What Is Magnetic Ink Character Recognition (MICR)?
You may have heard of MICR in reference to checks. However, you might still be wondering, what does MICR mean? The Magnetic Ink Character Recognition line, commonly referred to as the MICR line, is a piece of ink-based technology used to prevent check fraud. It is used in a variety of ways but ultimately is […]
How to Tell If a Check Is Real or Fake
So you just got a check from your employer, and you can’t wait to cash it. You’re thinking of the best way to do it, and going to the bank directly sounds reasonable enough. And although you’ve already planned what you’re going to do with your money, you’re forgetting one thing. That is, of course, […]
Things You Need to Know About Check Fraud
What is Check Fraud? When it comes to finances, we are all very cautious, especially in releasing funds to another person. In this day and age, it is normal to do online bank transactions when releasing funds. Another way is to issue checks when transferring funds or making online payments. But while we benefit from […]
