Effective April 1, 2025, checks deposited through GoTyme Bank’s Mobile Check Deposit feature must follow a new format in compliance with the Philippine Clearing House Corporation (PCHC) Memo Circular No. 3855.
Read the PCHC Memo HERE.
FAQs
- What is PCHC Memo Circular No. 3855 about?
PCHC Memo Circular No. 3855 mandates the use of a new standard check format for all banks in the Philippines with a Mobile Check Deposit (MCD) feature starting April 1, 2025. - When will GoTyme Bank implement the new check format?
To encourage early adoption, GoTyme Bank has started accepting checks in the new format. However, the bank will solely accept the new check format beginning April 1, 2025. - What are the changes in the new check format?
Changes made are as follows:- On the front of the check:
- “GoTyme Bank” / Payee’s GoTyme Account Number written above the Payee Name.
- On the back of the check:
- Date of mobile check deposit
- Payee’s signature
- Refer to the image for a visual guide on these changes.
- On the front of the check:
- Can I still use my checks in the current format after April 1, 2025?
No. Checks that follow the current format will no longer be accepted for deposit or encashment after this date. - What happens if I issue a check in the current format after the deadline?
Checks in the current format will be automatically rejected and returned. To avoid payment delays, make sure to follow the new format. - Are post-dated checks (PDCs) in the current format still valid?
No. PDCs in the current format dated beyond April 1, 2025, will not be honored. - What is the last date for clearing checks in the old format?
The last date for clearing checks in the current format is March 31, 2025. After this date, only checks in the new format will be accepted. - Why are these changes to the check format being implemented?
The new format enhances security and improves processing efficiency, aligning with industry-wide updates mandated by PCHC. - How can I ensure my mobile check deposit is accepted?
Make sure to follow the new check format requirements. Be sure to also use good lighting and a clear background when taking photos. - Who can I contact for more information?
You can reach out to GoTyme Bank’s customer support via the app or any of our official channels.