Find MICR Code On Cheque? MICR Full Form

If you want to find the MICR code on cheque, then is article is for you. Here we will give you complete knowledge about MICR code. But before reading further, we urge you to share this post with your friends and family to help them find the MICR number on cheque.

To make cashless transactions, banks introduced printed cheques in 1717. It was not only a prominent way of cashless transactions but also helpful in preventing fraud.

But with the advancement in technology, banks started digital payment systems. Then companies like Paypal, Paytm, Google pay, Phonepe, etc. entered into digital payment services. Soon it becomes a prominent mode of payment. Today, millennials use these digital wallets for payments.

Although digital payments are fast and secure, there are some limitations to these payments. That’s why checks remain one of the most popular payment methods. One such limitation is the credit limit. In a digital payment system, there is a credit limit, but there is no credit limit on cheques. Therefore, you need to know what is MICR and where to find it.

What is MICR Code?

The MICR code on cheque is a 9-digit code printed on the bottom of the cheque leaf (next to the cheque number). It helps in the identification of banks and branches, which play a part in the Electronic Clearing System (ECS). It results in faster processing. MICR code is also printed on the first page of a bank savings account passbook.

MICR code consists of three parts:

The first three-digit is the city code (PIN code).
The next three-digit represent the bank code.
The last three-digit is the branch code.

MICR code Example

The MICR code for the above cheque is 695240002.

The first three digits (695) of the MICR code represent the city of Thiruvananthapuram.
The next three digits (240) represent the HDFC bank.
Finally, the last three digits (002) represent the branch code.

MICR Full Form

The term MICR stands for Magnetic Ink Character Recognition technology.

What is the use of MICR code in banks?

MICR code is used in filling various financial forms such as investment or SIP forms.
It is also helpful in fund transfers.
It detects and prevents fraud.

MICR code SBI

To find the cheque number in an SBI bank cheque, you will need to identify three things–IFSC code, MICR code, and cheque number.

You will find the SBI MICR code at the bottom of the cheque leaf.

Union Bank MICR code

Here is an example of the MICR code Union Bank of India. You can find it at the bottom of the cheque leaf.

MICR code ICICI bank

A check contains three important pieces of information. The image below shows a check from ICICI Bank.

ICICI bank MICR code

MICR code Kotak Mahindra Bank

If you are looking for a MICR code Kotak bank, you can find it at the bottom of the cheque leaf. Here is an example.

MICR code of Bank of Baroda

You can find the Bank of Baroda MICR code at the bottom of the cheque leaf. Here is an example.

MICR code of Punjab National Bank

You can identify these three things – IFSC code, MICR code, and cheque number.

Federal bank MICR code

Here is an example of the Federal bank MICR code.

MICR code Allahabad bank

The MICR code of Allahabad bank is at the bottom of the cheque leaf, as shown.

MICR code Indian Overseas Bank

The IFSC, Cheque Number, and MICR code Indian Overseas Bank are mentioned on the cheque leaf as shown.

MICR code Bank of Maharashtra

The IFSC, Cheque Number, and MICR code bank of Maharashtra are on the cheque leaf. Here is an example that shows the MICR code Bank of Maharashtra.

What is the difference between IFSC and MICR codes?

IFSC Code	MICR Code
It is used for digital fund transfers between banks in India.	It is used in fund transfers via cheque and makes the payment process simpler and faster.
IFSC is an acronym for Indian Financial System Code.	MICR code full form is Magnetic Ink Character Recognition technology.
IFSC code is an eleven-character alpha-numeric code.	MICR is a nine-digit code
The first four characters represent the name of the bank.	The first three-digit represent the city (PIN) where the bank is located.
The last six digits represent the location of the bank.	The last three digits represent the branch code of the bank.

Key Points

Full Form of MICR: Magnetic Ink Character Recognition technology
It is a nine-digit number located at the bottom of the cheque leaf.
MICR code is used to identify a bank and branch participating in the ECS Credit scheme.
Every bank branch is assigned a unique MICR code by the RBI.
For NEFT, IMPS, and RTGS transactions, the IFSC code and MICR code are equally important.
MICR codes help speed up the cheque-clearing process.

FAQ

How can I get my MICR code online?

The MICR code is printed at the bottom of our cheque leaf (next to the cheque number).

What is the full form of MICR?

The term MICR is an acronym for Magnetic Ink Character Recognition technology. It helps to speed up the cheque-clearing process.

Is the MICR code the same for one branch?

No, the MICR code of every branch is different even if it is from the same bank.