Search Results

April 08, 2025 T O : All Clearing Participant Banks/Institutions R E : SETTLEMENT OF CLEARING DISCREPANCIES (SECTION 26 OF CICS RR) 1. The electronic Payment Information (EPI) transmitted by the Clearing Participants will serve as the basis for determining the clearing results, which shall be posted to the respective Demand Deposit Account (DDA) of the participants with the BSP. 2. Clearing Participants are responsible for ensuring that the EPI transmitted to PCHC accurately reflects the demands drawn against other participants. In cases where a clearing account is incorrectly debited or inconvenienced due to an error caused by another participant, the erring participant shall be penalized and required to compensate the affected party. 2.1. General Procedure As a general rule, the participant responsible for a clearing discrepancy must take immediate corrective action upon detecting or receiving notification of the discrepancy. 2.1.1. Discrepancy notification should be through the fastest available means of communication e.g. phone call, sms, email or other means of conveying the alert/notification. 2.1.2. Settlement of the discrepancy shall be via Charge Slip signed by an Authorized Signatory of the collecting bank, detailing the transaction and the nature of discrepancy. It is essential for clearing participants to designate authorized officers and provide their contact information to ensure that arrangements for correcting clearing errors can be promptly facilitated. 2.2. Typical Errors that cause discrepancies 2.2.1. EPI amount is greater than the amount shown on the image of the Clearing Item 2.2.2. EPI amount is less than the amount shown on the image of the Clearing Item 2.2.3. Mis-cleared Item (Misread or Inaccurate Correction of the BRSTN field leading to the misdirection of a RCI to a bank other than the drawee bank) 2.2.4. Duplicate CICS Item or Set of CICS Items (Regular or Return) 2.2.5. Error/s or Omission/s on electronically transmitted EPI (Misread or Inaccurate Correction in either of the Check Number, BRSTN, or Account Number leading to erroneous reporting of a false duplicate). 2.3. Settlement Procedure Discrepancy Operational Procedure Settlement Penalty Receiving Bank Sender Bank Process 1. EPI Amount is Greater than the Actual Amount of the Check as shown in the Image. · Inform the sender Bank of the error no later than the next clearing day. · Collect applicable penalty from sender bank via Charge Slip. · Adjust Client’s Account covering amount of overage. · Receive and log the information reported by receiving bank · Accept Charge Slip representing Amount of Discrepancy and another for penalty. · Receiving Bank shall settle the Amount of Discrepancy by sending a Charge Slip against the sender bank to recover overage. · Amount of Discrepancy multiplied by the IBCL Reference Rate of the day or Php100.00 minimum per day, whichever is higher. 2. EPI Amount is Less than the Actual Amount of the Check as shown in the Image. · Inform the sender bank of the error not later than the next clearing day. · Collect applicable penalty from sender bank via Charge Slip. · Adjust client’s account covering amount of shortage. · Receive and log the information as reported by receiving bank · Accept Charge Slip representing Amount of Discrepancy and another for penalty. · The sender bank shall settle the Amount of discrepancy by sending a Charge Slip against the receiving bank to recover amount of deficiency. · Fixed handling fee of Php100.00 per item. 3. Miscleared RCI · Return Miscleared RCI and inform the sender bank no later than 9:00 AM of the next clearing day. · Collect applicable penalty from sender bank via Charge Slip · Receive and log information as reported by the receiving bank. · Request (if not yet done) the receiving bank to return the misdirected item in the available clearing session. · Accept Charge Slip representing Amount of the Misclearred RCI and another for penalty. · Receiving bank shall immediately return misdirected RCI in the available clearing session to the sender bank. · Sender bank, re-clear the RCI, indicating the correct drawee BRSTN. · Amount of Miscleared RCI multiplied by the IBCL Reference Rate for the day or Php100.00 minimum per day, whichever is higher. 4. Duplicate CICS Item/ Set of Items · Inform the sender bank about the duplicate RCI/set of RCIs not later than 9:00 AM of next clearing day. · Return Item/s immediately on available clearing session and reverse duplicate posting to client’s account. · Collect applicable penalty from sender bank via Charge Slip. · Receive and log information as reported by the receiving bank and confirm by referring to PCHC Duplicate Reports. · Accept Charge Slip representing Amount of the duplicate RCI/s and another for penalty where applicable. · Reverse deposit account if previously paid/negotiated by same or different Presenting Banks. · Both sender and receiving banks shall validate duplicate transaction/s by referring to PCHC Duplicate Reports and verify via Item Enquiry on the Web Portal to ascertain proper disposition of duplicate item/s. · No penalty if duplicate transaction involves two different Presenting Banks and none of the duplicate transactions were ever paid before. · Php100.00 per item if duplicate transaction/s were sent by same Presenting Bank on same clearing day. · Php1,000.00 per item if sender bank is one and the same and duplicate transaction is a renegotiation of already paid/cleared RCI/s. 5. Errors and Omissions on EPI of a CICS Item (RCI or Return) on any of the following fields: Check Number, Account Number of Drawer (RCI), & Account Number of Depositor (Returns) · Collect applicable Penalty Charge from the sender bank · Accept Charge Slip representing Penalty Charge from the receiving bank. · No settlement adjustment required. · Fixed amount of Php100.00 per item. 3. This memo supersedes OM No. 17-008 dated January 17, 2017. 4. Please be guided accordingly.

