Scotiabank Student GIC Program Online Application

Definition of Terms

In this application form “Application”, “customer”, “you” and “your” mean the Study Permit/Visa applicant; “we”, “our”, “us” and “Scotiabank” mean The Bank of Nova Scotia; and “GIC” means the Scotia Guaranteed Income Certificate described under “Information About your GIC” above.

By clicking “I consent” below:

• You are applying to open a Scotia Investment Account upon the terms set out in this Application.
• You are applying to purchase the GIC, opened only upon your arrival in Canada.
• You agree that the Scheduled Payments you receive from the GIC will be used to cover living expenses for your first year in Canada.
• You confirm that the information you have provided is true and complete.
• You acknowledge that we cannot guarantee the security of regular (unsecure) emails you send to us even if you do register for Scotiabank Secure Email Service. You acknowledge that regular (unsecure) email
  1. may not be secure, private and confidential,
  2. may not be reliable and may not be received by the intended recipient promptly or at all, and
  3. may be subject to interception, loss and alteration.

You assume full responsibility for risks associated with regular (unsecure) email communication and agree that we will not be responsible or liable for any loss or damage arising from any use of such email, including but not limited to any loss or damage arising from the risks referred to in the preceding sentence.

You acknowledge that it is your responsibility to register with us for free Scotiabank Secure Email Service. This will ensure that you will be able to receive and respond to correspondence from us via secure email.

You authorize us to receive and act upon secure and unsecure email instructions ("Instructions") from you concerning Scotiabank Student GIC Program. We agree to carry out email instructions in accordance with our normal procedures although we can refuse to undertake any Instructions if we deem it appropriate for any reason to do so and we will have no liability to you on account of such refusal. We will take reasonable steps to inform you when we have determined that we will not be following your Instructions. We may ask you to give us certain information which will assist us in determining that you are the party giving the Instructions. We will not be liable to you if we are unable to complete your Instructions for reasons beyond our control.

• You agree to check the interest rate of the Investment Account on the day that you send your wire payment. The Interest Rate is Scotiabank's posted rate under "Investment Cash".
  Rates are provided for information purposes only and are subject to change at any time.
• You authorize Scotiabank to send you Investment Directions for the Scotia Investment Account to the personal email address you have provided in this application form following the processing of your Wire Payment.
• You acknowledge that purchasing the GIC upon your arrival in Canada is necessary for your continued eligibility to participate in the Scotiabank Student GIC Program.
• You authorize Scotiabank to send your name, date of birth, and passport number to the Canadian Visa Authorities in your country, following the successful cash deposit into your Scotia Investment Account. In the event a Refund is requested, the Canadian Visa Authorities will use this information as part of the Scotiabank Student GIC Program administration process.
• You acknowledge that if you request a refund of your wire (a minimum of $10,200 CAD), your request will cancel your enrollment into the Student GIC program and will close your Scotia Investment account. The cancellation request is subject to the following conditions:
  • If the refund request is made within 14 business days of the date your Scotia Investment Account was opened, you will be refunded $185 CAD of your $200 CAD Scotiabank administration fee in addition to the full amount of your funds transferred (principal plus any accumulated interest). $15 CAD of your $200 CAD Scotiabank fee will not be refunded as these are considered processing fees. Fees associated to the wire sent to your home country as well as any foreign currency exchange fees may also apply and will not be refunded by Scotiabank.
  • If the refund request is made after 14 business days of the date your Scotia Investment Account was opened, you will receive the principal plus any accumulated interest, however the $200 CAD Scotiabank administration fee will not be refunded. Fees associated to the wire sent to your home country as well as any foreign currency exchange fees may also apply and will not be refunded by Scotiabank.

• You confirm that you have reviewed the following documents online through www.scotiabank.com:
  
  1. Privacy Agreement and Brochure
  2. Investment Companion Booklet
  3. Student GIC Program Guide
• You consent to receiving the above documents in an electronic format at the links provided above and through this Application only and acknowledge that you have read and agree to the terms and conditions set out in those documents as they apply to you. You are responsible for printing or downloading a copy of these documents for your records.
• You acknowledge and agree that all documents relating to the application will be drawn up in English.
• You acknowledge that the GIC is not transferrable.
• You confirm that the Student GIC will not be used by a third party, and that you will not receive instructions from a third party with respect to the use of the Student GIC. (A third party is an individual or entity who is not an account holder but gives instructions or directs the activity on the account. This would not include a joint account holder or Power of Attorney)
• You acknowledge that the purpose of this account is for your education during your first year stay in Canada as required by the Student Direct Stream program.
• To speak to a representative, call us collect for free at: 416-288-4119
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