3  The magnetic ink character recognition (MICR) line is the line of numbers printed near the bottom of the check, which generally includes the paying bank’s routing number, the customer’s account number, the check number, and the amount of the check.
2  BIS Review 83/2006  The ACH is seen as a potentially attractive option because it is an electronic system that reaches all depository institutions and could eliminate the need to print substitute checks. The flow of check information over the ACH system raises the legal question of whether the payments should be characterized as checks or electronic fund transfers.