Who sets MICR standards?
In the UK the * Association for Processing And Clearance of Cheques (APACS) sets very precise standards for the design and layout of cheques including dimensions, location, shape, permanence and signal strength of MICR characters. Companies whose cheques do not conform to these standards may be charged by their bank and have indemnity issues if their cheques are rejected for poor MICR quality on the cheque form. In addition Cheque Stock is also closely controlled by APACS specifications and such stock may only be obtained through APACS accredited Security Printers.
