Environment; Types Of Micr Applications; Manufacturing Checks - Xerox 6100BD - Phaser Color Laser Printer Fundamentals

Types of MICR applications

Manufacturing checks

Generic MICR Fundamentals Guide
2.

Environment

Checks and other bank forms constitute the most frequent uses
of MICR printing. All businesses issue checks to meet payroll
and accounts payable obligations. In addition, all profitable
publicly owned businesses make periodic stock dividend
distributions by check.
Most medium and small companies buy check production
services from a service bureau or a bank. Individuals who once
obtained personal checks through their banks can now buy
checks through the mail from check printers.
A major trend in the banking industry is check truncation.
Truncation refers to the ability of the bank of first deposit to
process MICR documents, both theirs and those belonging to
other banks, without further transfers of the paper document
(check). The check is processed electronically. This reduces
cost and improves check clearance.
A MICR system need not be dedicated to check printing or to any
other MICR-specific application. A MICR system operates no
differently from an identical system that does not have MICR.
MICR and non-MICR systems may be mixed at a site and do not
impact scheduling of jobs that do not require MICR magnetic
materials.
MICR printing is most frequently used for the following types of
applications.
Check manufacturing refers to the process of converting milled
paper into finished check and deposit books, computer
stationery, etc. This is usually done by a small group of specialty
or security printers, mail order check printers, and others. MICR
printing systems are becoming more popular in this market.
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