The Importance of MICR Toner in Financial and Banking Industries

While many monochrome printers allow high quality printing, MICR toners (Magnetic Ink Character Recognition) are used to print accounting, routing, bank checks information and negotiable documents.

MICR is a specialized type of toner cartridges which is generally used to print and authenticate checks. The equipments and devices used in banks all across the world use MICR toner to read essential check data, thus making MICR printing a significant aspect of the banking system.  MICR toner is particularly used by companies that print cheque and small businesses that prefer to reduce costs by printing their cheques by themselves.

The main reason why the MICR technology became so popular over the years is that the banking industry required a reliable way to process a large volume of cheques in the shortest time possible. There are again a considerable number of people and companies that have checking accounts and there are more than millions of cheques that are issued to these people or companies every year. It is therefore needed to make the processing cheques automatic, or else the entire banking industry would be flooded with cheques.

The other most special function that magnetic ink character recognition toners perform is that they assist to prevent the illegitimate checque fraud. MICR readers cannot read cheque that are not printed out with MICR toners; thus, in this way, the use of MICR toner prevents cheque fraud. Therefore, this ink has become a crucial component in maintaining accuracy and preventing banking fraud and other related crimes.

You can leave a response, or trackback from your own site.

Leave a Reply