The Value Of MICR For The Remote Check Depositor

We are now in a world where depositing checks to an account is becoming an automated digital process. As we do this, we take on a new responsibility of ensuring that the information on the checks we deposit is presented to our financial institution in a way that allows for the automated processing of those checks and our deposit.

As a remote depositor, it is important for you to understand what this means to your organization and how it may influence your choices. Several factors impact the quality of information that a remote depositor conveys to their financial institution. Among those choices, you will be faced with the selection of a hardware device for check image scanning.

The purpose of this paper is to provide you with critical information to help guide your decision making process. Many devices are available and there are substantial differences between the capabilities of these devices. One of the more significant, if not the most significant, is the ability of the hardware device to accurately read information encoded on the bottom of the check. This information is printed with a special ink and is commonly referred to as the ‘MICR line'. The focus of this document is to help you understand the significance that the MICR line has on your remote check deposit.