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May 16, 2024 TO : All Clearing Banks/Institutions RE : NEW CLEARING PARTICIPANTS/BRSTN REGISTER UPDATES 1. With reference to various request letters/notices received from the clearing participant banks, we enumerate hereunder the following updates to the PCHC clearing participant banks/BRSTN Register and Operating Parameter, viz: 1.1 New Clearing Participants BANK/BRANCH BRSTN ADDRESS Metro - Clark - Berthaphil 06026-025-9 Pavillon 18, Clark Center, Jose Abad Santos Avenue, Clark Freeport Zone, Pampanga BDO - SM City Caloocan 01053-703-9 G/F, Area Code 141 - 143, SM City Caloocan, Deparo Road, Brgy. 171 Zone 15, District 1, Bagumbong, Caloocan City BDO - Solaire - North EDSA 01053-705-5 B1-029 & B1-029B, Basement 1, Solaire Resort North, 1 Sola Drive, EDSA, Vertis North, Brgy. Bagong Pag-asa, Quezon City 1.2. Relocation/Change in Branch Name and/or Address BRSTN BANK/BRANCH NAME FROM TO 01004-522-0 BPI – Tandang Sora Visayas Quezon City No. 397 Tandang Sora Avenue, Avenue Barangay Culiat Quezon City 02004-049-3 BPI Cebu Outsourced CTU - CEB – 8F BPI Cebu Support Unit – Cebu Corporate Center Bldg., City Archbishop Reyes Avenue, Cebu City 01028-091-7 RCBC Roxas Blvd Business Ctr Parqal - Aseana City Business Ctr – – Pasay City Unit 109 to 111, G/F Parqal Building 8, Luz Drive, Aseana City, Paranaque City 01035-114-7 LBP Peza Taguig Energy Center 1.3. Inclusion of the following branches in the list of BIR AABs BANK BRANCH NAME BRSTN LBP - Monkayo 03035-024-1 LBP - San Fernando (Bukidnon) Agri-Hub 51035-005-9 2. Pursuant to CICS OM No. 17-004 dated 18 January 2017 the aforementioned updates will be implemented effective May 16, 2024. 3. For your information and guidance.

May 14, 2024 T O      :              All Clearing Banks/Institutions R E        :              MORATORIUM ON NON-ACCEPTANCE OF CHECKS WITH INCORRECT DATE FORMAT 1.      We have received numerous queries and concerns on the non-acceptance of Checks dated May 1, 2024 onwards where the issue date contains partition symbols other than the dash ("-") mark. 2.      As it appears that a significant number of clients/check issuers are still putting partition symbols (like "/" or "*" or any other mark) in between the numerical representations of the month, date, and the year in writing the date of issue, the directive of PCHC in its MC No. 3808 dated may 9, 2024 against acceptance (for clearing) of checks with issue dates bearing partition symbols is put on hold until June 30, 2024. 3.      Therefore, checks where the dates of issue include partition symbols other than the dash ("-") mark remain acceptable until June 30, 2024. This is to give ample time for participant banks to properly inform their respective clients of the acceptable date format and the only allowed partition. 4. It is to be noted that in its latest advisory (MC No. 3808), PCHC announced that effective May 16, 2024 onwards are covered by the following guideline: “A.2.1. Partition symbols (such as “/” or “ * ” or any other mark) should not appear between the numeric representation of the month and of the date and of  the year in the issue date of a Check; otherwise,  the Check is unacceptable.  There is already a dash symbol ‘-’ separating the MM DD YYYY boxes." 5.      It has been brought to PCHC's attention, however, that many check issuers are used to including partition symbols in the issue date because an older circular pertaining to the uniform interpretation of a check's issue date (circularized sometime in 2018; the New Check Design was introduced in 2019), which served as the basis of banks in issuing their advisories/instructions to clients in the writing of the date of issue, has shown the use of various types of partitions to separate the month, the date, and the year. As item A.2.1 of MC No. 3808 is at odds with said older circular, there is a need for some period of adjustment on the part of the clients in writing the prescribed format of the date of issue; hence, the deferment of the application of item A.2.1 of MC No. 3808. 6.  It is understood that implementation of Section 2.3 of MC No. 3808 (for banks to return a new design or an old format Check where the issue date is printed/written in a numeric format not in conformity with the required MM-DD-YYYY date format or not in accordance with any of the acceptable numeric variants as indicated in section A.2 of MC No. 3808) is likewise deferred. 7.      Please be guided accordingly.

