answersLogoWhite

0

MICR or Magnetic Ink Character Recognition

User Avatar

Wiki User

15y ago

What else can I help you with?

Continue Learning about Accounting

How does one set up an account with RBC online banking?

First you would have to search for RBC online banking online. Once you've located the site that you need all you have to do is click on the appropriate links and follow their directions. You can do almost anything on an online account that you can do by walking into a bank.


Responsibilities of a front office cashier?

- Processing guest check outs. for big establishment most especially when there is 100% occupancy and guest check out almost at the same time.


What is EDP and advantages?

EDP can be defined as Electronic Data Processing. This method eliminates almost all possibilities for human error when typing data into a computer. But, there is a chance for error when the information given to be processed is false.


What is a refund?

A split refund allows you divide your refund, in almost any proportion you would like, and direct deposit the funds into as much as three different accounts with U.S. banking institutions. Use Form 8888, Allocation of Refund, to request to possess your refund split.


What are credit card processing fees?

Each time a merchant processes a credit card transaction they will be charged a fee by the Payment Processing company. These fees are almost always a percentage of the sales and can range from a little less then 1% to as high as 6% depending on the type of credit card the customer presents for payment, the volume of sales the merchant uses and the contract they have signed with the payment processing company. Additionally, there may also be a flat fee charged for each transaction as well plus the percentage of the sale, but in this case the percentage is usually much smaller. Many merchants do not accept certain credit cards because they simply can not afford the high processing rates. For example Gas Stations may only have a profit margin on selling fuel of 3%-5% so if there American Express processing fee is $0.50 + 4.2% of the sale, they are actually losing money when you pay for a tank of gas with an American Express. Everyone also needs to understand that all of the so called "Premium" cards that offer the consumer rewards, points or rebates when using their cards have a much higher processing rate associated with them. You didn't think your bank was actually paying for any of this did you?

Related Questions

How important is the banking industry to sports?

Its Almost a free fall with a rope attached to you...


Is data an adjective?

No, it is a noun (plural of datum, now almost exclusively used as a singular mass noun).But it is widely used with nouns as an adjunct, e.g. data processing, data stream, data mining.


In what animal species does the male look after the offspring almost exclusively?

Seahorses seahorses look after ofspring exclusively


How did they move the Jews to Poland?

almost exclusively by train


How do astraunats communicate in space?

almost exclusively by radio


What sectors are affected by the financial crunch?

Almost all sectors are affected by the financial crunch. Especially the banking & financial industry, automobiles, IT Services, tourism and hospitality, aviation etc.


What does Sarah Graham use in her paintings?

She works almost exclusively in oil on canvas.


What is in a condors diet?

Condors feed almost exclusively on carrion.


The police subculture focuses almost exclusively on?

Crime fighting.


Are you gay if you get nude with another guy?

Nope -- you are only gay if you are exclusively or almost exclusively sexually turned on by other guys.


What is the use of wan in banking industry?

WAN in banking industry is used to provide communication between the HQ and the branches. It also provide communication between the branches. This enables customer data to be accessible from almost any location. Thus, if a customer's account is domicile at a branch, he/she can enter any branch of the of the bank to make deposit or withdrawal and his account will be updated globally.


What does the eastern osprey pray on?

Ospreys are fish eaters, almost exclusively.