Abstract: A magnetic stripe and magnetic ink character recognition (MICR) reader is disclosed. A longitudinally extending magnetic stripe channel in the reader housing is sized to slidingly receive a medium bearing a magnetic stripe, such as a credit card or bank card. A magnetic stripe read head in the housing reads the data as the card is slid past the head. A MICR channel in the housing is sized to slidingly receive a medium bearing magnetic ink characters, such as a check. The MICR channel is curved along one portion to interconnect with the magnetic stripe channel. A drive mechanism in the housing drives a check along the MICR channel past a magnetizing head and a magnetic ink character recognition read head until the leading edge of the check extends into the magnetic stripe channel. A processor in the housing specifies the characters embodied in the magnetic data. The drive mechanism is reversible to return the check back along the MICR channel.