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Definition of 'Magnetic Ink Character Recognition Line - MICR'
The information that appears at the bottom of a check that includes the bank's routing number, the customer's account number, and the check number. The magnetic ink character recognition line is printed using technology that allows computers to read the printed information. Using MICR, computers can quickly read routing numbers, account numbers and other information from printed documents including checks. MICR numbers, letters and symbols are printed with magnetic ink or toner, usually in one of two major MICR fonts. The magnetic ink allows the computer to read the characters even if they have been covered with signatures, cancellation marks or other marks.
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