The Philippine Clearing House Corporation will implement Check Image Clearing System (CICS) starting middle of 2016, specifically in March 2016. In connection with this, we previously written an article entitled “Banks will no longer accept checks with erasure/alteration effective January 4, 2016” which is also a requirement in the implementation of the CICS.
What’s CICS and how will it speed up clearing of checks? Watch this video.
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