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  1. When is the implementation date of the New Check Design and Specifications?
     
    May 1, 2024. Beginning such date, only checks with the new Philippine Clearing House- compliant format are accepted for clearing.

  2. What are the changes on the check (new format)?


    The new format has the following features:
     

     

    1 - Date is in a box, and formatted as MM-DD-YYYY (ex: 06-12-2024 for June 12, 2024)
    2 - The PESO SIGN appears OUTSIDE THE “Amount in Figures” box
    3 - The SIGNATURE FIELD IS IN A BOX and replaces the signature line


    For reference, here is a comparison of the new and old check designs:


  3. What happens if I USED THE WRONG DATE FORMAT on the new checks AFTER MAY 1, 2024 (example: date spelled out or not following the sequence of the date)?

    Your check will NOT BE ACCEPTED FOR DEPOSIT or ENCASHMENT. It will be RETURNED.

  4. What will happen to my old checks after the implementation date?

    They will NOT BE ACCEPTED for deposit or encashment, and will be returned. We encourage you to ORDER NEW CHECKBOOKS (new format, new design) to avoid any inconvenience.

  5. I already issued post-dated checks (PDCs) to somebody / payee – for bank for loan amortization, to a property manager, etc), SHOULD I NEED TO REPLACE THESE?

    If these PDCs have been STAMPED “WAREHOUSED” by your Payee’s bank BEFORE May 1, 2024, these will be ACCEPTED and need not be replaced.
     
    If you have outstanding checks with the old design, please have these presented and cleared BEFORE May 1, 2024 to avoid inconvenience.
     
    Order your NEW CHECKS with NEW FORMAT as soon as possible.

  6. How do I request for a new checkbook with the new format? How long will it take for me to get these new checks?

    You may order NEW CHECKBOOKS with the new PCHC-compliant design through your branch of account, PSBank Mobile / Online. Applicable fees shall apply. Visit www.psbank.com.ph for further details.

  7. Is the new format (PCHC compliant) check available in the branch today?

    YES. PSBank no longer issued the old-design checks beginning December 2022.

  8. With this implementation, will there be changes to the clearing period or cut-off time?

    None. Standard check clearing period and cut-off times continue to apply.






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