Bank of the Philippine Islands v. Spouses. Quiaoit G.R. No. 199562, 16 January 2019

 

In Spouses Carbonell v. Metropolitan Bank and Trust Company, the Court emphasized that the General Banking Act of 2000 demands of banks the highest standards of integrity and performance. The Court ruled that banks are under obligation to treat the accounts of their depositors with meticulous care. The Court ruled that the bank's compliance with this degree of diligence has to be determined in accordance with the particular circumstances of each case.

BPI insists that there is no law requiring it to list down the serial numbers of the dollar bills. However, it is well-settled that the diligence required of banks is more than that of a good father of a family. Banks are required to exercise the highest degree of diligence in its banking transactions. In releasing the dollar bills without listing down their serial numbers, BPI failed to exercise the highest degree of care and diligence required of it. BPI exposed not only its client but also itself to the situation that led to this case. Had BPI listed down the serial numbers, BPI's presentation of a copy of such listed serial numbers would establish whether the returned 44 dollar bills came from BPI or not.