No, that is not true. Unlike a cheque, in case of a bank draft, the funds have been moved from your account and is held in bank's foreign currency account (in this case CAD account) waiting to be cleared by the payee on submission of the bank draft at their bank in Canada. So, the bank will definitely know when the funds are cleared. May be the branch people are lazy to find from the Treasury Management Team/Forex Team whether the draft has been encashed or not. If you insist, they will have to give you details regarding the same as your funds are held in bank's account ready to be paid to the payee (Ontario Minister of Finance).