Magnetic Information Character Recognition (MICR)

Magnetic Ink Character Recognition, or MICR, is a specialized technology used primarily in the banking industry to facilitate the processing and clearance of checks and other documents. The technology involves using magnetic ink to print information on documents, typically at the bottom of checks. This printed information includes the bank's routing number, the account holder's account number, and the check number.

The key feature of MICR is the magnetic ink used in printing, which is sensitive to magnetic fields. This characteristic allows MICR readers to detect and read the characters even if they are covered with marks or some overwriting, making the processing of checks faster and more reliable. The standard font used in MICR printing is also uniquely designed to be easily readable by machines, reducing the possibility of errors during the scanning process.

MICR technology has become a standard in the financial industry due to these advantages, particularly in environments where large volumes of checks are processed daily. By streamlining the verification and processing of checks, MICR not only saves time but also significantly enhances the overall efficiency of the banking system's operations.