Method and system for processing a financial transaction
First Claim
1. A system for processing a financial transaction comprising:
- a plurality of non-check processing collection sites operated on behalf of an expedited mail delivery service provider, each site operable to;
receive at least one transaction request from one or more banking customers, each transaction request comprising a financial instrument and information about a requested banking transaction, prepare a package comprising each transaction request collected during a predetermined time period, and mail the package comprising the collected transaction requests via expedited mail delivery; and
a transaction processing center operable to;
receive each package from each of the collection sites, and support the completion of the requested banking transaction associated with each transaction request by processing each transaction request for settlement by one of a clearinghouse and a bank of the respective requesting customer.
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Accused Products
Abstract
Convenient, efficient, and cost-effective processing of a financial transaction. Banking customers can drop-off financial transaction requests at any of a plurality of geographically dispersed collection sites that operate on behalf of an expedited mail delivery service. Each collection site can aggregate received transaction requests into a package to be delivered to a transaction processing center via expedited mail delivery. Each transaction request can be contained within an envelope. Utilizing unique identifying insignias on each envelope and package, the location of each envelope and package can be tracked during the expedited mail delivery. Upon receipt, the transaction processing center can process each transaction request.
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Citations
19 Claims
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1. A system for processing a financial transaction comprising:
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a plurality of non-check processing collection sites operated on behalf of an expedited mail delivery service provider, each site operable to;
receive at least one transaction request from one or more banking customers, each transaction request comprising a financial instrument and information about a requested banking transaction, prepare a package comprising each transaction request collected during a predetermined time period, and mail the package comprising the collected transaction requests via expedited mail delivery; and
a transaction processing center operable to;
receive each package from each of the collection sites, and support the completion of the requested banking transaction associated with each transaction request by processing each transaction request for settlement by one of a clearinghouse and a bank of the respective requesting customer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method for processing a financial transaction comprising the steps of:
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collecting at a plurality of non-check processing collection sites at least one transaction request from one or more banking customers, the transaction request comprising a financial instrument and information about a requested banking transaction;
at each collection site, preparing a package comprising each transaction request collected during a predetermined time period;
mailing the package comprising the collected transaction requests from each collection site to a transaction processing center via expedited mail delivery; and
responsive to receiving each package from the collection sites at the transaction processing center, processing each transaction request for settlement by one of a clearinghouse and a bank of the respective customer. - View Dependent Claims (11, 12, 13, 14)
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15. A method for processing a plurality of financial transactions comprising the steps of:
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collecting at a plurality of non-check processing collection sites from one or more banking customers an envelope with a first unique insignia identifying the envelope, each envelope comprising a transaction request comprising a financial instrument and information about a requested banking transaction;
at each collection site, preparing a package with a second unique insignia identifying the package, the package comprising each envelope collected during a predetermined time period;
associating the first unique insignia of each envelope with the second unique insignia of the package;
mailing each package comprising the collected envelopes from each collection site to a transaction processing center via expedited mail delivery;
tracking the location of each envelope during the expedited mail delivery by using the second unique insignia to track the location of each package; and
processing each transaction request in response to receiving at the transaction processing center each package from the collection sites. - View Dependent Claims (16, 17, 18, 19)
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Specification