The Philippine Clearing House Corp. (PCHC) has deferred the implementation of new check design standards and specifications until May 1, 2024, GMA News Online reported.
According to the memorandum circular issued by PCHC, the deferment will give bank clients “more time to exhaust remaining checks or base stocks of printed checks in their possession.”
PCHC said the intention of the full numeric date format is to implement a standard for writing the issue date on the check as after cutoff date, said standard shall become part of determining check acceptability for clearing.
With the deferment, the existing check format will still be accepted for clearing until April 30 next year.
