Posted on 12/14/2017 12:22:10 PM PST by Oshkalaboomboom
Brown left this Canadian family in the red.
The United Parcel Service lost a Canadian man’s $846,000 inheritance, and bank TD Canada Trust is refusing to refund the missing money 10 months later, according to a CBC report.
UPS has only offered $32 and an apology letter — and TD hasn’t paid out a dime for the supposedly bank-guaranteed lost dough — leading to “many a night of lost sleep, and gnashing of teeth and anger. Frustration, unbelievable frustration” for Lorette Taylor and her brother Louis Paul Herbert, according to Taylor.
After their father died, Herbert said, he went to his local UPS store near Cornwall, Ontario, where he was expecting a package from sister Taylor containing his share of their inheritance in the form of a bank draft, but it never came.
“I’m waiting at the UPS store, around 3 p.m. because that’s when they said the guys came in, nothing shows up,” Herbert told CBC News. “I came back in the evening. Nothing shows up … and I’m wondering, ‘What’s happened to my inheritance?'”
Taylor sent the money through UPS from her lawyer in Georgetown, Ont., about 270 miles away, so Herbert wouldn’t have to drive to pick up the hefty sum.
“I should have just driven,” Herbert said. “It’s something I kick myself in the rear over every day.”
Taylor obtained the bank draft — which is like a certified check, but the money is taken from a customer’s account immediately and held by the bank until the draft is cashed — in February, after TD told her it was the safest way to send the large sum.
(Excerpt) Read more at nypost.com ...
Right?
One imagines the point of a certified check is to preclude the possibility of stopping payment.
However, at least in America, assuming the check is made out to the recipient, rather than cash, the only way the customer could screw the bank is if the recipient cashed the replacement check, and then cashed the original check. If someone forges an endorsement on the check, and the bank doesn’t catch the forged endorsement, the bank is on the hook for that.
Anyone who ships a cash instrument via UPS is to stupid to have the money.
for 850k I’ll gladly drive 270 miles. something doesn’t add up here. you’re paying ups to deliver a check...you don’t insure the envelope...I’ve moved large amounts of money personally, and I don’t tell anybody, and carry.
The folks at the bank were idiots and gave their own client bad advice.
A wire transfer was a whole lot safer, and more direct. Once it is made the money is there, in the other account.
That advice would have been best even if the bamk’s internal dollar limits would have required more than one transfer, but TD says they do not have such dollar limits AND the charge is between $15 to $25 a transfer.
In other words the correct solution was not some paper delivery service - where’s the paper now????? - but a direct, bank account to bank account wire transfer that can be verified as complete in minutes.
TD did not lose it, but they did give bad advice.
Somehow TD & UPS should be able to “insure” loses to themselves should some party illegally cash the missing bank paper after TB bank returns the money they are holding.
Then the people should take the money out of TD bank, get an account in a different bank, and do the wire transfer to the party the money was suppose to go to.
And where are the public authorities that should be looking at this?
did they pay for insurance?
That’s mighty white of Brown.
That’s what I call making the most of it.
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