Purpose

• MICR is used by banks in many countries to print checks and financial documents. MICR technology uses magnetically charged ink or toner to print the numbers and characters on the bottom of a check. MICR technology is popular in the banking industry in the U.S. because it allows for quick, reliable check processing.
  
  

History

• MICR ink was born in the United States, in the 1950s. Demand for fast and accurate check processing had created the need for a mechanized system to process checks. U.S. banks, machine manufacturers and check processors worked together to develop the first MICR ink, the E-13B MICR. It was adopted by the American Bankers Association in 1958.
  
  

Technology

• E13-B MICR information is still used today by clearing houses, retailers using barcode technology and banks in the U.S. and other countries. After a check is deposited using MICR ink or toner, it is processed through a reader-sorter machine. The machine reads information about the check including the account number, bank information and other transaction codes.
  
  

Different Format

• Some countries use a different format for MICR printing, the CMC-7 font. CMC-7 MICR format was developed in France. Today, France, Spain, Israel and most of South America use CMC-7 MICR format.