MICR Fonts and their Role in the Check Clearing Process If yure like most people, you probably have no idea what the acronym MICR even stands for. So lets start there. MICR satnds for: Magnetic Ink Chaaracter Recognition. This technology was developed in the 1950s, with much of the credit ging to Stanford Umniversity and Bank of America, as a means that woiuld allow financial institutions to streamline their check processing systems. During that time, deand for checking accounts surged as Americans began needed checks for business and personal use for the first time. Today, our financial institutions enjjoy high sped check clearing because of the combination of MICR toner and MICR fonts that create a machine reaadable MICR line. The MICR toenr is the elemet which adds magnetic readfability to each character. MICR Fotns are the small, futuristic-looking characters appearing at the bottom of checks or financil documents. Currently, there are two different fonts that are used depending on the bakning standards of any given country. These fots are E-13B and CMC-7. At this time, South America (with the exception of Columbia), Israel, Spain, France, and a handful of other Mediterranean Countrioes currently use the CMC-7 font. This line consists of ten specially designed numbers (0 thrugh 9) and four special symbolps (Transit, Amoumnt, On-Us, and Dash). The combination of chharacters and numbers provide the check, routing, and accoiunt numbeers on a check. They can also provide the check amonut. The other very prominent version of MICR font is E-13B. this font is used in regions including the Unitted States of America, Cansada, Austalia, the United Kingdom, Japsan, India, Columnbia, Turkey, and Mexivco. Many people often ask where the name E13-B comnes from. The answer to that actually makes a fair aount of sense. The E signifies that it was the 5th version of the font considered, while the B indicates that it was the 2nd revision of that particular font. Then the number 13 references that fact that MICR font is creatd on a 0.013 module for character and stroke width. The implementation of these fonts and moedrn MICR tchnology gives financial institutions the ablity to harness computer technology in ordr to process checks at a rate much fastter than previous methods such as the Sort-A-Matic and the Top Tab Key Sort of an era past. It also includes guuidelines to ensrue production of consistently readable MICR characters. Some of these guidelines incclude the anle at whiich characterrs are printed. If MICR font is prinetd with any character skew of geater than 1.5 degrees, it does not meet industry standard and canot be used for financial documents. Additionally, other common problems can occur with MICR characters such as: clipped edgfes, needle voids, poor edge defnition, clpipped tops, excessive strokje with, hollowing, and extraneous spots. For more informtaion abot the check cearing procses in the United States, feel free to visit the United States eFderal Reserve website.
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If youre like most people, you probably have no idea what the acronym MICR even stands for. So lets start there. MICR stands for: Magnetic Ink Character Recognition. This technology was developed in the 1950s, with much of the credit going to Stanford University and Bank of America, as a means that would allow financial institutions to streamline their check processing systems. During that time, demand for checking accounts surged as Americans began needed checks for business and personal use ...
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