Announcement

<strong>PCHC NEW CHEQUES STANDARDS AND SPECIFICATIONS</strong>

PCHC NEW CHEQUES STANDARDS AND SPECIFICATIONS

February 20, 2023

To our Valued Client,

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The Philippine Clearing House Corporation (PCHC) will be implementing new cheque design standards and specifications effective 02 May 2023 in line with PCHC Issuance CICS OM No. 21-036.

Please be informed that under PCHC Issuance CICS OM No. 23-040 and Memo Circular No. 3743, the effectivity date of the new cheque design has been deferred to 01 May 2024.

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Please take note of the below reminders: 

  1. The PCHC Board approved that only those cheques with the following changes will be accepted for clearing starting 01 May 2024:
    1. Standard Month-Day-Year format (MM-DD-YYYY) for the date, supported by date format guide below the dateline and box for each of the MM-DD-YYYY letters.
    2. Peso (₱) Sign moved out of the Amount in Figures box (placed before the box).
    3. Boxed white spaces for Date of Issue, Amounts in figures and Signature/s of Issuer/Drawer.
  1. All Old Format Checks shall no longer be acceptable for clearing by 01 May 2024, except:
    1. Checks dated 30 April 2024 or earlier and presented for deposit or encashment prior to the 180th day from date of issuance.
  1. All non-compliant cheques that don’t fall under the conditions mentioned above shall not be accepted for clearing and shall be returned by the Drawee Bank to the Presenting Bank using the reason: “Refer to Issuer: Old Format Check”.

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Kindly ensure that all outstanding cheques for presentment and processing are done prior to effectivity of the new regulation. Your support and cooperation are highly appreciated.

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If you have clarifications, please call the undersigned for any guidance.

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MARIA PEEGEE SAN JUAN

Cashier