May 13, 2024 T O      :              All Clearing Banks/Institutions R E        :              ADDITIONAL RETURN REASON CODE FOR INCORRECT ISSUE DATE FORMAT 1.      With the implementation of the New Check Design starting May 1, 2024, a number of clearing items were dishonored for being old format and/or not in the conditions enumerated by PCHC in its advisories to be exempted and acceptable for deposit/clearing. 2.      While there are appropriate reason codes available for old format checks that are not in the list of exemptions as well as for invalid or non-existent date, there is currently no available return reason code for “Inappropriate/Incorrect issue date format”. 3.      As such, effective May 16, 2024, PCHC shall deploy updates to the PBM’s Return Reason Table to include additional return reason code, to wit: 4.      Please be guided accordingly.

May 02, 2024 TO : All Clearing Banks/Institutions RE : 1. NEW CLEARING PARTICIPANTS/BRSTN REGISTER UPDATES 2. NOTICE FROM BANGKO KABAYAN, INC. (A PRIVATE DEVELOPMENT BANK) 1. With reference to various request letters/notices received from the clearing participant banks, we enumerate hereunder the following updates to the PCHC clearing participant banks/BRSTN Register and Operating Parameter, viz: 1.1. New Clearing Participants BANK/BRANCH BRSTN ADDRESS Asia United - Concepcion, Tarlac 22102-002-1 ORA Plaza Concepcion, 568 L Cortez San Nicolas Poblacion Concepcion, Tarlac BDO NB - Negros Occidental - Murcia 04118-007-3 G/F, Commercial Bldg., Mupjoda corner Rizal - Concepcion Sts., Brgy. Zone II, Murcia, Negros Occidental BDO NB - Pampanga - Macabebe 06118-010-5 G/F, Edificio Juanito Y Crispina Commercial Bldg., Macabebe -Masantol Road, Brgy. Sta. Cruz, Macabebe, Pampanga BDO NB - Leyte - Dulag 11118-008-4 Units 1 & 2, Dragon Oil Bldg., Brgy. Highway, Dulag, Leyte BDO NB - Quezon - San Antonio 14118-012-2 J.C. Wagan Ave., Poblacion, San Antonio, Quezon CARD SME - Naga City 07141-001-4 Unit #3, MMCN Building, Panganiban Drive, Naga City BKPDB - Dumaguete 20160-001-8 102 JAT Building, San Juan St., Poblacion 7, Dumaguete City, Negros Oriental BKPDB - San Carlos 71160-001-6 Door 4 Center Mall F.C. Ledesma Ave., Brgy. Palampas, San Carlos City, Negros Occidental 1.2. Relocation/Change in Branch Name and/or Address BRSTN BANK/BRANCH NAME FROM TO 01014-156-4 SBC – Antipolo Antipolo City M.L. Quezon Avenue Extension, San Roque, Antipolo City 10026-009-6 Metro CDO - Gaisano CM Recto – Cagayan de Oro Gaisano CM Cagayan de Oro City Recto – Ground Level, Gaisano City, Cagayan de Oro City 77118-003-9 BDO NB – Eastern Samar Eastern Samar G/F, Stalls 1 & 2, J & J Lifestyle - Dolores Hub, Real St., Brgy. 15 Lunang, Dolores, Eastern Samar 07122-007-1 PSBC Naga Magsaysay Pili 28122-001-0 PSBC –Olongapo City Olongapo City Ground Floor, A. Sia Building, #41 Gordon Ave. Brgy. Pagasa, Olongapo City 1.3. Inclusion of the following branches in the list of BIR AABs BANK BRANCH NAME BRSTN PBCOM - Legazpi 16011-001-8 1.4. Pursuant to CICS OM No. 17-004 dated 18 January 2017 the aforementioned updates will be implemented effective May 02, 2024. 2. Notice from Bangko Kabayan, Inc. (A Private 2. Development Bank): 2.1. In a letter dated April 19, 2024, Ms. Liza V. Mercado, EVP/Chief Finance Officer of Bangko Kabayan, Inc., relayed to PCHC the following advisories to all CICS Participants in line with the bank’s approved acquisition of First Agro- Industrial Rural Bank, Inc. (FairBank) and Progressive Bank, Inc. - A Rural Bank 2.1.1. Until further notice, Bangko Kabayan, Inc. shall continue the warehousing of post-dated checks made payable to Fair Bank and Progressive Bank, Inc. accepted by these acquired banks (for warehousing) prior to the effectivity of the merger. These PDCs when due shall be presented for clearing by Bangko Kabayan, Inc. as the acquiring bank. 2.1.2. Checks of acquired FairBank bearing Name and BRSTN of Unionbank of the Philippines (Bank 041) shall no longer be honored by Bangko Kabayan, Inc. starting May 2, 2024. When presented for clearing, shall be returned using the reason: Refer to Drawer/Issuer, Conduit Agreement Terminated. 3. For your information and guidance.

