Value tracking and reporting of automated clearing house transactions

• US 20050086136A1
• Filed: 09/29/2004
• Published: 04/21/2005
• Est. Priority Date: 09/30/2003
• Status: Active Grant

• Current Assignee: Federal Reserve Bank of Atlanta (Federal Reserve System)
• Original Assignee: Federal Reserve Bank of Atlanta (Federal Reserve System)
• Inventors: Williams, Robert, Love, Robert Anthony, Reckord-Yarde, Nesta Valerie, Mauriello, Lantanya Neale, Robertson, Susan Lynne
• Granted Patent: US 8,543,477 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Value tracking of automated clearing house (“ACH”) payments processed by an ACH operator includes receiving an ACH file for ACH processing. The ACH file comprises ACH payments originated by a remote sending point on behalf of a sending customer. A sum value of the ACH payments is added to a value of prior payments processed for the sending customer during a specified time period to obtain an accumulated payment value. The accumulated payment value is compared to a pre-established payment cap to determine whether the accumulated payment value exceeds the payment cap. The ACH payments are processed in response to a determination that the accumulated payment value does not exceed the payment cap. Whether to override the payment cap can be determined in response to a determination that the accumulated payment value exceeds the payment cap.

Claims

1. A computer-implemented method for value tracking of automated clearing house (“

ACH”

) payments processed by an ACH operator, comprising the steps of;

receiving an ACH file for ACH processing, the ACH file comprising at least one ACH payment originated by a remote sending point on behalf of a sending customer;

determining whether the at least one ACH payment creates an accumulated payment value for payments processed for the sending customer during a specified time period that exceeds a pre-established payment cap;

processing the at least one ACH payment in response to a determination that the at least one ACH payment does not create an accumulated payment value that exceeds the payment cap; and

determining whether to override the payment cap and to process the at least one ACH payment in response to a determination that the at least one ACH payment creates an accumulated payment value that exceeds the payment cap.

2. The computer-implemented method according to claim 1, wherein said step of determining whether the at least one ACH payment creates an accumulated payment value that exceeds the payment cap comprises the steps of:

adding a sum value of the at least one ACH payment to a value of prior payments processed for the sending customer during the specified time period to obtain the accumulated payment value; and

comparing the accumulated payment value to the payment cap.

3. The computer-implemented method according to claim 1, wherein said step of determining whether to exceed the payment cap comprises the steps of:

receiving approval from the sending customer to exceed the payment cap; and

processing the at least one ACH payment in response to receiving the approval.

4. The computer-implemented method according to claim 1, wherein said step of determining whether to exceed the payment cap comprises the steps of:

receiving a denial of approval from the sending customer to exceed the payment cap; and

rejecting the at least one ACH payment in response to receiving the denial of approval.

5. The computer-implemented method according to claim 1, wherein said step of determining whether to exceed the payment cap comprises the step of following default instructions from the sending customer regarding approval to exceed the payment cap.

6. The computer-implemented method according to claim 1, further comprising the steps of:

determining whether the sending customer desires value tracking of the at least one ACH payment; and

performing said method in response to a determination that the sending customer desires value tracking of the at least one ACH payment.

7. The computer-implemented method according to claim 6, wherein said step of determining whether the sending customer desires value tracking comprises identifying a data string associated with the ACH file which indicates that the sending customer desires value tracking.

8. The computer-implemented method according to claim 7, wherein the data string identifies at least one of the sending customer and the remote sending point.

9. The computer-implemented method according to claim 7, wherein the data string identifies an originator of the sending customer.

10. The computer-implemented method according to claim 6, wherein said step of determining whether the sending customer desires value tracking comprises identifying the sending customer based on a dedicated node via which the ACH operator received the ACH file from the remote sending point.

11. The computer-implemented method according to claim 1, further comprising the step of pending the ACH file prior to performing said step of determining whether the at least one ACH payment creates an accumulated payment value that exceeds the payment cap.

12. The computer-implemented method according to claim 1, wherein the ACH file comprises a plurality of ACH payments,

wherein said method further comprises the step of processing a portion of the ACH payments in response to a determination that the at least one ACH payment creates an accumulated payment value that exceeds the payment cap,

wherein the portion of the ACH payments does not create an accumulated payment value that exceeds the payment cap.

