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Disbursement system and method

  • US 5,893,080 A
  • Filed: 07/25/1995
  • Issued: 04/06/1999
  • Est. Priority Date: 07/25/1995
  • Status: Expired due to Term
First Claim
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1. A computerized payment disbursement system, comprising:

  • a. computer database storage means for storing user-defined payment disbursement criteria for a plurality of types of disbursement transactions, including an EFT type disbursement transaction;

    b. means for receiving at least one disbursement request, said request corresponding to one of said plurality of types;

    c. means for automatically generating a payment disbursement based upon said criteria and request, said generating means including means for automatically selecting from said storage means criteria corresponding to said one type; and

    d. automated diagnostic means for automatically determining whether a system failure condition exists, said diagnostic means also being for automatically preventing said EFT type disbursement transaction, if said system failure condition is determined to exist, and for automatically indicating to a user of said system existence of said system failure condition.

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