The Magnetic Ink Character Reader(MICR) is a device that can recognize human readable characters printed on documents such as cheques using a special magnetic ink. It can be read by both humans and MICR machines. It’s widely used by banks, government agencies and businesses worldwide. It is a technology used to verify the legitimacy or originality of paper documents, especially checks. This will help you save money in the long run and increase brand awareness.
However, for mobile check deposits, where consumers snap a picture of a check to make a deposit, there is no need for Magnetic Ink. If you print your checks without magnetic ink, but the check is passed through a magnetic reader, it will have to be processed manually.
Magnetic Ink Character Recognition is used for the printing of bank checks on blank stock. Unlike toner (ink) used for general text printing, MICR toner has a high iron oxide content so that it can be read by electronic bank processing equipment.