Of all the teller tasks in a bank branch, the most painful and time-consuming is manual check issuance. Cashier’s checks or money orders can be particularly cumbersome, but issuing any negotiable document in a branch is fraught with expense and risk if you aren’t using an automated check-issuance solution including secure MICR printers and check-printing software.
Before: Manual Check Printing & Issuance in the Branch
A majority of financial institutions are still using pre-printed checks and a dot matrix printer – or even a typewriter – to issue official checks. Using this dated method to print checks and issuing or money orders typically takes 8-10 minutes if there are no errors (which often occur in such a manual process.) If the customer needs temporary or starter checks, personal information is usually not included, risking rejection from the business where it’s presented for payment.
After: Secure, On-Demand Check Printing Software for All Types of Checks
CheckPartner Enterprise is a check printing software solution that allows you to maintain multiple check “forms” – for money orders, cashier’s checks, counter checks, temporary checks and starter checks. It merges customer information with the correct form and sends the information to a secure MICR printer for the actual check printing, which can accommodate multiple trays with different types of blank check stock. CPE “tells” the printer which tray to pull from, and the check is printed – complete with variable data, static data and signatures all in a single printer pass.
Benefits of a MICR Check Printing Software Solution
There are several key benefits of our secure MICR check printing software specifically for financial institutions and customers:
- Eliminating the need for pre-printed checks saves 82% in paper cost alone
- Secure MICR check printing solution virtually eliminates the risk of check fraud
- Eliminate human errors using automation instead of a manual process
- Decrease the amount of time it takes to issue official checks or money orders by 75%
- Customers can use the checks immediately
If you are ready to expedite the check printing process, reduce the risk of fraud, and eliminate the manual process, contact Source Technologies to see how you can get started with on-demand MICR printing.
Editor’s Note: Updated on June 2, 2020. Originally published on March 8, 2017.
