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April 12, 2024

Naka-order na ba ang lahat? Here’s why PSBank advises clients to get new checkbooks

Checking account holders of PSBank need to order new checkbooks to comply with a new rule issued by the Philippine Clearing House Corporation.

PSBank announced that starting May 1, 2024, it will only accept checks that comply with the new design approved by PCHC.

The new look is compatible with digital check readers that reduce the processing time for the debit and credit of funds.

The updated check format features boxes for dates, which should be stated as MM-DD-YYYY. The peso sign also appears outside the “amount in figures” box.

Instead of a line, the signature field is now a box.

In an advisory, PSBank said checks that don’t follow the new format will be returned to the client after May 1, 2024.

The lender advised clients to order new checkbooks with a new design and format to avoid any inconvenience.