Can a bank refuse to cancel a bank draft?
February 20, 2013 4:45 PM Subscribe
My former bank refuses to give me a refund on an un-cashed bank draft.
posted by fiTs to Work & Money (5 answers total)
A few years ago I got taken by a con man and ended up owing the Canada Revenue Agency thousands of dollars. After attempting to work out a payment plan, asking for leniency and failing every single appeal, I had to declare bankruptcy. Years of building up good credit had gone to waste and it hurt.
Two debts were wiped out: the huge amount owing to the CRA and about $7000 in a line of credit with Royal Bank of Canada (RBC). The line of credit was in good standing.
That was almost two years ago. Last week, I received a letter from RBC saying that a bank draft I had sent to this person remains unredeemed and, that I could either contact this person or request a refund.
I asked for a refund but was told that they could not because he might show up one day and they would have to pay him and charge me. I don’t bank with them anymore and don’t have any assets to speak of. They also brought up the line of credit that was written off, stating that it had a part in their decision.
Can they do that? If not, then what are my options?