Disadvantages of MICR
- One drawback of MICR technology is it’s relatively high cost of implementation compared to other character recognition methods.
- The specialized ink, magnetic sensors, and MICR readers can be expensive.
- Additionally, the use of magnetic ink limits the flexibility of document design and may require specific printing equipment.
- Advances in digital imaging and optical character recognition (OCR) technologies have also presented alternatives to MICR for certain applications.
MICR Full Form
Magnetic Ink Character Recognition (MICR) is mainly used to recognize and handle cheques. The series of characters at the left-hand bottom corner of a check is its MICR. It is made up of three sets of numbers: the check number, the customer’s account number, and the bank routing number.