Negotiable instruments and systems and processing same

• US 20070241179A1
• Filed: 11/25/2003
• Published: 10/18/2007
• Est. Priority Date: 11/25/2003
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Davis, Joan-Astrid, Perez, Gladys
• Granted Patent: US 7,500,598 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• 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

Abstract

There is provided a check with additional data capture capability that in conjunction with a linked transaction card provides substantially complete coverage for card holders to conduct transactions with merchants for the payment of goods and services. The additional data capture capability enabling generation of a card statement with detailed information regarding purchases and expenditures of both check transactions and card transactions to thereby permit a card holder to accurately track, monitor, describe, and reconcile all transactions in a statement period. The check comprises first and second data entry location for identification and descriptive information about a financial transaction, account holder name adjacent to a drawer signature field and check limit adjacent to a written check amount field, as well as other check information and entry fields, including routing, account and check reference number, date, payee designation, numeric check amount and account holder and financial institution information.

Claims

1. A method for processing a check comprising the steps of:

receiving a check associated with a checking account, said check having purchase transaction data provided thereon;

entering the purchase transaction data into a predetermined data field in an electronic file;

communicating the electronic file to a card issuer; and

associating the purchase transaction data to a transaction card account linked to the checking account.

2. The method of claim 1 further comprising the step of associating said purchase transaction data in said electronic file with a second predetermined field in the electronic file use to generate a statement.

3. The method of claim 1 further comprising the step of associating said purchase transaction data in said electronic file with a second predetermined field in an electronic file used to generate a reconciliation file.

4. The method of claim 2 wherein said purchase transaction data provided on said check comprises at least one alphanumeric character.

5. The method of claim 4 wherein said data entered in said electronic file is no more than 16 characters.

6. A method of generating a statement containing information about a payment made with a check associated with a checking account, comprising the steps of:

receiving a first electronic file containing purchase transaction data obtained from the check;

mapping the purchase transaction data into a predetermined field on a second electronic file;

generating a third electronic file including said purchase transaction data from said second electronic file;

communicating at least one of the second and third electronic files to a card issuer; and

associating said purchase transaction data to a transaction card account linked to the checking account.

7. The method of claim 6 wherein said third electronic file is a statement.

8. The method of claim 6 wherein said third electronic file is a reconciliation file.

9. The method of claim 6 wherein said purchase transaction data is descriptive information.

10. The method of claim 6 wherein said purchase transaction data is identification information.

11. The method of claim 6 wherein said statement further comprises purchase transaction data from a payment made with a transaction card.

12. A check associated with a checking account comprising:

pre-printed account holder and financial institution information; and

a predetermined location for entry of purchase transaction data,

wherein the checking account is associated with a transaction card account and the purchase transaction data is processed by at least one banking financial institution and a card issuer.

13. The check of claim 12, wherein said purchase transaction data includes descriptive information or identification information.

14. The check of claim 13, wherein the check said descriptive information is selected from the group consisting of cost code information and cost center information.