MICR toner, Magnetic Ink Character Recognition toner, is a type of ink used for printing checks and recognized at banking institutions as a way to read checks without manually entering the information. The technology itself allows for machines to read and use the data on the check, but for the human eye to read the information as well. Usually, MICR toner is used to print the MICR line on checks, which includes the routing number for the banking institution and account information from where the money is transferred. However, the ink itself can be expensive. This article will explain why MICR Toner is necessary, and evaluate is it is expensive in comparison to other inks.

Is MICR Toner Necessary?

Some people use pre-printed checks to transfer money to and from bank accounts, but for those businesses that cut multiple checks each quarter, using something like check-printing software to print their checks onto blank check stock can be a huge money and time saver. If a business is using check-printing software to print their checks, then they are usually advised to print with MICR toner. However, is this actually something that is necessary for printing your own checks with check printing software and blank check stock?

In all honesty, MICR toner doesn’t necessarily have to be used for a check to clear. There are optical readers that can read the same text and MICR line at the bottom of checks, and some banks have this technology. However, not all banks are equipped with optical MICR line readers, and if they receive a check that isn’t written with MICR toner, the chances of getting a processing fee jump astronomically. The bank will run the check through the MICR reader, and when it cannot be read, they will set it aside and key in the information manually. This does cost money, and it can make the check clear slower. While there are some banking institutions where MICR toner is not needed, it’s chance you don’t want to take, especially when processing fees can be a percentage of the actual check. Maybe give examples of what the fees are like.

Is MICR Toner Expensive?

MICR toner can seem expensive, with prices upwards of $100. However, compared to other ink that is used in normal print jobs, MICR toner is relatively inexpensive. When you compare using MICR toner to other inks when printing 1,000 sheets, you would spend almost half the amount of money printing with MICR toner compared to regular ink.

If you are interested in saving time and money by using check printing software, and MICR toner, Piracle, a Utah based company that specializes streamlining your payment methods, has everything you need. From the Create-A-Check check printing software to the MICR toner that is both a quality product with a less expensive price tag, Piracle can save you money and time. Take a look at the services they offer at www.Piracle.com.