MICR inks for printing
MICR magnetic inks are inks containing iron oxides used for coding simple information in a magnetic form on MICR (Magnetic Ink Character Recognition) printouts used in banking.
Depending on the required amount and longevity of information, two types of inks are used: the one with a high coersion (3600 to 6000 ersted; these require bigger magnetic force to encode or delete information; they are used when it is needed to avoid an accidental loss of data due to the presence of magnetic field) and the one with a low coersion (300 ersted; these require medium magnetic force to encode or delete information; they are used for temporary storage of information which can be easily removed by using magnetic field).
They are used for printing cheques and other banking securities.
They ensure the authenticity of documents and allow scanning devices to quickly read magnetically encoded information.