NEW DESIGN SERIES (NDS) (1985-PRESENT)

When Martial Law was lifted in 1981, the Central Bank started to print and mint an entirely new series of Philippine
currency notes and coins which are contemporary and forward looking, adopting the latest trend of anti-counterfeiting features.
On June 12, 1985, the BSP issued the New Design Series starting with the 5-piso banknote with the face of Emilio Aguinaldo on
the obverse side. The following month, the 10-piso banknote with the face of Apolinario Mabini on the obverse side was issued.
In early 1986, a new 20-piso banknote appeared. After the 1986 People Power Revolution and the new 1987 Constitution was
promulgated, the 500-piso banknote with the face of Benigno Aquino, Jr. on the obverse side was introduced. In 1991, the BSP
issued for the first time a 1000-piso banknote, containing on the obverse side the composite portraits of Jose Abad Santos,
Josefa Llanes Escoda and Vicente Lim.

The second major political upheaval called EDSA II in 2001 was depicted on the reverse side of the 200-piso showing
Gloria Macapagal-Arroyo being sworn into office at the EDSA Shrine. She is the first president whose image has been included
in a banknote while in office. On the obverse side of the banknote is the portrait of his father, Diosdado Macapagal. The 200-piso
NDS which was issued in 2002, was the last denomination to be added in the series.

In the NDS, the countrys social and political development and economic achievements were highlighted. The design
was made more distinctly Pilipino through the adoption of ethnic designs at the background of all the denominations instead of
the embellishing lacework patterns from western culture that were depicted in the earlier series. The seal of the Central Bank of
the Philippines in the obverse and the size of the Pilipino series had been retained.

After the passage of the New Central Bank Act of 1993, the New Design Series bears the new seal of the Bangko
Sentral ng Pilipinas. In the latter part of 1997, the revised 10-piso banknote, with portraits of Apolinario Mabini and Andres
Bonifacio on the obverse side, was issued.

In 1998, the 100,000-piso Centennial banknote, measuring 8.5"x14", accredited by the Guinness Book of World
Records as the world's largest legal tender note was issued in a limited quantity of 1000 pieces to commemorate the celebration
of the Centennial of Philippine Independence. Along with this was the launching of the 2000-piso Centennial Note, measuring
216 mm x 133 mm and bearing the signature of President Joseph E. Estrada, on December 1, 1998. Also, in 1998, the year of
printing was added at the bottom of the denomination value located at the upper left corner of the obverse.

In 1999, the names of the signatories on the bills were added starting with banknotes featuring the signature of
President Joseph Estrada. During the Estrada Administration, the practice in use since the Commonwealth, of reproducing the
signature of the President of the Philippines over the legend "President of the Philippines" was abandoned in favor of explicitly
stating the president's name.

Meanwhile, in the latter part of 1990s, colored reproduction machines became available in commercial quantity and
have become a big threat to the integrity of the currency. As a result, in 2001, BSP decided to enhance the security features of
the of 1000, 500, and 100-piso banknotes, including the 200-piso which was issued in 2002, by incorporating the iridescent band
and the windowed security thread to combat counterfeiting made out of colored copiers.

SALIENT FEATURES COMMON TO ALL TYPES OF NOTES

Paper genuine is printed on a very special kind of paper which is rough when you run your fingers thru it. It does not
glow under the ultraviolet light. During manufacture, the watermark, security fibers, security threads and iridescent
band are included.

Watermark is the silhouette of the portrait appearing on the face of the note. Sharp details of the light and shadow
effect can be seen when the note is viewed against the light.

Security fibers embedded red and blue visible fibers are scattered at random on both surfaces and can readily
picked off by means of any pointed instrument.

Embedded security thread a special thread implanted vertically off center of the note during manufacture. It
appears a broken line for 5s 10s 20s and continuous line for 50s up.

Windowed security thread a narrow security thread vertically located like stitches at the face of the note with clear
text of the numerical value in repeated sequence and changes color from magenta to green, green to magenta
depending on the angle of the view.

Iridescent band a wide glistening gold vertical stripe with the numerical value printed in series

Printing the registry of the different printed features are well defined, sharp and distinct. The fingers can readily feel
the main prints on the front and back relatively new notes brought about by the measurable thickness of ink deposited
on the paper which gives the print an embossed effect.

Portrait shadings are formed by the fine lines that give the portrait a characteristic facial expression which extremely
difficult to replicate.

Serial number composed of 1 to 2 prefix and 6or 7 digits which are clearly printed. The letters and numerals are
uniform in size and thickness, evenly spaced and well aligned and glow under the ultra violet light.

Background/lacework design the background design are made up of multi-colored and well defined lines. The
lacework designs are composed of line, web like crisscrossing lines which are continuous and traceable even at the
intersection.

Vignette the lines and dashes composing a vignette are fine distinct and sharp. The varying color tone gives a vivid
look to the picture that makes it stand out of the paper.

Color genuine notes have multi colored background with one predominant color for each denomination. The shifting
of color in the background design is gradual.

Value panel numerals found in the four corners in front and back of the note denoting the denomination.

Add-on special features

Fluorescent printing is the visible numerical value that appears off center of the face of the note and glows when
exposed to ultraviolet light.

Micro-printing are the minute and finely printed words BSP/CBP located at the face or back of the note that are
clearly printed and readable.

Concealed value (500) it is located at the lower left corner of the face of the note and is recognizable when the note
is held at eye level.

Optically variable ink a special characteristic of the 1000 bill which changes color from green to blue and blue to
green when the note is held at different angles.

Code of the blind an embossed design on the upper left corner of the 200 bills particularly to assist optically
handicapped person.

NEW GENERATION CURRENCY SERIES (NGS) (2010-PRESENT)

In 2009, the Bangko Sentral ng Pilipinas announced that it launched a massive redesign for current banknotes and
coins to further enhance security features and improve durability. The members of the numismatic committee include Bangko
Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo Chairman of the National Historical Institute.
The new banknote design features famous Filipinos and iconic natural wonders. Philippine national symbols will be
depicted on coins. To provide a smooth transition from the New Design Series to New Generation Currency series, BSP
purposely retained some NDS features, such as, the size, predominant colors and the featured personalities in the NGC, except
for the portrait of President Corazon Aquino which is an added portrait on the 500-piso note.
The BSP started releasing the initial batch of new banknotes on December 16, 2010. The NGC will co-exist with the
NDS approximately until 2014, while BSP is building up its capability to print and produce NGC banknotes with the latest anticounterfeiting security features incorporated through advanced technologies, benchmarked worldwide. Color plays an important
part in the design, accentuating key elements such as value numerals, seals and note edges. The inclusion of large intaglio
printed numbers on the front differentiates each denomination to provide assistance for the visually impaired.

