SYSTEM AND METHOD FOR PROCESSING CHECKS AND CHECK TRANSACTIONS
First Claim
1. A method for processing paper checks, comprising:
- a) receiving at a computer over a computerized network, and from a plurality of merchants, a plurality of merchant data files representing check transactions, each merchant data file including for a plurality of transactions the amount of each transaction and raw MICR information for the check used in each transaction, wherein the raw MICR information is formatted differently for at least two merchants, further wherein each merchant data file is received without an image file depicting the check;
b) for at least some received merchant data files where the formatted raw MICR information is not formated in a desired format, applying via the computer a predefined translation to convert the received formatted raw MICR information into MICR data that is formatted in the desired format;
c) receiving at the computer a plurality of image files created by scanning the checks used in the check transactions; and
d) for each said check, associating at the computer said image with transactions in the merchant data files using the raw MICR information in the desired format.
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Accused Products
Abstract
A method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check. A process for translating raw MICR data to a desired format, and for identifying the proper translation to be applied, is described.
44 Citations
10 Claims
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1. A method for processing paper checks, comprising:
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a) receiving at a computer over a computerized network, and from a plurality of merchants, a plurality of merchant data files representing check transactions, each merchant data file including for a plurality of transactions the amount of each transaction and raw MICR information for the check used in each transaction, wherein the raw MICR information is formatted differently for at least two merchants, further wherein each merchant data file is received without an image file depicting the check; b) for at least some received merchant data files where the formatted raw MICR information is not formated in a desired format, applying via the computer a predefined translation to convert the received formatted raw MICR information into MICR data that is formatted in the desired format; c) receiving at the computer a plurality of image files created by scanning the checks used in the check transactions; and d) for each said check, associating at the computer said image with transactions in the merchant data files using the raw MICR information in the desired format. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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Specification