UPS Lost a Man’s Nearly $700,000 Inheritance





You Might Like

6 comments

  • Whiskey Tango Foxtrot…they couldn’t drive there??? The bank couldn’t do a wire transfer??? The bank couldn’t put a stop payment and re-issue the check??? Sounds like a bunch of friggin’ idiots to me!

  • This is not a UPS issue. This is a bank issue.

    First, the bank made the incorrect recommendation to the Lorette Taylor. They should have recommended a wire transfer or a personal check from the estate. The wire transfer would have deposited good funds into every party’s account. The personal check would have been accepted by the party’s bank, but that bank would have put a hold on the funds until the bank is sure that the check will not bounce (10 days at most).

    The requirement of collateral for an indemnity in this situation was asinine. The check had not cleared. The issuing bank puts a stop payment on the check. The check is several months old. It is lost in transit. The only risk for the issuing bank is that Mr. Taylor finally receives the check and negotiates it at his bank. Mr. Taylor’s bank gives him credit for the money and Mr. Taylor withdraws the money before the check is returned from the issuing bank. The issuing bank is on the hook for the first check (maybe).

    The issuing bank should have provided a replacement check along with an indemnity agreement. The issuing bank should have notified Mr. Taylor that the original check had been canceled and if he receives it to mail it back to the issuing bank.

    If some party happens to “find” the check an attempts to negotiate it, the bank or place where he is attempting to negotiate it will contact the issuing bank BEFORE they give the finder any CASH.

    UPS handled the situation correctly.

  • That’s story must have a lot more going because anyone would know to never send something like that through UPS. If you want to transfer money to anyone you always do a bank wire draft which does not require the mail whatsoever. It appears we have some real dumb dumb especially the one bank Who recommended she send it via a check instead of a wire draft. They’re the ones who should be held liable.

  • Seems to me the bank told her a very erroneous way to get the money to the man. Why didn’t she have it sent directly from bank to bank? It doesn’t taken a brain surgeon to figure out what risk you run adding a 3rd person or more more to the mix. IDIOTS and I don’t think it’s a UPS problem for another person’s stupidity.

Leave a Reply