Twenty Piso Banknote

Obverse: President Manuel L. Quezon; Filipino as National Language (1935);
Malacaan Palace; Seal of the Republic of the Philippines; New BSP Seal
Reverse: Banaue Rice Terraces (UNESCO World Heritage Site); Palm Civet
(Paradoxurus hermaphroditus philippinensis), Weave design from the Cordilleras
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread
President Manuel L. Quezon (19 August 1978 - 1 August 1940)
Popularly known as the "Father of the National Language," Manuel L. Quezon is the second president of the Philippines and the
first to be elected through a national election. He worked tirelessly to gain recognition for the Philippines as an independent
nation. During his term, a national language for the Philippines was adopted and Filipino women were given the right to vote.
Quezon is the first Filipino president to hold office in Malacaan Palace by the Pasig River in Manila.
The Banaue Rice Terraces in Northern Philippines were carved out of the mountains of the Cotrdilleras around 2,000
years ago by Filipino ancestors using simpLe tools. Breathtaking for its high altitude, steep slopes and area covered, the Banaue
Rice Terraces showcases a mastery of engineering that is appreciated to the present. It has been declared a World Heritage Site
by the United Nations.
The palm civets in the Cordilleras are famous for producing one of the best and expensive coffee varieties in the world
- Coffee Alamid. The coffee beans that they eat, partially digest, and released as droppings are prized for their flavor and aroma.

Fifty Piso Banknote

Obverse: President Sergio Osmea; First National Assembly 1907; Leyte Landing;
Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Taal Lake; Maliputo (Caranx ignobilis); embroidery design handcrafted in Batangas province
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread
President Sergio Osmea (9 September 1878 - 19 October 1961) is the president who led the Philippines during the
critical stage nearing the end of World War II and in the transition as an independent nation. He was vice president when
President Manuel Quezon passed away and was with the liberation forces led by US General Douglas McArthur in 1944, an
event immortalized at a landmark monument known as the "Leyte Landing" at Palo beach in central Philippines. It was during his
term when the Philippines joined the United Nations, the International Monetary Fund, and the International Bank for
Reconstruction and Development (World Bank)
Taal Lake in Batangas is the deepest freshwater lake in the Philippines. It is also host to active Taal Volcano, the world's
smallest volcano.
The Giant Trevally, locally known as Maliputo, a delicious milky fish, thrives only in the waters of the lake. Taal Lake is
also the only home of tawilis, the world's only freshwater sardine.

One Hundred Piso Banknote

Obverse: President Manuel A. Roxas; Central Bank of the Philippines (1949); Inauguration of the Third Republic (4 July 1946);
Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Mayon Volcano; Whale Shark (Rhincodon typus); Indigenous textile from the Bicol Region
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread
President Manuel A. Roxas (1 January 1892 - 15 April 1948) took his oath of office on 4 July 1946 as the first president
of the Third Philippine Republic, when the United States recognized the independence of the Republic of the Philippines. Having
inherited a nation in the ruins of World War II, he set in motion the crafting of the first Master Economic Plan, the first known in
developing Asia, which started the country on the road to reconstruction and development. He thus earned the title "Nation
Builder." A Philippine Bar topnotcher, he had a lifelong career as public servant. He was 27 when he became Governor of the
Province of Capiz, the country's youngest, and was Speaker of the House for 12 consecutive years. One of his priorities was the
drafting of a charter for a central bank, which he deemed as a step towards sovereignty. However, he did not complete his term
due to a fatal heart attack. Shortly after his death, his successor President Elpidio Quirino signed Republic Act 265 or the Central
Bank Act in June 1948. On 3 January 1949, the Central Bank of the Philippines opened for business.
The Bicol Region is famous for majestic Mayon Volcano, the country's most active which has a near perfect cone. It is
in Legazpi City, Albay.

The "butanding" or whale shark, the world's largest living fish, is the main attraction in Donsol, Sorsogon. These gentle
giants regularly visit the waters of Sorsogon to mate and to feed on plankton abundant in Donsol River.

Two Hundred Piso Banknote

Obverse: President Diosdado P. Macapagal; EDSA People Power II (January 2001); Independence House; Barasoain Church;
Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Bohol Chocolate Hills; Tarsier (Tarsius syrichta); handcrafted design from the Visayas in Central Philippines
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread
President Diosdado P. Macapagal (28 September 1910 - 21 April 1997) is known for his land reform and socioeconomic agenda that started the process of economic liberalization and the shift to a market economy in the Philippines. He
moved the celebration of Philippine independence from 4 July 1946 to 12 June 1898 when General Emilio Aguinaldo declared
independence from Spanish colonial rule and, in the process, made the Philippines Asia's first republic. Barasoain Church in
Malolos Bulacan was the venue for the inauguration of the First Philippine Republic. Aguinaldo's home in Cavite is now called the
Independence House.
President Diosdado Macapagal is the father of President Gloria Macapagal-Arroyo who assumed office as a result of
the EDSA People Power II in January 2001.
The famous Chocolate Hills of Bohol are verdant green mounds during the rainy season that turn chocolate brown at
the end of the dry season. Numbering about 1,268 hills, they rise to 30 to 50 meters.

The Philippine tarsier is described as one of the world's smallest primates; it can fit comfortably in one's hands. It can
be found in Bohol and in Samar, Leyte, and Mindanao.

Five Hundred Peso Banknote

Obverse: Icons of Democracy - President Corazon C. Aquino, Senator Benigno Aquino Jr. EDSA People Power I February 1986;
Benigno S. Aquino, Jr. Monument; Seal of the President; New BSP Seal
Reverse: Puerto Princesa Subterranean River National Park (UNESCO World Heritage Site); Blue-naped Parrot (Tanygnathus
lucionensis), woven cloth from Southern Philippines
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread,
(8) optically variable device
President Corazon C. Aquino (25 January 1933 - 1 August 2009), the 11th President of the Philippines, is the first
woman head of state. She assumed office following the historic non-violent People Power Revolution that toppled a dictatorship.
Her major accomplishments were the restoration of democracy and the crafting of a new Constitution that limited presidential
powers, established a bicameral legislature, and gave strong emphasis to civil liberties and human rights. She was married to
former
Senator Benigno Aquino Jr. (27 November 1932 - 21 August 1983), stood against President Ferdinand Marcos who
had declared martial law. His seven-year imprisonment under the dictatorship and assassination upon his return from exile
galvanized the Filipinos to unite and oppose the dictatorship. This culminated in the peaceful People Power Revolution. The
bronze memorial is in his honor in Makati City is a popular venue for holding mass movements.

