Minotaur now has the ability to configure your entire cheque to print on blank cheque paper. This means that Minotaur can produce the standard MICR line, which contains your bank and bank account information, at the bottom of cheques, in addition to printing the name and address of your company and bank at the top of the cheque. Also included is the standard information of who the cheque is to, and for what amount.
Essentially, you start with stock blank cheque paper and Minotaur will produce a completed cheque ready for signing in one printing.
This offers many advantages to purchasing numbered cheque stock paper. For one, it means that you can reprint a cheque that gets stuck in your printer. You don’t have to cancel and reissue a cheque under a new number just because the paper jammed, ruining the cheque with the original number. It also means that if you have multiple companies or holding companies that issue very few cheques, you don’t have to buy, and keep on hand, a large supply of blank numbered cheques for each company and bank account.
Although photo depositing is rapidly becoming the norm (meaning the kind of ink used to print the cheque becomes irrelevant), the Canadian Payments Association still says that magnetic ink should be used to print cheques that may be read by an electronic cheque processing machine (if deposited in person at a bank). However, we have been using a regular printer to print our cheques and so far have had no issues with them being processed by our suppliers.
For details on the official requirement, you can visit the Payments Canada website, click on FAQs, and choose, “Can I print my own cheques?” for more information about these requirements. The Payments Canada requirements do NOT mean that you will have to buy a special printer to print your cheques. There are magnetic toner cartridges for many brands of laser printers. Once you are equipped, you can enjoy the convenience and ease of Minotaur’s new cheque printing feature.
If you already have a cheque design set up with Minotaur for existing pre-printed cheques, we can reformat the design (prp) to one that works on blank cheques against your service hours.
Where can you buy blank cheques? We get ours from Print Now in Alberta. If you select “Minotaur Software” as your software program BEFORE you chose cheque design and colour, you can choose whichever colour or configuration you would like. If you select the colour and design first and put in Minotaur Software after, it will change to the default cheque which is blue with the stub, cheque, stub. If you have any issues, just give them a call as they are great.
Talk to your Minotaur Project Manager today about having the option to print on blank cheque paper with your Minotaur system.