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Magnetic Ink Character Recognition, also known as MICR is an advanced technology used by the banks to ease up the process of transactions through cheques. The character recognition technology allows reading of the characters which are imprinted on the cheques by the computers or scanners. MICR code can be easily read by the humans too, but a cheque is not allowed to transact money till then the scanner confirms that the ink characters are original.
The ink or toner that imprints MICR code contains iron oxide in it. When a machine decodes these characters, primarily it magnetizes the code in the plane of paper, then passes it over a MICR header. MICR header is like playback head of tape recorder. When character starts to pass over the header, it turns these characters into the waveform that can be easily recognized by the system of the scanner.
If you want to know MICR Code of UCO Bank then you can get by visiting Bank’s website or RBI website. There are following ways to get
- Through Cheques:
- Bank Website:
- Bank Branch:
If you don’t know what is your Bank branch’s MICR code? Then you can get it imprinted at the bottom of the cheque. The character in the middle of bottom line forms the MICR code. It is a 9 digit code which can be easily recognizable.
An alternate option to get the MICR code is to visit bank’s website or RBI website. After visiting the website, search MICR code, it will ask you for some general detail, fill it and you will be provided with all the important codes related to transactions along with MICR code.
You can also get MICR Code by the Bank’s branch. Just go and ask them about it, they will guide you to the ways through which you can get it easily.
All the banks have same procedure of getting MICR code. You can follow the above methods to get it.
MICR Code is helpful in transactions?
The MICR code imprinted on the cheque is clear and easily readable by the system. The oxide magnetic ink can be read reliably even if it has some overprinting or stamp mark on it. It rarely happens that the MICR code is not readable due to ink recognition error.
The use of MICR code is not just limited to the cheque processing step. It has other benefits too, like it eased up the process of money transaction by cutting down the time consumed in rechecking them by humans. It also cut down the wastage of money that once was done on paperwork. MICR code made the process simple and straight, now humans don’t have to waste their time in finding errors.
MICR code lowers down the fraud cases and if it happens, the person is claimed for cheating with fraud check which is considered a punishable offense in every country.
It speeds up the processing of cheques. Now, you don’t have to wait for hours to transact money.
So, keep transacting. Hope! It helped you.