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Questions tagged [micr]

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Martino Martino Sun Oct 06 2024 | 7 answers 1471

Why do banks use MICR?

Could you explain to me the significance of MICR for banks? What advantages does it offer that traditional methods lack? How does it enhance the efficiency and security of the check-clearing process? Additionally, how has the adoption of MICR technology transformed the banking industry in recent years?

Why do banks use MICR?

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