Widower goes public over bank mistake

a Nova Scotia man wants to go public tonight about how he was treated by his bank after his wife died instead of easing Patrick McDonald's troubles Scotiabank fumbled his financial affairs landed him with a huge tax bill from the government then refused to help him pay it the CBC's Cathy Tomlinson has more the last thing Patrick McDonald needed was money worries caused by his bank mistakes are made all the time but there are numerous mistakes that were made in this case MacDonald has five children three still at home he's been raising them alone since his wife died five years ago she was sick for three years with breast cancer before she passed away yes Scotiabank to transfer his wife's $80,000 RRSP into his a simple and routine transaction when a spouse dies they left me feeling confident that everything was going to be looked after the branch then lost his paperwork and sat on the file for months missing a crucial tax deadline I get a thirty thousand dollar tax bill that I didn't cause McDonald's tax bill now stands at $35,000 that's because RRSPs must be rolled over by the end of the year in the year following death or the money is fully taxed can you take that tie up I would like Scotiabank to fix this so that it would cost me a dime he says the branch manager told them the bank was sorry but it wouldn't pay the balls dropped and it's the bank this independent financial planner believes this case shows how far personal service has fallen I believe the larger institutions are not necessarily focusing in on on the individual you become a number in a banking system and their computer system you're no longer a person as a result of our inquiries Scotiabank has now had a change of heart it's now offering Patrick McDonald $37,000 for his troubles it calls this a rare and regrettable occurrence and says it apologizes Cathy Tomlinson CBC News Vancouver if you have a story you want to go public with please get in touch with Kathy and her team you can send an email to go public at cbc.ca or go to our website cbc news dot CA slash the national and follow the links

Channel: CBC News: The National

Views: 14,831

Rating: 4.7551022 out of 5

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Id: cNPoTCihwU0

Length: 2min 46sec (166 seconds)

Published: Mon Oct 21 2013