The funeral processions of both President Corazon Aquino and Senator Benigno Aquino were an outpouring of national
grief. Millions of people stayed on the roads for hours to pay their respects and to express their deep gratitude to the couple who
dedicated their lives for the country and the Filipinos. On 30 June 2010, their only son Benigno S. Aquino III became the
country's 15th President.
The eight-kilometer Puerto Princesa Subterranean River National Park in Palawan winds through a cave that has
major formations of staltactites and stalagmites that fascinate and mesmerize. Declared as a UNESCO World Heritage Site, the
pleace has a full mountain-to-the-sea ecosystem that is also home to rare animals such as the Philippine cockatoo and the
Palawan mouse deer.
The rare Blue-naped Parrot thrives in the lush forests of Palawan and Mindoro. Parrots are known to be friendly,
gentle, and intelligent.

One Thousand Piso Banknote

Obverse: War Heroes - Josefa Llanes Escoda, Vicente P. Lim, and Jose Abad Santos; Centennial of Philippine Independence
(1998); Medal of Honor; Seal of the Republic of the Philippines; and the New BSP Seal
Reverse: Tubbataha Reefs Natural Park (UNESCO World Heritage Site); South Sea Pearl (Pinctada maxima), Tinalak or Ikatdyed abaca woven in Mindanao in Southern Philippines
Security Features: (1) embossed prints, (2) serial number, (3) security fibers,
(4) watermark, (5) see-through mark, (6) concealed value, (7) security thread,
(8) optically variable device, (9) optically variable ink
Josefa Llanes Escoda (20 September 1898-January 1945) is a social worker, educator, advocate of women's right to
vote; founder of the Girl Scouts of the Philippines and newspaper editor. She showed extraordinary courage by continuing to help
prisoners of war during the Japanese Occupation. For this, she and her husband Antonio were killed before the end of the war.
Brigadier General Vicente P. Lim (24 February 1888 - 31 December 1944) was the first Filipino West Point graduate
and rose to the rank of Chief of Staff of the Philippine Army. Initially wounded in action, he directed guerrilla activities from his
hospital bed during the World War II. He was eventually captured and died in the hands of the Japanese. For his military service,
he received the Legion of Merit and the Purple Heart.

Jose Abad Santos (19 February 1886 - 2 May 1942) was the Chief Justice of the Philippine Supreme Court. He
completed his Bachelor of Laws degree in Northwestern University and Masters of Laws from Georgetown University as a
scholar. He was executed for refusing to cooperate with the Japanese forces. Informed of his impending execution, he told his
son who had been captured with him: "It is a rare opportunity to die for one's country."
The 130,000 hectare Tubattaha Reef Marine Park in Sulu Sea is one of the Philippines' oldest ecosystems. It is home
to a great diversity of marine life: whales, dolphins, sharks, and turtles are among the key species found here. The reef
ecosystem supports over 350 species of coral and almost 500 species of fish. Declared as a UNESCO World Heritage Site, it
plays a key role in the reproduction, dispersal, and colonization by marine organisms in the whole Sulu Sea system and in
helping support fisheries outside its boundaries.
South Sea Pearls - Sulu Sea is part of the South Seas, which are the natural habitat of oysters that produce the largest
pearls grown in the world - the Pinctada maxima. The colors of these treasures from the sea range from white to silver and
golden.

2000 bills
2,000 peso (dalawang libong piso) bill: This blue, yellow and purple bill was created for the 1898 - 1998 centennial. On the
front side, President Joseph Estrada is seen taking his oath of office at the historical Barasoain Church. On the reverse side,
President Fidel Ramos waves the Philippine flag from the same balcony where General Emilio Aguinaldo first displayed the
original Philippine flag. The Philippine Centennial logo is also visible. The bill is larger than the usual size at 216 mm by 133 mm.
Obverse: President Joseph Estrada being sworn into office in front of the Barasoain Church in Malolos, Bulacan with his wife Loi
Estrada, scroll with the Malolos Constitution, seal of the Central Bank
Reverse: Re-enactment of the proclamation of Philippine Independence at the Aguinaldo Shrine in Kawit, Cavite during the
Philippine Centennial Celebration with President Fidel Ramos and his wife Amelita Ramos, Philippine Centennial Commission
logo
Length: 216mm
Width:133mm
Composition: 20% abaca, 80% cotton fiber
Pieces Issued: 300,000
Text
Obverse: "Ang panunumpa sa tungkulin ni Pangulong Joseph E. Estrada sa Simbahan ng Barasoain, Malolos, Bulacan, noong
ika-30 ng Hunyo, 1998", "Simbahan ng Barasoain, Lunduan ng Unang Demokratikong Republika sa Asya", "Malolos Constitution
1898", "Republika ng Pilipinas", "Dalawang Libong Piso", "Ang salaping ito ay bayarin ng Bangko Sentral at pananagutan ng
Republika ng Pilipinas"

Obverse: "Pagdiriwang ng Sentenaryo ng Kalayaan sa Kawit, Cavite na pinangunahan ni Pangulong Fidel V. Ramos nnong ika12 ng Hunyo, 1998", "Sentenaryong Salapi", "Dalawang Libong Piso"
The security features of this banknote include a 3-dimensional cylinder mould-made portrait watermark of the two presidents,
and the years 1898-1998, iridescent band, color-shift windowed security thread, latent image, and perfect see-through register.

100,000 bills
100,000 peso (isandaang libong piso) bill: The gold-coloured 100,000 peso bill was created for the 1898 - 1998
centennial and the Philippine Centennial logo can be seen on both side of the bill. Only 1,000 bills were created and each bill
contains 21 security codes to prevent counterfeiting. This bill is larger than the usual size at 355.6 mm and 215.9 mm. The front
of the bill illustrates the Cry of Pugadlawin led by Andres Bonifacio, marking the beginning of the revolution for independence
against Spain. The reverse side is the same as the reverse side of the older five peso bill. From the balcony of his house,
General Emilio Aguinaldo displays the Philippine flag to the crowd below and proclaims independence from Spain.
The 100,000 peso bill is currently listed by Guinness World Records as the largest legal tender although the bill was meant to be
a collector's item rather than to be used.

IF YOU SUSPECT A COUNTERFEIT NOTE

Do not return it to the passer.
Delay the passer by some excuse, if possible, without risking
harm.
Observe and record the passers appearance and that of his/her
companion/s.
Note the license plate number and make of the passers car.
Place the note in a protective envelope.

