New check format to be implemented on May 1
MANILA, Philippines — Banks in the Philippines will only accept bank checks with the new design starting May 1, the Philippine Clearing House Corporation (PCHC) reminded the public.
The implementation of the new check format and specifications, originally scheduled for May 2, 2023, has been rescheduled to May this year.
One of the alterations includes the adoption of a standard date format, which will now use the numerical format of month-day-year.
The updated design now features the Philippine Peso sign positioned outside the numerical amount panel and includes a new designated box for signatures.
Old check designs will be accepted by banks for clearing until today, April 30, 2024.
Checks that have not been converted to the new format, or are written in alphanumeric form, may still be accepted as long as they are dated until today, April 30, and they are presented for deposit within 180 days from the issue date. — Ian Laqui; with reports from the The Philippine Star
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