April 08, 2025 TO : All Clearing Participant Banks/Institutions RE : REVISED SCHEDULE OF BANK-TO-BANK PENALTIES AND CHARGES FOR CLEARING HOUSE RULES VIOLATIONS 1. Enumerated below are the updated list of Bank-to-Bank Penalties and other Charges under the Revised Check Image Clearing System (CICS), to wit: Description Penalty/Charges Reference Checks w/o UIC or Bank Guarantee Stamp ₱100.00 per item Section 2.3 of OM No. 17-006 Checks with Unreadable BRSTN on the UIC or Bank Guarantee Stamp ₱50.00 per item Section 2.4 of OM No. 17-006 Checks w/o the 2nd Presentment Stamp or Re-clearing UIC ₱200.00 per item Section 23.2 of the Revised CICS RR Special Clearing of Returned Items Handling Fee ₱1,000.00 per presentation Section 6 of OM No. 25-053 3rd Presentation and Dishonor of an Item ₱1,000.00 per day or amount of item multiplied by the average IBCL rate of the day, whichever is higher. Section 24.3 of the CICS RR Re-clearing of a Non-representable Dishonored Item ₱1,000.00 per day or amount of item multiplied by the average IBCL rate of the day, whichever is higher. Section 6 of OM No. 23-042 Re-clearing of a Check by a Bank Other than the Original Presenting Bank ₱1,000.00 per day or amount of item multiplied by the average IBCL rate of the day, whichever is higher. CHOM No. 340 ICL Amount Greater than the Actual Amount of Check ₱100.00 per item or amount of item multiplied by average IBCL rate of the day, whichever is higher. Section 2.3 of OM No. 25-057 ICL Amount Less than the Actual Amount of Check Fixed ₱100.00 per item Section 2.3 of OM No. 25-057 Miscleared Regular Clearing Item ₱100.00 per day or amount of item multiplied by average IBCL rate of the day, whichever is higher. Section 2.3 of OM No. 25-057 Duplicate Items ₱100 per day or amount of item multiplied by IBCL rate of the day, whichever is higher. Section 2.3 of OM No. 25-057 Service Charge on Returned Checks · Credit of Presenting Bank - ₱1,000.00 · Credit of Drawee Bank - ₱1,000.00 · Non-remittance of ₱1,000.00 to the Presenting Bank subject to penalty of ₱100.00 per day, plus the unremitted service charge. ₱2,000.00 per Returned Check Section 27.2 of the Revised CICS RR Post-dated/Stale-dated/Out-of-Date or Missing Drawer’s Signature/s, and other Technically Defective Checks ₱100.00 per item or amount of item multiplied by IBCL rate of the day, whichever is higher. Section 27.4 of the Revised CICS RR Previously Negotiated/Cancelled Check ₱1,000.00 per day or amount of item multiplied by IBCL rate of the day, whichever is higher. Section 27.4.1 of the Revised CICS RR Additional Penalty for DAIF/DAUD returns against the Drawer ₱200.00 per day for every ₱40,000.00 Amount of Check or a fraction thereof. Section 27.6 of CICS RR Errors and Omissions in the Electronic Payment Information (EPI) ₱100.00 per item Section 2.3 of OM No. 25-057 Reward for discovery of Clearing Fraud 10% of Check’s face amount but not to exceed ₱20,000.00 Section 2.2.3.2 of OM No. 17-009 Failure to tag BIR or BOC Checks ₱100.00 per item on 1st presentation ₱1,000.00 per item on 2nd presentation (re-clearing) ₱1,000.00 per item for Untagged Check sent by Non-AAB Section 2.2.3.2 of OM No. 17-009 Failure to provide the Physical Original Check to the Drawee Bank upon its request for allowable reasons ₱1,000.00 per item payable to PCHC for violation of Section 12 of CICS RR Section 10.1 of OM No. 24-050 2. Should you need further clarification, feel free to call our Service Help Desk at 8537-2700 (look for Hector Lasaleta or Anthony Manongas). 3. This memo supersedes CICS OM No. 17-011 dated January 20, 2017.

