Which device is used to read cheques?

Answer 1

Many devices may scan the MICR line for various reasons. Before a check is negotiated at the bank the teller may run the check through a PPS machine to gauge the account validity. While, later on, it may be ran through a MICR line scanner which will tell if the MICR line is legitimate or has been altered for forged. Most likely of all, it will be scanned by a Image Capture machine and then be sent to the drawee bank for collection; made possible by the Check Processing for the 21st Century Act of 2003 (USA).

Answer 2

MICR, (magnetic ink character reader), was the original device. It is also known as a reader/sorter.

But now OCR (optical character recognition) software working with a physical camera of some sort is the leading tool, as it allows for local capture of the whole image and transmission of the image for clearing rather than moving and sorting the physical check.

This saves cost and time-to-presentment of the check.

Answer 3

It is called a MICR Reader. MICR stands for Magnetic Ink Character Recognition. It is used by banks to identify the details like customer account number, bank branch code, bank code etc. almost all banks worldwide use these MICR numbers in their checks and demand drafts.

The MICR Reader can read all the information that is written in the corresponding format in a cheque.

Answer 4

MICR (Magnetic Ink Character Recognition)