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April 12, 2024

Heads up! New check requirements to take effect on May 1

Philippine banks will discontinue acceptance of checks featuring the old design effective May 1, 2024.

This move aligns with the implementation of a new standardized check format, which includes specific numeric date formatting (month, day, year) and relocating the peso sign outside the amount box.

Originally slated for May 2, 2023, the implementation was delayed to allow customers to exhaust their remaining old-format checks.

Checks failing to meet the new standards will be rejected during clearing, with presenting banks receiving a designation of “Refer to Issuer: Old Format Check.”

Checkbook holders are advised to procure replacements featuring the updated design, as old-format checks will solely be viable for over-the-counter transactions with the issuing bank and will not be accepted through the clearing house system.