{"id":4279,"date":"2016-01-05T10:25:01","date_gmt":"2016-01-05T02:25:01","guid":{"rendered":"http:\/\/primer.com.ph\/staff-blog\/?p=4279"},"modified":"2016-01-05T16:18:11","modified_gmt":"2016-01-05T08:18:11","slug":"checks-with-erasures-corrections-no-longer-accepted-in-2016","status":"publish","type":"post","link":"https:\/\/primer.com.ph\/blog\/2016\/01\/05\/checks-with-erasures-corrections-no-longer-accepted-in-2016\/","title":{"rendered":"Checks with erasures, corrections \u2013 no longer accepted in 2016"},"content":{"rendered":"<p style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4280\" src=\"https:\/\/primer.com.ph\/staff-blog\/wp-content\/uploads\/sites\/14\/2016\/01\/bankchecks.jpg\" alt=\"bankchecks\" width=\"850\" height=\"478\" \/><\/p>\n<p style=\"text-align: center\"><em>Photo from foxbusiness.com<\/em><\/p>\n<p style=\"text-align: justify\">Starting January 4, 2016 checks with erasures, corrections, and any forms of deficiencies shall no longer be accepted based on the Philippine Clearing House Corporation (PCHC) Memo Circular 15-460.<\/p>\n<p style=\"text-align: justify\">With the said memo, clients are urged to refrain from making any alterations on issued checks effective immediately.<\/p>\n<p style=\"text-align: justify\">According to the memo, any alterations made on the date, identification, amount (figures and words), signature, account name and number, check number, MICR character, or non indication of date, payee, amount payables in figures, amount payables in words except for checks issued by banks (Manager\u2019s or Cashier\u2019s Checks, Demand Drafts) using a check writer, or signature of the drawer will no longer be valid and accepted except for Post Dated Checks bearing bank stamp.<\/p>\n<p style=\"text-align: justify\">This \u2018no erasures\u2019 rule is in relation to PCHC\u2019s Check Image Clearing System that will help shorten the processing of checks from three days to one.<\/p>\n<p style=\"text-align: justify\">According to PCHC, this will also help in the security measures of all banks.\u00a0 For more information about the memo, see images below.<\/p>\n<p style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4286\" src=\"https:\/\/primer.com.ph\/staff-blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM1.png\" alt=\"CHOM\" width=\"427\" height=\"447\" srcset=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM1.png 427w, https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM1-287x300.png 287w\" sizes=\"auto, (max-width: 427px) 100vw, 427px\" \/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4287\" src=\"https:\/\/primer.com.ph\/staff-blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM21.png\" alt=\"CHOM2\" width=\"516\" height=\"561\" srcset=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM21.png 516w, https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/01\/CHOM21-276x300.png 276w\" sizes=\"auto, (max-width: 516px) 100vw, 516px\" \/><\/p>\n<p style=\"text-align: justify\"><em>Source report from: http:\/\/www.mb.com.ph\/checks-with-erasures-will-no-longer-be-accepted\/<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starting January 4, 2016 checks with erasures, corrections, and any forms of deficiencies shall no longer be accepted based on the Philippine Clearing House Corporation (PCHC) Memo Circular 15-460.<\/p>\n","protected":false},"author":3,"featured_media":4280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/01\/bankchecks-e1451960743899.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/4279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=4279"}],"version-history":[{"count":10,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/4279\/revisions"}],"predecessor-version":[{"id":4299,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/4279\/revisions\/4299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/4280"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=4279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=4279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=4279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}