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  1. Hi Nor, I haven’t received yet your response, if the check will be cleared on Wednesday if you deposited it Saturday before clearing time.

    anyway, it’s already Wedensday. Perhaps I’ll just check it later.


  2. Hi josey, usually banks that are open on a Saturday just accepts the check, and then deposit the check the following Monday. If it’s a local check, it will clear on the following Wed.

  3. Hi Nora, Im fresh grad and new at freelancing and I got my payment from my employer through a check in BDO. I just want to know, when will this check be expired or stale dated… since I dont have the required ID yet, it was dated on jan 8 2015

  4. Hi Jett, see your check if it has a “VALID UNTIL ___”. If it does not have a validity date, your check will be valid for 6 months. I hope you get your ID soon. It’s easy to get a postal ID, although it costs around 500 pesos, depending on the post office. You need a barangay certificate to get a postal ID. And ask BDO if they accept postal ID; some banks no longer accept postal ID.

  5. How much is the interest if my check bounced? is there interest every day? If the check worth 2695.35 bounced march 10 because I lacked maintaining balance, how much is the interest by april 30?

  6. Hi christian, you should check your account balance through atm to see if your account is still active. If a check bounces, usually the penalty is 2,000 pesos, and there’s an additional penalty of 200 pesos per day until the account is funded. There’s also a 300-peso penalty for accounts not maintained for 2 consecutive months.
    To whom did you issue your 2695.35 check? Did he/she not complain that your check bounced?

  7. Hi charm, you need to register your account first at BDO’s website, then after registering, you are given a code that you will use to validate your registration at a BDO atm. Go to bdo.com.ph, click ebanking, then see Online Banking and Click ‘Go’

  8. Hi Jasmine, yes, the issuance is legal. But your check will be good only if the company is reliable, and that their checking account will be sufficiently funded on time.

  9. Hi Nora, I recently opened a checking account but to be honest I dont know how to use it. I find your site or blog very helpful so I decided to shoot you my questions.

    Can I use this to pay my mortgage and my utility bills? If so, say my due date will be on the 30th of the month and I issue the check today and I deposit the funds on the 30th will that be ok? Will my bank not charge me any fee? When will the payee encash the check? Is this the PDC thing?

  10. Hi Jay, yes, you can use checks to pay your bills and other payables. Note that there are Bayad Center branches that don’t accept checks (the bigger ones accept checks). Most banks and companies accept checks for payments. Some banks don’t accept checks for certain bills.
    About date of check and funding: You should fund your check prior to or on the early morning of your check date. For bill payment, the date of your check should be the day you pay your bill or day/s prior. Bill payment collectors do not accept post-dated checks (PDCs). When paying by check, always pay 3 or more business days before your bill’s due date, so that your check will clear on or before your due date — this is specially true for credit cards that impose penalties on late payments.
    About your question: Your due date is the 30th, and you issue your check today and your date of check is today — You should fund your check today because your date of check is today, and your payee is expected to encash your check today, even if the due date is days later.
    About PDCs: PDCs are usually required by financing and lending companies and banks for the installment payments for a car, a housing loan or for monthly condo or house rentals. These are usually issued in sets of 6 checks to 12 checks or 24 checks. The dates of PDCs are future dates, for example, Dec 25, 2015; Jan 25, 2016; Feb 25, 2016, and so on. For PDCs, you should fund every check prior to the date of the check (or early morning of the date of check). If the date of check is a holiday, Saturday or Sunday, fund your check the business day or the Friday before.
    We have tips about checks here: Tips for First-time Owners of Checking Accounts

  11. I just acquired a checking which comes with the whole bank package will I have to pay if I don’t use it at all?

  12. Hi peter, no penalty if you don’t use it, but you will be charged 300 to 500 pesos a month if you don’t maintain the minimum maintaining balance. You should also put your checkbook in a secure place.

  13. Hi again. This is not about checking accounts but merely putting money where it yields and grows for the future. Is time deposit the least time consuming when it comes to paperworks? Even if low in interest to start short term eventually going to a long term is how I was advised.am not getting any younger s putting it in a bank would do me good.thanks.

