Banks have started to find ways to streamline their handling of checks as more people grew mobile and (perhaps have grown rich) found more use for bank checks. To automate the processing of these, a standard electronic processing, handling and reading system was established. This is now known as Magnetic Ink Character Recognition.
Magnetic Ink Character Recognition:
The American National Standards Institute (ANSI) defines MICR or Magnetic Character Recognition as the accepted machine language specification used in payment transactions on paper – that’s bank checks for you. These are characters printed (MICR Printing) in a special magnetic ink (MICR Toner) that is then read by high speed magnetic equipment that is especially made to recognize these. MICR printing follows an agreed pattern or syntax that, besides authenticating the check, provides the bank with the necessary information like the account number, bank routing number, check number and even the amount requested.
MICR printing involves a special formulation ink called the MICR toner, and these can be printed using a laser printer or printed on a printing press or w/ impact machines. The MICR toner is magnetically charged so that the reader-sorter machines can recognize them through each character’s unique shape. And since it is a machine that optically recognizes these characters, it become important then to have an even or consistent print quality, correct placement of characters on the designated printing area to ensure readability.
MICR Toner:
You can use your regular desktop laser printer in MICR printing as long as you use MICR toner. MICR toners are specially formulated magnetic inks that are not the type that you usually use with your printers. These may be readable to the human eye but what the reader-sorter machines are looking for is the magnetic signal or the electronic “fingerprints.” Trying to pass a check in a bank with invalid MICR codes will have them rejected at the clearing center, may cause you a lot of delays, or worse, the bank teller may suspect a modern Frank Abagnale, Jr. who is totally clueless about Magnetic Ink Character Recognition.
May 26