Opinion ID: 1103241
Heading Depth: 1
Heading Rank: 7

Heading: whether there was a relationship of trust between wise and valley bank.

Text: ¶ 11. The relationship between a bank and its depositor is simply one of debtor and creditor. Deposit Guar. Nat'l Bank v. B.N. Simrall & Son, Inc., 524 So.2d 295, 300 (Miss.1987). The bank agrees to repay the debt shown by the balance in the depositor's account by disbursing funds according to the terms of the deposit agreement. The Court of Appeals clearly yet erroneously stated [t]he bank was in a relationship of trust with Wise ... Wise, 850 So.2d at 1180. This is not merely a harmless misstatement of the duty owed by Valley Bank, but rather is in direct conflict with previous decisions of this Court. The relationship between a bank and a depositor, without an agreement to the contrary, is simply one of debtor and creditor, and a deposit is not, ordinarily, a trust fund. Deposit Guar. Bank & Trust Co. v. Merchants' Bank & Trust Co., 171 Miss. 553, 158 So. 136, 137 (1934) (citing Moreland v. People's Bank of Waynesboro, 114 Miss. 203, 74 So. 828, 830 (1917)). Furthermore, we have found that the relationship between a bank and its depositor is generally not a fiduciary one. Merchants & Planters Bank of Raymond v. Williamson, 691 So.2d 398, 403 (Miss.1997). Therefore, Valley Bank did not owe any fiduciary duty to Wise.