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
'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Ottawa pizzeria places among top 20 deep-dish pizzas in the world at international competition
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Canada Post cracks down on Nunavut loophole to get free Amazon Prime shipping
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
Wildfire near Fort McMurray more than triples overnight, several evacuation alerts remain in place
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Putin replaces Russian defence minister in rare cabinet shakeup
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Suspect sought after fatal slashing in downtown Toronto
Police are searching for a suspect in a homicide investigation after a man was slashed in downtown Toronto on Sunday.
WATCH Dashcam video shows terrifying near-miss on two-lane northern Ontario highway
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Edibles, armchairs and adapters: Here are the recalls for this week
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.