Reminder: Only PCHC-compliant Checks will be Accepted Starting May 1, 2024
Starting May 1, 2024, only checks with the new PCHC-compliant format will be accepted for clearing.
In accordance with the new policy of the Philippine Clearing House Corporation (PCHC), starting May 1, 2024, banks will no longer accept or honor checks with issue dates in alphanumeric format.
Per PCHC Memo Circular No. 3949, the new check design to be fully implemented on May 1 must have the following changes:
1. Standard format date of Month-Day-Year (MM-DD-YYYY) in a box.
2. Peso (₱) sign is moved out to the left side of the box.
3. Signature box replaces the signature line.
IMAGE from Metrobank
Please make sure that your checks are compliant with the new check design standards on or before May 1, 2024 to avoid any inconvenience.
Contact your local bank for inquiries and concerns regarding this memorandum.
According to the PCHC, these changes aim to establish a uniform format for writing dates on checks in order to minimize misunderstandings and enhance the efficiency of check processing. By doing so, banks will benefit from improved optical character recognition capabilities that will facilitate smoother transactions.