13. The computer-implemented method according to claim 1, wherein the ACH file comprises an ACH batch that comprises the at least one ACH payment.

14. The computer-implemented method according to claim 1, wherein the at least one ACH payment comprises at least one ACH credit payment and the payment cap comprises a credit payment cap.

15. The computer-implemented method according to claim 1, wherein the at least one ACH payment comprises at least one ACH debit payment and the payment cap comprises a debit payment cap.

16. The computer-implemented method according to claim 1, wherein the specified time period comprises one of a settlement date on which the ACH operator will settle the at least one ACH payment, a process date on which the ACH operator will process the at least one ACH payment, and an exposure period based on processed but unsettled payments.

17. The computer-implemented method according to claim 1, wherein the remote sending point comprises one of a third party direct depositor and a remote originator.

18. The computer-implemented method according to claim 1, wherein the sending customer comprises an originating depository financial institution.

19. A computer-readable medium having computer-executable instructions for performing the computer-implemented method of claim 1.

20. A computer-implemented method for value tracking of automated clearing house (“

ACH”

) payments processed by an ACH operator, comprising the steps of;

receiving an ACH file for ACH processing, the ACH file comprising an ACH batch that comprises at least one ACH payment originated by a remote sending point on behalf of a sending customer;

adding a sum value of the at least one ACH payment in the ACH batch to a value of payments previously processed for the sending customer to obtain an accumulated payment value;

comparing the accumulated payment value to a pre-established payment cap to determine whether the accumulated payment value exceeds the payment cap;

processing the at least one ACH payment in response to a determination that the accumulated payment value does not exceed the payment cap; and

determining whether to override the payment cap and to process the at least one ACH payment in response to a determination that the accumulated payment value exceeds the payment cap.

21. The computer-implemented method according to claim 20, wherein the ACH file comprises a plurality of ACH batches that each comprise at least one ACH payment, and

wherein the method further comprises the step of parsing the ACH file to identify one of the ACH batches that comprises the at least one ACH payment originated by the remote sending point on behalf of the sending customer.

22. The computer-implemented method according to claim 20, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving approval from the sending customer to exceed the payment cap; and

processing the at least one ACH payment in response to receiving the approval.

23. The computer-implemented method according to claim 20, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval to exceed the payment cap from the sending customer; and

rejecting the ACH batch in response to receiving the denial of approval.

24. The computer-implemented method according to claim 20, wherein the ACH batch comprises a plurality of ACH payments, and

wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval to exceed the payment cap from the sending customer; and

rejecting a portion of the ACH payments in response to receiving the denial of approval.

25. The computer-implemented method according to claim 20, wherein said step of determining whether to override the payment cap comprises the step of following default instructions from the sending customer regarding approval to exceed the payment cap.

26. The computer-implemented method according to claim 20, further comprising the steps of:

determining whether the sending customer desires value tracking of the at least one ACH payment; and

performing said method in response to a determination that the sending customer desires value tracking of the at least one ACH payment.

27. The computer-implemented method according to claim 26, wherein said step of determining whether the sending customer desires value tracking comprises identifying a data string associated with the ACH batch which indicates that the sending customer desires value tracking.

28. The computer-implemented method according to claim 27, wherein the data string identifies at least one of the sending customer and the remote sending point.

29. The computer-implemented method according to claim 27, wherein the data string identifies an originator of the sending customer.

30. The computer-implemented method according to claim 26, wherein said step of determining whether the sending customer desires value tracking comprises identifying the sending customer based on a dedicated node via which the ACH operator received the ACH file from the remote sending point.

31. The computer-implemented method according to claim 20, further comprising the step of pending the ACH batch prior to performing said comparing step.

32. The computer-implemented method according to claim 20, wherein the ACH batch comprises a plurality of ACH payments,

wherein said method further comprises the step of processing a portion of the ACH payments in response to a determination that the accumulated payment value exceeds the payment cap, and

wherein a sum value of the portion of the ACH payments added to the value of payments previously processed for the sending customer results in an accumulated payment value that does not exceed the payment cap.

