I issued a cheque drawn on the Minister of Finance dated July 3 in the amount of $2,820.00.
The cheque was improperly honored by TD Canada Trust on January 22 Stale Dated Nearly 7 Months Old even though I had issued a Stop Payment. Furthermore, TD Canada Trust went into my Overdraft in order to pay the payee and charged me interest and personal overdraft protection fees.
A note of interest - I did not request the Overdraft Protection.
I was extremely ill at the time and under several physicians care, and took action as soon as my health allowed. I spent many months communicating, both in person and in writing, and a lot of energy (from October to April) to try and have the matter resolved, to no avail.
I communicated with staff, starting from the Manager of Customer Services Mr. Flarity, to the highest level Mr. W. Edmund Clark, PhD, President and CEO, Head Office, who proceeded to refer my letter and related concerns to other staff who could not care less.
The excuses ranged from:
my Home Branch Manager - Ms. Feth - telling me that she is not willing to have her branch take the loss (her exact words)
to: any cheques can be negotiated by the intended payee even if antedated - per Mr. Winders, their District Vice-President, Etobicoke South District, Office of the Senior Vice-President, GTA Region.
Yet, TD Canada Trust Front Line Staff told me, time and again, and continues to tell me to this day, that Stale-Dated Cheques, i.E. Older than 6 Months, are no good and do not clear. This was proven yet again when - as a test I presented a stale-dated cheque to TD Canada Trusts Front Line Staff, and the teller refused to negotiate it, stating that the cheque is stale dated and no good.
So then, if TD Canada Trust can do as it pleases and apply and interpret rules as it sees fit, what is the point of putting a date on a cheque, what is the point in trusting the banks to protect our money? It is obvious that TD Canada Trust has duplicitous rules and procedures. It would seem that it all depends on who the payee is as to which rule they will apply and/or dream up. That is Discriminatory, Duplicitous and Unfair.
I continue to dispute TD Canada Trusts unfair actions, here - in the Media. I am seeking resolution of this matter. I am asking that TD Canada Trust reimburse my money - $2,820.00 - plus interest to date, together with compensation for punitive damages without any further delay.
TD Canada Trust has a fiduciary responsibility to protect its clients funds, and it is time that it stops acting under false pretenses by applying rules that benefit it wholly to the detriment of its clients.
I believe the Media must be apprised of the pervasive and systematic misinformation being imparted upon an unsuspecting public, and how customers, ill or not, are given no consideration by a banking system that hides behind the mass of fine print of banking rules and regulations. This deserves to be exposed for the hypocrisy that it is!
My Home Branch Manager - Ms. Feth - told me she is not willing to have her branch take the loss. Yet, both she and everyone I communicated with at TD Canada Trust had no problem with having me incur the loss even though it was their error in permitting a stale-dated cheque to clear my account!
TD Canada Trusts deferral to the rules that are set out by The Canadian Payment Association vs. What its front line staff continuously state and vigorously impose on customers are two different things. Thus, leaving room for TD Canada Trust to discriminate as it sees fit. TD Canada Trust has caused me a huge loss - financial and otherwise - while it imposes duplicitous and unfair rules. I want TD Canada Trust to return my funds at once, together with interest - as well as to compensate me for the time and energy their actions forced me to expend, and for the undue emotional and psychological stress TD Canada Trusts actions forced me to endure all of these years.
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