Please be informed that in keeping with market trends, we are adjusting the interest rate on our regular savings account as follows: click here
Effectivity Date of New Policy on Insufficiently- Funded Check Moved to January 24, 2011
The Bangko Sentral ng Pilipinas' new policy on insufficiently-funded checks will take effect January 24, 2011 instead of January 1, 2011 as earlier announced.
The BSP moved the date to give the banks and the banking public more time to prepare for the implementation of this new policy.
For your information and guidance. Thank you.
What is BSP Circular 681?
BSP Circular 681 mandates all banks to return checks that are DRAWN AGAINST UNCLEARED DEPOSITS (DAUD) and DRAWN AGAINST INSUFFICIENT FUNDS (DAIF), no later than 7:30 a.m. of the next clearing day. This new policy will take effect on January 24, 2011.
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