The IP Dept. policy concerning MICR toner is as follows:

 

Excessive rejects!  Sorters will not read regular toner, this means that every check that is printed using regular toner will have to be keyed manually to be processed. If the IP Saff detect a significant rise in your CU reject rates and it is attributed to the toner, there will be a per item reject fee put into place.

 

Industry standards dictate that all checks are to be machine readable - if it is not MICR toner, it is not machine readable. (This policy also extends to members who print their own checks.)

 

Example: A very large Michigan bank now charges $.75 for every reject over a preset limit of 1%. Not using MICR toner can become very expensive!