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System for authenticating and processing of checks and other bearer documents

  • US 7,016,524 B2
  • Filed: 03/18/2002
  • Issued: 03/21/2006
  • Est. Priority Date: 04/14/1994
  • Status: Expired due to Fees
First Claim
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1. A method for processing a bearer document comprising the steps of:

  • (a) affixing a first encrypted symbol upon the document;

    (b) affixing a second encrypted symbol to a deposit slip;

    (c) upon submission of the deposit slip, scanning the deposit slip, thereby decoding the second encrypted symbol;

    (d) identifying an account to be settled using information obtained from the second encrypted symbol;

    (e) upon submission by a bearer of said document for processing,(i) scanning said first symbol thereby decoding information contained in said first symbol wherein said first symbol contains account information, authenticity information and bearer information,(ii) adjusting a balance of the account identified in step d., and(iii) presenting said bearer with evidence of said account balance adjustment at the time of said adjustment.

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