Most of the banks today have updated scanning technology and do not require the MICR after the Check21 Act. Checks are allowed to process through image OCR for faster processing. Like you deposit the check by phone and ATMs. That is the reason these days you don’t get original checks any longer but a yellow replacement copy of checks which is in the same class as a legal copy of checks. Mobile banking works today
Once the check has been converted to an image, the presence of MICR ink on the original item may not be known downstream
MICR stands for Magnetic Ink Character Recognition; unlike regular laser toner, MICR toner contains iron oxide.
The use of MICR Toner may incredibly speed up the handling of your printed checks.
The majority of the printer you have at home or office may have MICR Toner easily available in the market (just Toner-You don’t need to change the whole printer). Search your printer model online for MICR toner. It is much the same as a normal toner. However, Iron Oxide blended in the toner. After printing, nobody comes to know any deference yet readable by a MICR reader.
The cost for MICR Toner cartridges will vary upon the model of the printer but will print a considerable number of checks because of the low utilization of toner per page of checks. For instance, the MICR Toner for an HP LaserJet 1100 sells for $40.00 to $50.00 with a normal page yield of roughly 2800 pages – that is around 8400 checks if it is a 3 Per Page Checks.