ASAP Cheques Canada
If you are planning to print your own cheques (eg. using blank cheque paper and printing all the headings, account holder and bank name and address and the special numbers on the bottom), then despite what some software suppliers claim, banking regulations require the use of special magnetic ink. If you do not use it and the cheques cannot be processed automatically, you can be charged a service fee for each rejected cheque (we have seen $1 to $3 per cheque).
First, some clarification. Laser printers use toner, and inkjet printers use ink. Until mid-2003, MICR ink did not exist for any model of inkjet printer. At that time, VersaCheck introduced a MICR ink. When you go to their website, keep in mind our ultra-secure blank cheque paper that has more security features yet is less expensive.
MICR stands for Magnetic Ink Character Recognition, and is used to refer to all of the technology behind those funny looking numbers on the bottom of cheques (the MICR font, the magnetic ink used to print MICR, paper specifications and the equipment used to read cheques).
Technically, MICR is an acronym and therefore should be spelled out (M, I, C, R).
However, we have it on good authority that despite it being pronounced "micker" in the movie Catch Me If You Can (starring Leonardo DiCaprio and Tom Hanks, based on the book about Frank W. Abagnale), industry insiders most commonly pronounce it "my-ker".