How a Nigerian Father Funded His Daughter's Canadian GIC Remotely And Got Her Study Permit Approved

Mr. James had a simple goal: get his daughter Hannah into a Canadian university and make sure she had everything she needed to succeed. He had heard about the GIC requirement from a friend whose son had studied in Canada, and he was determined not to let financial documentation be the reason Hannah's visa was delayed or rejected.

From his home in Accra, Ghana, Mr. James funded his daughter’s GIC entirely on her behalf, without either of them needing to be in Canada, without visiting a Canadian bank, and without a complicated process. Here is how it happened.

What Parents and Sponsors Need to Know About GIC Funding

Many parents and sponsors worry that the GIC must come from the student's personal funds. That is not true. Under our TD Bank GIC program, the GIC may be funded by the student OR by a third party; including parents, siblings, relatives, or friends.

What matters to IRCC is not where the money came from, it is that the student has a valid GIC certificate from a recognized Canadian financial institution showing that the minimum amount (CAD $22,895) has been deposited. Mr. James was free to fund his daughter’s GIC from his business account in Nigeria.

The James Family's GIC Journey

Starting the Application — Hannah's Job

The GIC application itself was completed by Hannah, since the account must be in the student's name. We guided her to fill out her application with her school Fanshawe College, completed the digital identity verification using her smartphone and passport, and submitted.

The whole application took about 20 minutes. Within 4 business days, her Hannah’s account information arrived by email — and Mr. James was ready.

The Wire Transfer — Father's Part

With the account details in hand, Mr. James initiated an international wire transfer of CAD $24,000, slightly above the minimum, into Hannah's TD Bank GIC account. He chose to add a buffer so that Chisom would have accessible funds when she arrived.

He noted the transaction charge applied and the prevailing exchange rate as at the time of the transfer.

The Certificate Arrives

Within 5 business days of the transfer clearing, TD Bank issued Hannah’s official GIC certificate and sent it to her email. Mr. James felt an overwhelming sense of relief when his daughter forwarded it to him. It was official, and exactly what IRCC needed to see.

Parent-Specific Questions: What the James Family Asked

Does the money have to come from the student's account?

No. The GIC can be funded by any third party; parents, siblings, relatives, or friends. The certificate is always issued in the student's name, regardless of who sends the funds.

What if I send too much? Will I lose the extra money?

Not at all. Any amount above CAD $22,895 remains in the student's account and is fully accessible to them upon arrival in Canada. It is a safe, practical way to give your child a financial head start in their new country.

Is my money protected if something goes wrong?

Yes. All GIC deposits processed through Periculum are held in your TD Bank GIC account. Your money is held to strict Canadian banking standards and will not disappear. It is your money, inside your account.

What if I want to send the money in multiple transfers?

Your GIC account supports single or multiple transfers, as long as the total reaches at least CAD $22,895 and is received within 90 calendar days of the account being opened. This flexibility is particularly helpful for families spreading out the financial burden.

The Bigger Picture: What This Means for Your Child's Study Permit

A strong GIC from a recognized Schedule I Canadian bank is one of the most powerful pieces of financial evidence in a student’s visa application. It tells the immigration officer: The funds are secure, and this applicant is financially prepared to live in Canada.

In Hannah's case, her study permit was approved in just within 9 weeks. Her visa officer's letter shared with her after her approval, specifically cited her financial documentation as thorough and compliant.

She arrived in Canada and her GIC funds were released in installments as planned. Mr. James still remembers the day she called to say she had just moved into her dorm. That phone call, he says, made every step of the GIC process worth it.

How Parents Can Support Their Child's GIC Application

As a parent or sponsor, here is your role in the process:

• Ensure your child starts the GIC application early, immediately after their admission has been confirmed.
• Have funds ready for the transfer as soon as your child receives their account information.
• Keep records of the wire transfer for potential visa documentation needs.
• Try to deposit a little more than the minimum, due to any transaction charges. Any extra funds remain in their account and help them settle in.
• Trust the process; Periculum and TD Bank have helped multiple families just like yours.

Give Your Child the Best Chance at Their Canadian Dream

The Canadian study permit process is competitive. Every detail of your child's application matters, and financial documentation is one of the areas visa officers look at most carefully. A properly funded, TD Bank-issued GIC through Periculum is one of the strongest signals you can send.

Begin your GIC application today with Periculum Connect.

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