Magnetic ink character recognition: Difference between revisions
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''Automated cheque clearing''. | |||
(MICR). | (MICR). | ||
Standard used to encode bank/ branch numbers on the bottom of cheques with magnetic ink which is machine readable. | Standard used to encode bank / branch numbers on the bottom of cheques with magnetic ink which is machine readable. | ||
This allows cheques to be cleared through automated systems. | This allows cheques to be cleared through automated systems. | ||
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* [[Optical character recognition]] | * [[Optical character recognition]] | ||
* [[Transit routing number]] | * [[Transit routing number]] | ||
[[Category:Cash_management]] | |||
[[Category:Liquidity_management]] | |||
Latest revision as of 18:12, 1 July 2022
Automated cheque clearing.
(MICR).
Standard used to encode bank / branch numbers on the bottom of cheques with magnetic ink which is machine readable.
This allows cheques to be cleared through automated systems.
