So my GIC was maturing, and I called (it was almost an hour long! That is absolutely not right!) to cash out because, well, having to call them is very inconvenient.

The agent on the phone was being very obtuse, and spoke in a very heavy accent, and convinced me that the GIC, when it mature, must be deposited into a RRSP account even when I asked if it can just go into my normal savings account. I am not sure if this is supposed to be the case, as I recall my GIC with other financial institution simply came to maturation without having to be put into an RRSP account.

Worse, the amount is pretty big, and I am not sure what's gonna happen to my RRSP contribution limit (I have not been putting that much money into RRSP because of some issues in life).

The initial amount for my GIC was 25000, and around 26000 when it came to maturation - so the capital gain was only $1000.

With it all dumped in RRSP, when I withdraw from the RRSP, will I be taxed for the whole amount, or just the capital gain? Is my RRSP contribution irrevocably damaged by 26000 input rather than 1000?

I know I am not being smart, but I had to do all of this under a heavy fever because of the GIC maturation window, and I still have a terrible headache. Thank you for your help...

Regardless, I don't think I want to stay with Simplii for anything other than simple banking. Their GIC's been an absolute nightmare compared with my other GIC with a financial advisor, even if the financial advisor takes a cut... I've read here on reddit that some people had to make several calls because they have staggered GICs...

UPDATE: I did opened a secondary bank account in CIBC on 28th which is now activated and have just asked my family to e transfer some money to that account. I've also got in touch with college which is now helping me find accommodation. Thank you so much everyone, People in Ottawa are really nice (someone even messaged me saying I can stay at their place for as long as I like) , I guess it's just the timing.

I'm an international student who landed on 27th and had a GIC Account with Simplii (they suck). I've been trying to reach them but they aren't delivering the card to my hotel. I've asked them if I can pick my card up from anywhere but no nothing yet. I came with a few dollar bills and have spent them on hotel accommodation. I've been trying to get accommodation (which is a pain in itself) but I just found out that even if I find one, I won't be able to lease it since I don't have my GIC Funds yet. By any chance does anyone have any idea about what I could do? Anyone using simplii and facing similar issues?