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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    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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  • Existing Relationship

    There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods...

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