Financial Blog

The Philippine Clearing House Corporation (PCHC) will be implementing the new check design standard and specifications on May 2, 2023, as recommended by the Clearing Officers of Banks.

The PCHC Board approved that only checks with the following changes will be accepted for clearing starting May 2, 2023.

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 Signature/s Line/Spaced

New Check Design as Amended

However, old format checks in any of the following conditions will be still be accepted.

1. Post-dated Checks (PDCs) accepted/stamped “Warehoused” by banks before May 2, 2023;
2. PDCs without “Warehoused” stamp but bearing or printed with “Unique Identification Code’ (UIC) that indicates receipt by banks (for warehousing) before February 11, 2019 (date of issuance of CICS OM No. 19-030); and
3. Manager’s Check/Cashier’s Check issued by the clearing banks bearing the Waiver Statement and features required before the issuance of CICS OM No. 19-030 will still be acceptable for clearing beyond May 1, 2023.

Note that in Post Dated Checks, those without “Warehoused” stamps but bearing printed with Unique Identification Code (UIC) that indicates receipt by bank for warehousing before February 11, 2019 will be allowed and accepted because stamping and recapturing of previously accepted PDCs may be tedious and prone to errors.

All non-compliant checks that don’t fall within the conditions mentioned above when presented for clearing will not be accepted and shall be returned by the Drawee Bank to the Presenting Banks using the reason: Refer to Issuer: Old Format Check.

We’re counting on the cooperation of everyone on this matter. Read the full memorandum here: CICS OM No. 21-036.