MICR
Magnetic Ink Character Recognition
MICR is a technology used on checks that allows machines to read the routing number, account number, and check number printed at the bottom of each check using special magnetic ink.
MICR ensures fast and accurate processing of checks by banks. The distinctive font and magnetic ink allow check processing equipment to read the information even if the check is damaged, folded, or has stamps or other marks on it.
Related Terms
Check
A check (or cheque in British English) is a written order instructing a bank to pay a specific amoun...
Routing Number
ABA Routing Transit Number
A routing number is a nine-digit code used in the United States to identify financial institutions. ...
Account Number
An account number is a unique identifier assigned by a bank to each account holder. It's used in con...
Check Number
A check number is a unique sequential number printed on each check to help account holders track and...
Need to convert bank statements to spreadsheet format? Try our bank pdf converter to easily export your transaction data to Excel or CSV.
The best offline currency converter.
Built for travelers.