Xerox 6180N Generic MICR Fundamentals Guide  - Page 16

Overview The printing process is one small part of the total processing procedure for a MICR printing system user. Quality and accuracy of the check documents must be closely controlled during printing to prevent problems from occurring when the document is processed off-site. Check processing procedure All checks impact at least three parties: • The person who writes the check • The person to whom the check is being paid • The bank at which the check writer has an account Depending on where and by whom the check is deposited, how the check is processed, and how the check is handled for funds clearance, many different parties can handle the same check. Fraud can occur at any of the steps or access points in this process. The following steps, illustrated in figure 1-2, trace a document through a series of corporate and banking system procedures typical of the MICR environment. 1-6 Generic MICR Fundamentals Guide