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Overview
1-8
Generic MICR Fundamentals Guide
1. The check printer (1) produces a blank check that will be
completed later. This check includes the static data that is
needed for a negotiable document:
•
Financial institution name and address, issuer name and
address, check form, company logo, etc.
•
The MICR line, containing the account and routing
information that is needed to process the check
•
Other audit, account, and report information as required
by the customer
2. The customer (2) adds the transaction information—payee,
amount, and date—and authorizes the funds transfer with a
signature.
NOTE: When using a MICR laser printer, steps 1 and 2 may
happen simultaneously.
3. The completed check is transferred to the payee (3), who
deposits it in the bank of first deposit (BOFD). The payee may
receive the check in person, by mail, or through a third party.
A third party check may require a second endorsement.
4. Deposits (4) are made in several ways: through a teller, using
an automated teller machine (ATM), using a drop box, or
through a postal lock box. Deposited items are accompanied
by a deposit ticket that lists and totals the items and identifies
the payee account.
This is the entry point for the automated payment processing
system.
5. The BOFD encodes the amount of the check in the MICR line
(5) and balances the check against the deposit ticket to verify
that the correct amount is being credited to the payee
account (proof of deposit).
6. MICR documents that are printed on a Xerox MICR printing
system are usually corporate paychecks, stock dividend
checks, etc. After printing, these type of documents require
additional processing using a high-speed device called a
“reader sorter.” The reader sorter identifies each magnetized
character and symbol of the MICR line using logical analysis
algorithms of the electronic wave patterns that the characters
produce.
In the “capture pass,” checks are read in a reader sorter for
the first time (6). At this time, they are sorted into checks
drawn on the BOFD, known as “On-us items” (8), and checks
drawn on other banks.
Содержание 6100BD - Phaser Color Laser Printer
Страница 1: ...January 2003 701P22140 Xerox Document Services Platform Generic MICR fundamentals guide...
Страница 17: ...Overview Generic MICR Fundamentals Guide 1 7 Figure 1 2 Life cycle of a check...
Страница 22: ...Overview 1 12 Generic MICR Fundamentals Guide...
Страница 46: ...Paper facts 3 18 Generic MICR Fundamentals Guide...
Страница 74: ...Document design 4 28 Generic MICR Fundamentals Guide...
Страница 86: ...Document processing 5 12 Generic MICR Fundamentals Guide...
Страница 102: ...Quality control 6 16 Generic MICR Fundamentals Guide Figure 6 11 Examples of extraneous ink spots...
Страница 105: ...Quality control Generic MICR Fundamentals Guide 6 19 Figure 6 12 E13B characters and waveforms...
Страница 146: ...Security 8 18 Generic MICR Fundamentals Guide...
Страница 150: ...References A 4 Generic MICR Fundamentals Guide...
Страница 164: ...Glossary Glossary 14 Generic MICR Fundamentals Guide...