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I read that you can print your own checks, but many banks will not accept or place fines on checks which don't have the routing and account number not written in magnetic ink. My related questions about this:

  1. Is this still true?
  2. Do the Federal Credit Unions have standardized rules on the requirements of checks, and fees/fines etc.?
  3. In either case, where can one find such information on bank websites?
  4. Which bank determines these rules? The payee's bank where it will be deposited by the depositor, or the payer's bank whose name appears on the check?
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Is this still true?

Likely yes. Checks must have a readable MICR information. Fraction routing number however is not required any more. While you're allowed to use any piece of paper to write checks in theory, in practice checks without MICR cannot be processed automatically, that's why the additional fees and costs.

Do the Federal Credut Unions have standardized rules on the requirements of checks, and fees/fines etc.?

The requirements on the MICR are federal, and all the banks adhere. Fees and fines are per bank, you can find them in the fees disclosure.

In either case, where can one find such information on bank websites?

See above.

Which bank determines these rules? The payees bank where it will be deposited by the depositor or the payers bank whose name appears on the check?

ANSI standardized the MICR, American Bankers Association (ABA), standardized its usage in the US. Here's more details on MICR.

  • 5 years later, is this still true? – Mehrdad Dec 9 '17 at 8:47

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