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Electronic check presentment system

  • US 5,237,159 A
  • Filed: 07/17/1991
  • Issued: 08/17/1993
  • Est. Priority Date: 07/17/1991
  • Status: Expired due to Term
First Claim
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1. A check presentment system for use by a bank within an organization of banks to improve clearing of checks presented between partner banks within the organization, the system comprising:

  • means for capturing check information from paper checks collected by a presenting bank and storing the information in a first database;

    customer information file means for maintaining in a central file records on each partner bank participating in an electronic check clearing organization, the records including fields for storing an endpoint identification, and parameters relating to electronic check clearing;

    data processing means responsive to the customer information file means, the data processing means extracting from the first database check information for check items to be presented to a selected partner bank in response to an endpoint identification of the selected partner bank and forming an electronic cash letter data file means, including check information, summary balances and information for identifying the particular cash letter; and

    electronic means for transmitting the electronic cash letter to a partner bank for presentment of check items by means of the check information in the electronic cash letter.

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