March 31, 2026 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 PBCOM - Butuan 30011-001-4 VPH Realty Corp. Bldg., J.C. Aquino Ave., Brgy. Bayanihan, Butuan City SBC - Muntinlupa 01014-239-8 G/F, PEDRO PATDU BLDG, 35 B National Road, Brgy. Putatan, Muntinlupa, 1772 Metro Manila SBC - Cebu - Banilad 02014-023-8 Space # 6, 7 & 8, Miranza Center, Gov. Cuenco Avenue, Brgy. Banilad, Banilad Road, Cebu City SBC - Balanga City Highway 06014-017-5 NMT Bldg., Roman Superhighway, Brgy. Tenejero, Balanga City, Bataan SBC - Daet 36014-001-1 Justo Lukban St., Daet, Camarines Norte SBC - Tanza 41014-013-6 Antero Soriano Hiway, Brgy. Daang Amaya I, Tanza, Cavite PSBC - Quirino, Isabela 26122-023-4 Barangay Luna, Quirino, Isabela CARD SME - Iligan City 18141-001-4 GF Bldg 3 Luna Street, Saray - Tibanga, Iligan City, Lanao Del Norte 1.2. Relocation/Change in Branch Name and/or Address BRSTN BANK/BRANCH NAME FROM TO 20004-001-9 BPI Dumaguete-Dumaguete City Dumaguete South Road – Real Street, Calindagan, Dumaguete City 33011-001-3 PBCOM–Tagbilaran Tagbilaran City Castecelo Building J.S. Torralba St. corner Celestino Gallares St., Tagbilaran City, Bohol 01022-045-6 Maybank Aseana–Paranaque City LTC – G/F Legaspi Towers 300, Roxas Blvd., cor. Pablo Ocampo St., Malate, Manila, 1004 01026-393-4 METRO Ayala Triangle–Makati City AIA Tower – AIA Tower, 8767 Paseo de Roxas, Makati City 01035-174-9 LBP Greenhills Ortigas Avenue Greenhills - Wilson 01044-037-5 BOC – Banawe Quezon City G/F EU Tower Building, #30 Quezon Avenue, Dona Josefa, Quezon City 1.3 Deletion of the following branches BANK BRANCH NAME BRSTN RBC - Trade Services Division 01107-036-2 1.4 Inclusion of the following branches in the list of BIR AABs BANK BRANCH NAME BRSTN LBP - Pagudpud Branch Lite 17035-005-9 2. Pursuant to CICS OM No. 17-004 dated 18 January 2017, the aforementioned updates will be implemented effective at 9:00 AM, April 01, 2026. 3. For your information and guidance.

March 27, 2026 T O : All PESONet Participating Institutions R E : DOWNTIME ADVISORY – Scheduled PESONet Database Maintenance on April 2, 2026 1. Please be advised that PCHC will conduct database maintenance activities for PESONet to ensure continued performance stability and reliability. 2. The scheduled maintenance window is as follows: Date : April 02, 2026 (Holy Thursday) Time : 9:00 AM – 12:00 Noon Duration : Approximately 3 hours 3. During this period, PESONet services will be temporarily unavailable . All participating institutions are advised to make the necessary preparations in their respective systems and operations to accommodate this scheduled downtime. 4. PCHC appreciates your continued support and cooperation as we undertake these activities to further enhance system stability and service quality. 5. Please be guided accordingly.

