The MICR line on a Canadian cheque is a series of digits that contain the bank account number. These numbers are usually six or seven digits long. The format of the MICR line varies depending on the bank, although the basic layout is the same. This article will explain what the MICR line is and how it works. Then, we'll discuss how it's used in real life.
The MICR line is a strip of characters that appear on the bottom of a cheque. It contains information that banks need to process a transaction. The line also tells a bank whether the payment is made in Canadian dollars or US dollars. The last three digits indicate whether the transaction was made by a bank in the United States. While the MICR line is a useful tool, it's only one of several elements on a cheque.
The MICR line is used to process Canadian and US checks. The line holds information from the bank, including the account number, the cheque number, and the transaction code. The lines are printed with a special font called MICR. The font has a standardized pattern that helps scanners read the MICR line and turn the numbers into digital data. The lines are used to identify which customer accounts were opened and what the money was spent on.
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