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MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount (usually added after a cheque is presented for payment), and a control indicator. The format for the bank code and bank account number is country ...
The MICR forms are the main form – it is printed in magnetic ink, and is machine-readable; it appears at the bottom left of a check, and consists of nine digits. The fraction form was used for manual processing before the invention of the MICR line, and still serves as a backup in check processing should the MICR line become illegible or torn ...
The final digit of a Universal Product Code, International Article Number, Global Location Number or Global Trade Item Number is a check digit computed as follows: [3] [4]. Add the digits in the odd-numbered positions from the left (first, third, fifth, etc.—not including the check digit) together and multiply by three.
A routing number is the term for bank codes in Canada.Routing numbers consist of eight numerical digits with a dash between the fifth and sixth digit for paper financial documents encoded with magnetic ink character recognition and nine numerical digits without dashes for electronic funds transfers.
Account numbers often have between eight and 12 digits, but some account numbers have as many as 17 digits. If you have more than one type of account at a bank, you will have a separate number for ...
CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition (MICR) data are captured at the collecting bank branch and transmitted electronically. Cheque truncation means stopping the flow of the physical cheques issued by a drawer to the drawee branch.
Routing numbers are required for many types of financial transactions, including check processing and wire transfers. Like the account number, the routing number can be found at the bottom of a check.
A cheque signed by Richard Nixon, showing use of ⑆, ⑇, ⑈ and ⑉ in the machine-readable line. The MICR subheading contains four punctuation characters for bank cheque identifiers, taken from the magnetic ink character recognition E-13B font (codified in the ISO 1004:1995 standard): U+2446 ⑆ OCR BRANCH BANK IDENTIFICATION, U+2447 ⑇ OCR AMOUNT OF CHECK, U+2448 ⑈ OCR DASH, and U+2449 ...