MICR (Magnetic Ink Character Recognition) is the automatic reading of numerical information printed in magnetic ink on deposit slips and bank checks, which is recognized by MICR readers and converted into digital data. Even though optical technologies (OCR) have advanced, magnetic ink technology is still being used to deter fraud. MICR characters and symbols are printed using the E13B standard typeface on bank checks and deposit slips. The original MICR machine used in the 1970s was a large check-processing and credit card slip-processing device. Presently, modern devices support both MICR and OCR processing.
What is Magnetic Ink Character Recognition (MICR)?
Magnetic Ink Character Recognition (MICR) is an automatic reading technology used to recognize numerical information that is printed in magnetic ink. The technology is commonly used on deposit slips and bank checks. The characters are recognized by MICR readers and turned into digital data.
The use of magnetic ink is still preferred even though optical technologies (OCR) have advanced to the level of early MICR technology. It acts as a deterrent to fraud since a photocopied check won’t be printed with magnetic ink.
What is the Font Used in MICR?
MICR digits and symbols on bank checks and deposit slips are printed using the E13B standard typeface. The font contains only 14 characters, making it easier for MICR readers to recognize and interpret the information.
What was the Original MICR Machine?
The original MICR machine used in the 1970s was the “football field-long” check-processing and credit card slip-processing device from Recognition Equipment. This giant machine was used to process checks and credit card slips for banks, financial institutions, and government agencies.
What is the Modern MICR Machine?
The modern MICR machine is a device that supports both MICR and OCR processing. This advanced technology allows for faster and more accurate recognition of numerical information on bank checks and deposit slips. The use of magnetic ink remains the preferred security measure to deter fraud.
In The deduction, MICR technology has been in use for many years to recognize numerical information printed in magnetic ink on bank checks and deposit slips. The use of magnetic ink remains an effective deterrent to fraud. The E13B standard typeface is used to print MICR digits and symbols. The original MICR machine was a giant device used in the 1970s that has been replaced by modern devices that support both MICR and OCR processing.
