MICR Toner
The 1950s created the demand for a more systematic method of printing checks, due to the increased demand for data processing. Banks, manufacturers and check processors created and organized teams that resulted in the creation of the Magnetic Ink Character Recognition (MICR) in 1958 by the American Bankers Association.
MICR is a cartridge using special ink referred to as magnetic ink. MICR toner utilizes magnetic ink to create special characters that allow documents containing the ink to be read and encoded. When the ink is printed on a document, the document passes through a machine that magnetizes the ink. The magnetic information that is specific to that document is then translated into the characters.
Banks use MICR technology to encode confidential information by utilizing laser printers. Checks are printed with alpha numeric characters such as the account number and check number are printed onto the check with magnetic ink. MICR toner contains a chemical that is referred to as iron oxide, and it requires fifty to sixty percent iron oxide as an additive to meet readability standards, according to ANSI specifications.
Checks that are printed using MICR technology are significantly more secure than checks that are printed using laser technology, therefore reducing incidents of check fraud. In addition to better security, switching to MICR also allows the ability to remove, add or change bank accounts without the need to order new check stock.
Banks can scan and process checks that are received without the need to process them using specialized check reading systems. Many customers will incur bank processing fees if checks aren’t readable and need to be input manually. MICR toner cartridges are available for a wide variety of popular printer brands and are a cost effective and secure alternative to traditional types of ink.
For further details and history regarding MICR, please visit this link at Wikipedia.