0
MICR stands for Magnetic Ink Character Recognition
In olden days cheques were validated and passed manually. The account numbers had to manually validated and tagged. This MICR is a magnetic code that is printed on the bottom of the cheque. When the cheque is placed under a MICR reader, the machine would automatically identify the account number and details of the person who issued the cheque.
This aids in faster processing of cheques. Also counterfeit cheques would not be passed by this way.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What is MICR number in demand draft?
what is mean by MICR Drfat / Checque
What is the process of micr laser check printing?
MICR is an abbreviation for micro ink character recognition. MICR are the symbols on the bottom of checks that are used by electronic sorters in various banks during the check clearing process.
How is MIcr used by banks in check processing?
It prints numbers at the bottom of a cheque.
Why do check scammers change the micr numbers?
so it extends the float time
What is used almost exclusively by the banking industry for check processing?
MICR or Magnetic Ink Character Recognition
What does micr mean in computer terms?
micr
What is MICR number in demand draft?
what is mean by MICR Drfat / Checque
What is the process of micr laser check printing?
MICR is an abbreviation for micro ink character recognition. MICR are the symbols on the bottom of checks that are used by electronic sorters in various banks during the check clearing process.
Which companies make MICR Laser Check?
HP manufactures MICR laser printers. The MICR laser printer is used to create checks. MICR is the shortened version of Magnetic Ink Character Recognition.
How do you redeem a micr laser check?
"To redeem a MICR laser check, if you are printing it off, you need to have a laser printer. Then you need to take it to the bank, and sign it, like a normal check."
What is the micr code of sbi Chennai?
The MICR code of ICICI Bank Sholinganallur is 600229029
How is MIcr used by banks in check processing?
It prints numbers at the bottom of a cheque.
Why do check scammers change the micr numbers?
so it extends the float time
What is MICR code for icici bank velachery branch chennai?
Check in your cheque book........
Micr number of icici bank powai branch?
400229004 - printed in the middle of the bootom of the check.
What is used almost exclusively by the banking industry for check processing?
MICR or Magnetic Ink Character Recognition
USES OF Magnetic ink character recognition?
MICR was developed at IBM to expedite bank check processing.
