Do I need to open any GSC account or deposit money like that for studying abroad in Ireland/Canada?
19 Jun 2026 · Answered by Kavya M P · 1 min read
Canada requires you to open a Guaranteed Investment Certificate (GIC) account and deposit a set amount (currently CAD 20,635 for 2025) if you apply under the Student Direct Stream (SDS). This acts as proof of funds for your first year and is released to you in installments for living expenses.
Ireland does not require a similar deposit or account. However, opening a local bank account is strongly recommended for managing daily expenses and receiving funds.
If you have questions about opening a GIC or a bank account, your LeapScholar counsellor can guide you through the process.
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