAcc Experience: A Guest Post by Ben Ma, MAcc

Ello, I am not Annie. She asked me to write a lil bit about my experience in MAcc. I am her not-imaginary boyfriend/supplier of stuffed animals. A lil intro about me, for those of you that don’t know, my name is Ben Ma, I recently completed both the MAcc program at UWaterloo and the CFE. I’m starting work as a Taxation Analyst at CIBC. Some of you may know me as:

Former VP Education of AFSA.

One of the Tax Mentors at UWAFSA’s Tax Clinic.

The Textbook Guy.

I have an unhealthy obsession about puns, mangoes and the Canadian Tax system (I kid you not).

I’m going to preface this post with a few notes:

I haven’t taken all the courses, and obviously my discussion isn’t necessarily representative of an MAcc discussion.

I’m a self-proclaimed tax geek, so almost all the courses I took were tax electives. Some I recommend for all people, tax or otherwise, some I don’t recommend at all.

I’m going to say a lot of bad puns. Deal with it.

I’m going to break this down into two sections – the courses, and the MAcc experience.

♛ MACC EXPERIENCE ♛

I am going to say this upfront: You don’t learn any new content in MAcc. What you learn in MAcc isn’t so much new information, but more so of a new way to approach a situation, and learn how to write cases, and present information in such a way that it would be useful to a user. You’ll have already learned everything you needed before in an undergrad course- now you need to … Master that knowledge.

There’s also no homework that you technically need to do. Same as undergrad, you could probably not do assignments/cases and just coast on by. But you are going to suffer a LOT if you don’t prepare for class. Because MAcc is just so case-based, not doing the cases takes out at least 50% of the learning. For the love of God, if you didn’t prepare for class before, now is the time to do it.

If you thought you did well in undergrad and none of this advice applies to you, get your head out of your ass. I went into MAcc with an 88% average, and I still managed to get a 28% on a final exam. Now’s the time to start preparing for class, reviewing, and for the love of God, start showing your work. In MAcc your final answer doesn’t really matter that much unlike in undergrad. I struggled in the beginning because I would just go straight to the answer. But now what’s important is your process. You could be completely off base with your final answer, but if you showed your work 90% of the way, you can probably get 90% of the answers.

♛ COURSES ♛

Considering how the MAcc program is really just a substitute for a PEP program, and is really just a super prep course for the CFE, I think it would be reasonable to talk about how well the course prepares you for the CFE, and how interesting/useful it is.

MANDATORY COURSES

ACC 611: Financial Reporting

One of your mandatory courses for the first term. Ya know all those X91 courses in AFM? Here’s a situation and now let’s do parts A B C of the question? Yeah, I don’t think you can count on those courses anymore.

ACC 611 is really one of your big exposures to CFE style cases, and it’s a huge change from the way undergrad wanted you to present information. Now the focus isn’t so much on the solution, but on the process that you used to approach the situation. This course also put a much bigger focus on actually knowing the accounting standards. I really struggled in this course (this is the one I bombed the exam on) because I didn’t have a structure, and I essentially guessed my way around the exam.  Thankfully I ended up fixing this before the CFE. A big part of how to improve and prepare in this course is just a LOT of practice. After a while, you start becoming more familiar with the standards, and how to approach the problem. A big thing that helped me fix up my approach was starting to use a case writing structure.

Outline the issue

Discuss the standard if applicable

Apply case facts to the standard

Recommend corrections if necessary.

ACC 680: Managerial Accounting

Remember AFM 211? Welcome back to it. This course is essentially a more difficult version of AFM 211. You’ll become very familiar with how to structure a DCF in this course. Thankfully that’s really the only thing that’ll happen in this course, a few variations on how to do a DCF, it’s really quite … manageable. I usually found this course to be a lot more straightforward than the other courses, what they usually want is the same: one quantitative analysis and a qualitative analysis, and provide a recommendation based on that. A lot of how to prepare for this class is really do a lot of practice cases until DCFs are ingrained in your mind.

CPA ELECTIVE COURSES

The CPA elective courses are supposed to represent the four elective roles that you can take in the CFE: Audit, Tax, Finance and Performance Management. Each course will teach you how to achieve depth in that particular area. I only took Tax and Finance myself.

ACC 607: Tax

This course is essentially AFM 462 intensified. You’ll do a case every single week, and they’re not going to be easy, it’s quite…taxing and you may or may not have to remember obscure tax facts. Here’s the thing about tax though, you’re never expected to have a perfect answer. In addition, any case in ACC 607 will be twice as hard as any case in the CFE. I honestly believe that the ACC 607 course overprepares you for the CFE, to the extent that you’ll be very comfortable doing the tax role if you decide to do it.