March 23, 2026 T O : All PESONet Participating Institutions R E : API Security Implementation In PESONET 1. As part of PCHC’s continuing efforts to enhance system security, please be advised that an API security solution will be implemented to strengthen the management and monitoring of all API traffic within PESONet. 2. The implementation is expected to be transparent to all participants. However, participating institutions are advised that a new server certificate from AWS will be presented during the TLS handshake process. Accordingly, banks must ensure that their SSL/TLS libraries, middleware, and runtime environments (e.g., Java, OS trust stores, and security appliances) are updated and capable of validating certificates issued under the AWS certificate trust chain. 3. Participating institutions must likewise ensure that the production API URL https://api-pesonet20.pchc.com.ph is whitelisted in their respective applications, firewalls and network security devices to allow traffic to pass through seamlessly. PCHC strongly recommends DNS‑based whitelisting using the fully Qualified Domain Name (FQDN), as the underlying Public IP addresses may change without prior notice. Moreover, IP allowlisting is not considered a strong security control, as it relies on network location rather than verifiable identity, increases operational and security risk in dynamic environments, and is therefore not suitable as a primary control in accordance with our security policy and industry best practices. 4. In connection with this activity, PCHC has likewise configured and deployed the same API security solution in the PESONet UAT environment (https://api￾pesonet20.pchcdev.com) to give participating institutions sufficient opportunity to validate their respective systems prior to production implementation. 5. The new API security solution shall be deployed in production at the end-of-day of Friday, March 27, 2026. 6. Participant institutions are requested to coordinate with their respective network administrators to ensure that all necessary configurations are completed prior to the implementation date. 7. For any concerns or inquiries regarding this scheduled implementation, the following PCHC officers may be contacted: Name Email Tel no Johndale Regalado johndaleregalado@pchc.com.ph 8537-2708 James Mathias Pante jamespante@pchc.com.ph 8537-2709 Raymond Angeles raymondangeles@pchc.com.ph 8537-2722 Maxi Torrecampo maxitorrecampo@pchc.com.ph 8537-2710 Ley Julian leyjulian@pchc.com.ph 8537-2713 8. Your full cooperation in implementing this update is greatly appreciated and will help ensure the continued secure and efficient operation of PESONet. 9. Please be guided accordingly.

March 19, 2026 T O : All PDDTS Participating Institutions R E : BRIEFING ON THE COMPLETION OF PDDTS USER INTERFACE ENHANCEMENT 1. PCHC has recently completed several enhancements to the Philippine Domestic Dollar Transfer System (PDDTS) Front-End Application, undertaken in response to feedback gathered from the 2024 PDDTS/PvP Participant Satisfaction Survey. 2. The survey, commissioned by the Bankers Association of the Philippines (BAP) Operations Committee (OpsCom) and conducted in late 2024, collected comments and suggestions from PDDTS participants covering various aspects of the system, including the PDDTS User Interface, system and API enhancements, as well as updates to governance, business rules, and operating guidelines. 3. In response to these inputs, PCHC has prioritized enhancements to the PDDTS Front-End aimed at improving system usability, navigation, reporting, validation, and workflow within the PDDTS/PvP platform, including the following: a. Editing of transactions prior to authorization b. Simplified UI screens and navigation c. Advanced filters and enhanced report generation d. Expanded report modules and availability of historical reports e. “Save Template” feature for manual entries f. BIC validation and lookup upon entry. 4. In preparation for the inspection, testing, and rollout of these enhancements, PCHC will conduct a briefing via Zoom on 25 March 2026 at 10:00am to orient PDDTS participants on the completed enhancements, the User Acceptance Testing (UAT) activities, and the corresponding rollout process. 5. Each participating institution may send at least three (3) representatives, preferably from the Operations, Information Technology, and Business units. 6. Participating institutions are requested to send the names and email addresses of their representatives to Ms. Monet Paguirigan at monetpaguirigan@pchc.com.ph no later than 24 March 2026. 7. The Zoom meeting details shall be sent separately to the registered participants. 8. We look forward to your continued support and cooperation.

