Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...Learn More
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.
OCR (Optical Character Recognition)
A technology that enables you to convert different types of documents into editable and searchable data.Learn More