The new technology that spreads all over the world in the banking system now is the MICR technology. The need of this technology increases day by day. As a result almost in all banking systems in the world the MICR is very useful. It is a brilliant exploration of people to do the job and maintaining the banking details in a convenient way. The bank uses this system to perform a large number of works in a very short time so that they can perform multiple tasks at a time.
In the banking system the detail description of the entire customer should keep accurate. The main computer has all the details it. The bank also provides the latest update of their details. The most important thing is the encoding print of the check and the encoding of the other documents of the customer.
The Features of MICR Checks
The checks are the most important part of the banking system for transaction. The features of MICR checks are as follows –
- These types of checksare the checks used for transaction in the banking system that must have encoded in MICR.
- This encoding can easily be seen by the people in the bottom of the checks. The reader of the checks when read or scan these checks then these encoded characters are easily read by the reader. The record of the details is also followed by the main computer.
- There are 3 – 4 fields in Check printers and there are 14 characters in each field. The font of these characters should follow ANSI standards. If the characters of any field are not printed properly then the detector or the machine will show that the check has not proper information. The reader will give an error. Thus every field should print properly.
- The transit field shows the bank or the institution of the check. The amount field is filled either by the bank or any other processing authority. The width of the check is fixed.
Thus print of the check must follow the every encoded rule properly to satisfy the detector accurately.
The Perfect Check Printers
The MICR became the need of the different organization along with the banking system. The checks are printed to fulfill the need of the banking system and other institution. Thus check printers have also in demand to fulfill the need. There are many companies that promise for the best printerin the market and works according to the need of the banking system. The features of good check printers are as follows -
- The perfect printers should have the security feature for the prevention of check – fraud.
- They should satisfy the performance of guaranteed MICR printing.
- They should have all the qualities those required by ANSI standards.
- The quality of magnetic toner is very important means it should pass the text by the reader.
- The speed should be 30 to 45 pages per minute.
If a printer has all these features then surely it is the perfect printer for MICR technology. This technology is now one of the main parts of the banking system and its use increases day by day.