For this class, again, you should at least attempt the practice problems. In this case you’re always going to miss something though. I think it’d be more helpful to do these cases in a group setting, and make sure you take very detailed notes in class, this is the one class where notes in class are very important. I find tax to inherently be very reliant on technical aspects, more so than the other electives – note taking is imperative as a result.

ACC 690: Finance

This is one course I don’t recommend. Yes, it does provide you the information you need for the CFE, but I honestly feel like the course is just a rehash from some undergrad courses. Some of the slides are the same as 3rd year AFM 373... typos included. It’s also the only one of the elective courses that doesn’t test you on a case based exam. It’s not hard to prepare for this course either, you can’t really exceed or do poorly in it. All in all, compared to the other CPA Elective courses, it’s not as well designed or structured in my opinion.

If I had to recommend 2 courses that you should take, I would recommend Audit and Tax. Lame standard choices I know. But I think that the things you learn in these courses are harder to pick up on your own, whereas the things you learn in the other courses can be learned through practice or common sense. Needless to say, you should also choose electives that match the role you’re planning on taking for the CFE.

MACC ELECTIVE COURSES

ACC 605: International Tax

If you are not a fan of tax, this is not the course for you. This is a very tax research-heavy course that will discuss the implications of taxes in multiple jurisdictions and how the Canadian Tax system accounts for it. Though this is a great way to understand how tax works, I have to admit, this will not be useful for the CFE. At all. It’s unlikely you’re going to use this in work either, as it’s a very complex topic and requires a lot of expertise and research, unless you’re going into some international tax advisory role. Definitely not a course to take if you want a bird course. But if you have a passion for tax, I highly recommend this course. It’s hard, but satisfying when you understand it.

ACC 662: Tax Policy

I didn’t take this course, but I’ve talked to a lot of classmates about it. You know how I said International Tax was tax research-heavy? This one is even heavier. This is a course that teaches you why and how policymakers develop taxes, and you’ll write some essays on particular topics. Again, not an easy course, and not for those who don’t like tax. But if you’re considering a PhD in the future, or a future in academia, or even tax policy, this is highly recommended, as this will literally walk you through what you need to do when researching tax.

ACC 690: Tax for the CFO

I cannot recommend this course enough, especially if you’re entering a tax role in industry. This course teaches you how companies actually prepare tax provisions and it’ll give you a very good understanding of IAS 12 (Taxes), combining accounting and taxes in a comprehensive way. It’s useful for the CFE, as it’ll teach you IAS 12 very thoroughly, and adjustments to reach taxable income if tax is your weak point. I’m currently in a taxation role at CIBC, and what I did in this course is going to be directly transferable to my role.

ACC 606: Business Valuations

I also highly recommend this course. One of the major parts that you can be tested on in Finance is valuations. This course teaches you how to approach a valuation, and is incredibly useful for the CFE if you are weak in Finance. If you’re a Finance person, this course also moves you directly to the second exam for the CBV designation if you’re interested.

♛

Well, that’s pretty much my overview of what I thought about courses and how to prepare for them. If you have any other questions, feel free to reach out to me. I can be reached by Facebook, Twitter, summoning through the Dark Arts, or smoke signals.

[showbizchicago]