FUNCTIONS OF MONEY
As a medium of exchange
Money facilitates exchange in the sense that when goods and services are converted into money, the owner finds it
much easier to buy other goods and services he could not otherwise be able to produce or render himself. Thus, exchange of
goods and services is done indirectly with the use of money as a medium or as a means
As a standard of value
Money facilitates the measure of the relative values of goods and services.
The money price of each commodity automatically compares the relative values of such goods and services as they are traded

As a store of value
Money can be kept for future use. The value of money can be stored for future use by saving and by investing
As a standard of deferred payment
Money serves to measure the extent of the obligations of borrowers or the claims of creditors. Money enables people
to buy on credit. Goods and services can be obtained at the present time in exchange on deferred payment than on cash basis

CHARACTERISTICS OF GOOD MONEY

General acceptability
This refers to the creditors/sellers willingness to accept money in the settlement of his claims/exchange of his goods
or services. A good money should be acceptable to everybody living in a specific territory
Stability of value
This refers to moneys purchasing power maintained to a fairly constant level for a reasonable long period of time to
allow sufficient level of economic development.
Durability
This refers to the quality of money to withstand the normal wear and tear when used in any transaction.
Portability
This refers to the quality of being transported from one place to another with ease for the purpose of settling any kind
of transaction
Cognizability
This is the ability to be easily recognized, determined and distinguished from other types of money especially from the
counterfeit money
Divisibility
Money must be capable of being divided into smaller denominations without impairing or destroying its value. The unit
of account is divided into smaller denominations to enable traders to settle any size of obligations or collect claims arising from
various transactions
Homogeneity
This refers to the uniformity of money of the same denominations as to the materials used, size, shape, weight, design,
color and value
Convertibility
This is the quality of a currency to be converted or exchanged into other freely convertible currencies
Elasticity of supply
This refers to the quality of money to respond to the needs of the economy when its supply is arbitrarily changed by the
monetary authorities

Guideline/Reference Exchange Rate, Unit and Symbol

COUNTRY

UNIT

SYMBOL

EURO

U.S DOLLAR

PHIL. PESO

USD
JPY
GBP

0.919118
0.007466
1.414154

1.000000
0.007466
1.538600

44.690000
0.363000
68.760000

CONVERTIBLE CURRENCIES WITH BANGKO SENTRAL

UNITED STATES
JAPAN
UNITED KINGDOM

DOLLAR
YEN
POUND

HONGKONG
SWITZERLAND
CANADA
SINGAPORE
AUSTRALIA
BAHRAIN
KUWAIT
SAUDI ARABIA
BRUNEI
INDONESIA
THAILAND
UNITED ARAB EMIRATES
CHINA
KOREA
EUROPEAN MONETARY UNION

DOLLAR
FRANC
DOLLAR
DOLLAR
DOLLAR
DINAR
DINAR
RIAL
DOLLAR
RUPIAH
BAHT
DIRHAM
YUAN
WON
EURO

HKD
CHF
CAD
SGD
AUD
BHD
KWD
SAR
BND
IDR
THB
AED
CNY
KRW
EUR

0.118565
0.964852
0.739435
0.681029
0.711392
2.437914

0.128999
1.049759
0.804505
0.740960
0.773994
2.652450

5.765000
46.913700
35.953300
33.113500
34.589800
118.538000

0.245098
0.678516
0.000070
0.027274
0.250236
0.148149
0.000832
1.000000

0.266667
0.738225
0.000076
0.029674
0.272257
1.161186
0.000905
1.088000

11.917300
32.991300
0.003400
1.326100
12.167200
7.203400
0.040400
48.622700

ARS
BRL
DKK
IND
MYR
MXN
NZD
NOK
PKR
ZAR
SEK
SYP
TWD
VEB

0.102518
0.291506
0.134162
0.014394
0.253480
0.060064
0.664727
0.118602
0.009017
0.076301
0.108535
0.004240
0.030001
0.146258

0.111540
0.317158
0.145968
0.015661
0.275786
0.065350
0.723223
0.129039
0.009811
0.083015
0.118086
0.004613
0.032641
0.159129

4.984700
14.173800
6.523300
0.699900
12.324900
2.920500
32.320800
5.766800
0.438500
3.709900
5.277300
0.206200
1.458700
7.111500

OTHERS (NOT CONVERTIBLE WITH BSP)

ARGENTINA
BRAZIL
DENMARK
INDIA
MALAYSIA
MEXICO
NEW ZEALAND
NORWAY
PAKISTAN
SOUTH AFRICA
SWEDEN
SYRIA
TAIWAN
VENEZUELA

PESO
REAL
KRONER
RUPEE
RINGGIT
NEW PESO
DOLLAR
KRONER
RUPEE
RAND
KRONER
POUND
NT DOLLAR
BOLIVAR

BSP Treasury Department

As of 05/28/2015 12:04pm

PROMISSORY NOTE is a written promise by a person called the maker, to another party, the payee to pay the definite sum of
money at a certain future time. Elements of a promissory note are: it is a promise to pay; definite sum of money; and the future
date.
ENDOSEMENT is the signature of the payee on the back of the negotiable instrument.
CHECK is a written order drawn by a depositor, the drawer, upon a bank, the drawee, to pay on demand or at a future
determinable time sum of money to order or bearer, the payee.
Length: 7 3/32 inches (178 2 mm)
Height: 3 3/32 inches (89 2 mm)

XXXX-XXXX-XX

chk
xxxxxx

Account Name

R/T No.
XXXXX
Date___________________

Pay to the
order of_____________________________________________________________________

P______________________

Pesos______________________________________________________________________________________________
LANDBANK
G. Araneta Branch
Unit G., White Hasco Condominium
G. Araneta cor. Bayani St., Quezon City

_________________

_______________

000123456::00123::456':000012345678

*MICR (Magnetic Ink Character Recognition) to facilitate the processing of checks.

Check serial number; Account number; Branch code (routing number); Transaction code; Amount
FIVE BASIC ITEMS ARE ON ITS FACE. NAMELY:

The DATE, the AMOUNT, the DRAWER, the DRAWEE and the PAYEE.
The amount is usually stated both in figures and words. In case if discrepancy, the sum identified in WORDS
shall be honored.
The DRAWER is the person or entity that issued the check directing the drawee to pay the payee named
therein.
The DRAWEE is the bank who shall pay the party.
The PAYEE is the party entitled to receive payment.

KINDS OF CHECKS Length: 7 3/32 inches (178 2 mm) / Height: 3 3/32 inches (89 2 mm)

OPEN CHECK. This is either payable to order or bearer.