33. The computer-implemented method according to claim 20, wherein the at least one ACH payment comprises at least one ACH credit payment and the payment cap comprises a credit payment cap.

34. The computer-implemented method according to claim 20, wherein the at least one ACH payment comprises at least one ACH debit payment and the payment cap comprises a debit payment cap.

35. The computer-implemented method according to claim 20, wherein the value of prior payments previously processed for the sending customer is based on prior payments processed during a specified time period.

36. The computer-implemented method according to claim 35, wherein the specified time period comprises one of a settlement date on which the ACH operator will settle the at least one ACH payment, a process date on which the ACH operator will process the at least one ACH payment, and an exposure period based on processed but unsettled payments.

37. The computer-implemented method according to claim 20, wherein the remote sending point comprises one of a third party direct depositor and a remote originator.

38. The computer-implemented method according to claim 20, wherein the sending customer comprises an originating depository financial institution.

39. A computer-readable medium having computer-executable instructions for performing the computer-implemented method of claim 20.

40. A computer-implemented method for value tracking of automated clearing house (“

ACH”

) payments processed by an ACH operator, comprising the steps of;

receiving an ACH file for ACH processing, the ACH file comprising at least one ACH debit payment originated by a remote sending point on behalf of a sending customer;

adding a sum value of the at least one ACH debit payment to a value of prior debit payments previously processed for the sending customer during a specified time period to obtain an accumulated payment value;

determining whether the accumulated payment value exceeds a pre-established debit payment cap; and

rejecting the at least one ACH debit payment in response to a determination that the accumulated payment value exceeds the payment cap.

41. The computer-implemented method according to claim 40, wherein said rejecting step comprises the steps of:

determining whether to override the payment cap and to process the at least one ACH debit payment in response to a determination that the accumulated payment value exceeds the payment cap; and

rejecting the at least one ACH debit payment in response to a determination not to override the payment cap and to process the at least one ACH debit payment.

42. The computer-implemented method according to claim 40, further comprising the step of processing the at least one ACH debit payment in response to a determination that the accumulated payment value does not exceed the payment cap.

43. The computer-implemented method according to claim 41, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval from the sending customer to exceed the payment cap; and

rejecting the at least one ACH debit payment in response to receiving the denial of approval.

44. The computer-implemented method according to claim 41, wherein the ACH file comprises an ACH batch that comprises the at least one ACH debit payment.

45. The computer-implemented method according to claim 44, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval from the sending customer to exceed the payment cap; and

rejecting the ACH batch in response to receiving the denial of approval.

46. The computer-implemented method according to claim 44, wherein the ACH batch comprises a plurality of ACH debit payments, and

wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval from the sending customer to exceed the payment cap; and

rejecting a portion of the ACH batch in response to receiving the denial of approval, the portion comprising ACH debit payments that cause the accumulated value to exceed the debit payment cap when added to the value of prior debit payments.

47. The computer-implemented method according to claim 41, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving approval from the sending customer to exceed the payment cap; and

processing the at least one ACH debit payment in response to receiving the approval.

48. The computer-implemented method according to claim 41, wherein said step of determining whether to override the payment cap comprises the step of following default instructions from the sending customer regarding approval to exceed the payment cap.

49. The computer-implemented method according to claim 40, wherein the ACH file comprises a plurality of ACH batches that each comprise at least one ACH debit payment, and

wherein the method further comprises the step of parsing the ACH file to identify one of the ACH batches that comprises the at least one ACH debit payment originated by a remote sending point on behalf of the sending customer.

50. The computer-implemented method according to claim 40, further comprising the steps of:

determining whether the sending customer desires value tracking of the at least one ACH debit payment; and

performing said method in response to a determination that the sending customer desires value tracking of the at least one ACH debit payment.

51. The computer-implemented method according to claim 50, wherein said step of determining whether the sending customer desires value tracking comprises identifying a data string associated with the ACH file which indicates that the sending customer desires value tracking.

52. The computer-implemented method according to claim 51, wherein the data string identifies at least one of the sending customer and the remote sending point.

53. The computer-implemented method according to claim 51, wherein the data string identifies an originator of the sending customer.