April 26, 2023   T O      :           All   Clearing Participant Banks/Institutions R E       :           DISHONORED ITEMS THAT ARE NOT QUALIFIED FOR RE-CLEARING              1.      We received reports from some CICS participants that there are dishonored items that are not eligible for re- clearing ( as indicated under the Return Reason Code Table* ) but are still being re-cleared in CICS which thus compels the Returning Drawee Bank to use inappropriate reason code just to be able to return such dishonored items.   * The Return Reason Code Table is provided under Section 7 of CICS OM No. 18-026 dated December 13, 2018.     2.      In the Return Reason Code Table, the CICS participants are guided as to the Return Reasons that allow for re- clearing.   3.      In general, a returned Check can be re-cleared once; however, there are cases where the Return Reasons for their dishonor disallow  their re-clearing, as indicated by the letter “N” corresponding to their listing in the Return Reason Code Table , as specified below:   Return Reason Code Description Re-clearing N = Not Allowed 3 Drawn against closed account N 4 Account is non-existent N 5 Payment thereof has been stopped –Funded N 6 Payment thereof has been stopped-Unfunded N 9 Stale-dated check N A Out-of-date N B Counterfeit check N C 3rd Presentment and subsequent dishonor N D Amount in words and in figures differ N G Validity restricted N H Deceased Depositor N I Previously negotiated/Cancelled check N L Refer to Drawer/Issuer: Merged bank/Conduit agreement terminated N R Refer to Drawer/Issuer: Old format check N S Duplicate check detected by the PBM N V With Alteration-date N W With Alteration-payee N X With Alteration-amount in figures N Y With Alteration-amount in words N Z With Alteration-signature N a With Alteration-account name N b With Alteration-account number N c With Alteration-check number N d With Alteration-prequalified MICR characters N k Bears forged signature of the drawer(s) N l Unauthorized drawer’s signature N m Signature differs N n Exceeds authority limit N p Payment Stopped-Funded-1 Thousand Pesos and below N q Payment Stopped-Unfunded-1 Thousand Pesos and below N r Amount in words and figures differ-1 Thousand Pesos and below N s Other technicalities-1 Thousand Pesos and below N u Indicated payee company or person includes a combined “Pay to cash” option, i.e. Payee Name/Cash, Payee Name or Cash N x Re-clearing of a check by a bank other than the original presenting bank N z Wrong account name N   4.      May we remind that it is the responsibility of the Presenting Bank to prevent the re-clearing of the foregoing items and one of the ways to avoid recurrence is by punching a hole on the MICR code line of the Physical Original Check (POC) prior to its handing over to the depositor.    5.      If by chance, such dishonored items get re-presented by the Presenting Bank on account of the absence of a punched hole/s , it shall be returned by the Drawee Bank using the reason:   Return Reason Code Description Transaction Code Re-clearing v Re-clearing of a non-representable dishonored item 24 N   6.      A penalty equivalent to the amount of the item multiplied by the average IBCL rate of the day or ₱1,000.00, whichever is higher, shall be imposed by the Drawee Bank against the Presenting Bank if this exception is committed.  The penalty shall be collected via the usual Charge Slip, the acceptance of which by the Presenting Bank shall be mandatory.   7.      To give ample time for information dissemination to all branches/operating units of the participants, the penalty provision of this operating memo shall take effect on June 01, 2023 .   8.      Please be guided accordingly.

