×

Method and apparatus for recording magnetic information on traveler's checks

  • US 6,003,763 A
  • Filed: 12/29/1995
  • Issued: 12/21/1999
  • Est. Priority Date: 12/29/1995
  • Status: Expired due to Term
First Claim
Patent Images

1. A method for preventing fraudulent use of a cash document of the type having a first face with a first region for containing a signature, a second region for containing a countersignature, and a third region containing a denomination value, said method comprising the steps of:

  • encoding a unique identifying code in a magnetic stripe prior to issuance of said cash document, said magnetic stripe positioned on a face of said cash document and parallel to one edge of said cash document;

    recording in a database at a central location said unique identifying code and a status code indicating a status at issuance of said cash document to a bearer;

    altering said status code of said cash document in said database if the status of said cash document changes prior to encashment;

    swiping said cash document through a swipe reader at a point of encashment, said swipe reader having means to read said unique identifying code encoded in said magnetic stripe;

    transmitting said unique identifying code to said central location;

    based on said transmitted unique identifying code, determining from said database said status of said cash document;

    transmitting a status indication from said central location to said point of encashment;

    receiving said status indication at said point of encashment; and

    processing said cash document dependent on said status indication.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×