By Lyn Askin

Other than the banking industry, MICR toners are also used for ticketing to ensure security and authenticity of the materials. Insurance companies send out printed materials and forms that are prepared with the MICR toners to enable their companies to track down the forms and contracts. Airlines, as well as events organizers, issue tickets that are produced with the help of the MICR technology to ensure that these are authentic and minimize the influx of counterfeit tickets.

Printing Accuracy and Speedy Processing

Because most industries need to ensure that the materials that are processed for their operations are accurately printed, MICR toners are employed. Tickets and banking forms should be of the right size and have its details printed in the most precise manner. The size of the text, positioning of the characters, and the setting of the size on paper should be perfectly aligned and printed.

There is a necessity for these factors to be followed to enable computers and machines to read these forms correctly. Once information is incorrect or erroneous, the machine will automatically discard the entry. Without the use of computers and machines to scan MICR printed materials, verification and processing would take a longer time.

Fast-paced Production and Printing

Nowadays, people need to meet the demands of the fast-paced world, which is why checking accounts have been persistently used rather than rushing to a bank to withdraw cash. Checks are also more secured and convenient means of paying and purchasing. Because of the constant need for checks, there is a high need for banks to produce enough supply for their clients. Both individuals and businesses have applied to checking accounts all over the world.

The banking industry has best benefitted from MICR technology. It has helped in automating needs of various industries everywhere. Not only is MICR system needed for production and generation, it is also utilized in processing needs.

Security Features

MICR toners are used generously by a great assortment of industries mainly because of the security features that it can offer. Printing and verification of forms and materials with the use of MICR toners can ensure companies that the materials they distribute and retrieve are authentic. Consequently, when the appearance of counterfeit materials are prevented, the privacy and welfare of industries and their clients are kept secured and protected.

There are many advantages that industries and individuals can enjoy with the help of MICR technology. As long as there is a great need to ensure the authenticity of numerous materials from different industries, MICR toners will always be needed.

At Network office Supplies we understand that many businesses need the tools to print on checks with MICR Toner. That’s why we’ve built this website to offer our services for cheque printing.

If you’re after a reasonably priced printer for under $1,000.00 then we’ve got you covered.

Call us Today to discuss how Network Office can help you with your MICR Toner requirements.

MICR toners have been around for fifty years. Their development sprung from a serious need to revolutionize the banking industry and the way they process checks. Checks themselves have gone through a long period of changes in the last four hundred years, and the use of MICR toners was among the latest updates in its history.

How did MICR toners come about and what is its role in the development of the way we use checks? The answer lies in the development of the checks themselves.

The Goldsmiths and the Use of Checks

Before there was any paper money, much less checks, there was gold and silver. Gold and silver coinage was used as currency, and people carried some along whenever they needed to shop for goods and services. However, carrying coins around could be cumbersome, not to mention dangerous. Highwaymen were only too happy to accost innocent travelers and make off with their coins.

So, in the 1600s, goldsmiths appeared in England and in Europe. These goldsmiths functioned a little like how banks work these days. People deposited gold and silver with them in exchange for notes of credit. Notes of credit were also called goldsmiths notes, drafts, and bills of exchange. These were the first checks that people came to use.

The California Gold Rush

The California Gold Rush during the mid-1800s also posed the same problems. Trains transporting gold and silver were attacked by robbers. In order to stop this, companies like the Wells Fargo & Co., which operated a coach line that transports gold, established a state bank chartered in California. Through the bank, they issued checks instead of transporting gold.

Because checks were becoming popular by the 1900s, the Federal Reserve Bank Districts were established to shorten the clearing and processing time of checks. With the time to process checks shortened by this development, the new challenge of handling and sorting checks emerged.

The Birth of the MICR Toner

By the 1950s, the American Bankers Association recognized the fact that it is becoming difficult to process volumes upon volumes of checks through manual handling and sorting. There was a need to automate the process completely. And so, the MICR toners came to be.

In 1956, as part of the commission to address the automation of check processing, Dr. Kenneth R. Eldredge of the Stanford Research Institute (SRI) made a study on what is now called as Magnetic Ink Character Recognition, or MICR. The use of MICR toners made checks readable by the machine as well as the human eye. Another thing that made MICR toners beautiful is that their formulation was mixed with iron oxide. Iron oxide makes it possible for machines to read the ink of MICR toners still, despite anyone writing over them or making markings or stamps.

The SRI, General Electric, and the Bank of America were in the front lines of the development of the MICR technology and MICR toners. The U.S. patent for the technology was later given to General Electric.

The final format of the fonts to be printed using MICR toners was the work of Batelle Memorial Institute, which the American Banking Association asked to administer the trial of the fonts to be made by 50 individual printers. This process gave birth to the E-13B font typically associated with checks and MICR toners.

By the 1960s, the use of MICR fonts printed with MICR toners for processing checks have become standard all over the world. But because imaging and online banking has created another revolution in the banking industry, it would not be surprising to see further changes in the development of MICR toners and MICR technology in the years to come.

Learn more about MICR Toner and MICR Toner Cartridges by visiting the Inkcarts website.

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Printing your own checks for your small business can save you money. You can lower your payroll costs overall and reduce your chances of being a check fraud victim with a few simple steps. Using today’s technology, a laser printer and a magnetic toner cartridge, it’s simple.

Magnetic Ink Character Recognition, or MICR for short is the process and technology behind check printing and processing. A MICR Toner contains particles of iron oxide, that when fused with your check paper, allow banks and their check reading systems to quickly and accurately process your checks. A typical laser toner cartridge does not contain enough of the iron oxide particles, so it is important that you use MICR. Magnetic toner is generally available for HP, Lexmark and Troy brand printers.

Consider the benefits. You’ll save money over the typical cost of pre-printed checks. You will no longer have to pay for the high cost of checks from your local bank. There is a measure of security when printing your own checks. Since the blank checks to not contain your banking information, the chances that your valuable information will be stolen are decreased. Changing banks is no longer the hassle it once was. Simply change the banking information in your software, and the new information is printed directly on the blank check stock. No more throwing away old checkbooks.

Creating your own checks is a piece of cake. You enter your banking information such as your routing number and checking account number into the software. You can add company logos, slogans and even your signature to your customized checks. Then, making sure you have a MICR Toner loaded up in your printer, add the blank check stock and hit “print”.

if you own a monochrome, or black only laser printer from HP or Lexmark, you may already have what you need to print your own checks. Most Lexmark, HP and Troy printers have MICR toner cartridges available, so all you’ll need is some check printing software, a stack of blank check stock and of course, the proper MICR toner cartridge.

Learn more about MICR Toner Cartridges. Stop by Inkcarts.com where you can find out all about MICR toner and what it can do for your business.

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