January 26, 2023

Dear Valued Clients,

Related to our earlier announcement this is to inform you that the implementation of the new Check Design Standards and Specifications is  deferred to May 1, 2024. This deferment in implementation is effected with a view to allowing more time for bank clients to exhaust remaining checks or base stocks of printed Checks in their possession.

To recall, New Check design shall include the following changes:

• Standard Month-Day-Year (MM-DD-YYYY) in FULL NUMERIC FORMAT, with the date format guide below the dateline and a box for each of the MM-DD-YYYY characters.
• The PESO (₱) sign is excluded (moved out) from the box where the Amount in figures will be written (Peso sign placed before the box)
• Boxed Signature/s Line

The foregoing changes are intended to: 

• Set a standard or uniform format of writing the date on checks in order to avoid misinterpretation of date issue; and
• Enhance check processing capabilities by providing banks better optical character recognition features that are needed for an automated check verification system.

Furthermore, Starting May 1,2024, a Check on which the issue date is written in alphanumeric format will no longer be accepted except when-

1. It is among the Checks described under Section 2.2 of OM No.21-036 which are as follows:
1. Post-Dated Checks (PDC) accepted/stamped “Warehoused” by banks prior to May 2,2023;
2. PDC's without "Warehoused" stamp but bearing or printed with "Unique Identification Code"(UIC) that indicates receipt by banks (for warehousing) prior to February 11,2019 (date of issuance of CICS OM NO. 19-030); or
3. Manager's Check/ Cashier's Check issued by the clearing banks bearing the Waiver Statement and features required prior to the issuance of CICS OM No. 19-030
2. It is dated on or before April 30,2024 and  presented to the Presenting Bank for deposit prior to the 180th day from its issue date.

Please refer to the attached Sample of New Check Designand PCHC's CICS OM No.23-040for your information and guidelines.

For further concerns and inquiry you may contact Ms. Gracielle Dumalo (042457@megaicbc.com) or Ms. Alby Lapid (aglapid@megaicbc.com) thru 8115807-14 loc.109 or 264

Thank you!

Mega ICBC Manila Branch