54. The computer-implemented method according to claim 50, wherein said step of determining whether the sending customer desires value tracking comprises identifying the sending customer based on a dedicated node via which the ACH operator received the ACH file from the remote sending point.

55. The computer-implemented method according to claim 40, further comprising the step of pending the ACH file prior to performing said step of determining whether the accumulated payment value exceeds the debit payment cap.

56. The computer-implemented method according to claim 40, wherein the specified time period comprises one of a settlement date on which the ACH operator will settle the at least one ACH debit payment, a process date on which the ACH operator will process the at least one ACH debit payment, and an exposure period based on processed but unsettled payments.

57. The computer-implemented method according to claim 40, wherein the remote sending point comprises one of a third party direct depositor and a remote originator.

58. The computer-implemented method according to claim 40, wherein the sending customer comprises an originating depository financial institution.

59. A computer-readable medium having computer-executable instructions for performing the computer-implemented method of claim 40.

60. A computer-implemented method for value tracking of automated clearing house (“

ACH”

) payments processed by an ACH operator, comprising the steps of;

receiving an ACH file for ACH processing, the ACH file comprising at least one ACH payment originated by a sending point on behalf of a sending customer;

determining whether a value of the at least one ACH payment exceeds a pre-established payment cap; and

determining whether to override the payment cap and to process the at least one ACH payment in response to a determination that the value of the at least one ACH payment exceeds the payment cap.

61. The computer-implemented method according to claim 60, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving approval from the sending customer to exceed the payment cap; and

processing the at least one ACH payment in response to receiving the approval.

62. The computer-implemented method according to claim 60, wherein said step of determining whether to override the payment cap comprises the step of following default instructions from the sending customer regarding approval to override the payment cap.

63. The computer-implemented method according to claim 60, wherein said step of determining whether to override the payment cap comprises the steps of:

receiving a denial of approval from the sending customer to exceed the payment cap; and

rejecting the at least one ACH payment in response to receiving the denial of approval.

64. The computer-implemented method according to claim 60, further comprising the step of processing the at least one ACH payment in response to a determination that the value of the at least one ACH payment does not exceed the payment cap.

65. The computer-implemented method according to claim 60, wherein the sending customer comprises an originating depository financial institution.

66. The computer-implemented method according to claim 60, wherein the sending point comprises a remote sending point.

67. The computer-implemented method according to claim 60, wherein said step of determining whether the value of the at least one ACH payment exceeds the payment cap comprises the steps of:

adding the value of the at least one ACH payment to a value of payments previously processed for the sending customer to obtain an accumulated payment value;

determining whether the accumulated payment value exceeds the payment cap; and

determining that the value of the at least one ACH payment exceeds the payment cap in response to a determination that the accumulated payment value exceeds the payment cap.

68. The computer-implemented method according to claim 67, wherein the value of prior payments is based on payments processed during a specified time period.

69. The computer-implemented method according to claim 68, wherein the specified time period comprises one of a settlement date on which the ACH operator will settle the at least one ACH payment, a process date on which the ACH operator will process the at least one ACH payment, and an exposure period based on processed but unsettled payments.

70. The computer-implemented method according to claim 60, wherein the ACH file comprises a plurality of ACH payments,

wherein said method further comprises the step of processing a portion of the ACH payments in response to a determination that the value of the at least one ACH payment exceeds the payment cap, and

wherein a value of the portion of the ACH payments does not exceed the payment cap.

71. The computer-implemented method according to claim 60, further comprising the steps of:

determining whether the sending customer desires value tracking of the at least one ACH payment; and

performing said method in response to a determination that the sending customer desires value tracking of the at least one ACH payment.

72. The computer-implemented method according to claim 60, wherein the at least one ACH payment comprises at least one ACH credit payment and the payment cap comprises a credit payment cap.

73. The computer-implemented method according to claim 60, wherein the at least one ACH payment comprises at least one ACH debit payment and the payment cap comprises a debit payment cap.

74. The computer-implemented method according to claim 60, wherein the ACH file comprises an ACH batch that comprises the at least one ACH payment.

75. The computer-implemented method according to claim 60, wherein the remote sending point comprises one of a third party direct depositor and a remote originator.

76. A computer-readable medium having computer-executable instructions for performing the computer-implemented method of claim 60.