CICS MC 3594

06 February 2020

TO : All Clearing Banks/Institutions

RE : WRITING DATE ON CHECKS

1. As concerns have been raised on the ease with which additional two digits can be fraudulently added/appended

to “20” that is indicated as the year of Check issuance, we respectfully suggest to our Clearing Participants to

consider advising their respective Clients to always write the Year of their Check issuances in four (4) digits (YYYY)

for their protection.

PCHC is mindful of the apprehension pointed out by some quarters that simply writing “20” only for the year of

a Check opens up the Client’s account for fraudulent activity.

2. However, notwithstanding the foregoing suggestion and remarks, PCHC maintains that “Year 20” Checks remain

acceptable for clearing purposes , as provided in CICS OM 18-021 (Uniform Interpretation on Dates of Checks)

considering that -

(a) post-dated “Year 20” Checks might have already been issued and in the possession of creditors, suppliers,

lessors, sellers and other types of payees collecting payments on installments/periodic basis, and

(b) their non-acceptance for clearing could possibly bring about non-collection or delay in the collection of their

receivables thereby potentially providing basis for legal action against the non-accepting bank/s and PCHC.

3. We would also like to remind Clearing Participants of their liability in cases of presentation of items with Alteration

which includes change/s on the date of a Check.

4. This is a clarification and a reminder for everyone to be vigilant.

MC.3594.Writing Date on Checks.2-6-20

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