By Kevin Forrester | April 22, 2015
This may seem counterintuitive. After all, a secure MICR check printer costs more than a regular, non-secure MICR printer. That’s because there are substantial differences between secure MICR check printers versus regular MICR printers that do not offer the same level of security needed in financial institutions.
A regular MICR check printer with no security features allows businesses to print checks and achieve minimal compliance with the Federal Reserve’s requirements. That’s it.
You won’t see much in the way of cost savings with a regular MICR printer. However, a secure MICR check printer offers hard savings in paper costs, significantly reduces the risk of fraud and automates manual processes for most financial institutions. Viewed by many as the best check printers available in the industry, these types of secure MICR solutions help financial institutions comply with federal mandates while providing extra security layers, offering longer-lasting benefits that pay for themselves over and over again.
1. A secure MICR printing solution provides a cost savings of 90% in paper expenses alone:
2. Financial institutions are significantly better protected with secure check printers in place, as they can feature more than 15 security benefits specifically designed to combat check fraud.
3. A secure MICR printing solution offers features to prevent human error when it comes to printing checks:
Below is a more detailed view of all the security features financial institutions have access to when secure MICR check printers are deployed:
Secure MICR Check Printer Feature
|MICR Toner Detection||Prevents printing of MICR documents with regular toner; prevents very expensive bank reject fees||Detects whether MICR toner or regular toner is installed in the printer|
|Set Copies to One (1)||Prevents fraud by disallowing the printing of multiple document copies||A PCL setting that tells the printer to print the job only once|
|Jam Recovery turned off||Prevents fraud by disallowing the printing of multiple check copies||Automatically turns Jam Recovery OFF when checks are being printed|
|Secure Numeric Font||Additional layer of security at the document level; minimizes risk of fraud||Unique font designed by Source Technologies that is very difficult to alter; there is a special background and very small text/numeric print embedded in the amount line of the check|
|Microprint Font||Additional layer of security at the document level; minimizes risk of fraud||Extremely small type font allows one to embed micro text and numbers inside lines of print on a MICR document; Denoted by the letters “MP”|
|ICR Numeric Font||Additional layer of security at the document level; minimizes risk of fraud||Image-readable secure font designed to be read by imaging equipment utilized by many banks and financial institutions|
|Password Protections||Prevents unauthorized access to MICR and secure fonts, signatures and overlays||Prevents access to check-printing resources (stored signatures, MICR fonts, form overlays) without the proper password|
|Front Panel Security Lock||Ensures only approved users can print checks||Additional security beyond password protection; user must enter 8-digit combination prior to printing|
|Toner Low Warnings||Ensures quality MICR printing; prevents bank reject fees||Printer alerts user when MICR toner is low|
|DES Encryption/Decryption||One of the highest levels of security available; delivers data stream protection||Print data stream is encrypted as it is being transmitted to the printer; MICR printer decrypts before printing|
|Audit Trail||Gives user a written record of check printing activity||Creates user-defined reports of check printing activity for auditing purposes|
|Auto Density Control for Toner||Ensures conformance and bank acceptance; prevents bank reject fees||Ensures conformance to signal strength standards throughout cartridge life|
|Originally Manufactured MICR toner cartridge||No “refilled” or “remanufactured” cartridges to introduce potential problems that would damage the printer||Toner cartridges are built and tested using only MICR toner|
|Regulated Fuser Temperature for Optimum Performance||Prevents fraud; maximizes toner adherence; toner will not “lift off” easily||Fusing temperature controlled to match MICR toner and check stock paper weights|
|Tray Locking||Prevents fraud; check stock is safe; reduces paper waste||Key lock on printer and drawers|
|Datastream Tray Protection||Ensures only checks are printed on check paper; reduces waste||Limits the ability of non-MICR jobs to print from specified trays|
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