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Allied Banking Corp. vs. Spouses Macam

Allied Banking Corporation and its branch head were held jointly and severally liable for damages after the bank unilaterally debited and closed the deposit account of the Spouses Mario Macam without notice. The funds in the account originated from an unauthorized P46 million transfer facilitated by a bank branch head, a portion of which was withdrawn and deposited into the spouses' account. The bank later reversed the credits and closed the account to recover the funds, leading to the suit for damages.

Background

Mario Macam invested P1,572,000 on the recommendation and facilitation of Elena Valerio, a unit manager in Helen Garcia's cellular card business. Valerio maintained a savings account with Allied Bank–Pasay. The dispute arose from a series of unauthorized fund transfers totaling P46 million allegedly sourced from Helen Garcia's account, which were credited to several accounts including Valerio's, from which the spouses' investment was ultimately sourced.

History

  1. RTC, Makati City, Branch 59, Nov. 12, 2007 — held Allied Bank and Dimog jointly and severally liable for P1.1 million with 12% interest per annum from Feb. 19, 2003, and ordered third-party defendants to reimburse Allied Bank.

  2. Court of Appeals, Nov. 10, 2011 — affirmed the RTC Decision.

  3. Supreme Court, Feb. 01, 2021 — Petition for Review filed by Allied Bank and Dimog.

Facts

Mario Macam invested P1,572,000 on the recommendation and facilitation of Elena Valerio, a unit manager in Helen Garcia's cellular card business. Valerio maintained a savings account with Allied Bank–Pasay (Acct. No. 3090-045359) into which Mario’s investment was placed. On February 6, 2003, a series of transactions at Allied Bank–Alabang Las Piñas Branch (AB‑ALP), then headed by Branch Head Maribel Cana, resulted in purported fund transfers totaling P46 million allegedly sourced from depositor Helen Garcia’s account. Cana gave fund-transfer receipts to teller Melissa Berras, who protested because Helen’s account lacked sufficient funds; Cana nevertheless executed a local override and the transfers were credited to five accounts, including Valerio’s (P10 million).

Valerio promptly withdrew and remitted P1,590,000 (via transfer) used to open an account in the names of the Spouses Mario Macam at Allied Bank–Pasong Tamo (AB‑PT). The spouses made withdrawals totalling P490,000, leaving P1.1 million in their account. The bank later reversed and recovered some funds but, on February 19, 2003, ordered the debit of the remaining P1.1 million and closed the spouses’ account. The spouses discovered the closure on March 3, 2003 and sued Allied Bank and AB‑PT Branch Head Dimog for damages.

Allied Bank denied liability and asserted ownership over the funds traced to the P46 million fraudulent credits; it filed a third‑party complaint against the Spouses Cana and Spouses Garcia. The third‑party defendants disclaimed liability for the initial fund transfers. The pre‑trial order contained stipulated facts acknowledging the opening of the spouses’ account on February 6, 2003 with an opening balance of P1,590,000 (transferred from Sheila/Manuel Macam), the P10 million remitted to Valerio, Valerio’s withdrawal and remittance, the spouses’ three withdrawals, and the bank’s debit/closure of the account on February 19, 2003 without notice.

Issues

  • Bank Liability: Whether Allied Bank is liable for unilaterally debiting and closing the deposit account of the Spouses Mario Macam.