To know more about the New Check Design (changes) and the Conditions that OLD FORMAT CHECKS can still be acceptable beyond the May 1, 2024 Implementation Date, click on "PUBLICATIONS" on this site and open the "NEW CHECK DESIGN IMPLEMENTATION" Folder.

April 16, 2024 TO : All Clearing Banks/Institutions RE : 1. NEW CLEARING PARTICIPANTS/BRSTN REGISTER UPDATES 2. NOTICE FROM CITIBANK 1. With reference to various request letters/notices received from the clearing participant banks, we enumerate hereunder the following updates to the PCHC clearing participant banks/BRSTN Register and Operating Parameter, viz: 1.1. New Clearing Participants BANK/BRANCH BRSTN ADDRESS Metro - Cebu-Chong Hua Medical Mall 02026-058-7 Chong Hua Medical Mall J. Llorente Street Capitol Site Pob. Cebu City PSBC - Balaoan 15122-003-0 Orallo Building, National Highway, Brgy. Antonino Poblacion, Balaoan, La Union 1.2. Relocation/Change in Branch Name and/or Address: BRSTN BANK/BRANCH NAME FROM TO 01004-008-9 BPI Ayala Avenue Ayala Paseo 01004-203-2 BPI Ayala Paseo Rufino Tower 21026-002-5 Metro Surigao Gaisano Capital Surigao - Luna– Km 4, Brgy Luna, Mall –Surigao City Surigao City, Surigao Del Norte 01062-173-8 East West – Visayas Ave. Quezon City G/F LKE Bldg. Visayas Avenue Brgy. Vasra Quezon City 01062-999-2 East West Check Processing Clearing & Check Processing – – Makati City 37F PBCOM Tower, 6795 Ayala Ave. Cor. V.A. Rufino, Makati City 24120-001-2 WDB – General Santos General Santos City Gaisano Mall of Gensan, Digos- Nakar Road, National Highway, Brgy. Lagao, General Santos City, South Cotabato 1.3. Pursuant to CICS OM No. 17-004 dated 18 January 2017, the aforementioned updates will be implemented effective April 16, 2024. 2. Notice from Citibank: In a letter dated April 15, 2024, Ms. Gay Viloria of Citibank informed that they received information from their clients that their Corporate Checks were rejected by select banks. Citibank would like to clarify that only some branches of Citibank were being deleted (Retail) and the bank continues to be a check clearing participant with two (2) of its branches still actively participating, to wit: BANK/BRANCH BRSTN Citibank - Taguig 01007-001-7 Citibank - Taguig (Formerly Cebu) 02007-001-0 3. For your information and guidance.

