This Day in History: September 14

Today: December 4, 2016
Bank of America Accepts the ERMA System

September 14, 1959

Bank of America Accepts the ERMA System

Bank of America accepts the ERMA (Electronic Recording Method of Accounting) system. This revolutionary system digitized checking for the Bank of America by creating a computer-readable font. A special scanner read account numbers preprinted on checks in magnetic ink. The system was developed at the Stanford Research Institute in Menlo Park, California.