CROSSED CHECK. This is determined by the presence of two parallel lines on the upper left corner.
ON-US CHECK. A depositor's check that is presented for payment at the same financial institution that carries the

account on which the check is written. A financial institution would use the term to refer to checks drawn on accounts it
holds and presented for payment at its counter .
MANAGERS CHECK or CASHIERS CHECK. An order drawn by a bank for the same bank, signed by the manager or
a cashier directing the bank to pay the person designated by the depositor or the depositor himself , definite sum of
money on demand or future determinable time.
TRAVELLERS CHECK. This is a promise to pay on demand.
OVERDRAFT CHECK. This is known as no sufficient fund check.
BOUNCING CHECK. This is an instrument drawn against no fund case cases like the depositor has closed his
account with the drawee bank.
STALE-DATED CHECK. A check where date on its face and date payment or encashment exceeds 6 months.
POST-DATED CHECK. This is an instrument where the date on the face is a future date considering the day of the
encashment or payment.

USES AND LIMITATION OF CHECKS

SAFETY AND CONVENIENCE. It is safer to bring along with your checks for big amounts payable rather than cash.
STOP PAYMENT NOTICE. Drawer may notify bank for stop payment of certain checks issued due to some default in
the performance of any obligation on the part of the payee.
FOR ODD AMOUNTS. Some transactions may require odd amounts which can easily be paid by simply indorsing a
check.
AS A RECEIPT. Acceptance and payment through checks serve as official receipt for business transactions,
particularly when received by the drawer together with his monthly bank statements.

FOR LARGE AMOUNTS. Checks are convenient to use as an instrument for paying large amounts of business
transactions.

A CHECK BEING A NEGOTIABLE INSTRUMENT MUST CONFORM OF THE FOLLOWING REQUIREMENTS:

o
o
o
o
o

It must be in writing and signed by the drawer.

Must contain an unconditional promise or order to pay certain amount of money.
Must be payable in demand or at a fixed and determinable future time
Must be payable to bearer or order
Where the instrument is addressed to the drawee, the drawee must be named reasonable certainty.

BANKS DUTY TO HONOR CHECKS

o
o
o
o
o
o

Overdraft: A check written on a checking account in which there are insufficient funds to cover the check.
A bank faced with an overdraft has two options: (1) dishonor the item (i.e., bounce the check), or (2) pay the item
and charge the customers account, collecting the difference from the next deposit or from the customers savings or
other account.
Postdated Check: A check dated for payment at some future date.
A bank may charge a postdated check against a customers account upon presentment, unless the customer notifies
the bank, in a timely manner, that the check is not to be paid until the stated date.
Stale Checks: A check, other than a certified check, that is presented for payment more than six months after its
date.
As a general rule, a bank is not obligated to pay a stale check upon presentment, although it may do so.

DRAWERS DEATH OR INCOMPETENCE

o
o
o
o
o

A customers death or incompetence does not affect the banks authority to honor a check drawn on the customers
account until the bank
knows of the death or incompetence, and
has had a reasonable period of time to act on the information.
If the bank does not know of the customers death or incompetence at the time a check is issued or presented, the
bank may pay the item.
Even when a bank knows of the customers death, it may still pay or certify checks drawn on or before the day of
death for ten days following the date of death, unless a valid stop payment order has been issued.

STOP-PAYMENT ORDERS
o
o
o
o
o

Stop-Payment Order: An order by the drawer to his bank not to pay or certify a certain check.
The order, if made in a timely and reasonable manner, must be obeyed.
A bank making payment over a valid stop-payment order must re-credit the customers account, but only to the extent
of the actual loss suffered by the drawer because of the wrongful payment.
A drawer who wrongfully issues a stop-payment order will be liable to the payee both for the amount of the check and
for any consequential damages incurred by the payee as a result of the wrongful stop-payment order.
Except in rare circumstances, payment cannot be stopped on a cashiers check or certified check.

FORGED DRAWERS SIGNATURE

o
o
o
o
o

As a general rule, when a bank pays a check on which the drawers signature is forged, the bank is liable and must
credit the drawers account.
Customer Negligence: However, when a customers negligence substantially contributes to the forgery, the bank
will generally not be obligated to credit the customers account.
Every customer has a duty to examine bank statements (as well as cancelled checks or photocopies of check, if
included with the statement) promptly and with reasonable care, and to report any alterations or forged signatures
promptly. If a customer fails in this duty, he is liable for any improperly paid checks.
If the customer can prove that the bank failed to exercise ordinary care in paying the check, then the customer and
the bank will share the liability.
If the bank can establish the identity of the forger, it may recover from the forger and from any person accepting a
forged check with notice of the forgery.

FORGED ENDORSEMENTS AND ALTERED CHECKS

o

Forged Endorsement: As a general rule, when a bank pays a check bearing a forged endorsement, the bank is liable
and must credit the drawers account.

o
o
o
o

If a customer fails to report a forged endorsement within three years after the check has been made available to the
customer for inspection, the bank will no longer be liable to the customer.
Altered Check: A bank has a duty to examine each check before making final payment. If the bank fails to detect an
alteration, it is liable to its customer for the difference between the intended amount to be paid and the amount actually
paid.
Exception: Failure to Report A customer is obligated to exercise the same care with respect to alterations as forged
drawers signatures.
Exception: Blank Check Moreover, a bank is never liable for paying a check that the customer signed leaving
blank (1) the name of the payee or (2) the amount to be paid.

TYPES OF DEPOSIT ACCOUNT

SAVING ACCOUNT a deposit account held at a bank or other financial institution for individuals to save money that provide
principal security with a modest interest rate. Funds deposited in a savings account may be withdrawn only by the account owner
or a duly authorized person. (SA is a safe way to store money in a bank)

withdrawal without passbook is not allowed

inter-branch withdrawal charges P100 (depends on bank policy)
dormancy (2yrs from the date of last transaction) P100/month
inactive for 6 months without transaction
early account closure charges (within 30 days) P100
passbooks are not transferable
atm replacement charge P100
below maintaining balance P200/month
a passbook shall be stamped CLOSED and punched with two holes and shall be returned to the depositor
alteration on deposit/withdrawal slip or checkbooks shall be signed in full

