What is Magnetic Ink Character Recognition ?
Magnetic ink is very useful because it is readable both by humans and by specialized equipment. It is one of the components that makes it possible to process personal checks securely, quickly and accurately.
Magnetic Ink Character Recognition, or MICR, is a character recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a check. The technology allows computers to read information (such as account numbers) off printed documents. Unlike barcodes or similar technologies, however, MICR codes can be easily read by humans.
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