Ottawa, Canada – Dobrinka Gueorguieva, a recent widow, encountered a distressing situation when her pension funds were mistakenly deposited into a stranger’s account by CIBC, her bank. After providing a void cheque to set up her pension deposits, Gueorguieva discovered that the account number on the cheque had been “recycled” by the bank, resulting in five pension payments being deposited into the wrong account. Although the bank was able to recover three of the payments, two months’ worth totaling $1139.71 could not be retrieved.
Returning from a trip to Bulgaria where she had fulfilled her late husband’s wish to scatter his ashes in their homeland, Gueorguieva found herself running out of money. She discovered the error upon her return to Ottawa and immediately sought assistance from her CIBC branch at the Train Yards shopping area. The bank’s explanation that the account she provided had been reused due to a branch relocation left her shocked and confused. Furthermore, she was informed that she would need to take the other customer to court to recover the missing payments.
As a result of the situation, Gueorguieva experienced financial hardships, having to borrow money from friends and family and defaulting on credit card payments. Her efforts to address the issue with the bank’s internal complaint process were unfruitful until CBC inquired about the matter. Subsequently, Gueorguieva was reimbursed for the missing funds after moving all her banking to RBC, and CIBC began considering further compensation for her.
Michel Thellend, a paralegal representing Gueorguieva, was the individual who brought the matter to light, revealing the bank’s failure to recognize its role in the blunder and highlighting the impact of the error on the retiree’s financial stability. As a result of this situation, Gueorguieva’s trust in the bank was severely diminished, prompting her to transfer all her accounts to a different financial institution.
Despite the challenges she faced, Gueorguieva’s perseverance and determination to resolve the issue led to a positive outcome. This ordeal sheds light on the importance of thoroughness and accuracy in banking procedures to prevent such errors from occurring in the future.