MICR definition

MICR means Magnetic Ink Character Recognition;

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MICR means the magnetic ink character recognition inscription at the bottom of a paper check.

MICR refers to Magnetic Ink Character Recognition and describes the special numbers and symbols on the bottom of a check used to expedite its delivery and posting.

Examples of MICR in a sentence

• Each image must provide all information on the front and back of the original check at the time presented to you by the drawer, including, but not limited to, information about the drawer and the paying bank that is preprinted on the original check, MICR information, signature(s), any required identification written on the front of the original check and any endorsements applied to the back of the original check.

• We may disregard information on any check or item other than the signature of the drawer, the identification of the drawee financial institution and payee, the amount, the endorsements, and any other information that appears on the MICR line.

• If any Magnetic Ink Character Recognition (MICR) information is provided on a check or other item, we may disregard any conflicting information on the item.

• Each Image must include the front and back of the Item and the following information must be clearly readable: amount, payee name, drawer signature, date, check number, account number, routing and transit number, MICR (Magnetic Ink Character Recognition) line, and any endorsement or other information written on the check.

• The IFSC may be obtained from the website of RBI as at a date prior to the date of payment of refund, duly mapped with MICR numbers.

More Definitions of MICR

MICR is the magnetic ink character recognition information that is encoded on Items for processing.

MICR means the bottom line printed on all checks using a special font called Magnetic Ink Character Recognition.

MICR means Magnetic Ink Character Recognition

MICR means magnetic ink character recognition.

MICR stands for Magnetic Ink Character Recognition, a special font for printing numbers and symbols in magnetic ink along the bottom of a check to enable financial institutions and others to recognize by automated means the Routing Number, account number, check number, check amount, and other information relevant to that check in accordance with American National Standards specifications for placement and location of MICR printing for an Original Check and American National Standards specifications for an Image Replacement Document for a Substitute Check (unless the Federal Reserve Board, by federal order, determines that different standards may apply).

MICR means Magnetic Incription Character Recognition.

MICR means the magnetic ink character read line encoded on a Paper Check that contains information about the Customer’s checking account, including the ABA Routing Number and checking account number.