My mother put a tsfa in her name and allowed for deductions every paycheck for her granddaughter who is 14. When she passed away, my sister who is executor visited the bank and asked them if she could keep the tsfa there until my daughter is ready for it and they said sure. Fast forward 6 months later and turns out that they have been deducting nsfs from the tsfa because there’s no money in the estate account.
Next there is the run around with the banks. I go to one bank and they tell me to call my mother’s home branch. Sister calls the branch and they said my daughter can retrieve the tsfa from any branch in Canada because we live a distance away from my mother’s home branch. Has anyone had any experience with this, and is there any way to get those nsfs refunded? It makes no sense that they would still try to deduct for a tsfa when the bank account is an estate account and nothing in there. Essentially stealing from the beneficiary who is a child.