New banking regulations introduced on January 1 stipulate that the maximum amount that a check can be made out to “Portador” (similar to checks made out to “cash” in the United States) is now 5,000 pesos.
Over this amount all checks must be made out in the name of a person or business. A person with a check made out to “Portador” is not obliged to show identification to bank officials when cashing it.