Financial Blog

In line with the new check design implemented by the Philippine Clearing House Corporation (PCHC) last May 1, 2024, incorrect check writing formats will no longer be acceptable starting July 1, 2025.

New check guidelines:

The Issue Date

Please use pure numeric value MM-DD-YYYY, with dash (“-“) as the only allowed partition symbol. Use of any other symbols to separate the month from the day and the day from the year will no longer be accepted for clearing.

Accepted Format:

NOT Acceptable starting July 1, 2025:

The Amount in Figures

The amount in figures should be standard numbers, separated by comma and period (.) for centavos [i.e. hundred from thousand by a comma (,), thousands from millions by a comma, so on and so forth]. The numbers in the amount box should not be enclosed by any symbols (e.g. *, -, +) to enable accurate character amount recognition.

Acceptable:

NOT Acceptable starting July 1, 2025:

The Payee

Except for payment intended for Government Agencies like BIR/BOC where “Payee” name may include additional text like, “FAO Bureau of Internal Revenue…”, the payee line may indicate the name of a person, entity, or “Cash”. While there is no prohibition in adding any symbols before and after the payee name to deter attempt to alter/change the name of the payee, the combination of ‘Person Name and Cash’, ‘Person Name and/or Cash’, ‘Business Name or Cash’, and ‘Business Name and/or Cash’ is considered a Technical Defect and as such, not acceptable for deposit/clearing.

Acceptable:

NOT Acceptable starting July 1, 2025:

The Amount in Words

The amount in words is a must for a check to be acceptable for deposit/clearing. There are no restrictions regarding symbols traditionally placed before and after the amount in words to deter attempt for alteration.

Whole Amount (no centavos):

Without the word ‘Only” for whole amount (no centavos) does not render the check unacceptable for deposit/clearing.
Amount with centavos:

The Signature/s

The presence of drawer’s signature validates the check issued as regular and negotiable. Two signatories may share one signature box and signature that exceed the box boundaries do not affect the check’s acceptability for deposit/clearing.

As we approach the July 1, 2025 deadline, it’s essential to familiarize yourself with the new check guidelines set forth by the Philippine Clearing House Corporation. Adhering to these regulations will ensure that your checks are processed smoothly and without delay. Make sure to review your current practices and educate anyone involved in the check-writing process. Staying informed and compliant not only safeguards your financial transactions but also contributes to the efficiency of the banking system. For more information, you may visit PCHC’s publications web page.