Broadway In Chicago Announce OSLO $25 Digital Lottery Tix

Broadway In Chicago is thrilled to announce there will be a digital lottery for OSLO, which will play for a limited six-week engagement at Broadway In Chicago’s Broadway Playhouse (175 E. Chestnut) from September 10 through October 20, 2019. The Tony Award ® Best Play Winner OSLO will make its Chicago Premiere with TimeLine Theatre’s production at Broadway In Chicago’s Broadway Playhouse. The digital lottery will begin September 9 at 9AM, and 12 tickets will be sold for every performance at $25 each. The lottery will happen online only the day before each performance. Seat locations vary per performance. HOW TO ENTER THE DIGITAL LOTTERY Visit https://www.broadwayinchicago.com/show/oslo/   Follow the link “Click here for details and to enter the lottery” Click the “Enter Now” button for the performance you want to attend. Fill out the entry form including the number of tickets you would like (1 or 2). Patrons will receive a confirmation email once they have validated their email (one time only) and successfully entered the lottery. After the lottery closes, patrons will be notified via email within minutes as to whether they have won or not. Winners have 60 minutes from the time the lottery closes to pay online with a credit card. After payment has been received, patrons can pick up tickets at the Broadway Playhouse (175 E. Chestnut) no sooner than 30 minutes before show time with a valid photo ID. DIGITAL LOTTERY ADDITIONAL RULES Limit 1 entry per person, per performance. Multiple entries will not be accepted. Patrons must be 18 years old and have a valid, non-expired photo ID that matches the names used to enter. Tickets are non-transferable. All lottery prices include a $3.50 facility fee. Ticket limits and prices displayed are at the sole discretion of the show and are subject to change without notice. Lottery prices are not valid on prior purchases. Lottery ticket offer cannot be combined with any other offers or promotions. All sales final - no refunds or exchanges.  Lottery may be revoked or modified at any time without notice. No purchase necessary to enter or win.  A purchase will not improve your chances of winning. ABOUT OSLO TimeLine Theatre Company’s production of OSLO is the Chicago premiere. It premiered in fall 2016 in a sold-out run at New York’s Lincoln Center and opened on Broadway in April 2017. It then played at London’s Royal National Theatre in September 2017 before transferring to the West End in October 2017. OSLO received the 2017 Tony Award for Best Play, as well as New York Critics, Outer Critics, Drama Desk, Drama League, Lucille Lortel, and Obie awards—a sweep of the 2016-17 New York awards season—and was nominated for the Olivier and Evening Standard awards.  OSLO is a remarkable story about the unlikely friendships, quiet heroics, and sheer determination that pushed two foes to reach something neither thought truly possible—peace. When the Israeli prime minister and the chairman of the Palestine Liberation Organization shook hands on the White House lawn in 1993, the world had no idea what it took to orchestrate that momentous occasion. Behind the scenes, a Norwegian diplomat and her social scientist husband hatched an intricate, top secret, and sometimes comical scheme to gather an unexpected assortment of players at an idyllic estate just outside Oslo. Far from any international glare, mortal enemies were able to face each other not as adversaries, but as fellow human beings.  J.T. Rogers’ OSLO is a humorous, surprising, and inspiring true story about the people inside politics, and the incredible progress that is possible when we focus on what makes us human—together.            The cast will star Scott Parkinson as Terje Larsen and Bri Sudia as Mona Juul, with TimeLine Company Member Anish Jethmalani as Ahmed Qurie and Jed Feder as Uri Savir, and Bernard Balbot, Ron E. Rains, Amro Salama, Stef Tovar, Bassam Abdlefattah, Tom Hickey, Victor Holstein, and TimeLine Company Members Juliet Hart and David Parkes. The creative team includes J.T. Rogers (Playwright), Nick Bowling (Director), Jeffrey D. Kmiec (Scenic Designer), Jesse Klug (Lighting Designer), Christine Pascual (Costume Designer), Katie Cordts (Wig and Hair Designer), André Pluess (Sound Designer), Mike Tutaj (Projections Designer), Amy Peter (Properties Designer), Eva Breneman (Dialect Designer), Deborah Blumenthal (Co-Dramaturg), Maren Robinson (Co-Dramaturg), Jonathan Nook (Stage Manager) and Mary Zanger (Assistant Stage Manager). For more information, please visit TimeLineTheatre.com/events/oslo/ TICKET INFORMATION Individual tickets for OLSO are currently on-sale to the public and range in price from $35 - $90 with a select number of premium seats available. Individual tickets are available by calling the Broadway In Chicago Ticketline at (800) 775-2000 or by visiting BroadwayInChicago.com. Tickets are available now for groups 10 or more by calling Broadway In Chicago Group Sales at (312) 977-1710 or emailing GroupSales@BroadwayInChicago.com. For more information,visit BroadwayInChicago.com or timelinetheatre.com. ABOUT TIMELINE THEATRE COMPANY TimeLine Theatre Company, recipient of the prestigious 2016 MacArthur Award for Creative and Effective Institutions, was founded in April 1997 with a mission to present stories inspired by history that connect with today's social and political issues. Launching its 23rd season with Oslo, to date TimeLine has presented 79 productions, including 10 world premieres and 35 Chicago premieres, and launched the Living History Education Program, now in its 12th year of bringing the company's mission to life for students in Chicago Public Schools. Recipient of the Alford-Axelson Award for Nonprofit Managerial Excellence and the Richard Goodman Strategic Planning Award from the Association for Strategic Planning, TimeLine has received 54 Jeff Awards, including an award for Outstanding Production 11 times. TimeLine is led by Artistic Director PJ Powers, Managing Director Elizabeth K. Auman and Board President Eileen LaCario. Company Members are Tyla Abercrumbie, Will Allan, Nick Bowling, Janet Ulrich Brooks, Wardell Julius Clark, Behzad Dabu, Charles Andrew Gardner, Lara Goetsch, Juliet Hart, Anish Jethmalani, Mildred Marie Langford, Mechelle Moe, David Parkes, Ron OJ Parson, PJ Powers, Maren Robinson and Benjamin Thiem. Major corporate, government and foundation supporters of TimeLine Theatre include Paul M. Angell Family Foundation, The Crown Family, Forum Fund, The Joseph and Bessie Feinberg Foundation, Illinois Arts Council Agency, Laughing Acres Family Foundation, A.L. and Jennie L. Luria Foundation, MacArthur Fund for Arts and Culture at Prince, the National Endowment for the Arts, The Pauls Foundation, Polk Bros. Foundation, and The Shubert Foundation. For more information, visit timelinetheatre.com or Facebook, Twitter, or Instagram (@TimeLineTheatre). ABOUT BROADWAY IN CHICAGO Broadway In Chicago was created in July 2000 and over the past 19 years has grown to be one of the largest commercial touring homes in the country.  A Nederlander Presentation, Broadway In Chicago lights up the Chicago Theater District entertaining more than 1.7 million people annually in five theatres. Broadway In Chicago presents a full range of entertainment, including musicals and plays, on the stages of five of the finest theatres in Chicago’s Loop including the Cadillac Palace Theatre, CIBC Theatre, James M. Nederlander Theatre, and just off the Magnificent Mile, the Broadway Playhouse at Water Tower Place and presenting Broadway shows at the Auditorium Theatre. Broadway In Chicago proudly celebrates 2019 as the Year of Chicago Theatre. For more information, visit BroadwayInChicago.com. Facebook @BroadwayInChicago ● Twitter @broadwaychicago ● Instagram @broadwayinchicago ● #broadwayinchicago Read the full article

