faq1

Do I need magnetic (MICR) ink?

ChecksNet software includes genuine MICR type to create account & bank codes. You enter normal numbers on your keyboard and it converts them to MICR and automatically places codes in the required location on checks or drafts.There is no law in the USA requiring magnetic ink.

However, there are MAJOR reasons for using magnetic toner:

Lack of magnetic content forces banks to manually type routing code and account number. Humans make mistakes. One incorrect number sends the check to the wrong bank or against the wrong bank account. This results in checks or drafts being returned unpaid (bouncing) for a variety of reasons. During our testing we've had many come back with a big red stamp across ther face that says CAN'T LOCATE ACCOUNT - DO NOT REDEPOSIT.

Banks and credit unions are charging up to $10 EACH to process non-magnetic (non-MICR) checks.

Banks consider checks without magnetic ink to be possible fraudulent checks which can delay payment.

If you're making checks to pay your bills and you don't use magnetic ink your checks may come back mangled.

Your bank statements may be missing check numbers which makes it harder to reconcile.

Banks have the legal right to reject checks, drafts, or deposit slips that lack magnetic toner.

In a few reported cases, banks have closed the accounts of individuals and businesses that refuse to use magnetic ink.

Aside from avoiding all the problems listed above, you can save money by using our MICR toner cartridges. Our MICR toner is darker than regular toner. This means you can lower printer darkness setting to save toner. This may reduce your overall toner usage & cartridge costs.

For more information about MICR toner cartridges, click HERE.