A CDE Definition
A magnetically detectable ink used to print the MICR characters that encode account numbers on bank checks. See MICR.
(Magnetic Ink Character Recognition) The machine recognition of numeric data printed with magnetically charged ink. It is used on bank checks and deposit slips. MICR readers detect the characters and convert them into digital data. Although optical methods (OCR) became as sophisticated as the early MICR technology, magnetic ink is still used. It serves as a deterrent to fraud, because a photocopied check will not be printed with magnetic ink.
Early MICR Machine
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