Bill payment system and method utilizing bank routing numbers

• US 7,213,003 B1
• Filed: 03/31/2000
• Issued: 05/01/2007
• Est. Priority Date: 07/25/1991
• Status: Expired due to Fees

• Current Assignee: Checkfree Corporation (Fiserv Incorporated)
• Original Assignee: Checkfree Corporation (Fiserv Incorporated)
• Inventors: Kight, Peter J., Johnson, Mark A., Cook, Kenneth, Christenson, Tamara K., Pointer, Philip, Lach, Regina
• Primary Examiner(s): Garg; Yogesh C.
• Application Number:
  US09/542,109
• Time in Patent Office: 2,587 Days
• Field of Search: 705 39- 45, 283/58, 235375-381, 379/93.18, 379/93.12
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A system and method for paying bills which uses bank routing numbers. A service provider receives a bank routing number from a consumer, the routing number belonging to the bank at which the consumer maintains a deposit account. The service provider verifies that this received routing number is correct. The verification includes comparing the received routing number to a database of routing numbers which the service provider has obtained from banks.

Claims

1. A method for processing consumer banking information, comprising:

storing a plurality of routing numbers associated with a plurality of financial institutions in a financial institutions file;

receiving a routing number and an account number associated with a financial institution at which a consumer maintains a deposit account;

comparing the received routing number or account number to the stored plurality of routing numbers and account numbers in the financial institutions file to verify accuracy of the received routing number or account number; and

automatically updating the received routing number or received account number to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file; and

storing the updated routing number of updated account number in a consumer database.

2. The method of claim 1, further comprising:

entering the received routing number; and

wherein the comparison also verifies that the received routing number is entered correctly.

3. The method of claim 1, further comprising:

receiving a request to pay a bill associated with a merchant on behalf of the consumer;

determining if the consumer financial institution accepts electronic fund transfers based on the verified routing number or the updated routing number; and

generating an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers.

4. A method for paying bills, comprising:

receiving a request to pay a bill associated with a merchant on behalf of a consumer, and a routing number associated with a financial institution at which the consumer maintains a deposit account;

comparing the received routing number or account number to a plurality of routing numbers and account numbers associated with a plurality of financial institutions in a financial institutions file to verify the accuracy of the received routing number or account number;

automatically updating the received routing number or received account number to reconcile the received routing numbers or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file;

storing the updated routing number or updated account number in a consumer database;

determining if the consumer financial institution accepts electronic fund transfers based on the received routing number of the updated routing number; and

generating an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers;

wherein the comparing is performed by a computer.

5. A method for determining if a financial institution can process electronic funds transfer, comprising:

storing a plurality of routing numbers associated with a plurality of financial institutions in a financial institutions database;

comparing a received routing number or account number associated with a financial institution to the stored plurality of routing numbers and account numbers in the financial institutions database to verify correctness of the routing number or account number;

automatically updating the received routing number or received account number to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file;

storing the updated routing number or updated account number in a consumer database; and

determining if the financial institution accepts electronic fund transfers based on the compared or updated routing number;

wherein the comparing is performed by a computer.

6. A system for processing consumer supplied banking information, comprising:

a storage device configured to store a plurality of routing numbers and account numbers associated with a plurality of financial institutions; and

a processor configured to compare a received routing number or account number associated with a financial institution at which a consumer maintains a deposit account to the stored plurality of routing numbers and account numbers in order to verify correctness of the consumer financial institution routing number or account number, to automatically update the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file, and to store the updated routing number or updated account number in a consumer database.

7. The system of claim 6, further comprising:

a data entry device for entering the consumer financial institution routing number;

wherein the verification also verifies correctness of the entry of the consumer financial institution routing number.

8. The system of claim 7, further comprising:

a network interface configured to receive a request to pay a bill associated with a merchant on behalf of the consumer;

wherein the processor is further configured to determine if the consumer financial institution accepts electronic fund transfers based on the verified consumer financial institution routing number, and to generate an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers.

9. A system for paying bills, comprising:

a network interface configured to receive a request to pay a bill associated with a merchant on behalf of a consumer, a routing number and an account number associated with a financial institution at which the consumer maintains a deposit account;

a database of a plurality of routing numbers and account numbers associated with a plurality of financial institutions; and

a processor configured (i) to compare a received routing number or account number associated with a financial institution at which the consumer maintains a deposit account to the database of routing numbers and account numbers in order to verify the correctness of the consumer financial institution routing number or account number, (ii) to automatically update the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file, (iii) to store the updated routing number or updated account number in a consumer database, (iv) to determine if the consumer financial institution accepts electronic fund transfers based on the consumer financial institution routing number, and (v) to generate an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers.

