Postpaid traveler's checks
First Claim
1. A method of issuing traveler'"'"'s checks by a traveler'"'"'s check seller comprising the steps of:
- distributing a plurality of traveler'"'"'s checks, a face value corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total monetary value;
receiving an account identifier identifying an account;
processing a lock against the account for a lock value based on the total monetary value; and
decreasing the lock value placed against the account, the step of decreasing based on said face value of each of said plurality of traveler'"'"'s checks.
9 Assignments
0 Petitions
Accused Products
Abstract
A system and method for issuing and clearing traveler'"'"'s checks that are paid for by credit card. A quantity of traveler'"'"'s checks having a total value are sold to a buyer. An account identifier is received from the buyer. A lock is placed against the identified account for a lock value of at least a portion of the total value. Preferably, the identified account is a credit card account. The lock value and the credit card account number are communicated to a credit card clearing house and an authorization that a lock equal to the lock value has been placed against the credit card account is then received from the credit card clearing house. Information identifying the credit card account of the buyer of each traveler'"'"'s check that is sold is communicated to the traveler'"'"'s check issuer, which stores the information in a database. When the buyer cashes a traveler'"'"'s check, the traveler'"'"'s check issuer obtains payment on the check. The identified account is debited while the lock on the account is reduced by a generally equal amount. A predetermined value based on the value of the cashed traveler'"'"'s check is communicated to the credit card clearing house, which debits the account, reduces the lock and communicates a payment credit to the traveler'"'"'s check issuer.
173 Citations
44 Claims
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1. A method of issuing traveler'"'"'s checks by a traveler'"'"'s check seller comprising the steps of:
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distributing a plurality of traveler'"'"'s checks, a face value corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total monetary value; receiving an account identifier identifying an account; processing a lock against the account for a lock value based on the total monetary value; and decreasing the lock value placed against the account, the step of decreasing based on said face value of each of said plurality of traveler'"'"'s checks. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method of managing a postpaid traveler'"'"'s check system comprising the steps of:
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providing, to a database stem, information relating to a plurality of traveler'"'"'s checks, a face value corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total monetary value, the information comprising an account identifier identifying an account against which a lock comprising a lock value has been placed, the lock value based on the total monetary value; and debiting the account while reducing the lock value by an amount based on the face value of each of said plurality of traveler'"'"'s checks. - View Dependent Claims (15, 16)
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17. A method of managing a postpaid traveler'"'"'s check system comprising the steps of:
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providing, to a database system, information relating to at least one traveler'"'"'s check that has been distributed to a user, a face value corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total monetary value, the information comprising a credit card account number identifying a credit card account against which a lock comprising a lock value has been placed, the lock value corresponding the total monetary value; determining first service fee; charging the first service fee to the identified account; debiting the account while reducing the lock value by an amount based on the face value of said at least one traveler'"'"'s check. - View Dependent Claims (18, 19)
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20. A method of buying traveler'"'"'s checks comprising the steps of:
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purchasing, from a seller, a plurality of traveler'"'"'s checks, a face value corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total value; providing to the seller an account identifier identifying an account against which a lock will be placed for an amount based on the total value; cashing at least one of said plurality of traveler'"'"'s check; receiving a debit against the account corresponding to the face value of the at least one traveler'"'"'s check; and receiving a decrease of the lock value, the decrease based on the face value of the at least one of said plurality of traveler'"'"'s checks. - View Dependent Claims (21)
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22. A method of clearing post paid traveler'"'"'s checks comprising the steps of:
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receiving a first request for a lock against an account for a lock value in an amount based on a total monetary value of a plurality of traveler'"'"'s checks issued to a user, a face value corresponding each of said plurality of traveler'"'"'s checks; and transmitting, in response to the first request, a verification of the lock value against the account; receiving a second request to decrease the lock value and to debit the account for a second amount based on the face value of at least one of said plurality of traveler'"'"'s checks, the decrease of the lock value based the face value of the at least one of said plurality of traveler'"'"'s checks; debiting the account, responsive to the second request; and decreasing the lock, responsive to the second request.
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23. A traveler'"'"'s check management system comprising:
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a memory for storing a database comprising at least one field for storing information corresponding to a plurality of traveler'"'"'s checks issued to a user, the plurality of traveler'"'"'s checks having a total monetary value, the information comprising; a unique serial number corresponding to each of the plurality of traveler'"'"'s checks, a face value corresponding to each of the plurality of traveler'"'"'s checks, and an account identifier identifying an account associated with the user; and a processing unit, coupled to the memory, initiating placement of a lock comprising a lock value based on the total monetary value by the financial clearing house against the identified account and decreasing the lock value based on the face value of the at least one of said plurality of traveler'"'"'s checks. - View Dependent Claims (24)
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25. A method of issuing and clearing traveler'"'"'s checks comprising the steps of:
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distributing a plurality of traveler'"'"'s checks, a face value and an expiration date corresponding to each of said plurality of traveler'"'"'s checks, said plurality of traveler'"'"'s checks having a total monetary value; receiving an account identifier identifying an account; processing a lock against the account for a lock value based on the total monetary value; and decreasing the lock value placed against the account based on said face value of each of said plurality of traveler'"'"'s checks. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34)
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35. A method of clearing traveler'"'"'s checks, comprising the steps of:
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providing to a database, information corresponding to a plurality of traveler'"'"'s checks, a face value corresponding to each of the plurality of traveler'"'"'s checks, the plurality of traveler'"'"'s checks having a total monetary value, the information comprising an account identifier identifying an account maintained by a financial institution, and a lock comprising a lock value placed against the account, the lock value based on the total monetary value; receiving at least one of said plurality of traveler'"'"'s checks; retrieving the account identifier corresponding to the account from the database; transmitting the face value of the received at least one of said plurality of traveler'"'"'s checks and the retrieved account identifier to the financial institution; receiving a payment related to the face value of the received traveler'"'"'s check from the financial institution; and transmitting an authorization to decrease the lock value placed against the account by an amount based on said face value of the at least one of said plurality of traveler'"'"'s checks. - View Dependent Claims (36)
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37. A method of issuing and clearing traveler'"'"'s checks comprising the steps of:
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providing, to a database, information relating to a plurality of traveler'"'"'s checks, a face value corresponding to each of the plurality of traveler'"'"'s checks, the plurality of traveler'"'"'s checks having a total monetary value, the information comprising an account identifier identifying an account corresponding to a user; communicating a request for a lock against the identified account for a lock value based on the total monetary value of the plurality of traveler'"'"'s checks that were issued to the user; receiving at least one of said plurality of traveler'"'"'s checks after a use by the user; retrieving the account identifier corresponding to the user from the database; transmitting the face value of the at least one of said plurality of traveler'"'"'s checks and the retrieved account identifier to the financial clearing house; receiving a payment related to the face value of the at least one of said plurality of traveler'"'"'s checks from the financial clearing house; and transmitting an authorization to decrease the lock value placed against the account by an amount based on said face value of the at least one of said plurality of traveler'"'"'s checks. - View Dependent Claims (38, 39, 40, 41, 42, 43, 44)
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Specification