MICR code is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator. The technology allows MICR readers to scan and read the information directly into a data-collection device.
MICR Toner is a specialty toner which provides the magnetic charge, allowing the MICR line to be read. MICR Toner is placed into a laserjet printer when you need to print checks. In many cases the MICR Toner can be used in your current laserjet printer, but in some cases the laserjet printer settings must be reconfigured in order to print MICR documents that meet banking specifications.
As inkjet printers become more popular so does the need for MICR ink. MICR ink is applied as an ink base solution. MICR ink carries similar features to MICR toner. MICR ink is a perfect MICR solution for mobile check printing. The typical inkjet printer is smaller in size when compared to a laserjet printer. This allows for on the go check printing options for MICR ink.