When Cheques are Stolen

in Bank, Bank Fees

Last week Mrs. C8j and I found out that our son’s school had been a victim of theft (from their main office). The school is private, and we pay the fees with post dated cheques. All of the cheques (from all the students) along with a quantity of cash was stolen from the office. What happens when cheques are stolen?

The school informed us of the theft right away, and told us that we should cancel all the post dated cheques (a good security measure to take in all circumstances similar to this), and they supplied us with a Police Case number, to give to the bank. The school also said that if we were charged any fees for canceling the cheques, the school would reimburse us, however, they also told us that one parent had already checked that Scotiabank was waving any fees in this situation.

I trundled off to my local TD branch, to extricate more money from my daughter’s RESP (this time fairly quick, but I had to go to the branch to do it (and include a proof of enrollment)). While I was there the Rep I spoke to also took care of the cheque cancellations. She was not sure at the time how the fees might work out, so I left unsure of whether this was going to cost me money or not, but I found out on Sunday the importance of following up and watching account balances closely.

I looked at my account and saw the following:

9/11/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT FEE $         12.50 
9/12/2013STOP PAYMENT  $       120.50
9/12/2013STOP PAYMENT  $          4.50
 Totals $       137.50 $       125.00
 Total fee paid $         12.50 

As you can see there are 11 stop payment charges, however there was only 10 cheques that needed to be cancelled.


I called the Easyweb folks, and after a little bit of sleuthing by a helpful young lady on the line, we found that yes one cheque had been cancelled twice (must have been an extra nasty cheque), so another refund was given and now we no longer owe anything for having the cheques cancelled. Good on TD for finding the error and fixing it.

Remember if you don’t ask the answer is always no, so it never hurts to ask if fees can be waived in exceptional situations.


  • Mike Carlson September 20, 2013, 8:21 AM

    It is really important to check every transaction especially when it involves your finances. Discrepancies do happen at times.

  • Jon Gilchrist September 18, 2013, 1:51 PM

    Cheque fraud occurs alot more often than most people think. We had a business cheque client who had one of his laser cheques stolen out of the mail. The criminals then made a duplicate cheque altering the payee name and address and deposited the cheque for over $7k. The bank refunded the clients account for the full amount.

    I told the client he needs to insist that the bank change his account # as is the cheque fraud occured once, chances are the same people will use his acct # again on another fake cheque.

    Jon Gilchrist
    Print & Cheques Now Inc
    1-866-760-2661 Ext 224.

  • My Own Advisor September 17, 2013, 7:52 PM

    Sorry to hear about this, but sounds like a good outcome in a bad situation.


  • Michael James September 17, 2013, 2:19 PM

    I once put a stop payment on a cheque to my landlord, but he just changed the date and cashed it successfully. Technically this was forgery, but my bank didn’t care. They wouldn’t lift a finger to help me get my money back.

    The spelling police tell me that near the end of your second paragraph, “waving” should be “waiving” 🙂

  • Anita September 17, 2013, 9:34 AM

    It’s always good to check and double check your bank statements!

  • Bet Crooks September 17, 2013, 9:16 AM

    Interesting and sorry to hear about the theft.

    Do the police have any other suggestions about protecting yourself after the theft of cheques? If they are regular cheques, they have your name/address/bank account transit and bank account number. I guess that’s not enough for most types of identity theft, but it’s still a lot of information.

    I’m also pleasantly surprised to hear TD and Scotia waive the fees. Good on them!


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