Please be informed of the new requirements for writing information on checks for deposits and clearing, which will be effective starting July 1, 2025. It is important that all checks submitted for deposit or clearing adhere to the updated PCHC Memo Circular to ensure smooth processing and avoid delays and penalties.
1. Issue date:
The date to be indicated on the Check must be purely numeric MM-DD-YYYY, with dash (“-”) as the only allowed partition symbol
2. Payee:
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. Except for payment for Government Agencies like BIR/BOC where “Payee” name may include additional text like, “FAO Bureau of Internal Revenue…”
3. Amount in Figures:
The amount to be indicated inside the amount box should be a standard number where centavos are separated by a period (.), the hundreds from thousands by a comma (,), thousands from millions by a comma, so on and so forth. The numbers in the amount box should not include any symbols before and after the enable accurate character amount recognition.
4. 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 attempts for alteration.
Without the word “Only” for the whole (no centavos) does not render the Check unacceptable for deposit/clearing.
5. 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 exceeds the box boundaries do not affect the Check’s acceptability for deposit/clearing.
