Check printing instructions in ACH transactions

• US 10,102,508 B1
• Filed: 02/14/2014
• Issued: 10/16/2018
• Est. Priority Date: 03/23/2009
• Status: Active Grant

• Current Assignee: Yodlee Incorporated (Envestnet Incorporated)
• Original Assignee: Yodlee Incorporated (Envestnet Incorporated)
• Inventors: Williams, Gary, Hazlehurst, Peter, Iyer, Jayasree, Abad, Julieta
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US14/180,797
• Time in Patent Office: 1,705 Days
• Field of Search: 705 35, 705 39, 705 40, 705 43, 705 44, 705 45
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A computer-implemented method includes issuing a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check, receiving the transaction, and printing the check according to the instructions.

Claims

1. A computer-implemented method, comprising:

receiving, by a computer of a payor'"'"'s bank or bill pay provider, instructions from a payor to make a payment for a particular amount to a payee;

generating, by the computer of the payor'"'"'s bank or bill pay provider, data including (i) payment information from the payor to the payee and (ii) the instructions for printing a check payable to the payee; and

providing to a computer system of a receiver other than the payee, by the computer of the payor'"'"'s bank or bill pay provider, the data in a transaction on the Automated Clearing House (ACH) electronic network to cause the receiver to print a check payable to the payee.

2. The method of claim 1, wherein the instructions to make the payment are instructions to make a payment drawn on an account of the payor.

3. The method of claim 2, wherein the instructions include data identifying at least a payee, an amount to pay the payee, a routing number and an account number.

4. The method of claim 3, wherein the instructions include data identifying an address of the payee.

5. The method of claim 3, wherein the data is encrypted.

6. The method of claim 1, wherein the instructions include a cryptographically generated digital signature.

7. The method of claim 1, wherein the transaction is a single transaction and includes instructions for printing a plurality of checks payable to a single payee, the plurality of checks drawn on a plurality of accounts of different payors.

8. The method of claim 1, wherein the instructions for printing a check include instructions for printing a bank check or vendor check.

9. The method of claim 1, wherein issuing a transaction includes issuing an instruction for a warehoused transaction.

10. The method of claim 1, wherein the instructions for printing a check include instructions for printing a check at least four days after issuance of the transaction.

11. A computer program product, tangibly stored on a non-transitory machine readable medium, the product comprising instructions operable to cause a processor to:

issue a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check;

receive, by a computer of a payor'"'"'s bank or bill pay provider, instructions from a payor to make a payment for a particular amount to a payee;

generate, by the computer of the payor'"'"'s bank or bill pay provider, data including (i) payment information from the payor to the payee and (ii) the instructions for printing a check payable to the payee; and

provide to a computer system of a receiver other than the payee, by the computer of the payor'"'"'s bank or bill pay provider, the data in a transaction on the ACH electronic network to cause the receiver to print a check payable to the payee.

12. The computer program product of claim 11, wherein the instructions to make the payment are instructions to make a payment drawn on an account of the payor.

13. The computer program product of claim 12, wherein the instructions to make the payment include data identifying at least a payee, an amount to pay the payee, a routing number and an account number.

14. The computer program product of claim 13, wherein the instructions to make the payment include data identifying an address of the payee.

15. The computer program product of claim 13, wherein the data is encrypted.

16. The computer program product of claim 11, wherein the instructions to make the payment include a cryptographically generated digital signature.

17. The computer program product of claim 11, wherein the transaction is a single transaction and includes instructions for printing a plurality of checks payable to a single payee, the plurality of checks drawn on a plurality of accounts of different payors.

18. The computer program product of claim 11, wherein the instructions for printing a check include instructions for printing a bank check or vendor check.

19. The computer program product of claim 11, wherein issuing a transaction includes issuing an instruction for a warehoused transaction.

20. The computer program product of claim 11, wherein the instructions for printing a check include instructions for printing a check at least four days after issuance of the transaction.