What is the function of magnetic ink character reader MICR?

Answer 1

MICR is an equipment used to read documents using electromagnetic fields.

MICR equipment can not read all the documents. The document should be written using a magnetic ink so that the electromagnetic fields generate from them can be detected by the equipment.

We also say 'MICR printing", "MICR letters", "MICR fonts" to any set of characters that can read by using a MICR equipment

General use of MICR is to read checks in banking business. Almost every check has a MICR printing at the bottom of check.

Answer 2

MICR is an acronym for Magnetic Ink Character Recognition. The MICR Code is a numeric code that uniquely identifies a bank-branch participating in the ECS Credit scheme. The MICR code consists of 9 digits : (e.g 411229003)

• First 3 digits represent the city (411229003 )
• Next 3 digits represent the bank (411229003 )
• Last 3 digits represent the branch (411229003 )

The MICR Code allotted to a bank branch is printed on the MICR band of cheque leaves issued by bank branches. in the country. As on November 30, 2010 there are more than 72,000 RTGS enabled bank branches.

Answer 3

A Magnetic Ink Character Recognition (MICR) reader is a device used to electronically read characters printed with magnetic ink. MICR technology is commonly used in banking to process checks quickly and accurately. The magnetic ink allows the reader to detect and interpret the unique magnetic patterns of the characters, enabling efficient data capture and processing. This technology helps reduce errors and streamline the check processing system.

Answer 4

Well, isn't that just a happy little question! The magnetic ink character reader, or MICR, is a special technology that helps banks process checks faster and more accurately. It reads the magnetic ink characters printed on the bottom of checks, allowing for quick identification of important information like the bank's routing number and the account number. It's like a little helper making sure everything flows smoothly in the world of banking.

Answer 5

MICR (Magnetic Ink Character Recognition) text is vital to posting payments, clearing checks and streamlining other document processing. Most commonly seen on checks, MICR text is readable by machines, which allows numbers and words to be read automatically, quickly and accurately. Because MICR text is specially designed to be read by machines, printing documents that require MICR lines must be done with special ink cartridges.

Answer 6

MICR refers to Magnetic Ink Character Recognition, and is a special type of printing used at the bottem of cheques, to be read by computers. It contains the cheque number, bank routing code, and account number.

Answer 7

MICR stands for Magnetic Ink Character Reader. It is a device that comes under the category of scanners and used to scan Magnetic Ink Characters. For example: cheque number at the bottom of each cheque is written with magnetic ink and is read by a MICR.

Answer 8

Micr technology is magnetic ink character recognition, that can be read by humans and machines alike. It is used to include information in cheques, from sort codes to account numbers and amounts sent.

Answer 9

A MICR printer is advantageous for the banking and finance industry in the creation and secure processes of checking and savings account systems. These printers are not intended for household use.

Answer 10

magnatic ink charector recognisition.