Checks should have fully numeric issue dates starting May — PCHC

The Philippine Clearing House Corporation (PCHC) has reminded the public that checks with the issue date written in alphanumeric format will no longer be accepted in May, except for select cases.

Based on a copy of Memorandum Circular 3738 dated January 17, obtained by GMA News Online, the PCHC reminded clearing participants that checks should have a full numeric issue date starting May 1, and alphanumeric issue dates will only  be accepted until April 30.

“We also would like to clarify that the intention of the full numeric date format is to implement a standard for writing the issue date on the check as after cutoff date, said standard shall become part of determining check acceptability for clearing,” the MC read.

The PCHC in 2018 already ruled that dates written in numeric format will be read by clearing banks following the month-day-year sequence, which means that checks dated January 24, 2023 should be 01/24/2023.

It noted, however, that checks with an alphanumeric format can still be accepted should they meet the following qualifications:

•     Post-dated checks (PDCs) accepted or stamped “Warehoused” by banks prior to May 2, 2023;
•     PDCs without the “Warehoused” stamp but bearing or printed with “Unique Identification Code”  which indicates that these have been received by banks prior to February 1, 2019;
•     Manager’s Check or Cashier’s Check issued by the clearing banks with the Waiver Statement, and the features required prior to the issuance of new check design standards and specifications.

Under CICS OM 21-036 issued by the PCHC in April 2021, the check design standards specify that the dates should follow the month-day-year format and should be in boxes, have the peso sign moved out of the amount in the figures box, and have boxed signatures.