Back to Basics: Everything You Should Know about Cheque Scanners for Business

    Nov 17 2017

    Topics: Cheque Scanner

    In an age where people have come to expect instant gratification and high-tech devices, it's important for businesses of all sizes to keep up. But when you're faced with the important task of processing cheques, you need the right equipment. 

    Download our free guide for CFOs to find out how cash handling is affecting  your bottom line.

    Here, we'll help you fully understand just what cheque scanners for businesses can do and why they're so important. 

    What Is a Cheque Scanner?

    As the name suggests, a cheque scanner is designed to scan and process cheques for deposits. Depending on how many cheques your business handles in a given day, you may want to invest in one of two types of these scanners for business: high speed scanners or single feed scanners. 

    For low-volume businesses, a single feed scanner is usually a good bet. But if your business processes upwards of 50 cheques in a single business day, a high-speed scanner is the more practical option. 

    How Do Cheque Scanners Work?

    There are several different components that allow cheque scanners to work at such a fast pace. The basic process is the reader scans the front and back of the cheque, turning them into digital images to send to a computer for processing. Here's a more in-depth look at the processes that go on within these business scanners. 

    Handwriting Recognition

    After a digital image of a cheque has been created, the computer uses handwriting recognition software to analyze it. After that, the dollar amount of a check is located and converted into a digital number. Rare cases will require you to type in some of the cheque information by hand, but the vast majority of scanners today are more advanced and won't require any additional input. 

    MICR Conversion

    The Magnetic Ink Character Recognition (MICR) line at the bottom of any cheque details the routing, check, and account numbers. When a cheque is processed, the scanner will convert those printed numbers into the data required to locate a specific account and any other information necessary to make a deposit.

    Cheque Validation

    Once all of the cheque information has been converted, the scanner will work to validate all of it. In short, this means making sure all of the formatting is correct and that all of the numbers are in the correct order. If the information can't be validated, it may become necessary to inspect a cheque by hand.

    If you're looking for a way to create a more efficient schedule for your business and process cheques more quickly, you should absolutely consider high quality scanners for business as an option. These scanners and other machines like them allow businesses 100% assured accuracy for all transactions. 

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    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3

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