Full Form of MICR
The full form of MICR is the Magnetic Ink Character Recognition.
|MICR||Magnetic Ink Character Recognition|
What is MICR
Magnetic Ink Character Recognition (MICR) is a character-recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a check.
Characteristics of MICR code
A MICR code is a nine-digit code that recognizes the bank and branch involved in an ECS uniquely. The MICR code is written next to the cheque number, at the base of a cheque leaf. It can also be found printed on the very first page of a bank savings account passbook.
MICR code composed of three parts
- City code – The very first three digits represent the city. They are matched with the PIN code which we use in India for postal addresses.
- Bank code – The next three digits reflect a bank.
- Branch code – The last three figures indicate the branch.
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If you have questions and answers related to MICR, then tell us your thoughts in the comment, know the complete meaning of MICR in this article.
What is bank MICR number?
The MICR number is the account number listed on the bottom of your checks and is used for setting up direct deposits and automatic withdrawals from your accounts. Your 14 digit MICR/Account number can be found on the bottom of your check.
What is MICR in SBI?
MICR code contains numerical values only. It is a nine digit code, usually printed on cheque leaves. MICR Code is used for processing cheques easily. State Bank Of India has many NEFT supported branches.
How can I get MICR code?
The MICR code is located on the bottom of a cheque leaf, next to the cheque number. You can also find it printed on the first page of a bank savings account passbook.