Method and system for processing financial instrument deposits physically remote from a financial institution

• US 20050021466A1
• Filed: 08/10/2004
• Published: 01/27/2005
• Est. Priority Date: 04/28/2000
• Status: Active Grant

• Current Assignee: PPS Data LLC (Zions Bancorporation, N.A.)
• Original Assignee: Zions Bancorporation, N.A.
• Inventors: Titus, William Ronald, Buchanan, Danne L.
• Granted Patent: US 7,440,924 B2
• Time in Patent Office: Days
• US Class Current: 705/42
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

A system that includes computer hardware, computer software, apparatus, and methodology that enables individuals, businesses, and all types of organizations (both for profit and non-profit) to capture and securely transmit check images (including, but not limited to, personal checks, business checks, travelers checks, money orders, merchant coupons, food coupons, line of credit checks, etc.), deposit information, and other information from remote locations (i.e., locations that could include the financial institution'"'"'s remote locations, other financial institution'"'"'s locations, businesses, private residences, etc.), for the purpose of having those checks credited to the depositing individual'"'"'s or organization'"'"'s bank account(s) and having the check images (and/or physical checks) entered into the bank check clearing channels for ultimate delivery to the maker bank for payment out of the maker'"'"'s account.

Claims

1. A method for deposit processing at a central site a plurality of original checks deposited at a remote site with accompanying deposit information, comprising:

the central site receiving deposit information for a plurality of different deposit transactions, with the deposit information for each of the different deposit transactions including a deposit account designation, electronic check data and original check image data for at least one check to be deposited;

a computer at the central site comparing at least one deposit parameter that is not an account number to an individual customer limit;

sending a notice if the individual customer limit is exceeded;

the central site receiving endorsed and/or voided check image data;

the central site associating the endorsed and/or voided check image data with the original check image data; and

the central site transmitting electronic check data and the original check image data and/or the endorsed and/or voided check image data initially directly or indirectly to a maker bank or a print site.

2. The method as defined in claim 1, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is a customer monetary item limit.

3. The method as defined in claim 1, wherein the deposit parameter is a total monetary amount of a deposit in the deposit information and the individual customer limit is a customer deposit monetary limit.

4. The method as defined in claim 1, wherein the deposit parameter is a monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item limit.

5. The method as defined in claim 1, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

6. The method as defined in claim 1, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

7. The method as defined in claim 1, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

8. The method as defined in claim 1, wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer monetary limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limits.

9. The method as defined in claim 1,

wherein the central site is not a bank of deposit for monetary items in the deposit information for a plurality of the monetary items,

wherein the deposit account designation for each of a plurality of the checks is to a different remote bank of first deposit;

and

sending each one of a plurality of the different deposit transactions to a respective different bank of first deposit.

10. The method as defined in claim 1, further comprising the steps of:

determining if the maker bank requires a hard copy of the check; and

if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction; and

if it does not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

11. The method as defined in claim 1, further comprising the steps of:

determining if the maker bank requires a hard copy of the check;

if it does, printing at the central site a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank, but not via the bank of first deposit for that deposit transaction; and

if not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

12. The method as defined in claim 1, further comprising the step of determining if a bank of first deposit is a maker bank for the original check;

and

if it is the maker bank, then determining if the maker bank requires a hard copy of the check;

if the maker bank does require a hard copy of the check, then causing a hard copy of the check to be printed; and

if the maker bank does not require a hard copy of the check, then sending the check image data to the maker bank.

13. The method as defined in claim 1, further comprising

receiving return check image data for a return check coupled with a reference key for an original deposit transaction.

14. The method as defined in claim 13, further comprising

sending the return check image data with the reference key directly or indirectly to the maker bank for re-presentment.

15. A program product for deposit processing at a central site a plurality of original checks deposited at a remote site with accompanying deposit information, the program product comprising:

a set of computer usable media having computer readable program code embodied therein to be executed by a computer, the computer readable program code, when executed, causing a machine to perform the following method steps

the central site receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation, electronic check data and original check image data for at least one check to be deposited;

the central site comparing at least one deposit parameter that is not an account number to an individual customer limit;

sending a notice if the individual customer limit is exceeded;

the central site receiving endorsed and/or voided check image data;

the central site associating the endorsed and/or voided check image data with the original check image data; and

the central site transmitting electronic check data and the original check image data and/or the endorsed and/or voided check image data initially directly or indirectly to a maker bank or a print site.

