Yes, your GIC amount will be refunded in case your GIC application or Canadian Study permit is rejected or you withdraw from your course for any reason whatsoever.

For the refund process, you must contact the GIC bank and request a refund of funds.

The balance amount will be refunded to you after the deduction of any applicable fees by the GIC bank and the sending bank in India (ExTravelMoney does not charge any fees for refund).

The Processing Fee (charged by GIC bank, usually CAD 200) and the Wire Transfer Charge (charged by sending bank when transferring GIC amount from India and charged by GIC bank when refunding this amount) are non-refundable.

Also, when refunding the amount in CAD, the receiving bank in India will be getting the amount after conversion to INR at the Outward Remittance Sell Rate (lower than Interbank rate) applicable for the day.

ExTravelMoney.com is not responsible for any fees or charges levied by the sending bank, correspondent bank/intermediary bank, and the GIC bank. ExTravelMoney.com does not take liability for any foreign currency exchange gain or loss resulting from processing, transferring, rejecting and returning of such funds.

The amount you finally get back after refund of your GIC funds may be different from the amount you deposited because of the above mentioned charges and foreign exchange conversion rate.

Your Canadian Study Permit could get rejected for any number of reasons. It is unfortunate but sometimes it happens.

Whatever the reason, in such a circumstance, you can request a refund of the funds in your GIC account.

All of you have to do is prove any one of the following;

1. Your Canadian Study Permit/Visa has been cancelled or rejected.


2. The Canadian University/College that you applied to is no longer inviting you to study there.


3. You are not a student anymore at the Canadian University/College because you have withdrawn your application.