MICR Line definition
MICR Line means the line on the bottom of an original Check containing information concerning the Check and is printed in Magnetic Ink Character Recognition form.
MICR Line mean the numbers, which may include the routing number, account number, check number, check amount and other information, that are printed near the bottom of a check in magnetic ink in accordance with the Standards.
MICR Line means the magnetic ink character recognition line (MICR) line located at the bottom of a check, which contains the routing number of the paying bank and the account number of the maker.
Examples of MICR Line in a sentence
Business Entity shall immediately upon receipt, endorse all Original Checks “For Deposit Only to Extraco Banks” and store and process all Original Checks in a manner reasonably like to not demagnetize the MICR Line, including using care not to store or process checks near sources of measurable electro-magnetic radiation.
More Definitions of MICR Line
MICR Line means the numbers, which may include the routing number, account number, check number, check amount and other information, printed on the bottom of the check in magnetic ink in accordance with regulations and standards.
MICR Line means the printed code at the bottom of a check. Used for account identification.
MICR Line is the information in the magnetic ink character recognition line of a paper item (check) that is used for routing and transmission of Electronic Items.