What is a cheque number ?
- The cheque number is a 6 digit number and is always written at the bottom left-hand corner of the cheque. For the above cheque, the cheque number is ‘524000’.
- After the cheque number comes the MICR (Magnetic Ink Character Recognition) code. The 9 digits of the MICR code indicate the bank and the branch that issued the cheque.
- The first 3 digits are the city code, the next three digits are the bank code, and the last three digits are the branch code. For the above cheque, the MICR code is ‘695240002’.
- The 6 digits after the MICR code are a portion of the account number. For the above cheque, it is ‘045504’.
- And the last two digits at the bottom are the transaction ID. They indicate whether the cheque is a local cheque, or payable at par cheque.
- A local cheque can be cashed only at the issuing bank, and a payable at par cheque can be cashed at any branch of the issuing bank.
- However, post the establishment of the Core Banking System at all banks, most cheques are payable at par cheques only. For the above cheque, the transaction ID is ’31’.
- All of the above numbers are written in a special magnetic ink so that they can read with a Magnetic Character Ink Reader.