Full Implementation of the BCS Validation E-mail

November 17, 2017BANK BULLETIN NO. 16-17SUBJECT:Full Implementation of the BCS Validation E-mail   TO:All Authorized Agent Banks In order to address the issue on the penalties of Authorized Agent Banks (AABs) arising from lack of feedback mechanism on their transmitted BCS files, this Bureau has developed the BCS Validation Electronic Mail which was initially implemented to four pilot AABs last October 2016. It provided the AABs' Head Offices with feedback on the status of their transmitted BCS files. For the full implementation of the above-mentioned feedback mechanism, the following policies and procedures shall be strictly observed by all AABs:1.       Recipients of the BCS Validation E-mail shall be the AABs' Head Offices which shall hand it out to their respective branches.2.       Subject of the validation shall be in detailed format as follows:           <Bank Name> BCS File(s) processed in <Revenue Data Center> as of <Processing Date>3.       The BCS Validation E-mail shall be in detailed format as follows:           <Agent Type> <Agent Code> <RDO Code> <Municipality Code> <Collection Date> <BCS Code> <BCS Number>           If a particular record encountered an error,...