METHOD AND SYSTEM FOR PROCESSING FINANCIAL INSTRUMENT DEPOSITS PHYSICALLY REMOTE FROM A FINANCIAL INSTITUTION
First Claim
1. A method for deposit processing at a central system a plurality of checks deposited at a remote site with accompanying deposit information, comprising:
- the central system receiving deposit information for a plurality of different deposit transactions, with the deposit information including a deposit account designation to a bank of first deposit, electronic check data and check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit;
the central system transmitting the electronic check data for the deposit transactions to the bank of first deposit; and
the central system transmitting electronic check data and the check image data directly or indirectly to a maker bank or a Federal Reserve Bank or a correspondent bank in a transmission having a transmission path that bypasses the MICR capture, deposit accounting, cash management, and float processing systems of the bank of first deposit for that deposit transaction.
2 Assignments
0 Petitions
Accused Products
Abstract
A system that includes computer hardware, computer software, apparatus, and methodology that enables individuals, businesses, and all types of organizations (both for profit and non-profit) to capture and securely transmit check images (including, but not limited to, personal checks, business checks, travelers checks, money orders, merchant coupons, food coupons, line of credit checks, etc.), deposit information, and other information from remote locations (i.e., locations that could include the financial institution'"'"'s remote locations, other financial institution'"'"'s locations, businesses, private residences, etc.), for the purpose of having those checks credited to the depositing individual'"'"'s or organization'"'"'s bank account(s) and having the check images (and/or physical checks) entered into the bank check clearing channels for ultimate delivery to the maker bank for payment out of the maker'"'"'s account.
114 Citations
2 Claims
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1. A method for deposit processing at a central system a plurality of checks deposited at a remote site with accompanying deposit information, comprising:
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the central system receiving deposit information for a plurality of different deposit transactions, with the deposit information including a deposit account designation to a bank of first deposit, electronic check data and check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit; the central system transmitting the electronic check data for the deposit transactions to the bank of first deposit; and the central system transmitting electronic check data and the check image data directly or indirectly to a maker bank or a Federal Reserve Bank or a correspondent bank in a transmission having a transmission path that bypasses the MICR capture, deposit accounting, cash management, and float processing systems of the bank of first deposit for that deposit transaction.
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2. A system for deposit processing at a central system a plurality of checks with accompanying deposit information, comprising:
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at least one processor operatively coupled to electronic storage, wherein the at least one processor includes therein, or among them if more than one processor, the following components a component of the central system for receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation in a bank of first deposit, electronic check data and original check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit; a computer of the central system comparing at least one deposit parameter that is not an account number to an individual customer limit in advance of transmitting any of the deposit information to the bank of first deposit; a component for sending a communication if the individual customer limit is exceeded; a component of the central system performing at least one of sorting the received deposit information and error checking the received deposit information in advance of transmitting any of the deposit information to the bank of first deposit; a component of the central system transmitting at least some of the deposit information for each different deposit transaction to the bank of first deposit; a component of the central system transmitting electronic check data and check image data directly or indirectly to the maker bank or to a Federal Reserve Bank or a correspondent bank, or to a print site for ultimate delivery in hard copy to the maker bank, with this transmitting bypassing the MICR capture, deposit accounting, cash management, float processing or other systems of the bank of first deposit.
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Specification