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And the out of country is about 10% of the total with the rest being in Canada .... but don't let that interfere with your thinking. :)


If it's been a bank employee, the bank didn't admit to it for those who have been re-reimbursed without a lawyer being involved.

For better or worse, that's been the case for those I know. I must be lucky to not know the many others you are talking about who have to involve lawyers.


Cheers
... let me put it this way, in my case the bank didn't admit to anything (that their employee stole my money) and still didn't UNTIL after you got a lawyer to straighten them up (proved that it wasn't your faulty memory or worst their accusation it was your family) who withdrew your money.

Of course, the lawyer is at your own expense and after the bank did decide to investigate and proved it was "internal thievery" (aka funds lifted by one of their employee), was your legal fees paid? Nope ... nada ... you won't even get an apology as decent as they are.
 

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The fact that the money had originated in China and was spread in odd amounts across four different banks kind of makes me wonder.

her father had sold his sole property in China. He'd sent that life savings to Zheng
I don't understand how that would have put money in TD, RBC, BMO and Bank of China.
 

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Perhaps they were thinking of CDIC coverage?
But would that be likely, if the money was to be held for a short time pending a condo purchase? As I and others have suggested, there's a lot of untold story here. What we have been given smells like a lost barrel of herring.
 

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I don't see anything telling us when the father's money arrived and we don't know how long the "closing" period was.
I wouldn't have described it as being in the closing period but my friend was talking about his six week away date as if it was in day or two. :oops:

Or the writer/editor may have dropped of the details to make it sound closer than it was.

Not enough info for sure.


Cheers
 

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Perhaps there should be a rule that Canadian financial institutions bar women from engaging in international money transactions, or even domestic ones, for amounts of, say, over $5,000. All for their own good (and to protect the institutions from being blamed).

We could become like the Philippines and treat our women as children. In that country, young (usually, but no age limit) women can be "offloaded" at the airport and barred from leaving the country if some immigration officer decides she might be a victim of human trafficking or is simply too wet behind the ears to travel. She immediately forfeits her airfare and and prepaid travel expenses. No appeal, no compensation, just how it is.
 

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... let me put it this way, in my case the bank didn't admit to anything (that their employee stole my money) and still didn't UNTIL after you got a lawyer to straighten them up (proved that it wasn't your faulty memory or worst their accusation it was your family) who withdrew your money.

Of course, the lawyer is at your own expense and after the bank did decide to investigate and proved it was "internal thievery" (aka funds lifted by one of their employee), was your legal fees paid? Nope ... nada ... you won't even get an apology as decent as they are.
... let me put it this way, in my case the bank didn't admit to anything (that their employee stole my money) and still didn't UNTIL after you got a lawyer to straighten them up (proved that it wasn't your faulty memory or worst their accusation it was your family) who withdrew your money.

Of course, the lawyer is at your own expense and after the bank did decide to investigate and proved it was "internal thievery" (aka funds lifted by one of their employee), was your legal fees paid? Nope ... nada ... you won't even get an apology as decent as they are.
Related as about bank competence:
Long story short.
I have/had two disabled sons. One died. Both had RDSPs at TD.
I asked TD to transfer RDSP funds from the one who died into his surviving brother's RDSP.
It took over 2 months.
In the process TD decided I was dead and closed my accounts.
Also because of the delay in transferring funds the surviving son did not get the matching government grants.
Insult to injury TD still can't right their wrongs.
 

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Perhaps there should be a rule that Canadian financial institutions bar women from engaging in international money transactions, or even domestic ones, for amounts of, say, over $5,000. All for their own good (and to protect the institutions from being blamed).

We could become like the Philippines and treat our women as children. In that country, young (usually, but no age limit) women can be "offloaded" at the airport and barred from leaving the country if some immigration officer decides she might be a victim of human trafficking or is simply too wet behind the ears to travel. She immediately forfeits her airfare and and prepaid travel expenses. No appeal, no compensation, just how it is.
Interesting example.

Having personal freedom (and responsibility) is an interesting, double-edged sword. You sure get to enjoy a lot of freedom, but you can also screw things up really badly.

There was something nice about the old days with company DB pensions, when someone else actually managed the assets and you would eventually be paid out, no matter how badly you screwed up your own life. That provided some safety.

It makes me wonder how someone might protect them from themselves. I looked into whether one can add extra money into CPP to boost the future pension payout, but that's not an option. Buying an annuity could be one method, because then you have something like a DB pension.
 

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Related as about bank competence:
Long story short.
I have/had two disabled sons. One died. Both had RDSPs at TD.
I asked TD to transfer RDSP funds from the one who died into his surviving brother's RDSP.
It took over 2 months.
In the process TD decided I was dead and closed my accounts.
Also because of the delay in transferring funds the surviving son did not get the matching government grants.
Insult to injury TD still can't right their wrongs.
... am I surprised that no one responded or that members (not just one) on this "DIY" forum who are are or was working from the bank(s) would remain silent on this screwup? Nope.

Sorry Calgary Bruce, the status quo will remain ... as sad as it ... the banks will stick to their selling motto: "We're Here to Help You to Help Us". Or in actuality "We're Here to Help You, a PITA Customer".
 

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Interesting example.

Having personal freedom (and responsibility) is an interesting, double-edged sword. You sure get to enjoy a lot of freedom, but you can also screw things up really badly.
... bottomline: make your own bed and lie in it.

There was something nice about the old days with company DB pensions, when someone else actually managed the assets and you would eventually be paid out, no matter how badly you screwed up your own life. That provided some safety.
.. don't be surprised the opposite happens also. Ie. the company screwed up and it's coming out of your own pocket, only because you don't own the pension plan and there's no obligation to tell you anything.

It makes me wonder how someone might protect them from themselves. I looked into whether one can add extra money into CPP to boost the future pension payout, but that's not an option. Buying an annuity could be one method, because then you have something like a DB pension.
... I wouldn't worry about it in your case considering how knowledgeable you are (financially and technically). Just don't start a hobby of chasing those real-life crime scenes (re your other thread).
 

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Perhaps there should be a rule that Canadian financial institutions bar women from engaging in international money transactions, or even domestic ones, for amounts of, say, over $5,000. All for their own good (and to protect the institutions from being blamed).

We could become like the Philippines and treat our women as children
. In that country, young (usually, but no age limit) women can be "offloaded" at the airport and barred from leaving the country if some immigration officer decides she might be a victim of human trafficking or is simply too wet behind the ears to travel. She immediately forfeits her airfare and and prepaid travel expenses. No appeal, no compensation, just how it is.
... I don't think some of our older forum members (residing in Canada) would like this suggestion considering that they're trying their darnest to empower their SOs to take over the financial reins of that "joint investment" account.
 
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