BSP PhilPaSS will be open today for settlement of clearing results notwithstanding suspension of government work and classes in all levels in the city of Manila.
Clearing Operation will resume today, October 17, 2017 (Tuesday) even with the announcement that work in government offices is still suspended due to the continued nationwide transport strike.
In connection with the PhilPaSS Advisory that it will be closed today, October 16, 2017 following the issuance of Memorandum Circular No. 28 s. 2017 by Malacañang, please be advised that PCHC is likewise calling off its netting operation on same date.
BSP PhilPaSS is open for normal business operations on Thursday, September 21, 2017. As such, PCHC will likewise observe regular processing.
While old format checks will no longer be acceptable for clearing by July 3, 2017 as cut-off for acceptance is set to June 30, 2017, the following however are still acceptable:
1. Post-Dated Old Format Checks accepted and warehoused by banks prior to January 2017
2. Old Format Checks originally presented on or before June 30, 2017 but subsequently dishonored (with re-presentable reason) and re-cleared/re-deposited after June 30, 2017.
3. Old Format CHARGE SLIP or SPECIAL CLEARING RECEIPT used by banks and PCHC in settlement of clearing discrepancies and charges.
4. CICS-compliant checks without pre-printed currency/transaction code (000) on the MICR code line are not old format thus acceptable for deposit/clearing. CICS-compliant checks are easily recognized/distinguished due to the presence of the waiver and authorization statement on the face of the check.
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