Dear Veterans Bank Clients,

Since 1 January 2011, Philippine Veterans Bank has been observing and strictly implementing the procedures embodied by BSP Circular 681 and as amended by BSP Circular 705.

Accordingly, all banks are required to return all insufficiently-funded checks through the Philippine Clearing House Center (PCHC) not later than 7:00AM of the following day from the date the checks were presented for drawing.

In view of such change, current account depositors are no longer able to fund their issued checks the following day as usual if the account balances are insufficient. We strongly encourage our current account holders to manage and ensure that issuance of checks are sufficient against account’s available balance.

Veterans Bank is currently implementing the following:

• Checks drawn against insufficient funds will be returned with corresponding penalties to your account
• Temporary overdrawings against demand deposit accounts is not allowed
• Drawing of funds against uncollected deposits (DAUD) is not allowed.

Please visit or contact your branch of account for more details or you may download the relevant BSP Circulars below:

Download BSP Circular 681 (PDF)
Download BSP Circular 705 (PDF)

Thank you.

Philippine Veterans Bank

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For any questions or clarifications, please call:
Mike Villa-Real
Vice-President
Corporate Communications and Marketing Services Dept.
Tel: 902-1670
Email: mcvillareal@veteransbank.com.ph