magnetic character reader
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magnetic character reader[mag′ned·ik ¦kar·ik·tər ‚rēd·ər]
A character reader that reads special type fonts printed in magnetic ink, such as those used on bank checks, and feeds the character data directly to a computer for processing.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.