Print & Cheques Now Inc., a Calgary-based cheque printer holding CPA Self-Accredited Printer #1010 status, has published a guide aimed at demystifying the technical requirements for business cheques in Canada. The guide, which focuses on Payments Canada Standard 006, is designed to help accountants, controllers, and business owners understand how MICR encoding, cheque layout, and security features impact automated processing at financial institutions.
The importance of this guide lies in the fact that even a cheque with correct account and transit numbers can be rejected if its MICR line is improperly printed or positioned. Standard 006 specifies a 5/8-inch clear band at the bottom of the cheque, with specific zones for the E-13B MICR characters. Any intrusion of logos, signatures, or other printing into this band can cause processing failures. The guide breaks down these specifications, emphasizing the need for magnetic ink and precise signal strength, which are not visible to the human eye.
For businesses that print cheques in-house, the guide underscores the necessity of pre-production testing. Payments Canada recommends submitting samples to financial institutions to ensure compliance. Print & Cheques Now itself demonstrates its commitment to compliance by holding self-accreditation and offering a Bank Acceptance Guarantee, which promises a reprint or refund if a Canadian financial institution rejects their cheques.
Beyond MICR, the guide also highlights security features that Print & Cheques Now incorporates into its cheques, such as holograms, thermochromic ink, and microprinting. These features are regulated by Standard 006 to ensure they do not interfere with MICR processing or cheque imaging. The company's cheques are compatible with popular accounting software like QuickBooks and Sage 50, and are accepted by major banks and credit unions across Canada.
Jon Gilchrist, Owner of Print & Cheques Now, said, "Most business owners never look at the standard behind a cheque until one gets rejected. The person ordering cheques for a company is usually an accountant or an office manager, not a compliance specialist, so we wrote this guide in plain language instead of leaving that standard buried in a technical document only a printer would read."
This initiative is significant because it bridges the knowledge gap for businesses that rely on cheques for payments. Understanding these technical nuances can prevent costly errors, delays, and potential fraud. By providing this information, Print & Cheques Now not only positions itself as a trusted expert but also contributes to the overall efficiency and security of the Canadian payment system.
