$108,000 bank draft goes missing in mail, now b.c. executor battles td bank for sister’s inheritance
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john tocher (back right) with his grandson and three children, including trevor tocher
tocher family handout
when john tocher died of blood cancer, his family expected grief and paperwork — not a financial limbo that would leave his daughter unable to get out of bed. months later, a six-figure bank draft meant to pass on his life savings to his daughter remains missing.
on dec. 8, trevor tocher, executor of his father’s estate, sent a toronto-dominion bank draft for $108,316.51 to his older sister in southwestern ontario, following a recommendation from a chilliwack branch teller. he sent it by canada post registered mail with tracking, but it never arrived.
what has followed, tocher said, has been a month-long battle with td bank.
he said canada post later informed him that the registered letter was lost, that efforts to locate it had ended and that it would refund only the mailing costs.
tocher said the delay has taken a serious toll on his sister, 65, who lives alone on an old age pension and works part-time to make ends meet. he said she has called in sick to work and spends days in bed because of the stress.
“receiving this money would allow her to live a much better life,” tocher said.
while tocher wants the bank to reissue the bank draft and cancel the last one sent, td bank says it is impossible to do so without the purchaser of the bank draft assuming liability for the full amount if the draft is later found and fraudulently cashed.
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“if the draft is lost before it’s delivered, the purchaser can replace the lost draft in some cases, subject to our procedures, upon signing an indemnity agreement,” mick ramos, spokesperson for td bank, said in a statement. “in most cases, a bank draft can’t be cancelled once it’s been delivered to the recipient.”
“we’re sorry to hear about this situation,” added ramos, saying that the bank is still reviewing the matter.
tocher said he was shocked to learn that bank drafts function much like cash and cannot be cancelled.
“with all this technology, being told there’s no way to note that a draft is lost or stolen seems far-fetched,” he said.
to release the funds to his sister, td bank asked tocher to essentially put $108,316.51 of his own money or assets aside — secured with gics or a lien on his home — in case the draft is later found and fraudulently cashed.
tocher said he regrets signing the indemnity agreement with the bank, as it has no end date, and liability for the funds could potentially extend to his heirs.
“i feel like i’ve been treated like a criminal who stole something, when all i did was what i was told,” tocher said. “it’s sickening.”
tocher’s case comes several years after td resolved a high-profile dispute in 2020 involving a lost $165,000 bank draft in ottawa. after media scrutiny, the bank returned the funds to an estate account, subject to a shorter, two-year liability agreement.
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“td has had previous experiences with lost bank drafts sent by registered mail and courier,” tocher said. “why would they still recommend sending drafts this way?”
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