Choosing Check Printers

Archive for the ‘About MICR’ Category

The printing process of MICR that allows for check creation includes the MICR Laser Printer, the MICR Toner, the MICR Font, the security safety paper and the Check processing software.

With billions and billions of checks being written each year, it’s no wonder that all companies are afraid that they might get a fraudulent check. However, with the MICR technology, the elimination of fake checks are increased. These MICR lines are usually read many times by check clearing systems. For most, the MICR is identifiable by the series of black numbers that run along the bottom of personalized checks. In addition to a laser printer, the MICR script can prove valuable in securing the control of financial documents and billing statements. As a versatile technology system, the MICR laser printing can likely improve the efficiency more many industries. For example, an accounting firm that provides payroll services for clients is sort of a like a check book utilized by an assortment of small businesses. To lessen complications, the MICR system can grant great benefits. These benefits would include eliminating storage of check stock, lower printing costs and improve check printing security since you only print when required and the MICR font is stored behind a lock. Some other advantages include eliminating waste, operating cash control and being able to control documents.

A MICR Laser Printer also helps in the process by eliminating the need to store a variety of check stock. Since the MICR Laser Printer makes up to whole check including logo lines, MICR lines, data, signature and everything else that’s needed on the blank check. By doing so, any waste that can occur from check errors such as printing on incorrect stock or incorrect information is eradicated. Not to mention improving security, this also reduces cost of inventory.

Using a MICR toner is an important part of the document security as well. As a specially formulated blend of toner combined with ferrous iron oxide, MICR toner helps make the document secure and able to be read on a check clearing system. In accordance with the American Banking Association, the toner should be “combined” onto the check paper in order to endure a minimum of a 30 pass document sorting process when the check is being cleared through the bank clearing system. However, not all printers are able to complete this process making the check unable to be cleared on bank processing transactions.

Using the correct kind of security paper also makes a difference in the outcome of the document and security. Although there are many choices of security papers out in the market, including blank check and preprinted ones, blank checks should be of choice when buying such security paper if your printer is capable of printing out secure MICR checks. Blank checks are not exposed to fraudulent checks as much making them more secure and they are much more inexpensive to purchase.

MICR, the abbreviated form of Magnetic Ink Character Recognition, involves using a special kind of font that is printed onto checks with a magnetic ink or toner. This magnetic font ink on the check helps businesses and financial institution detect fraudulent checks that go through the check clearing system. When a business scans a check with the check clearing system, the MICR line is read. During this high speed reading, the check clearing system is able to extract information about the check. This information includes the financial institution information as well as information about the payee account in which the funds of the check will be taken from.

In having MICR added to the checks, this security system helps prevent fake checks. With the check clearing system, any checks that has a low magnetic reading or no magnetic reading on the MICR line is usually rejected by the financial institution and other check-cashing companies. This magnetic ink character recognition system has helped to revolutionize checks and makes check frauds easier to recognize than ever.

When using MICR toner, businesses should make sure that they’re getting only quality MICR toners. Why? Some businesses that sell MICR toners don’t exactly make their toners to specifications resulting in some checks that come out with a poor quality magnetic readability. With a low magnetic sensing in a check clearing system, the checks printed from those poor toner can be rejected, which in turn becomes a loss. Repeated mishaps of such can amount to even more loss. Although using an MICR is practically essential to security on a check, there should also be alternative security measures taken to deter fraudulent checks. Using other security features besides the MICR is still very potent in detecting bad checks as one security method is never better than a combination of security methods.