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 ...
Whoever gave UPS the ability to lose, or not to lose, that much money is the at fault.
Any shipping company for that matter.
Never heard of a wire transfer?
Morons.
The only thing preventing the Bank from putting a STOP payment on the Draft and issuing a New one is GREED!!!
Well, it’s not a total loss...
Hysterical....and quite true.
Have they never heard of a stop payment?? This story smells like BS to me.
Some people are kind of stupid that way.
I received a decent inheritance a few years ago. We gave some to the kids college funds and did a couple repairs on the house. Besides that, it’s all in retirement savings and growing bigger every day #MAGA
* Even if it was 540 miles round trip, I’d have gone to get it.
UP should pay this family for what their own employees lost.
Is there no way to cancel the value of an issued Bank Draft?
There should be. Bank Draft polices have probably been overlooked, as there are more modern ways to transfer funds now. The $32.00 refund is an insult.
I would be publicizing this event from the rooftops, were it me. People should be warned about the present policies of UP.
Canada hasn’t invented electronic banking yet...
TD Bank won’t refund the money unless he signs an agreement to pay back the bank if someone cashes the lost draft (claiming it does not expire like regular checks).
I had to rollover a retirement fund, and they required I do it through paper check. Ridiculous in this day.
I had a nice stock and savings plan at work. Instead of cashing anything in I left it accumulate until it was worth over a million dollars. Then the stock lost over 95% of its value. I didn't even get a decent dinner out of it. The bright side was that I ended up a lot better off than many of my coworkers who used theirs as collateral for loans. Many of them were ruined.
Of course they should be able to sue UPS for damages incurred as a result of the delay in getting the funds.
Agreed. Someone should be able to say “we never got the check, issue a new one”. And if someone tries to deposit the old one can now be prosecuted for theft and/or fraud.
We ran into that, too.
I worked at a bank. They can easily cut a new check.
Who would ship that much cash by ups??? Something odd there
What!? That's ridiculous. I opted to not move my account.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.