10. A system for determining if a financial institution accepts electronic fund transfers, comprising:

a storage device configured to store a plurality of routing numbers and account numbers associated with a plurality of financial institutions; and

a processor configured to verify accuracy of a routing number or account number associated with a financial institution by comparing a received routing number or account number to the stored plurality of routing numbers and account numbers, to automatically update the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file, to store the updated routing number or updated account number in a consumer database, and to determine if the financial institution accepts electronic fund transfers based on the compared routing number.

11. An article of manufacture for processing consumer banking information, comprising:

a computer readable medium; and

computer programming stored on the medium;

wherein the stored computer programming is configured to be readable from the computer readable medium by a computer to thereby cause the computer to operate so as to;

compare a received routing number or account number associated with a financial institution at which a consumer maintains a deposit account to a plurality of routing numbers and account numbers associated with a plurality of financial institutions, in order to verify the correctness of the consumer financial institution routing number or account number;

automatically updated the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file; and

store the updated routing number or updated account number in a consumer database.

12. The article of manufacture according to claim 11, wherein the computer readable medium is further readable to cause the computer to:

store the plurality of routing numbers in a financial institutions file.

13. The article of manufacture according to claim 11, where the computer readable medium is further readable to cause the computer to:

receive the consumer financial institution routing number based on an input;

wherein the verification also verifies correctness of the input.

14. The article of manufacture according to claim 11, wherein the computer readable medium is further readable to cause the computer to:

receive a request to pay a bill associated with a merchant on behalf of the consumer;

determine if the consumer financial institution accepts electronic fund transfers based on the consumer financial institution routing number; and

generate an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers.

15. An article of manufacture for paying bills, comprising:

a computer readable medium; and

computer programming stored on the medium;

wherein the stored computer programming is configured to be readable from the computer readable medium by a computer to thereby cause the computer to operate so as to;

receive a routing number and an account number associated with a financial institution at which a consumer maintains a deposit account;

receive, via a network, a request to pay a bill associated with a merchant on behalf of the consumer;

compare the received routing number or account number to a database of a plurality of routing numbers and account numbers associated with a plurality of financial institutions to verify accuracy of the received routing number or account number;

automatically update the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file;

store the updated routing number or u dated account number in a consumer database;

determine if the consumer financial institution accepts electronic fund transfers based on the consumer financial institution routing number; and

generate an instruction to pay the bill by electronic fund transfer from the consumer deposit account if the consumer financial institution is determined to accept electronic fund transfers.

16. An article of manufacture for determining if a financial institution can process electronic fund transfers, comprising:

a computer readable medium; and

computer programming stored on the medium;

wherein the stored computer programming is configured to be readable from the computer readable medium by a computer to thereby cause the computer to operate so as to;

store a plurality of routing numbers and account numbers associated with a plurality of financial institutions in a database;

compare a received routing number or account number associated with a financial institution to the plurality of routing numbers and account numbers in the database;

verify the accuracy of the received routing number or account number based on the comparison;

automatically update the received routing number or received account number in order to reconcile the received routing number or received account number with the stored plurality of routing numbers and account numbers in the financial institutions file;

store the updated routing number or updated account number in a consumer database; and

determine if the financial institution accepts electronic fund transfers based on the compared routing number.

17. A method for processing a payment request, comprising:

receiving a request to pay a bill associated with a merchant on behalf of the consumer, and a routing number and an account number associated with a financial institution at which the consumer maintains a deposit account;

storing a plurality of routing numbers and account numbers associated with a plurality of financial institutions in a financial institutions file;

automatically updating the received routing number or received account number in order to reconcile the received routing number or received account number with the plurality of routing numbers and account numbers stored in the financial institutions file;

storing the updated routing number or updated account number in a consumer database; and

determining if the consumer financial institution accepts electronic fund transfers based on the routing number, and generating an instruction to debit the consumer deposit account by electronic fund transfer if the consumer financial institution is determined to accept electronic fund transfers, in order to process the received pay request.

18. The method according to claim 17, further comprising:

comparing the received routing number or account number to the stored plurality of routing numbers and account numbers to verify accuracy of the received routing number or account number;

wherein the determination is made based on the verified received routing number.