What is micr account number?

MICR (Magnetic Ink Character Recognition) account numbers are used in banking to facilitate the processing of cheques. The MICR code is printed on the bottom of a cheque in magnetic ink, and includes the bank's routing number, account number, and cheque number.

The MICR account number typically consists of a series of numbers that uniquely identify a bank account. This number helps banks and financial institutions to accurately process and route funds when cheques are deposited or cleared.

MICR technology is widely used in the banking industry to automate the processing of cheques and other financial documents. It helps to reduce errors and speed up the processing of transactions, making it a crucial component of the banking system.