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Business Day
Refers to any weekday with the exception of federal holidays.
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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.
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Check-by-Phone
Check by Phone or "checks by phone" is the patented process of recreating and printing a check without having the original paper check. Check by Phone payments...
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