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.

Related Terms

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    An ATX entry is an acknowledgement by the receiving depository financial institution (RDFI) confirming the receipt of a corporate trade exchange (CTX) credit entry.

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  • Authorizations (Card Processing)

    All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

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