488 SCRA 517



Spouses Cabamongan opened a joint and/or foreign currency time deposit in favor of their two children with Citibank.  On a material date, a person who  claimed  to  be  Carmelita  sought  the  pretermination  of  the  account.  She  presented  identification  cards  to  ascertain  her  identity  to  the  then account  officer.    When  she  left  with  the  money,  she  left  an  identification card.    The  account  officer  then  called  up  the  address.    The  spouses  and their family knew of the incident.  They were presently residing in the US and there was a prior incident wherein they got robbed in their house with the jewelry box and cards stolen.  Spouses made several demands for the return of the amount but Citibank refused to do so.


Citibank was negligent.  First, the “depositor” didn’t present the Certificate of Deposit.  Second, from the internal memorandum issued by the Account Officer, he admitted to the fact that the specimen signature was different from  the  one  who  misrepresented  herself  as  Carmelita.    Third,  the  bank kept  in  its  records  pictures  of  its  depositors.    It  is  inconceivable  how  the bank was duped by an impostor.