RULES AND REGULATIONS GOVERNING SAVINGS ACCOUNT PASSBOOK

These are the Rules and Regulations governing ____bank's savings account passbook.
These are basically important to all _____bank account holders as to remind them some important guidelines concerning their
savings account passbook.
Some vital questions will be answered such as:
> How to withdraw your money without personally going to the bank?
> Can a minor or a person below 18 years open a Metrobank account?
> What to do if your Passbook is lost or stolen?
> Are there any hidden charges for dormant accounts?
> Can a living person withdraw the money if his joint partner of the joint account is dead?
1. WHO MAY OPEN ACCOUNTS - Any person who is at least seven (7) years of age and not suffering from any legal disability
may open a savings account in (the "Bank"). A parent may open a savings account for the account of his minor child. Such
account remains under the exclusive control of the parent. However, he may neither assign the account nor subject it to any
other lien or encumbrance. Upon his death, the account passes on the child. Any guardian, trustee or administrator may also
open a savings account for a person or estate committed to his care.
2. DEPOSITS- The Bank shall require an initial minimum deposit from the depositor. It may, at any time, return to the depositor
his deposit, together with the interest due. The Bank will notify the depositor, either personally or by mail, of its intention to close
the account, and interest will cease from the date of such notice.
Check deposits are treated as collection items only and as such, posting of check deposits shall not be construed as an
acceptance of the deposit. Furthermore, the Bank reserves the right to immediately charge off returned items or deny
acceptance of the check.
3. THE PASSBOOK - Upon opening of a savings account, the Bank will furnish the depositor with a passbook in which all
deposits and withdrawals made by the depositor will be entered by the Bank. A depositor must, under no circumstances, write
anything on the passbook, as the Bank will not be responsible for any sum not properly recorded and acknowledged thereon. No
entries in the passbook shall be made except by the Bank. The passbook is not a conclusive evidence of the balance in the
account. Furthermore, it is not transferable.
All entries in the passbook shall be machine-printed/validated to be considered as valid entries of the Bank. For typewritten
entries, they shall contain the affirmation/authentication of two (2) authorized officers of the branch through their
signatures/initials opposite the typewritten entries.
The Bank shall not allow any deposit or withdrawal unless the passbook is presented by the depositor. He shall carefully safe
keep the passbook. In case it is lost or stolen, he shall promptly report it in writing and submit an affidavit to the Bank giving all
the circumstances surrounding the loss. If it is not found within a reasonable time, the depositor may apply for a new passbook
which, when issued, shall show the balance outstanding to his credit as shown in the books of the Bank. The depositor shall pay
a service fee for the replacement of the lost passbook.
4. HOW TO DEPOSIT - The depositor or his representative may make deposits by properly filling out a deposit slip. If the
depositor cannot write, he must have the deposit slip filled out by a person other than an employee of the Bank.
5. HOW TO WITHDRAW - The depositor or his representative may make withdrawals by properly filling out a withdrawal slip.
The Bank may allow withdrawals by a person other than the depositor himself only upon the depositor's written authority which
must be fully authenticated. If the depositor cannot write, he must have the withdrawal slip filled out by a person other than an
employee of the Bank, who must sign the same as one of the two witnesses to the affixing of the fingerprint of the depositor.
No depositor shall be permitted to withdraw from his savings account any amount in excess of the balance outstanding to this
credit as shown by his passbook. Neither will a depositor be permitted to withdraw any sum that includes fractional part of a peso
except when closing the account. The Bank reserves the right to require 60 days prior written notice of any withdrawals from a
savings deposit.
If the Bank has knowledge of the death of person who maintained a deposit jointly with another, it shall not allow any withdrawal

by a surviving depositor from the said account unless the Bureau of Internal Revenue (BIR) has certified that proper taxes have
been paid thereon. For this purpose, all withdrawal slips shall contain statement to the effect that all of the joint depositors are
still living at the time of withdrawal by any one of the joint depositors.
6. CLAIM AGAINST ERRONEOUS ENTRY - A depositor must promptly question any erroneous entry in his passbook before
leaving the Bank premises.
7. INTEREST - Deposits shall earn interest at such rate as may be determined by the Bank in accordance with the pertinent
regulations/guidelines issued by the Bangko Sentral ng Pilipinas (BSP). The minimum amount that shall be entitled to interest
shall be fixed by the Bank and shall be computed based on actual daily/cleared balance compounded quarterly. No interest shall
be paid on accounts (a) which have remained dormant/inactive for two (2) years; or (b) closed prior to interest posting. A dormant
account that is reactivated shall earn interest starting from date of reactivation. All returned checks shall be excluded from
interest computation from date of deposit to date of return. The passbook must be presented to the Bank to have the interest
entered thereon.
8. SERVICE CHARGE - A service charge shall be imposed without notice on an active account that falls below the required
monthly Average Daily Balance (ADB) for at least two (2) consecutive months. A service charge will likewise be imposed without
notice on dormant account if its balance falls below the required monthly ADB. The service charge shall be subject to change
with prior notice that shall be posted within the Bank premises.
9. CLOSING OF THE ACCOUNT - When a depositor wishes to close his savings account, he shall fill out a withdrawal slip that
must be made out for the amount of the balance outstanding to the depositor's credit as reflected in the passbook. The depositor
shall pay the Bank a service charge for closing his account within thirty (30) days from opening date.
10. CHANGE OF ADDRESS - A depositor shall immediately notify the Bank in writing of any change in his address or contact
information.
11. DORMANT ACCOUNTS - A dormancy fee shall be collected on accounts that are inactive for at least two (2) years
regardless of account balance. A dormant account that is reactivated shall earn interest starting from date of reactivation, and
may be classified as dormant again after having been inactive for two (2) years. The dormancy fee shall be immediately debited
from the dormant savings account.
12. COMPUTER BREAKDOWN - In case of computerized operations, the Bank shall not be liable for any loss or damage that
may incurred by the depositor(s) or any third party due to any information in the passbook which may be erroneous, delayed, or
subject to adjustments as occasioned by computer programming defects, faulty communication lines and/or any other
deficiencies (hardware and software) of the computer system.
13. EXTRAORDINARY INFLATION OR DEFLATION - In case of extraordinary inflation or deflation of the currency stipulated
herein, the provision of Article 1250 of the Civil Code shall not apply.
14. ACCEPTANCE OF RULES - The depositor is understood to have accepted and therefore shall be bound by the conditions
stated herein and other additional regulations as the Bank may subsequently make covering his savings account. The Bank
reserves the right to revise any of the foregoing rules and regulations. New, revised or amended rules and regulations shall be
posted within the Bank premises.
15. PDIC* - Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum amount of Two
Hundred Fifty Thousand Pesos (250,000.00 pesos) per depositor.
PDIC shall presume that the name/s appearing on the deposit instrument is/are the actual/beneficial owner/s of the deposit
except as may be provided herein.
In case of transfers or break-up of deposits, PDIC shall recognize actual/beneficial ownership of transferees who are qualified
relatives of the transferor. Qualified relatives are transferees within the third degree of consanguinity or affinity of the transferor.
In case of (a) deposits in the name of, or transfers or break-up of deposits in favor of, entities, either singly or jointly with
individuals, and (b) transfers or break-up of deposits in favor of non-qualified relatives. whenever such transfers/break-up will
result in increased deposit insurance coverage, PDIC shall recognize the beneficial ownership of the entity or transferee provided
that the deposit account records show the following:
i.

details or information establishing the right and capacity or the relationship of the entity with the individual/s, or

ii.

details or information establishing the validity or effectivity of the deposit transfer, or

iii.

copy of the Board Resolution, order of competent government body/agency, contract or similar document as
required/provided by applicable laws.