March 9, 2026 T O : All Clearing Banks/Institutions R E : Activation of the Web-Based CICS FES Maker-Checker Functionality 1. PCHC continually enhances its systems and operational controls to further strengthen security and safeguard the integrity of clearing operations. 2. In line with this objective, PCHC will activate the Maker-Checker Module in the Web￾based CICS Frontend System (FES). This module is an existing system feature that introduces a dual-authorization workflow whereby transactions initiated by a designated “maker” in the FES are subject to validation and approval by a designated “checker” prior to completion. 3. The activation of this feature adds an additional control layer at the FES, is reinforcing existing control points, strengthening accountability in transaction processing, and further mitigating operational and insider-risk exposures through a dual authorization workflow. 4. To facilitate a smooth transition, the module will first be activated in the User Acceptance Testing (UAT) environment. PCHC will conduct a UAT for all system users from 16 March to 27 March 2026 to allow participating banks to experience, assess, and validate the operational changes resulting from the activation of the maker￾checker workflow. 5. PCHC will provide the following to participating institutions via email: • UAT environment access details • User credentials • Updated CICS FES user guide • Test scripts • UAT sign-off form to confirm system readiness 6. All accomplished sign-off forms must be submitted on or before 31 March 2026 via philclear@pchc.com.ph . 7. For clarifications, inquiries or concerns, participants may contact any of the following: Contact Person Email Telephone Number Ruben Conseja rubenconseja@pchc.com.ph 8537-2711 Royette Delos Reyes royettedlreyes@pchc.com.ph 8537-2707 Maxi Torrecampo maxitorrecampo@pchc.com.ph 8537-2710 Ley Julian leyjulian@pchc.com.ph 8537-2713 8. For information and guidance.

March 2, 2026 T O : All Clearing Banks/Institutions R E : SUSPENSION OF BANKING OPERATIONS IN DAVAO CITY (Clearing Region 03) 1. We received a copy of Dabaw City Bankers Association, Inc. Resolution No. 2026-002, informing us of the suspension of banking operations in Davao City on March 16, 2026, pursuant to Proclamation No. 1174, which declared the 89th Araw ng Dabaw a Special (Non-Working) Day. 2. In line with the suspension of banking operations in Davao City, there will be no outward clearing operations on the said date, except for the processing of returns, if any. 3. For information and guidance.

February 27, 2026 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 CBC - Tacurong City 74010-001-1 GF RCA Building, National Highway near cor. Jose Abad Santos St., Brgy. Poblacion, Tacurong City CBS - Cadiz 04112-006-2 Unit 3, 4 & 5, RJPS III Building, No. 29 Magsaysay St, Cadiz City, Negros Occidental CBS - La Carlota 04112-007-5 Units A - D, Gurrea corner Burgos St., La Carlota City, Negros Occidental CBS - Guihulngan 20112-002-2 S. Villegas Street, National Highway corner Sikatuna, Guihulngan, Negros Oriental CBS - Calapan City 38112-001-0 R. King Commercial Bldg. Roxas Drive, Brgy. Nacoco, Calapan City, Oriental Mindoro CBS - Valencia 51112-001-3 Tamay Lang Business Triangle Building, Hagkol Sayre Highway, Valencia City CBS -San Francisco 57112-001-1 Roxas St., Purok 2, Barangay 4, San Francisco, Agusan del Sur CBS - Ipil 60112-001-7 GFS 9, Gaisano Grand Mall Ipil, Purok Banab, Brgy. Veterans Village, Ipil, Zamboanga Sibugay CBS - San Jose Antique 69112-001-4 Aml Building 1, Cor. Dalipe Atabay, San Jose De Buenavista, Antique CBS - San Jose Occidental 73112-001-3 Labangan Poblacion, San Jose, Occidental Mindoro CBS - Isulan 74112-001-6 JCB Building, Magbanua St., Corner National Highway, Kalawag I, Isulan, Sultan Kudarat BDO NB - Cebu - San Fernando 02118-021-3 G/F, VIG Hardware Bldg., National Highway, Purok 7 - Orchid 1, Upper North Poblacion, San Fernando, Cebu BDO NB - Pangasinan-Natividad 05118-018-6 G/F, Natividad Mall, San Narciso St., Poblacion East, Natividad, Pangasinan BDO NB - Iloilo - Ajuy 08118-030-5 G/F, MMR Bldg., Real St., Brgy. Poblacion, Ajuy, Iloilo BDO NB - Benguet - Tublay 12118-010-0 Kilo, Caponga, Tublay, Benguet BDO NB - Negros Oriental - 20118-013-0 G/F, Units 1 - 5, Public Market, Brgy. South Poblacion, Valencia Valencia, Negros