MICR Number (Magnetic Ink Check Reader Number)

The MICR number, short for Magnetic Ink Character Recognition number, is a crucial element found at the bottom of checks. It is composed of a string of numbers printed using a special magnetic ink. This technology allows the numbers to be read by machines (check readers and sorters) even if they are overprinted or obscured by other marks.

Overall, the MICR number is an integral part of the check processing system in modern banking, providing a secure, efficient, and error-minimizing method for handling financial transactions involving checks.