System and method for processing duplicative electronic check return files

• US 20080162321A1
• Filed: 11/06/2007
• Published: 07/03/2008
• Est. Priority Date: 11/07/2006
• Status: Abandoned Application

• Current Assignee: Federal Reserve Bank of Richmond (Federal Reserve System)
• Original Assignee: Federal Reserve Bank of Richmond (Federal Reserve System)
• Inventors: Martin, Steven D., Rodrigues, Richard, Breeden, Benjamin T., Rachek, Timothy
• Application Number:
  US11/983,032
• Publication Number:
  US 20080162321A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Processing duplicate items in image cash letter (“ICL”) return files for efficient handling. A duplicate item processing module can receive ICL return files comprising items representing duplicate electronic checks. The duplicate item processing module can determine whether the processing entity erroneously presented the item more than once. The duplicate item processing module can also determine whether the depositing institution erroneously deposited the item more than once for processing. Based on the determination of the source of the error, the duplicate item processing module can make a correction in its own records and/or forward the ICL return file with the duplicate item to the depositing institution.

Claims

1. A computer-implemented method for processing duplicate electronic checks, comprising the steps of:

receiving a return ICL file comprising a duplicate item;

comparing the duplicate item to a record of items previously presented for payment;

if the duplicate item matches more than one item in the record of items previously presented for payment, suspending the return ICL file for further analysis; and

if the duplicate item does not match more than one item in the record of items previously presented for payment, forwarding the return ICL file to a depositing institution for further processing.

2. The computer-implemented method of claim 1, wherein the step of suspending the return ICL file for further analysis comprises comparing the duplicate item to a record of items previously deposited for processing.

3. The computer-implemented method of claim 2, further comprising the steps of:

if the duplicate item matches more than one item in the record of items previously deposited for processing, forwarding the return ICL file to the depositing institution for further processing;

or

if the duplicate item does not match more than one item in the record of items previously deposited for processing, continue suspending the return ICL file for further analysis.

4. The computer-implemented method of claim 1, wherein the return ICL file includes a designation indicating that it comprises at least one duplicate item.

5. The computer-implemented method of claim 1, wherein the return ICL file is received from a receiving institution.

6. The computer-implemented method of claim 5, further comprising the step of notifying the receiving institution of the disposition of the return ICL file.

7. A computer-implemented method for processing duplicate electronic checks, comprising the steps of:

receiving a return ICL file comprising a duplicate item;

comparing the duplicate item to a record of items previously received for processing;

if the duplicate item matches more than one item in the record of items previously deposited for processing, forwarding the return ICL file to a depositing institution; and

if the duplicate item does not match more than one item in the record of items previously deposited for processing, suspending the return ICL file for further analysis.

8. The computer-implemented method of claim 7, wherein the return ICL file includes a designation indicating that it comprises at least one duplicate item.

9. The computer-implemented method of claim 7, wherein the return ICL file is received from a receiving institution.

10. The computer-implemented method of claim 9, further comprising the step of notifying the receiving institution of the disposition of the return ICL file.

11. The computer-implemented method of claim 7, further comprising the step of, after completing the further analysis, forwarding the return ICL file to the depositing institution.

12. A computer-implemented method for processing duplicate electronic checks, comprising the steps of:

receiving a return ICL file comprising a duplicate item;

comparing the duplicate item to a record of items previously presented for payment;

if the duplicate item does not match more than one item in the record of items previously presented for payment, forwarding the return ICL file to a depositing institution;

if the duplicate item matches more than one item in the record of items previously presented for payment, comparing the duplicate item to a record of items previously deposited for processing;

if the duplicate item matches more than one item in the record of items previously deposited for processing, forwarding the return ICL file to the depositing institution; and

if the duplicate item does not match more than one item in the record of items previously deposited for processing, suspending the return ICL file for further analysis.

13. The computer-implemented method of claim 12, wherein the step of suspending the return ICL file for further analysis comprises the steps of:

terminating the return ICL file and adjusting a settlement record for the duplicate item.

14. The computer-implemented method of claim 12, wherein the return ICL file includes a designation indicating that it comprises at least one duplicate item.

15. The computer-implemented method of claim 12, wherein the return ICL file is received from a receiving institution.

16. The method of claim 15, further comprising the step of notifying the receiving institution of the disposition of the return ICL file.

17. A computer-implemented system for processing duplicate electronic checks, comprising:

a check processing system operable for processing items in an ICL file for payment or presentment to a receiving institution, the check processing system comprising a first database of records of items previously presented to the receiving institution and a second database of records of items previously deposited with the check processing system for processing;

a duplicate item processing module operable for receiving from a receiving institution computer a return ICL file comprising a duplicate item and for comparing the duplicate item to the first database of records of items previously presented and the second database of records of items previously deposited with the check processing system for processing.

18. The computer-implemented system of claim 17 wherein the items in the second database of records of items previously deposited with the check processing system for processing were received from a depositing institution computer.

19. The computer-implemented system of claim 17, wherein the duplicate item processing module is further operable for transmitting the return ICL file comprising the duplicate item to a depositing institution computer when the duplicate item matches more than one item in the second database of records of items previously deposited with the check processing system for processing.