Magnetic Ink
Magnetic Ink Character Recognition Code (MICR Code) may be a character-recognition technology used mainly by the banking system to ease the processing and clearance of cheques and other documents. The MICR encoding, called the MICR line, is at rock bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, checking account number, cheque number, cheque amount, and an impact indicator.
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