In the absence of any of the forgoing, PDIC shall deem the outstanding deposit as maintained for the benefit of the transferor
although in the name of the transferee, subject to consolidation with the other deposits of the transferor.
PDIC may require additional documents from the depositor to ascertain the details of the deposit transfer or the right and
capacity of the transferee or his relationship to the transferor.

CHECKING/CURRENT ACCOUNT
Is a checking account that allows easy access to the funds...it is a service provided by a bank or financial institutions which allow
individuals and businesses to deposit money withdraw funds and pay your bills. You can access your money by writing a check.

no second endorsed checks are allowed

SPO (stop payment order) span 6 months
mishandled accounts (bank has an authority to close the account/3x bouncing check)
dormancy (1yr from the date of the last transaction)
only checks/withdrawal slips containing signatures/writing in ink or shall be honored
client/s are required to surrender all unused checkbook upon closing of account
notify bank in case of change of address and civil status

TIME DEPOSIT
Is money deposited at a bank that cannot be withdrawn for a certain term or period of time. When the term is over the funds can
be withdrawn or it can be held for another term. The longer the term the better the yield on the money.

Renewal/roll-over upon maturity

pre-termination (7days notice)
alteration must be signed by the officer and the branch manager.

ACCOUNTS ABANDONED OR UNCLAIMED

The Escheatment Process
All states require financial institutions, including brokerage firms, to report when personal property has been abandoned or
unclaimed after a period of time specified by state law often five years. Before a brokerage account can be considered
abandoned or unclaimed, the firm must make a diligent effort to try to locate the account owner. If the firm is unable to do so, and
the account has remained inactive for the period of time specified by state law, the firm must report the account to the state
where the account is held. The state then claims the account through a process called "escheatment," whereby the state
becomes the owner of the account.
Escheatment occurs when an agency or business holding on to unclaimed money cannot locate the owner. Escheated accounts
are derived from sources such as bank accounts, stock dividends, and tax refunds. Dormant accounts are escheated to the state
where these monies and accounts are located. Escheated funds can generally be reclaimed indefinitely- if they are located and
proof of ownership is provided.
As part of the escheatment process, the state will hold the account as a bookkeeping entry, against which the former
account owner may make a claim. States tend to sell the securities in escheated accounts and treat the proceeds as state funds.
When a former account owner makes a valid request, however, the states will normally provide the former owner with cash
equaling the value of the account at the time of escheatment. This amount of cash does not include any dividends or interest
covering the time after escheatment
States have their own requirements for finding and claiming unclaimed property. If you believe you have unclaimed property, the
state will require you to send them information about yourself to verify your ownership of the unclaimed property. After verifying
your ownership, the state will either mail you a claim form or permit you to fill out the form online and print it for submission to the
state.

RULES FOR INACTIVE OR DORMANT BANK ACCOUNTS

When a bank account has not had any activity for awhile, it is considered inactive, and eventually, it becomes dormant. There are
specific rules and regulations that banks must adhere to when dealing with inactive and dormant accounts.
Time Frame
If a customer's bank account has been inactive for a significant amount of time it becomes dormant. The standard amount of time
is 5 years; however, some banks use different time frames. Inactivity means there have been no transactions such as
withdrawals or deposits.
Written Notification
Prior to an account reaching a dormant status, the financial institution will contact the customer with written notification.
Dormant/Unclaimed
The account will become dormant if the customer does not respond to the notification. All funds in the account will then be turned
over to the state and labeled unclaimed funds.
Public Listing
There are a variety of places where unclaimed funds will be listed. You can find a list on a state website as well as other
publications.
State Procedures

If you have unclaimed funds, you should contact the state to receive instructions for having the money released.
Claim Form
1. Anyone wishing to file a claim will need to fill out a claim form and mail it along with proper identification.

BASIC DOCUMENTATION (account opening)

1. Inquires type of account to be open from client
2. Request client to present required identification paper or supporting documents
3. Identification required: PRIMARY IDs (drivers license, passport, alien certificate of registration, professional
regulatory commission, new issued SSS id) SECONDARY IDs (tin, marriage license student ID, company
ID, postal ID)
4. Documentation :
a. SOLE PROPRIERTORSHIP (certificate of registration of business name, application of registration
of business name, primary ID of sole proprietor)
b. PARTNERSHIP (articles of partnership approved by SEC, partnership resolution, primary ID of
managing partner)
c. CORPORATION (articles of incorporation, corporate by-laws, certificate of registration with SEC,
notarized secretarys certificate of board resolution designating the bank as its depository bank,
notarized secretary certificate on the election of the board of Directors, primary IDs of the
principals or authorized signatories)
d. FOREIGN CORPORATION ( certificate true copy of license to do business in the Philippines
issued by SEC, primary IDs of the principals or authorized signatories
e. UNINCORPORATED (articles of association/constitution, by-laws, notarized secretarys certificate
of board resolution designating the bank as its depository bank, notarized secretarys certificate on
the election of board of directors, primary IDs of the signatories)
5. Request client to fill-up CIF, signature cards and general terms and conditions form
6. Reviews forms accomplished by the client. Ensures that these are properly and duly accomplished.
7. Verifies information stated in the signature cards and CIF with the submitted documents.
8. Branch managers must sign in full in the authenticated by and approved by portion of the documents.

DOCUMENTATION GUIDELINES
1. ID verification
a. Id picture
b. Expiry date
c. Signature
d. Address
e. Birthday
2. Documentation
a. Verify the ID/documents presented
b. Ensures that there are no material alterations/corrections in the documents submitted
c. Request presentation of the original documents for comparison/authentication and affixes his/her
initial on the stamped original seen on all pages of the documents.
THINGS TO LOOK OUT FOR (KYC):
1. Purpose for opening the account.
2. Nature and volume of business, if any
a. How long is the business already?
b. What are the peak seasons of the business?
3. Nature of receipts and disbursements of funds
a. Is it coming from their suppliers?
b. Is it coming from their customers?
4. References, preferably known to the bank
a. Referred by existing client?
b. Referred by valued client?
c. Referred by a bank officer/employee?
5. Mode of bank statement delivery
6. Send a thank you letter

PDIC -

PHIL DEPOSIT INSURANCE CORP (500k)

GOVT INSTITUTION ATTACHED TO THE DEPT OF FINANCE
FOUNDING DATE JUNE 22, 1963

PAD - PUBLIC ASSISTANCE DEPT is PDICs quick response action desk that attends to querist and complaints of
depositors and the general public. It records complaints about deposit account in the live banks and claims against closed
bank.

