Ontario man warns people to check bank statements after error nearly costs him $10K
An Ontario man who lost more than $10,000 after a cheque he wrote was cashed twice said he was pushed to the end of his rope trying to fight TD Bank to get the money back.
David Heathfield, who owns a small waste equipment brokerage, said he wrote a cheque for US$8,000 back in January to purchase some new equipment from a dealer in Florida.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
Typically, Heathfield said he waits until the end of the quarter to reconcile his books and make sure there are no banking issues.
He said in late March, at the end of the first quarter, he checked his bank statements and saw no discrepancies.
“I reconciled and everything balanced, because the US$8,000 was there,” Heathfield told CTV News Toronto in an interview.
But at the end of the second quarter in July, Heathfield said he noticed the same US$8,000 cheque, according to his April statement, had been cashed again, leaving him out more than CAD$10,000.
Heathfield said he immediately called TD Bank to try and get his money back, but because of a 30-day deadline to report discrepancies he was told he would be on the hook for the loss.
According to the bottom of Heathfield’s bank statements, which have been viewed by CTV News Toronto, customers are asked to ensure they report in writing any errors or irregularities within 30 days of the document’s issue date.
“If you do not, the statement of account shall be conclusively deemed correct except for any amount credited to the account in error,” the bank statement read.
Heathfield admits he had seen that fine print in the past, but never really paid it too much attention.
He said as months went on, he didn’t give up fighting for his money back.
“I’m at the end of my rope,” he said.
After speaking with Heathfield, CTV News Toronto contacted TD Bank to comment on the situation.
In a statement issued Thursday evening, and following an investigation into the incident, a TD Bank spokesperson said it was working directly with Heathfield to find a resolution.
“We strongly encourage all customers to regularly and carefully review their monthly account statements and immediately report any discrepancies by calling our EasyLine team or visiting their local branch,” the statement read.
That same day, Heathfield said that “out of the blue” he got a call from TD Bank’s head office.
“They have been asked to review my case and are allowing this one-time exception for an error and will be crediting my account the full US$8,000,” he said.
Although Heathfield said he still doesn’t know who cashed the cheque a second time, he said he wanted to share his story to help prevent the same thing happening to someone else.
“I think people need to be aware that, even at the bottom of the statement, any errors or omissions need to be reported within in 30 days. It was always there. I've just never looked at it, but it’s a killer.”
CTVNews.ca Top Stories
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
BREAKING Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.
All Alberta wildfires to date in 2024 believed to be human-caused: province
There are 63 wildfires burning in Alberta's forest protection area as of Wednesday morning and seven mutual aid fires, including one in the Municipal District of Peace.