People v Ong; G.R. No. 93849; 20 Dec 1991; 204 SCRA 942

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Accused Ong opened a savings account from which he was allowed to withdraw against uncleared checks and uncollected deposits on several occasions with the approval of his co-accused, the bank’s branch manager and cashier. When the bank presented eleven checks issued and deposited by the accused, they were all dishonored for lack or insufficiency of funds.

Whether or not bank deposits are irregular deposits.

YES. They are really loans because they earn interest. All kinds of bank deposits, whether fixed, savings, or current are to be treated [as] loans and are to be covered by the law on loans. Current and savings deposits are loans to a bank because it can use the same.

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