|New back format for Philippines bank checks|
I received a letter from my bank a few months ago about a new back format for checks. I did not paid much attention to that letter until I saw an announcement at our condominium’s management office that they will only accept checks with the old back format until August 31, 2011.
I still have two booklets of checks with the old back format so I called my bank to confirm until when can I use the checks with the old back format and she confirmed that those checks will be acceptable until August 31 only although I can still use it after that date but it might incur some charges from the clearing house … I didn’t really understand her explanation regarding the charges and the clearing house issue but one thing is sure, it’s time to request for a check booklet with a new back format. I asked if I can swap my unused check booklet but she said that it is not possible so I have no choice but to order for a new check booklet and pay 165.00 pesos for each booklet. Haaay banks … they always end up gaining for all these changes.
So if you issue checks for payments, be sure that you have now checks with the new back format.