MICR (Magnetic Ink Character Recognition)

The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number and check number. Special magnetic ink toner cartridges are used by check printers as well as authorized users of check by phone systems.

Related Terms

  • Consumer Account

    An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

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  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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