Passbooks are not transferable

AMLA fund deposited are not proceeds/profit of the unlawful /criminal activity if justify funds deposited are proceeds
of unlawful activity funds shall be close.
BY-LAWS internal rules of a company or an org.
ARTICLES OF INCORP
o Name of the company
o Purpose of the company
o Location
o Existence
o Names/nationalities/ residence of the incorporators
o Number of trustees their names /nationalities/ residence
o Amount contributed of the inc.
o No part of income or profit obtained shall be distributed as dividends
o Elected treasurer of the corp
o Can manifest its willingness to change company name
o The corp shall comply rules & regulation of securities & exchange commission
o Signed by the witnesses
SPO span 6 months
Mishandled bank has an authority to close an account
Renewal/roll-over upon maturity
Withdrawal without passbook not allowed
Inter -branch 100/withdrawal depends on policy
Atm replacement 100
Below monthly ADB 100
Inactive - 6 months/ 1 year
Dormant - SA 2years CA 1year Charge 250
Maturity / pre- termination 7 days notice
Early account closure 100 within 30 days

KYC Know your client

TOD Total over draft
DAUD Drawn against uncleared deposit
DAIF Drawn against insufficient fund
AMLA Anti Money Laundering Act
AMLC Anti Money Laundering Council
BMSC Below Maintaining Service Charge
PDC Post-dated check
PDIC Philippine deposit Insurance Corporation
SPA Special Power of Attorney
SPO - Stop Payment Order
SEC Securities and Exchange Commission
ECS Electronic Clearing System
MICR Magnetic Ink Character Recognition

BANK BRANCH ORGANIZATIONAL CHART

BRANCH MANAGER is responsible for the administration and efficient daily operation of a full service branch office, including
operations, lending, product sales, customer service, and security and safety in accordance with the Bank's objectives. Plan,
direct and coordinate the operations of a business, division, department or operating unit. Plan and maintain systems and
procedures for operating efficiency. Manage staff for optimum performance.
Main Job Tasks and Responsibilities

Serves as a branch representative

Responsible for the control of the total outcome in branch performance
determine staffing requirements
hire and train new staff
supervise direct reporting of staff according to overall company policy
set employee goals and objectives
develop staff to maximize potential
plan and implement procedures and systems to maximize operating efficiency
co-ordinate financial and budget activities for maximum operational efficiency
facilitate the preparation and analysis of reports
review performance data (financial, sales and activity reports) to monitor and measure productivity, goal progress and
activity levels
responsible for the achievement of department/division/unit productivity and quality goals
organize and manage business meetings
Re-assure the vision of the branch as a daily routine.

BANK CASHIERS or officers are the first line of enquiry for customers entering a bank branch. They deal with customers on a
face-to-face basis, using customized computer systems to process transactions and deal with account enquiries.
Main Job Tasks and Responsibilities

greet and acknowledge each client

assist clients if possible
provide answers to product and payment-related queries
resolve client complaints
Monitor bank vaults to ensure cash balances are correct.
handle and resolve clients complaints
manage clients' accounts
Prepare and verify cashier's checks.
communicate and coordinate with internal departments
Compose, type, and mail customer statements and other correspondence related to issues such as discrepancies and
outstanding unpaid items.
Inform customers about foreign currency regulations, and compute transaction fees for currency exchanges.
Quote unit exchange rates, following daily international rate sheets or computer displays.
Prepare work schedules for staff.

NEW ACCOUNTS OFFICER/Customer Service Officers job description gives you a good understanding of the tasks,
responsibilities and skills involved in customer service work. Although customer service jobs vary according to sector, the
company and the level of the position the fundamental job requirements remain constant. Interact with customers to provide and
process information in response to inquiries, concerns and requests about products and services.
Main Job Tasks and Responsibilities

Initiate and open new accounts

Process time deposits
respond promptly to clients inquiries
handle and resolve clients complaints
obtain and evaluate all relevant information to handle inquiries and complaints
perform customer verifications
direct requests and unresolved issues to the designated resource
manage clients' accounts
keep records of clients interactions and transactions
record details of inquiries, comments and complaints
Process and maintain records of customer loans.
Receive and count daily inventories of cash, drafts, and travelers' checks.
Compute financial fees, interest, and service charges.

Carry out special services for customers, such as ordering bank cards and checks.

BANK TELLERs accurately and efficiently process and record routine transactions for bank customers including cashing
checks, accepting deposits and withdrawals, processing loan payments and money transfers. Promote and advise on the
banks product and services

Balance currency, coin, and checks in cash drawers at the beginning and end of shifts, and calculate daily transactions
using computers, calculators, or adding machines.
Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree,
and that accounts have sufficient funds.
Receive checks and cash for deposit, verify amounts, and check accuracy of deposit slips.
Examine checks for endorsements and to verify other information such as dates, bank names, identification of the
persons receiving payments and the legality of the documents.
Enter customers' transactions into computers in order to record transactions and issue computer-generated receipts.
Count currency, coins, and checks received, by hand or using currency-counting machine, in order to prepare them for
deposit or shipment to branch banks or the Central Bank.
Identify transaction mistakes when debits and credits do not balance.
Process transactions such as term deposits, retirement savings plan contributions, automated teller transactions, night
deposits, and mail deposits.
Receive mortgage, loan, or public utility bill payments, verifying payment dates and amounts due.
Resolve problems or discrepancies concerning customers' accounts.
Explain, promote, or sell products or services such as travelers' checks, savings bonds, money orders, and cashier's
checks, using computerized information about customers to tailor recommendations.
Perform clerical tasks such as typing, filing, and microfilm photography.
Order a supply of cash to meet daily needs.
Sort and file deposit slips and checks.
Count, verify, and post armored car deposits.

Main Job Task and Responsibilities

Receive and count working cash at beginning of shift
Identity customers, validate and cash checks
Accept cash and checks for deposit and check accuracy of deposit slip
Process cash withdrawals
Perform services for customers such as ordering bank cards and checks
Receive and verify loan payments, mortgage payments and utility bill payments
Record all transaction promptly, accurately and in compliance with bank procedures
Balance currency, cash and checks in cash drawer at end of each shift
Answer inquiries regarding checking and savings accounts and other bank related products
Attempt to resolve issues and problems with customers accounts
Explain, advise on and promote bank products and services to customers