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New Post has been published on https://toldnews.com/business/quadriga-the-cryptocurrency-exchange-that-lost-135m/

Quadriga: The cryptocurrency exchange that lost $135m

Image copyright Facebook/Quadriga

Image caption Gerald Cotten

When the 30-year-old founder of a Canadian cryptocurrency exchange died suddenly, he took the whereabouts of some C$180m ($135m; £105m) in cryptocurrency to his grave. Now, tens of thousands of Quadriga CX users are wondering if they will ever see their funds again.

In 2014, one of the world’s biggest online cryptocurrency exchanges – MtGox – unexpectedly shut down after losing 850,000 Bitcoins valued at the time at nearly $0.4bn (£0.3bn).

Its meltdown shook investors in the volatile emerging marketplace – but the calamity at the Tokyo-based company proved a boon for a new Canadian online cryptocurrency exchange.

“People like the fact we’re located in Canada and know where their money is going,” Quadriga CX founder Gerald Cotten said at the time.

Some five years later, Cotten’s sudden, untimely death has left thousands of his customers scrambling for information about their own missing funds.

“We don’t know whether or not we’re going to get our money back,” Tong Zou, who says he is owed C$560,000 – his life savings – told the BBC.

“There’s just a lot of uncertainty.”

This month, Quadriga – which had grown to become Canada’s largest cryptocurrency exchange – was granted temporary bankruptcy protection in a Canadian court.

The firm said it had spent the weeks since Cotten’s death trying desperately to “locate and secure our very significant cryptocurrency reserves”.

Image copyright Reuters

Image caption Broken representations of the Bitcoin virtual currency

In court documents, Quadriga says it owes up to 115,000 users an estimated C$250m – about C$70m in hard currency and between C$180m an C$190m in cryptocurrency, based on recent market rates.

It believes – though it’s not certain – that the bulk of those millions in reserves was locked away by Cotten in cold storage, which is an offline safeguard against hacking and theft.

For now, all trading has been suspended on the platform.

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Bernie Doyle, CEO of Refine Labs and head of the Toronto chapter of the Government Blockchain Association, calls what’s happening at Quadriga a “seismic event” in the industry.

The world of digital currency has little regulatory oversight and a history of volatile prices, hacking threats, and minimal consumer protection.

Mr Doyle says this only adds to the nascent sector’s already “checkered history���.

But he says “it’s really unfortunate that the ecosystem takes a hit” amid one firm’s problems.

Image copyright Reuters

Image caption The theft involved the lesser-known IOTA cryptocurrency

What happened at Quadriga?

Court documents filed in late January offer some insight into the company.

Quadriga had no offices, no employees and no bank accounts. It was essentially a one-man band run entirely by Cotten wherever he – and his laptop – happened to be, which was usually his home in Fall River, Nova Scotia.

