What is MICR Code ?

The identification of magnetic ink characters, or MICR, is a technology used mostly by the banking industry to enable the printing and clearing of cheques and other papers. At the bottom of a cheque or other voucher, the MICR encoding, called the MICR line, usually includes the document form indicator, bank code, bank account number, cheque number and amount, plus some control indicator. The technology enables MICR readers to directly scan and read the data into a data collection system.

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