Originators of POP Entries are required to capture which three pieces of information from the MICR line?

The correct answer is based on the specific requirements for capturing information from the MICR line when processing POP (Point of Purchase) Entries. This form of ACH transaction is used for converting checks into electronic debits at the point of sale.

The three pieces of information required from the MICR line are the account number, check serial number, and routing number.

1. The account number is necessary to identify the customer’s account from which the funds will be withdrawn. Ensuring accurate account information is essential for the proper processing of the transaction.

2. The check serial number is used to identify the specific check being processed, providing a unique identifier that helps to avoid duplication and errors in transaction processing.

3. The routing number is critical for directing the transaction to the correct financial institution. It ensures that funds are transferred to the right bank.

These three pieces of information together provide the necessary details to facilitate a smooth and accurate ACH transaction from a physical check. The inclusion of these elements aligns with the operational procedures and compliance required for processing POP transactions effectively.