New Philippine Peso Check Design and Clearing Process

New Philippine Peso Check Design and Clearing Process

New Philippine Peso Check Design and Clearing Process

In line with the implementation of the Check Image Clearing System (CICS) by the Philippine Clearing House Corporation (PCHC), we wish to remind you that beginning July 1, 2017, PCHC will no longer accept old format checks, except
for post-dated checks warehoused by banks on or before December 31, 2016.

Please note as well that checks with alteration/s or erasure/s are no longer acceptable for clearing even if countersigned by the drawer (the party issuing the check). Further, checks with missing information such as date, payee, amount in figures, amount in words, and signature will also no longer be acceptable for clearing.

Peso Check

The new checks are bigger with dimensions of 8"x3". They also include the drawer's agreement: "I / We allow electronic clearing of this check and hereby waive the presentation of the original to the drawee bank."

IMPORTANT REMINDERS:

  • If your Peso checks are still in the old format, please request to have your checks replaced before July 2017 to avoid any inconvenience.

    To get a new Peso Checkbook, you may:

    • Logon to Citibank Online at www.citibank.com.ph.
    • Request through any Citibank ATM.
    • Call CitiPhone at 995 9999995 9999.
    • Visit any Citibank branch.

    Please note that you will be charged a fee of Php300 per booklet ordered. Ordered booklets will be delivered to your registered address on record.

  • Ensure that your or your authorized representatives' (for corporate accounts) specimen signatures with us are updated.

  • Ensure that the checks you issue are sufficiently funded.

  • Use pens with dark-colored ink (blue or black) to write on your checks. Please ensure to fill in the following:

    • Date of check issuance.
    • Name of payee (or indication of Bearer or Cash for payee's name).
    • Amount in figures and in words.
    • Your signature as issuer.
  • Do not use pencil, pens with gel ink or erasable ink to fill out required information.

  • All required information must be clearly and completely indicated on the check with no alterations or erasures. Checks with any alteration/s or erasure/s even if countersigned by the drawer/issuer will no longer be accepted for clearing and will be returned. Please note that returned checks are subject to a fee of Php2,500 per check.

  • Do not fold, crumple, staple, or mutilate checks or make markings thereon that will overlap with the required information.

  • Review your monthly bank statements upon receipt. You may still request for a photocopy (image reproduction) of your negotiated check/s, for which you will be charged a fee of Php100 per check image copy.

FREQUENTLY ASKED QUESTIONS

Click on to expand and on to minimise the details.

This is an automated system adopted by the Philippine Clearing House Corporation (PCHC) which facilitates the clearing / returning of checks via electronic image and data exchange among clearing participants.

When the CICS is fully implemented, the check clearing will be shortened. Instead of the usual 3 to 5 banking days turnaround time for check clearing, CICS will make the proceeds of the check available on the next banking day after your deposit.

Yes, the new guidelines are as follows:

  • New Check Design
    • New dimensions: 8" x 3".
    • The check includes an agreement of the drawer that: "I/We allow the electronic clearing of this check and hereby waive the presentation for payment of this original to (Drawee Bank)".

    OLD DESIGN

    OLD DESIGN - Peso Check

    NEW DESIGN

    NEW DESIGN - Peso Check
  • Enhanced embedded security features for your protection.

Checks under the old format will no longer be accepted starting July 1, 2017 except for post-dated checks that were warehoused by banks on or before December 31, 2016.

For your personal accounts, you may request for new checks through any of the following channels:

To get a new Peso Checkbook, you may:

  • Logon to Citibank Online at www.citibank.com.ph.
  • Request through any Citibank ATM.
  • Call CitiPhone at 995 9999995 9999.
  • Visit any Citibank branch.

For customers with business/commercial accounts, please visit your Citibank branch to request for a new checkbook.

There are no changes on the cost of the checkbook. For the latest list of banking fees and services, please click on this link: https://www.citibank.com.ph/global_docs/pdf/feesbooklet_cna.pdf.

Yes, the original dishonored check will still be returned to the depositor by the presenting bank (the bank where check was deposited).

Under the new system, paid / honored checks will no longer be returned to the drawer / issuer. However, you may still request for a photocopy (image reproduction) of your negotiated check/s by calling CitiPhone
at +63 2 995 9999+63 2 995 9999 (Metro Manila) or +63 32 234 9999+63 32 234 9999 (Cebu). You will be charged a fee therefore, which is currently Php100 per check image copy.