Oriental BDO NB - Cagayan - Enrile 23118-014-2 Santiago - Tuguegarao Road, Brgy. II, Enrile, Cagayan BDO NB - Apayao - Conner 23118-015-5 G/F, Commercial Bldg., Purok 1, Sitio Cubet, Brgy. Malama, Conner, Apayao BDO NB - Ilocos Sur - Bantay 32118-007-8 Quirino Blvd., Brgy. 5, Bantay, Ilocos Sur BDO NB - Ilocos Sur - Sta. Maria 32118-008-1 National Highway, Brgy. Maynganay Sur, Sta. Maria, Ilocos Sur BDO NB - Palawan - Sofronio 35118-011-6 Sofronio Española Commercial Bldg., National Highway,   Espanola Brgy. Pulot Center, Sofronio Española, Palawan CARD SME - Koronadal City 55141-001-3 Odi Street Zone III, (Pob.) 9506, City of Koronadal (Capital), South Cotabato 1.2 Relocation/Change in Branch Name and/or Address BRSTN BANK/BRANCH NAME FROM TO 03004-004-3 BPI BPI Exp Davao-McArthur–Davao City Davao NCCC Mall Ma-a – NCCC Mall, Mac Arthur Highway cor. Ma-a Road Davao City 8000 03004-027-6 BPI – Davao Mintal Davao City G/F Vista Mall Davao, Bukidnon Road, Brgy. Sto. Nino, Tugbok District, Davao City 8000 01119-024-2 SBA Leviste – Makati City Valero – 106 Valero St., Salcedo Village, Makati City 01145-019-9 TBPI Angono – Angono, Rizal Ortigas Extension Business Center – Gusali 88 Ortigas Extension Brgy. San Juan Cainta, Rizal 1.3 Deletion of the following branches BANK BRANCH NAME BRSTN RCBC - SB - Visayas Avenue 01060-029-6 1.4 Inclusion of the following branches in the list of BIR AABs BANK BRANCH NAME BRSTN LBP - Initao 10035-013-9 LBP - Tanjay Branch Lite 20035-008-4 LBP - Paranas Samar 67035-002-5 2. Pursuant to CICS OM No. 17-004 dated 18 January 2017, the aforementioned updates will be implemented effective at 9:00 AM, March 02, 2026. 3. For your information and guidance.

February 26, 2026 T O : All Clearing Banks/Institutions R E : CLARIFICATION ON NEGOTIABILITY LIMITATION AND EXEMPTIONS APPLICABLE TO MANAGER’S CHECKS 1. In view of the increasing number of inquiries on the treatment of stale-dated checks and the applicability of negotiability limitations, this Circular reiterates the relevant rules and clarifies the exemptions applicable to Manager’s Checks, for the guidance of all participant banks A. Ordinary Checks 1. Period for Presentment Ordinary checks may be presented for deposit or clearing within 179 days from the date of issue, subject to the depository bank’s cut-off time for acceptance. This cut￾off may be earlier than the CICS clearing cut-off of 4:30 PM. 2. Stale-Dated Checks Checks presented beyond 179 days from the date of issue are considered stale￾dated, technically defective, and must not be accepted for deposit or clearing. 3. Return of Inadvertently Paid Stale-Dated Checks If a stale-dated check is inadvertently accepted and paid by the drawee bank, it may still be returned to the presenting bank upon a verified complaint by the issuer, provided the return is made within 180 days from the date of clearing. • Such returns shall be settled through a charge slip. • Acceptance by the presenting bank is mandatory. B. Manager’s Checks Participant banks are reminded that Manager’s Checks are exempt from the limitations applicable to ordinary checks, as follows: 1. Negotiability Period Manager’s Checks are generally not subject to stale-dating and may be negotiated even beyond 180 days from the date of issue, UNLESS, the Manager’s Check itself expressly provides a validity period or states that it is valid only up to a specified date. In cases where a Manager’s Check bears an explicit validity restriction or expiry date, such restriction shall prevail, and the exemption from stale dating shall not apply beyond the stated validity period. 2. New Check Design Implementation Notwithstanding the mandatory implementation of the new check design effective 1 May 2024, the following remain acceptable for deposit and clearing: o Manager’s Checks issued in the old format (e.g., without individual date boxes or peso sign inside the amount box); and o Post-dated ordinary checks that were warehoused prior to the implementation date. Rationale This special treatment is accorded to Manager’s Checks because they are issued by a participant bank and are guaranteed to be funded upon issuance. Moreover, their validity can be readily verified by the depository bank with the drawee bank. 2. For information and guidance. We trust in everyone’s understanding and continued cooperation