Format of MICR Code
In general, the banking sector uses MICR technology to verify the authenticity of the papers and reduce processing and clearance costs for checks and other paperwork. The following information is printed in the MICR code at the bottom of the checks:
- The initial three digits represent the city code
- The next three digits show the bank code
- The last three digits denote the branch code
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.