FYI: BSP Circular 681

[basti08]

FYI lang... to whom it may concern.

Starting Jan 1, 2011. All banks as mandated by BSP Circular 681, will be implementing a (almost) same day clearing protocol. Unfunded cheques will be returned immediately the next banking day.
Fees and penalties may still apply. Mas mahigpit na. I got the gist of the memo but it's hard to explain, baka may ma-miss ako. For those concern, mas maige to ask your bank's personnel.

Just a friendly reminder sa mga Cheque users dito.

[jimnyeatworld]

that's good news. good as cash na ang checque. okey na okey sa business eto

[eikonbeta]

that's good news. good as cash na ang checque. okey na okey sa business eto

*jimnyeatworld - the way it was presented to us by our BM was that, we should be funding our cheques on the same date (in case tight tayo) coz we wont be given a chance to fund it the next day.

However, kung tayo naman ang receipient ng cheque and we deposit it in our account, it still goes thru the regular 3 day clearing (in cases that you have different banks with the issuer), basically walang effect sa depositor ang new ruling, but it denies the issuer the "window" to fund the cheques after the deposit date.

For me its going to be really tight, bantayan ng issuance & collectibles, mukang yung banks lang ang nag-benefit

[chrismarte]

meaning lahat pala ng bangko, kala ko BDO lang, BDO started to send letters as early as September pa.

http://www.bsp.gov.ph/regulations/re...type=1&id=2506

[CVT]

Everyone will have a greater respect for the personal cheque....

11.2K:bee:

[alwayz_yummy]

yup... atleast magagamit mo agad ang pera or malalaman agad kung talbog o hindi...

[basti08]

yup, kaso wala nang habol habol kung sakali makalimot ka mag pondo. Happened to me minsan. nakakainis mag penalty. hahaha

pero ngayon ata, if NS funds ka, bayad ka na lang ng penalty para di ma close account, pero returned cheque pa din sya.

[CVT]

Next, you can pay checques for regular purchases.....

11.3K:snow: