Is That Really You? Hey Bill, Nice picture. You remind me of my geometry teacher back at Christ the King High School in Middle Village, NY. His name was Angelo Perone. Manny
the printers , lexmarks, at kinko's have enough iron in them to micr encode the checks. Keep in mind, a laser printer works by magnetically charging the drum on the printer. Then the toner is magnetically drawn to the drum, and pressed to the paper. So if the iron content of the toner is high enough, voila, it works.
It's common place to pay bills over the telephone using a checking account. If you have provided your checking account number to various parties for this purpose I think it would be wise to maintain sufficient funds in the account to pay those bills and nothing more. Excees funds should be kept separately, perhaps in a savings account with the same bank. Many banks will allow you to transfer funds as needed from one account to the other at no charge.
I used to work at a bank. When a bank gets a check that can not be read with a MICR reader, it is set aside and a strip of paper is glued to the bottom and the numbers re-encoded with MICR ink. Or the item is placed in a transparent envelope that has the MICR line encoded on the bottom. It does not automatically get sent to be audited and authenticated. If an account has enough of these rejects occur, it will be flagged for investigation. Usually, the cause is not fraud, but when a business or person buys really cheap checks in bulk from some mail order fly-by-night outfit that does not use MICR ink on the pre-printed checks. I've seen cases where a business buys boxes of checks from a printer that uses the wrong ink or uses paper that is so cheap that it disenigrates (toilet paper we used to call it).
So, Anthony, what is your authoritative source? Seems like cable666 has refuted you pretty well here. Doc P.S. Off topic. Would you be related to another Anthony Villaseñor, the prominent NASA scientist who's in charge of NASA internet initiatives?
Refuted? LOLâ?¦A matter of perspective, Doc, dependant on whether or not one views posting here as a contest of one-ups-manship. I happen to agree with Cable666â??s statement, although it does not apply to â??allâ? banks. Some rejected items are handled differently than others, much as Cable has described. So where is the refutation, I donâ??t get it? Whatâ??s my â??authoritative source..?â? Only experience.
Doc: A contest of one-upsman-ship????? That' sounds awfully, awfully familiar to me. Reminds me of another one, "Par for the course"
