CANADIAN TD COIN COUNTING CLASS ACTION SETTLEMENT
This website was last updated on March 22, 2021
Click here to log in to the Claims Portal | Instructions
Dear Class Member,
PAYMENT OF CLAIMS - All cheques must be cashed by June 10, 2021
We have resent all cheques that were returned to our post office box.
Due to Covid-19, we will not be making payments directly into TD Bank customer’s bank account. We will only be making payments by cheque.
The Claims Administrator shall have no responsibility for locating Settlement Class Members for any mailing returned to the Claims Administrator as undeliverable.
The Claims Administrator shall have the discretion, but is not required, to reissue payments to a Settlement Class Member returned as undeliverable under such policies and procedures as the Claims Administrator deems appropriate. Any costs associated with locating current address information for the Settlement Class Member shall be deducted from the Settlement Class Member's settlement benefits.
REISSUANCE OF PAYMENT
Where a Settlement Class Member who is entitled to payment of greater than $25 requests that an e-transfer be reissued, $10 shall be deducted from that Settlement Class Member's settlement benefits representing the costs of reissuing payment. Where a Settlement Class Member who is entitled to payment of greater than $25 requests that a cheque be reissued, $15 shall be deducted from that Settlement Class Member's settlement benefits representing the costs of reissuing payment. Subject to the sole discretion of the Claims Administrator, payments for $25 or less will not be reissued.
It is important that Class Members and Claimants check the website and the claims administration portal for updates.
DISTRIBUTION OF NET SETTLEMENT FUNDS
The Court has approved a Settlement Class Member’s total recovery from the Net Settlement Funds to be capped at 20% from 2% of the value of their Deposited Coins.
We have updated the online claims administration portal with the increased pro rata payments based on the increased maximum of 20%.
The Net Settlement Funds will be distributed to Settlement Class Members pro rata (or proportionally) based on the value of the Settlement Class Members’ Deposited Coins as against the value of all Settlement Class Members’ Deposited Coins, as determined by the Claims Administrator.
A Settlement Class Member’s total recovery from the Net Settlement Funds will be capped at 20% of the value of their Deposited Coins.
All Claims assessed as valid by the Claims Administrator will be assigned a minimum payout value of $25.00. The $25.00 payout target is not an estimate of any damages suffered. It is a minimum administrative threshold designed to maintain a feasible economic and administrative platform for the settlement distribution. For example, if 20% of the Settlement Class Member’s Deposited Coins is only valued at $18 pursuant to the Amended Distribution Protocol, the Settlement Class Member would receive a $7 increase to their payout.
THE SETTLEMENT FUND
The settlement amount of the class action reached with TD Bank totaled $555,000. The aggregate settlement amount, plus interest and less court-approved legal fees and deductions (the “Net Settlement Funds”), available for compensation to Settlement Class Members totals $329,209.
PURSUANT TO THE AMENDED DISTRIBUTION PROTOCOL:
Deposited Coins means the value of the coins deposited into a TD Bank Coin Counting Machines by a Settlement Class Member during the Class Period as evidenced by supporting documentation, such as receipts or bank statements, as determined by the Claims Administrator and subject to the minimum value of $25;
Class Period means between January 1, 2013 and May 25, 2016;
Settlement Class Members means all persons who used TD Bank’s Coin Counting Machines in Canada during the Class Period.
CLAIMS ADMINISTRATOR’S DECISION
In respect of each Settlement Class Member who has filed a Claim in accordance with this Amended Distribution Protocol, the Claims Administrator shall decide whether the Settlement Class Member is eligible to receive settlement benefits payable out of the Net Settlement Funds in accordance with the Settlement Agreement, orders of the Court and this Amended Distribution Protocol.
The Claims Administrator shall send to the Settlement Class Member, by email or regular mail, a decision as to the approval or rejection of the Claim (the “Decision Notice”). Where the Claims Administrator has rejected all or part of the Claim, the Claim Administrator shall include in the Decision Notice its grounds for doing so.
The Claims Administrator’s decision will be final and binding upon the Settlement Class Member.