MANILA, PHILIPPINES —  The Philippine Cleaning House Corporation (PCHC) released Memo Circular No. 3738 on January 17, 2023, to clarify the implementation of the new Check design standards and specifications which will take effect starting May 1, 2023.

The memo reminds all clearing participants that Checks with alphanumeric issue dates will remain acceptable until April 30, 2023. 

“We also would like to clarify that the intention of the full numeric date format (MM-DD-YYY) is to implement a standard for writing the issue date on the Check as after cutoff date, said standard shall become part of determining Check acceptability for clearing,” read the memo.

Banks generating computer-printed Checks for their customers are also advised to “revise attendant check printing applications in order to comply with the MM-DD-YYYY issue date format before the May 1, 2023 cutover date.” The same is also true for clients permitted by the bank to print their own computer-generated Checks.

Although Check with issue date written in alphanumeric format will no longer be accepted starting May 1, 2023, PCHC has a few exceptions as follows:

• The Check is among the Checks described under Section 2.2 of OM No. 21-036, which are as follows:
  • Post-Dated Checks (PDCs) accepted/stamped “Warehoused” by banks prior to May 2, 2023;
  • PDCs without “Warehoused” stamp but bearing or printed with “Unique Identification Code” (UIC) that indicates receipt by banks (for warehousing) prior to February 11, 2019 (date of issuance of CICS OM No. 19-030); or
  • Manager’s Check/Cashier’s Check issued by the clearing banks bearing the Waiver Statement and features required prior to the issuance of CICS OM No. 19-030;
• It is dated on or before April 30, 2023 and presented to the Presenting Bank for deposit prior to the 180th day from its issue date.

See the copy of Memo Circular No. 3738 below:

– WhatALife!

Source: (1)

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