Please be advised that effective 04 January 2016, in compliance with CHOM No. 15-460/A issued by the Philippine Clearing House Corporation (PCHC), banks will no longer be able to honor checks bearing the following:
Any erasure or alteration in the entries below
- Date
- Name of Payee
- Amount in Figures
- Amount in words
- Signature/s of the drawer/s or drawer's signatory/ies
- Account name
- Account number
- Check number
- Magnetic Ink Character Recognition (MICR) characters
Any deficiency in the following entries
- Date
- Payee
- Amount payable in figures
- Amount payable in words - except for checks issued using a check writer
- Signature/s of the drawer/s or drawer's signatory/ies
Regardless of any signature or initial that appear to indicate authorization of the alteration or erasure shall no longer be eligible or accepted for clearing.
Regardless of any signature or initial that appear to indicate authorization of the alteration or erasure shall no longer be eligible or accepted for clearing.
List of some Bank's notice:
