• @Rocket@lemmy.ca
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      1 year ago

      It was a certified cheque. That means the bank has guaranteed that the cheque will clear no matter what. If it were invalidated, the cheque would not clear, violating the guarantee. Cancelling the cheque would call all future guarantees into question.

      Given that, the bank was quite willing to issue another cheque. However, they asked that the retiree indemnify the bank for the original cheque should it also get cashed in the future. In other words, if both cheques were cashed, seeing $600k paid out in total, the retiree would be required to pay back $300k of it. The retiree refused.

      • Max-P
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        71 year ago

        Why was that a certified cheque though? That’s literally like sending 300k in cash… by mail.

        I typically see those used like when buying a car off Kijiji or Facebook where you can’t really trust a random person’s check to go through or trust the seller to give you the car when the cheque goes through. Hand over a certified cheque, you’re safe to deposit it and hand over the keys.

        I don’t see how that kind of guarantee was needed to deposit an inheritance cheque. There’s plenty of legal ways to approach this if it bounces or whatever.

      • @Sethayy@sh.itjust.works
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        11 year ago

        If it was ever cashed they were on the hook, sure probably no one would be stupid enough to try and put their name on it - but the retiree reasonably didn’t want to imagine the risk given all the trauma

      • @Kungolicious@lemmy.world
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        31 year ago

        Most 401k’s will mail checks when people want to roll funds over. Sometimes to the receiving companies, sometimes directly to the client. They won’t even overnight it or put a tracking number on it either. Just snail mail hope it shows up some day.

        • Victor Villas
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          31 year ago

          Not the case:

          It was sent from his father’s estate by his brother, George Kavaratzis

  • AutoTL;DRB
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    61 year ago

    This is the best summary I could come up with:


    Louis Kavaratzis was in shock when he got a phone call from Canada Post Monday telling him that a piece of registered mail — which contained a certified cheque for $301,560 — turned up weeks after it had gone missing.

    It was sent from his father’s estate by his brother, George Kavaratzis, through registered mail on July 25 from Campbellford, Ont., to Ayer’s Cliff, Que.

    In an email to CBC News Tuesday, Canada Post confirmed the cheque was delivered to Louis late Monday afternoon but did not provide any further details on why it had gone missing.

    Thinking he was out more than $300,000 when the piece of registered mail seemingly vanished, Kavaratzis, 57, said the then-missing inheritance would ruin his retirement plans.

    His brother, George, says while he is happy to learn that the cheque had been located, he wondered why it wasn’t spotted in the initial searches of the facilities.

    George, who is the executor of his father’s estate, said he initially chose to send the cheque through registered mail because it provides confirmation Canada Post received the item and proof of delivery by requiring a signature by the recipient.


    The original article contains 540 words, the summary contains 180 words. Saved 67%. I’m a bot and I’m open source!