08 Sep 2014

Save Money and Increase Bank Transaction Accuracy when MICR toner is used appropriately

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Banking Tip:

Save Money and Increase Bank Transaction Accuracy when MICR toner is used appropriately

It’s a simple convention: When printing checks and deposit slips, use MICR toner. When printing anything else, use regular toner.

Why should you use MICR toner?

MICR toner is required by banks to automate the reading of information on checks and deposit slips. This automation is key to speeding up banking transactions and reducing manual entry errors.

When checks or deposit slips are not printed with MICR toner, all of the information must be hand keyed – including check numbers, dollar amounts and account numbers. Hand keying increases the chances of errors which can make more work for you as you have to go back into your BMS software to manually match up transactions in order to ensure accuracy in your banking ledger.

Why not just use MICR toner for everything?

The fact is, MICR toner cartridges are significantly more expensive than regular toner. So, remember, if you’re not printing checks or deposit slips, switch out the toner cartridge or print to a different printer so that you’re not wasting money.

If you have any questions, please contact the BMS Banking Center via email or call 800-634-7734 ext. 8.

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