4 Main Reasons for Using MICR Toner in Printing Checks

By: Jacob Schiffer
Ensure safe and reliable production of checks. Find out the importance of using an appropriate toner when printing checks.

Magnetic Ink Character Recognition (MICR) toner is a special kind of toner popularly used by banks when printing checks. Apart from checks, other uses of this toner include printing of official game, concert, and airline tickets. It utilizes a unique system that recognizes a specific ink and characters that are being fed through a machine for translation. Most, if not all banks, prefer this kind of system because of the following reasons: Superior security If you have noticed, banks usually set cut-off time for processing of checks to give them adequate time to sort checks for verification. Since checks contain confidential details like account numbers, it is imperative to take extra caution in maintaining client's security. Using this kind of toner will allow translation of such numbers into useful information. Excellent precision Aside from the standard font assigned by the American Bankers Association, the designated ink has contributed a lot in maintaining accurate transactions through its magnetic components. Erroneous readings are unlikely to happen because the details are copied exactly as how it is written. Marks or any form of spot will have no effect on the reading since the ink plays an important role in preserving the exactness of each and every data. High-speed processing Because MICR toner is compatible with laser printers, this facilitates faster processing of transactions, which only takes couple of minutes to accomplish. In effect, bank patrons will be given convenience they deserved. Reduce risk of fraud Although numbers are easily readable by naked eyes, decoding has significantly reduced the chance of fraudulent activities because of superior security approach. How does MICR work Similar to barcodes, character recognition is a technology that converts a set of characters through decoding. It makes use of a special ink that contains more than 50 percent iron oxide as compared to an ordinary toner, which is in compliance with the regulation set by the American National Standards Institute (ANSI). This magnetizes computer symbols in the paper to be passed on to a tape recorder-like device. The magnetic properties of the toner will produce signals that are readable enough by the reader-machine. How accurate magnetic scanning is According to Wikipedia, the failure-to-read rate is less than 1 percent while, inaccurate reading is as rare as 1 per 100,000 characters. The method is so precise that even if these are tampered or vague; accurate scanning is almost always possible. Failure to use the specified type of ink will result to incorrect translation and unsuccessful transaction. To maintain a reputable name in the field of banking, clients' welfare should always remain the top priority by ensuring safe and satisfactory service.