Please be informed that pursuant to Republic Act (R.A) No. 9510 and its Implementing Rules and Regulation (IRR), creating the Credit Information Corporation (CIC) we are mandated to submit your basic credit data (as defined in R.A No. 9510 and its (IRR), as well as any regular updates or corrections thereof, to the (CIC) for consolidation and disclosure as may be authorized by the (CIC). Consequently, your basic credit data may thus be shared with other lenders authorized by the (CIC), and other credit reporting agencies duly accredited by the (CIC), for the purpose of establishing your creditworthiness.
For more information, you may visit www.creditinfo.gov.ph.
Please be guided with the new Philippine Clearing house ruling issuance dated
June 6, 2016, Memo Circular #3126
Effective July 1, 2017, PCH will no longer accept old format Checks. Except for Post-dated Checks which are warehoused by banks up to Dec. 31, 2016. PCHC will only accept and process Checks that comply with the New Check Design Standards and Specifications
Except for warehoused PDCs (Accepted and stamped until Dec 2016) old format checks to be sent for clearing starting July 1, 2017 shall be subject to penalty of Php250 per item to be collected by PCHC from the Presenting bank.
Kindly take note of the distinguished feature of the new check format.
The waiver portion stating the following:
“I/We allow the electronic clearing of this check and hereby waive the presentation for payment of this original to (Drawee Bank)”