New rules on dates of checks set
Starting May 1, issuers of bank checks should write the date of issuance in numerical format—with the first two digits representing the month of the year, the second two digits the day of the month, and the last four digits the year.
Although there are a few exceptions involving manager’s and cashier’s checks, most bank checks not dated in numerical format will be deemed unacceptable, the Philippine Clearing House Corp. (PCHC) said in Memo Circular No. 3738, Jan. 17.
The memo said the new format was intended to establish a standard for writing the issue date on checks. The PCHC is a private firm co-owned by all commercial banks enlisted as members of the Bankers Association of the Philippines. —RONNEL W. DOMINGO
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