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Electronic bill pay system for consumers to generate messages directing financial institutions to pay a biller's bill

  • US 6,408,284 B1
  • Filed: 06/11/1999
  • Issued: 06/18/2002
  • Est. Priority Date: 11/01/1993
  • Status: Expired due to Term
First Claim
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1. A computer readable medium including at least computer readable code thereon for allowing a consumer to pay a bill, said computer readable medium comprising:

  • computer readable code to forward a bill pay order to a first processor, said bill pay order including information identifying a biller, an amount owed, and a consumer-biller account number;

    computer readable code to determine whether said consumer has sufficient funds to cover said amount owed;

    computer readable code to compare said information identifying said biller to a local biller file to determine a biller financial institution identification number for a financial institution designated to receive funds for said biller;

    computer readable code to generate a payment message including said information identifying said biller, said amount owed, said consumer-biller account number, and said biller financial institution identification number;

    computer readable code to forward said payment message to a network if said computer readable code to determine whether said consumer has sufficient funds is satisfied; and

    computer readable code to route said payment message to said biller financial institution over said network using said biller financial institution identification number.

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