Appeal to firm as euro 417,000 bank draft lost in post

A couple whose bank draft for €417,000 was lost in the post are hoping to persuade the courier company involved to sign an indemnity…

A couple whose bank draft for €417,000 was lost in the post are hoping to persuade the courier company involved to sign an indemnity form to allow them access to their life savings.

Mr Laurence and Annette Power want Parcelforce, a subsidiary of Royal Mail, to sign an indemnity form after they admitted losing the parcel containing the bank draft.

"We are hoping to shame Parcelforce with adverse publicity in the British and Irish media into signing the indemnity so we can get our funds back," said Mr Powers.

"If not, we will go down the legal road," he added.

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The Powers have refused an offer of £250 from Parcelforce as compensation, calling it "a pittance" for the loss of the bank draft.

Mr Power had sent the proceeds from the sale of a house in Dublin in a bank draft to their solicitor in Dublin from Ispwich, England, on February 10th when it went missing.

Mr Power claims he sent his bank draft by Parcelforce after Royal Mail staff in the post office recommended it to him.

When the bank draft was reported missing, it was traced down to the time of collection at Dublin Airport.

It hasn't been located since.

A spokeswoman for Parcelforce said the Powers should not have sent "cash" by post, but the Powers said Post Office staff recommended doing so.

The Powers have not heard from Parcelforce since their letter admitting responsibility for the loss last February.

Meanwhile AIB, who issued the bank draft, purchased a house in England on the Powers's behalf and are holding the remainder of the amount owed to the Powers, a cheque for £105,000.

"It boils down to AIB who don't trust their clearance system and the security built into it," Mr Power told The Irish Times.

"AIB want Parcelforce to sign an indemnity form covered by their insurance company in the event of the bank draft being cashed," he said.

However, Mr Power said that Parcelforce have refused to sign any indemnity form. "They gave us a straight no, saying it wasn't part of their policy," he said.

"We can reissue a draft if the customer signs an indemnity form, because the bank is issuing the money twice, in effect," said an AIB spokeswoman last night.

AIB refused to comment on individual cases but said it was "common for the proceeds of house sales to be transferred in the form of a bank draft as it guarantees payment".