BSP Circular No. 681 Revised Check Clearing Rules

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BSP CIRCULAR NO. 681, S. OF 2010: BSP Circular No. 681 Revised Check Clearing Rules

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Title Source: Supreme Court: BSP Circular No. 681 Revised Check Clearing Rules

Law: Bsp Circular No. 681, S. Of 2010

Decision Date: Feb 8, 2010

BSP Circular No. 681, S. of 2010, revises check clearing and settlement processes, prohibiting temporary overdrawings and drawings against uncollected deposits while imposing strict penalties on banks for violations and establishing clear guidelines for handling checks without sufficient funds.

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