Personal Finance (Not Investing) • problems with "post-dated" checks?

To be useful, a bank’s OCR needs to be 99.9%+ accurate. They can reach that with printed numbers and much higher with the preprinted account and routing numbers.

Not really. If numeral and text amount don’t match just kick it out for a person or even more advanced OCR. I don’t know if they do such or need to since the text value is controlling.

That would be too slow and costly.

What % of checks have mismatch between numbers and txt?

And where the words are right but the numbers are wrong. Easiest just to OCR the numbers and only deal with the words if there is a problem. The latter would have to be handled manually by a human.

The words are legally what matters. There are good reasons for this. Harder for check writer to make a transposition error. Also more difficult for someone to alter the text amount than the numbers.

Banks might flag checks with discrepancies between the two for manual processing. But this will also require accurate OCR and manual intervention.

Btw how will the problem you mention be discovered if they dont ocr the words?

As to can’t be done manually, does anyone believe there are more handwritten checks processed everyday by banks now or 30 years ago? Yes the banks can and do have ways to deal with poor handwriting.

Statistics: Posted by LotsaGray — Sun Dec 03, 2023 9:20 pm — Replies 48 — Views 3267

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