April 8, 2024 T O      :              All Clearing Banks/Institutions R E        :              IMPLEMENTATION OF THE NEW CHECK DESIGN EFFECTIVE MAY 1, 2024 1.      PCHC wishes to again remind that starting May 1, 2024, old format checks will no longer be accepted for clearing.  It may be recalled that in most of the Memos of PCHC about the changes in the Check Design Standards and Specifications that were issued starting as early as December 2018, the goals  behind the implementation of the new Check Design were always mentioned, to wit: 1.1.   To support automated processes (electronic capture of date, amount, and signature) in the preparation of outward Checks (deposits) for clearing and validation (i.e. automated signature verification) of incoming Checks (drawn against the bank); 1.2.   To standardize the writing of dates indicated by the drawer in issuing a check, for proper determination of the Check’s negotiability or non-negotiability (i.e. post-dated, current dated, stale-dated); 2.      In these issuances, PCHC likewise specified conditions within which Old Format Checks can still be acceptable for deposit even after the May 1, 2024 and they are: 2.1.   Post-Dated Checks (PDCs) accepted and stamped, “Warehoused” by banks prior to May 1, 2024; 2.2.   PDCs without “Warehoused” stamp but bearing printed Unique Identification Code (UIC) that indicates receipt by banks (for warehousing) prior to February 11, 2019 (issuance of OM No. 19-030); 2.3.   Manager’s/Cashier’s Check issued by the clearing banks bearing the “Waiver Statement” and features required prior to the issuance of OM No. 19-030 (Changes in the Standard Check Design Standards and Specifications); and 2.4.   Checks dated April 30, 2024 or earlier and presented for deposit or encashment prior to the 180th day from date of issue. 3.      In connection with the implementation of the new Check Design, PCHC would like to  point out that notwithstanding changes on the check layout and check writing procedure that are to be applied effective May 1, 2024, old format checks may still be acceptable for presentation by the Payee directly to the Drawee Bank for payment,  either by way of: 3.1.   encashment of  the old-format check over the counter,  or 3.2.   deposit of the old-format check  to  the Payee’s account maintained with the Drawee Bank (“on-us” deposit), subject to the internal policy of the Drawee Bank . 4.      It is to be noted that the implementation of the new Check Design among the clearing banks 4.1.   does not invalidate the negotiability of  old-format checks. 4.1.1.   Old-format checks retain their negotiability and thus remain eligible for payment by the Drawee Bank in the absence of defects on the checks and subject to the terms of the deposit agreement between the Drawee Bank and the Payee. 4.2.   affects only the acceptability of checks for clearing  but not its eligibility for payment by the Drawee Bank, as stated above. 4.2.1.   The restriction on their acceptability applies only when they are deposited or transacted with a Bank other than the Drawee Bank. 5.      We trust that all CICS participants have completed their respective awareness campaign and that respective customers are properly informed of this implementation. 6.      Please be guided accordingly.

PESONet MC No. 24-145 PDDTS MC No. 2024-100 March 22, 2024 T O : All Participant Banks/Institutions R E : THE UN-BASED BETTER THAN CASH ALLIANCE’S NEW TECHNICAL NOTE ON ENHANCING RECOURSE MECHANISMS 1. In compliance with BSP’s request, we are sharing with you the link to access the New Technical Note on Enhancing Recourse Mechanisms developed by the UN-based Better Than Cash Alliance (BTCA), to wit: https://www.betterthancash.org/alliance-reports/make-recourse-clear-quick-and-responsive 2. The material focuses on enhancing the mechanisms available to consumers for addressing issues related to digital payments and discusses the four pillars that characterize a successful recourse system: 2.1. Awareness and communication 2.2. Inclusive design for equitable gender access 2.3. Timely resolution, predictable processes 2.4. Accountability and user engagement 3. Furthermore, it is aligned with and supportive of the anticipated issuance of a related BSP Circular on consumer redress for transactions under the National Retail Payments System framework. 4. Thank you.

