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Translation from Romanian into English No. 5879 / 24.09.2020To:BUCHAREST STOCK EXCHANGE Fax no.: 021307.95.19 FINANCIAL SUPERVISORY AUTHORITY Financial Instruments and Investments Sector Fax no.:
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How to fill out m i c r
How to fill out m i c r
01
Start by locating the MICR line on the bottom of the check.
02
The MICR line typically consists of three sets of numbers separated by special characters.
03
The first set of numbers is the bank routing number, the second set is the account number, and the third set is the check number.
04
Using a special magnetic ink, carefully fill in each set of numbers on the MICR line.
05
Make sure to double-check the accuracy of each number before finalizing the filling process.
Who needs m i c r?
01
Individuals or businesses who prefer or require paper checks for financial transactions typically need MICR encoding on their checks.
02
Financial institutions, such as banks and credit unions, also use MICR technology to process checks quickly and accurately.
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What is m i c r?
MICR stands for Magnetic Ink Character Recognition, which is a technology used mainly by the banking industry to facilitate the processing of checks.
Who is required to file m i c r?
Banks, financial institutions, and other entities involved in processing checks are required to use MICR technology.
How to fill out m i c r?
To fill out MICR, specific fonts and ink must be used to print the routing number, account number, and check number on the bottom of the check in magnetic ink.
What is the purpose of m i c r?
The purpose of MICR is to ensure accuracy in check processing by allowing machines to quickly and efficiently read and verify the information on checks.
What information must be reported on m i c r?
MICR reports must include the routing number, account number, and check number for each check processed.
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