System and method for electronic deposit of third-party checks by non-commercial banking customers from remote locations
First Claim
1. A system for depositing the value associated with conventional checks into the bank account of a customer payee comprising:
- an interface to a customer terminal, the customer terminal being located remotely from a bank;
an automated banking system connected to the customer terminal interface via a communication link; and
an interface to a check clearing system, the check clearing system connected to the automated banking system via a communication link, the check clearing system being located remotely from the automated banking system, wherein the automated banking system is configured such that information from a conventional check is entered into the customer terminal, and wherein the automated banking system and check clearing system are configured to effectuate deposit of the discrete value of each check into an account of the customer payee without physical receipt of the conventional check by the automated banking system.
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Accused Products
Abstract
A system and method for initiating a deposit transaction, where the depositor is a non-commercial banking customer located at a remote location, and where the item to be deposited is a paper check from a third party, payable to the depositor. The enabling system features a Remote Customer Terminal (RCT) with certain input devices, connected to a bank system. The image and/or other data sent from the RCT to the Bank of First Deposit (BOFD) may be processed by conversion to Electronic Funds Transfer (EFT), via Electronic Check Presentment (ECP), or via check reconstruction. The new system and method provide convenience and improved transaction processing speed compared to other transactions that begin with a third party check.
283 Citations
51 Claims
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1. A system for depositing the value associated with conventional checks into the bank account of a customer payee comprising:
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an interface to a customer terminal, the customer terminal being located remotely from a bank;
an automated banking system connected to the customer terminal interface via a communication link; and
an interface to a check clearing system, the check clearing system connected to the automated banking system via a communication link, the check clearing system being located remotely from the automated banking system, wherein the automated banking system is configured such that information from a conventional check is entered into the customer terminal, and wherein the automated banking system and check clearing system are configured to effectuate deposit of the discrete value of each check into an account of the customer payee without physical receipt of the conventional check by the automated banking system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 30, 31, 32)
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15-29. -29. (canceled)
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33. A system for depositing the value associated with conventional checks into the bank account of a customer payee comprising:
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an interface to a customer terminal, the customer terminal being located remotely from a bank, the customer terminal further being selectively locatable by a customer payee;
an automated banking system connected to the customer terminal interface via a communication link; and
an interface to a check clearing system, the check clearing system connected to the automated banking system via a communication link, wherein the automated banking system is configured such that information from a conventional check is entered into the customer terminal;
wherein the automated banking system and check clearing system are configured to effectuate deposit of the discrete value of each check into an account of the customer payee; and
wherein the automated banking system is configured to provide a provisional credit to the customer payee. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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45. A system for depositing the value associated with conventional checks into the bank account of a customer payee comprising:
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an interface to a customer terminal, the customer terminal being located remotely from a bank, wherein the customer payee controls access to the customer terminal;
an automated banking system connected to the customer terminal interface via a communication link, the automated banking system being located remotely from the customer terminal interface; and
an interface to a check clearing system, the check clearing system connected to the automated banking system via a communication link, the check clearing system being located remotely from the automated banking system, wherein the automated banking system is configured such that information from a conventional check is entered into the customer terminal, and wherein the automated banking system and check clearing system are configured to effectuate deposit of the discrete value of each check into a demand deposit account of the customer payee without physical receipt of the conventional check by the automated banking system. - View Dependent Claims (46, 47, 48, 49, 50, 51)
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Specification