It used some third-party contractors to handle some of the additional work, including payment processing.

His widow, Jennifer Robertson, says she was not involved in the company until her husband died suddenly on 9 December in India from complications related to Crohn’s disease.

In an affidavit, she says she has searched the couple’s home and other properties for business records related to Quadriga, to no avail. The laptop on which he conducted all the business is encrypted and she doesn’t have the password or recovery key.

An investigator hired to assist in recovering any records had little success.

It was also recently revealed the company somehow inadvertently transferred Bitcoins valued at almost half-a-million dollars into cold storage in early February and now can’t access them.

But Quadriga’s troubles didn’t start with missing coins. The company’s liquidity problems began months earlier.

In January 2018, Canadian bank CIBC froze five accounts containing about C$26m linked to Quadriga’s payment processor in a dispute over the real owners of the funds, an issue that ended up in court.

Image copyright Supreme Court of Nova Scotia

Image caption A photo of bank drafts submitted in Quadriga court documents

The company says it also has millions in bank drafts it has been unable to deposit because banks have been unwilling to accept them.

Ms Robertson’s affidavit to the court included photos showing stacks of bank drafts placed on a kitchen stove.

Those banking disputes contributed to a “severe liquidity crunch” at the company, with frustrated users facing delays and difficulties trying to access funds.

Who was Gerald Cotten?

In photos and interviews, Cotten comes across as a clean-cut business school graduate who tended to favour the casual shirts and jeans uniform of a tech entrepreneur.

In a statement, Quadriga called him a “visionary leader” who was in India for the opening an orphanage for children in need when he died.

His friend Alex Salkeld described Cotten as a helpful, easy-going young man keen to contribute to the community of cryptocurrency enthusiasts.

“I don’t think you’ll find anyone willing to say anything bad about him,” he told the BBC.

Mr Salkeld said once a week Vancouver Bitcoin Co-Op members would all head over to the Quadriga’s then-offices “and just talk Bitcoin”.

Like others at the time, he said Cotten saw Bitcoin as a technology with the potential to change the world – a virtual currency free of governments and the banking system.

Mr Salkeld said that since Cotten died, those who knew him have been going back-and-forth over how he could possibly have failed to have a contingency plan in place.

Image copyright Courtesy Alex Salkeld

Image caption Gerald Cotten in 2014 showing Alex Salkeld’s daughters how to use a Bitcoin automatic teller

But amid rampant talk online about possible fraud related to the missing coins, Mr Salkeld said that, to him, “it’s looking like a tragic series of unfortunate events strung together in a really unlucky way”.

Cotten’s last will and testament also gives some hints as to his life and assets.

The document, signed shortly before his ill-fated trip to India, shows he appointed Ms Robertson as executor of the estate and left her the bulk of his property.

It offers some detail into those assets: a Lexus, an airplane – he was an amateur pilot – a sailboat, and real estate in the Canadian provinces of Nova Scotia and British Columbia.

He even planned for the care of his two chihuahuas, Nitro and Gully.

The case against Quadriga

There are many who are suspicious of Quadriga’s story and who doubt claims that Cotten had the only key to reserves valued in the tens of millions of dollars.

Online sleuths and industry experts have analysed the public transaction history of Quadriga wallets – which are used to store, send, and receive cryptocurrency – and have raised the possibility that the cold storage reserves might not exist at all.

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That has led to concern there is more at play than poor business practices and internal company chaos in the wake of Cotten’s death.

Others have wondered whether Cotten faked his own death and that this is all part of an “exit scam” to abscond with the funds.

Amid those rumours, Ms Robertson’s affidavit included a copy of statement of death from a funeral home in Halifax, Nova Scotia.

The hospital in Jaipur where Cotten was treated also released a statement detailing the medical interventions he received prior to his death.

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His widow says she has received death threats and “slanderous comments” online since Quadriga publicly announced its troubles.

An independent third party monitor has also been appointed to oversee the court proceedings, and is currently in possession of Cotten’s laptop and other devices.

What happens next?

In an online message to its users, Quadriga said it filed for creditor protection to give it time to ensure the future viability of the company.

It also admitted it is in “the early stages of a long process and [does] not have all the answers right now”.

According to court filings, Quadriga is also investigating whether some of the cryptocurrency could be secured on other exchanges and it said it’s considering selling the platform to cover its debts.

A number of affected users, including Tong Zou, have retained lawyers and are seeking representation in the proceedings.

Meanwhile, Canada’s main securities regulator, the Ontario Securities Commission, has confirmed it looking into Quadriga “given the potential harm to Ontario investors”.