April 01, 2024 TO : All Clearing Banks/Institutions RE : NEW CLEARING PARTICIPANTS/BRSTN REGISTER UPDATES 1. With reference to various request letters/notices received from the clearing participant banks, we enumerate hereunder the following updates to the PCHC clearing participant banks/BRSTN Register and Operating Parameter, viz: 1.1 New Clearing Participants BANK/BRANCH BRSTN ADDRESS SBC - Ilagan 26014-005-6 Maharlika Highway, Calamagui 2nd, JCU Building, Ilagan City, Isabela 3300 LBP - DMW Branch Lite 01035-205-2 Ground Floor, Blas Ople Bldg., Ortigas Ave. cor EDSA, Mandaluyong City USB - Sindangan 50049-002-6 Mabini St., Brgy. Poblacion, Sindangan, Zamboanga del Norte Asia United - Malolos 13102-017-9 Andan Enterprise, 3598 McArthur Hi-way, Brgy. Tikay, Malolos City, McArthur Hi-way Bulacan CARD SME - Manaoag 05141-002-1 Milo St., Poblacion, Manaoag, Pangasinan CARD SME - Vigan City 32141-001-0 Quirino Blvd., Barangay V (Pob) Vigan City Camalig Bank - Masbate 37146-001-0 Tara St., Brgy. Pating, Masbate City City Office RBDI - Malita 03151-004-8 National Highway Poblacion, Malita, Davao Occidental RBDI - Kidapawan 54151-001-7 EDD Bldg., Quezon Boulevard Poblacion, Kidapawan City, North Cotabato RBDI - Antipas 54151-002-0 F. Cajelo St., Poblacion, Antipas North Cotabato BKPDB - Pototan 08160-003-4 Primitivo Ledesma Ward, Pototan, Iloilo 1.2. Relocation/Change in Branch Name and/or Address BRSTN BANK/BRANCH NAME FROM TO 19004-003-5 BPI – Nasugbu Nasugbu, Batangas JP Laurel St. Barangay 9 Nasugbu, Batangas 4231 41004-009-0 BPI – Ayala Westgrove Cavite Ayala Westgrove Retail Plaza, Heights South Blvd., Brgy. Inchican, Silang, Cavite 01010-146-5 CBC Greenbelt I – Makati City Ayala Avenue – G/F Noble Square, 6762 Ayala Ave., Makati City 01044-011-3 BOC NAIA – Pasay City Pasig C5 – 100 E. Rodriguez Jr. Avenue, C-5 Road, Brgy. Ugong,Pasig City 01053-044-7 BDO–SM Megamall A Mandaluyong City Unit Nos. 104-108, G/F, Mega Tower SM Megamall, Julia Vargas Ave. corner EDSA, Brgy. Wack- Wack, Mandaluyong City 01053-527-7 BDO – SM Megamall C Mandaluyong City LC 415a - c (B), 4/F, SM Megamall Bldg. B, Julia Vargas Ave. corner EDSA, Brgy. Wack-Wack, Mandaluyong City 01097-015-9 PBB – Elcano Manila 601 - 603 Elcano St. corner San Nicolas Street, Barangay 281, Manila 01097-037-9 PBB Adriatico - Malate – Malate, Remedios – G/F Unit G03, The Manila Royal Plaza Twin Towers, Remedios St., corner P. Guerrero St., Barangay 702, Malate, Manila 01097-058-6 PBB Better Living - Paranaque – Tomas Mapua – 721-723 Tomas Paranaque Mapua St., Sta. Cruz, Manila 07122-007-1 PSBC–Naga Magsaysay Camarines Sur Zone 4, New San Roque, Pili, Camarines Sur 26122-001-4 PSBC – Santiago City Isabela Marilyn 1949 Bldg., Centro West, Santiago City, Isabela 26122-010-8 PSBC – Solano Nueva Vizcaya Tam-an Corporate Bldg. Espino St. Poblacion South, Solano, Nueva Vizcaya 1.3. Deletion of the following branch/es BANK BRANCH NAME BRSTN Citibank - Greenhills 01007-002-0 Citibank - Makati (CSG) 01007-003-3 Citibank - Binondo 01007-004-6 Citibank - GCB - Alabang 01007-007-5 Citibank - GF - Alabang 01007-008-8 Citibank - Libis 01007-009-1 Citibank - Cebu 02007-002-3 3. For your information and guidance.