TO : ALL OUR VALUED RESIDENTS
DATE : JULY 6, 2017
SUBJECT : NEW CHECK FORMAT AS REQUIRED BY PCHC
Kindly be reminded of the new check format as required by the Philippine Clearing House Corporation (PCHC) with the approval of the Bangko Sentral ng Pilipinas (BSP) effective July 1, 2017. Please see below sample of the new cheque format with different size and with waiver and authorization statement under the Pesos line:
The above format is required by all banks and old formats will no longer be accepted effective July 1, 2017.
Kindly note that checks that would be sent for clearing starting July 1, 2017 shall be subject to penalty of Php 250 per item to be collected by PCHC from the Presenting Bank.
Furthermore, please be reminded to avoid the following when writing out checks to ensure acceptance of the bank:
· Checks with erasure and alteration
· Checks with deficiency such as incomplete information like date, payee, amount, signature
· Checks that are folded, crumpled, deformed, mutilated, torn edges and smudges
· Use of Gel pens, light colored ink and felt pens are prohibited as the information may not be captured correctly.
For your kind information and guidance.
For and on behalf of
The Address at WackWack Condominium Corporation