Many have claimed over the past ten or so years that MICR check printing is going the way of the Dodo. Their argument is that technology will push check writing out. New forms of payment processing like PayPal or ACH or just basic EFT will fully usurp the space that check payments currently fill. But, despite these assurances, MICR check printing remains a staple of B2B transactions.
What’s the reason? For some it is habit. It’s hard to teach old dogs new tricks, especially when those old dogs are 100 year old companies that have been writing checks for decades. Even more so, these old dogs’ accounting departments and processes are centered on MICR check printing. Change would require restructuring accounting and nobody wants to do that. For others it is the fear of the unknown. They’ve never used ACH and don’t trust PayPal. For them, why fix something that ain’t broke? And they have a point.
But there is a bigger reason that MICR check printing is still around. It’s easy and secure. There is security in the simplicity of the check process, as writing, signing and sending checks leaves little room for fraud. But even still, check fraud does exist. By simply stealing an unused box of preprinted check stock, financial hooligans can get your address, account number and routing number. Also check forgery, by the false duplication of a company’s checks can be a security issue. There are other security issues that actually exist within companies. Personnel issues and setting employee rights within the accounting process can affect bank account security.
The good news is that PrintBoss solves all of these MICR check printing security issues and more. By allowing you to print QuickBooks checks on blank check stock, where none of your bank information appears on the check until you print it, storing checks become not only safer but less expensive. By using toner grip paper with micro-printing and printing watermark images on the checks makes forgery impossible. Also, PrintBoss allows you to set employee rights within each account. So use one check stock for all your bank accounts and be more secure doing it.
MICR check printing will probably someday become extinct but more like fossil fuels than the Dodo. It will take a long while to restructure the system and habits of corporations. In the meantime, make MICR check printing easier, cheaper, and more secure by using PrintBoss. The great thing is that if you do want to start to transition to other payment methods like ACH or ePay, PrintBoss can help you do that too.
Try our 30-day free trial to see how PrintBoss can help your business. Looking for MICR toner, click here to view our wide selection of HP toners (please note you will be taken to wellspringsoftware.com).