16. The program product as defined in claim 15, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is a customer monetary item limit.

17. The program product as defined in claim 15, wherein the deposit parameter is a total monetary amount of a deposit in the deposit information and the individual customer limit is a customer deposit monetary limit.

18. The program product as defined in claim 15, wherein the deposit parameter is a monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item limit.

19. The program product as defined in claim 15, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

20. The program product as defined in claim 15, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

21. The program product as defined in claim 15, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

22. The program product as defined in claim 15., wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

23. The program product as defined in claim 15,

wherein the central site is not a bank of deposit for monetary items in the deposit information for a plurality of the monetary items,

wherein the deposit account designation for each of a plurality of the checks is to a different remote bank of first deposit;

and further comprising program code for

sending each one of a plurality of the different deposit transactions to a respective different bank of first deposit.

24. The program product as defined in claim 15, further comprising program code for the steps of:

determining if the maker bank requires a hard copy of the check; and

if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction; and

if it does not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

25. The program product as defined in claim 15, further comprising program code for the steps of:

determining if the maker bank requires a hard copy of the check;

if it does, printing at the central site a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank, but not via the bank of first deposit for that deposit transaction; and

if not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

26. The program product as defined in claim 15, further comprising program code for the step of determining if a bank of first deposit is a maker bank for the original check;

and

if it is the maker bank, then determining if the maker bank requires a hard copy of the check;

if the maker bank does require a hard copy of the check, then causing a hard copy of the check to be printed; and

if the maker bank does not require a hard copy of the check, then sending the check image data to the maker bank.

27. The program product as defined in claim 15, further comprising

receiving return check image data for a return check coupled with a reference key for an original deposit transaction.

28. A system for deposit processing at a central site a plurality of original checks deposited at a remote site with accompanying deposit information, comprising:

an electronic storage; and

a set of processors that use the electronic storage and include among them the following components

a component at a central site receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation, electronic check data and original check image data for at least one check to be deposited;

a component at the central site for comparing at least one deposit parameter that is not an account number to an individual customer limit;

a component at the central site for sending a notice if the individual customer limit is exceeded;

a component at the central site receiving endorsed and/or voided check image data;

a component at the central site for associating the endorsed and/or voided check image data with the original check image data; and

a component at the central site for transmitting electronic check data and the original check image data and/or the endorsed and/or voided check image data initially directly or indirectly to a maker bank or a print site.

29. The system as defined in claim 28, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is a customer monetary item limit.

30. The system as defined in claim 28, wherein the deposit parameter is a total monetary amount of a deposit in the deposit information and the individual customer limit is a customer deposit monetary limit.

31. The system as defined in claim 28, wherein the deposit parameter is a monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item limit.

32. The system as defined in claim 28, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

33. The system as defined in claim 28, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

34. The system as defined in claim 28, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

35. The system as defined in claim 28, wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer monetary item limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer deposit monetary limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item limit, and a number of deposits and the individual customer limit is a number of deposits limit.

36. The system as defined in claim 28, wherein the central site is not a bank of deposit for monetary items in the deposit information for a plurality of the monetary items,

wherein the deposit account designation for each of a plurality of the checks is to a different remote bank of first deposit;

and further comprising

a component for sending each one of a plurality of the different deposit transactions to a respective different bank of first deposit.

37. The system as defined in claim 28, further comprising:

a component for determining if the maker bank requires a hard copy of the check; and

a component for, if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction; and

a component for, if it does not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

38. The system as defined in claim 28, further comprising:

a component for determining if the maker bank requires a hard copy of the check;

a component for, if it does, printing at the central site a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank, but not via the bank of first deposit for that deposit transaction; and

a component for, if not, sending the check image data directly or indirectly to the maker bank, but not via the bank of first deposit for that deposit transaction.

39. The system as defined in claim 28, further comprising:

a component for determining if a bank of first deposit is a maker bank for the original check; and

a component for, if it is the maker bank, then determining if the maker bank requires a hard copy of the check;

a component for, if the maker bank does require a hard copy of the check, then causing a hard copy of the check to be printed; and

a component for, if the maker bank does not require a hard copy of the check, then sending the check image data to the maker bank.

40. The system as defined in claim 28, further comprising

a component for receiving return check image data for a return check coupled with a reference key for an original deposit transaction.

41. The system as defined in claim 40, further comprising

a component for sending the return check image data with the reference key directly or indirectly to the maker bank for re-presentment.