Yes, you are required to use the MICR font on the MICR line, but that does NOT mean you have to print that line using MICR ink/toner. Their claim that the Federal Reserve requires MICR is phrased to mislead you. Troy is in the business of selling MICR printers, so clearly they are biased. They called every bank they did business with and every single one, including banks in Central and South America, affirmed that no one requires MICR ink/toner anymore because no one used magnetic check readers anymore. I just mention this because, at my last job, it took forever to convince the Accounting Department that the need for MICR ink/toner no longer existed. No modern financial institution in the developed world still uses magnetic check readers, so the obligation to print checks using MICR ink/toner no longer exists. Now that the Check 21 Act has been in effect for nearly 18 years, an actual MICR printer is a very rare sight. After the Check 21 Act was passed, the ability for financial institutions to accept and create "substitute checks" (electronic images of checks that are wholly substitutes for physical checks), the necessity of MICR printers started a rapid decline.
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