Despite its efficiency, MICR has created several problems which include:

Question

Quizplus · Accepted Answer

MICR technology can lead to the automatic processing and clearing of checks, but it cannot identify postdated checks or mistakes made by customers while encoding checks. This can result in inadvertently paying postdated checks or processing checks with incorrect information, leading to errors and customer dissatisfaction. Therefore, both options A and B are correct.

Despite Its Efficiency, MICR Has Created Several Problems Which Include