  14. Hi Peter, yes, it doesn’t take a long time to put money in time deposit. Just bring your money and your ID to the bank and fill up and sign about 2 or 3 documents. Choose auto-renew (6 months or 1 year auto-renew) so your money continues to be in time deposit in case you forget to renew it. The 5-year-term MP2 savings scheme of Pag-ibig is also good — it gives higher interest compared to time deposit. Save monthly 200 pesos with P1 (a requirement for MP2), then save monthly 500 to 1k or more with MP2.

  15. Thanks. You’ve become my financial adviser. Another thing is that am already 47 and not yet a member of sss, pag I big, etc. The money o have came from my guardian who passed away recently that I would really like to be safe up until the day I need it most. I’ve no family of my own but has a grandnephew who’s 5y.o. please suggest as not keep my money in one basket.

  16. Hi Mrs Nora, I availed a house and lot through pag ibig financing pero sa ngayon, equity pa lang ang binabayaran ko. It’s actually my 1st month sa equity. They are requiring me to give 24 signed blank checks which is part of their requirements. I saw many people na okay naman ang naging result like nakapag moved in sila and the likes. Pero ayaw ng asawa ko na mag issue ako ng signed blank check dahil risky daw yun. Gusto ko magtanong sa mga legal counsel. Do you have recomendations? Thanks in advance! 🙂

  17. Hi Celina, your husband is right. Why black checks? It’s my first time to hear about issuing blank checks for equity payments sa developer. A good developer should not be asking for blank checks from buyers. Kung ang concern nila is clear yong pagkasulat ng amount, ask them kung anong style ba gusto nila? Ang instructions lang naman ng PCHC is walang erasures, walang smudges, clear writing at yong amount in digits ay inside the box for amount. Ask your agent. You’re the buyer. They will do what you want about the check, or you will refund your reservation fee. You can tell them you were precisely instructed by your husband to sign only when the date, payee name and amount are all printed. All these 3 fields are important. The payee name should be the developer (company name). Write the dates correctly. 🙂

  18. Hello Ms Nora, thank you for your reply. Actually first time din namin na nakaexperience nun. To clarify, ang pinapaissue po nilang 24 signed blank checks ay yung para sa pag ibig. Yung equity po ay may amount naman and all. Gusto ko po sana tanungin kung may mga legal counsel ba akong puedeng makausap to stop what they are doing na pagkuha ng signed blank cheks. I believe na legal naman ang business kasi marami nang nakatayo at nakatira sa subd. Isa pa, ung mga kasabay ko office nila ay for orientation sa take out and ung iba nakatira na dun.

  19. Hi Celina, based on what you’ve said, I guess naninigurado lang siguro yong developer about your ability to complete documents required by Pag-ibig. Sa akin, kung ang sinasabi ng developer na blank check ay amount and date lang ang wala, pero isusulat yong Pag-ibig Fund sa Payee line, at crossed check, at meron silang ibibigay na receipt for the cheques with note like “24 cheques for Pag-ibig housing loan monthly amortization”, puede pa siguro, kasi nga hindi pa nila alam yong exact monthly amortization amount at yong exact amortization due dates. If you like, tawagan mo na lang ang Pag-ibig housing department about this: Housing Trunkline: (02) 422-3000 connecting all departments, puede sigurong Servicing Dept, or Member Relations Dept or Developer Assisted Dept

  20. Hi mike, if there are no 2 diagonal lines on the top left corner, or if there’s no “FOR PAYEE’S ACCOUNT ONLY” on the check, yes, you can encash it on the check date. If the said marks are there, deposit the check into your account on the cheque date.

  21. even i encash it in pangasinan? because the cheque is manila branch. can i encash it to pangasinan branch on the date the cheque issued?

  22. Hi mike, yes, puede, the bank will charge you for interbranch encashment. But if the branch in Pangasinan is strict, it might require you to deposit the cheque to your account kahit uncrossed check yan.

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