Method and system for processing financial instrument deposits physically remote from a financial institution

• US 7,216,106 B1
• Filed: 10/02/2000
• Issued: 05/08/2007
• Est. Priority Date: 04/28/2000
• Status: Expired due to Term

• Current Assignee: PPS Data LLC (Zions Bancorporation, N.A.)
• Original Assignee: Netdeposit LLC (Zions Bancorporation, N.A.)
• Inventors: Titus, William Ronald, Buchanan, Danne L.
• Primary Examiner(s): NGUYEN, NGA B
• Application Number:
  US09/676,956
• Time in Patent Office: 2,409 Days
• Field of Search: 705/715, 705/41, 705/40, 705/42, 705/43, 705/44, 705/45, 705/16, 705/17, 705/18, 379/100.11, 715/526, 235/379, 235/380, 235/381
• US Class Current: 705/45
• 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 20/102 Bill distribution or payments
• 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 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• 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: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

A system that includes computer hardware, computer software, apparatus, and methodology that enables individuals, businesses, and all types of organizations (both for profit and non-profit) to capture and securely transmit check images (including, but not limited to, personal checks, business checks, travelers checks, money orders, merchant coupons, food coupons, line of credit checks, etc.), deposit information, and other information from capture sites that preprocess financial instruments and generate data from the original instruments, for the purpose of having those checks credited to the depositing individual'"'"'s or organization'"'"'s bank account(s) and having the check images (and/or physical checks) entered into the bank check clearing channels for ultimate delivery to the maker bank for payment out of the maker'"'"'s account.

Claims

1. A computer-readable medium comprising a program product for deposit processing at a central system a plurality of checks with accompanying deposit information, comprising:

at least one computer-readable medium having computer readable program code embodied therein or among them if more than one medium, to be executed by a computer, the computer readable program code, when executed, capable of causing a machine to perform the following method steps

the central system receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation in a bank of fist deposit, electronic check data and original check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit;

a computer at the central system comparing at least one deposit parameter that is not an account number to an individual customer limit in advance of transmitting any of the deposit information to the bank of first deposit;

sending a communication if the individual customer limit is exceeded;

the central system performing at least one of sorting the received deposit information and error checking the received deposit information in advance of transmitting any of the deposit information to the bank of first deposit;

the central system transmitting at least some of the deposit information for each different deposit transaction to the bank of first deposit;

the central system transmitting electronic check data and check image data directly or indirectly to the maker bank, or to a Federal Reserve Bank or a correspondent bank, or to a print site for ultimate delivery in hard copy to a maker bank, with this transmitting bypassing the MICR capture, deposit accounting, cash management, float processing or other systems of the bank of first deposit.

2. The computer-readable medium as defined in claim 1, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is customer number of monetary items limit.

3. The computer-readable medium as defined in claim 1, wherein the deposit parameter is total monetary amount of a deposit in the deposit information and the individual customer limit is a customer total monetary amount deposit limit.

4. The computer-readable medium as defined in claim 1, wherein the deposit parameter is monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item amount limit.

5. The computer-readable medium as defined in claim 1, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

6. The computer-readable medium as defined in claim 1, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

7. The computer-readable medium as defined in claim 1, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

8. The computer-readable medium as defined in claim 1, wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

9. The computer-readable medium as defined in claim 1, wherein the program code for receiving deposit information receives deposit information for a plurality of different deposit transactions each including a deposit account designation to a different bank of first deposit;

and further comprising program code for sending at least some of the deposit information for each different one of a plurality of the deposit transactions to a respective different one of the banks of first deposit.

10. The computer-readable medium as defined in claim 1, further comprising program code for:

determining if the maker bank requires a hard copy of the check; and

if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy of the check directly or indirectly to the maker bank.

11. The computer-readable medium as defined in claim 1, further comprising program code for:

determining if the maker bank requires a hard copy of the check;

if it does, printing a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank.

12. The computer-readable medium as defined in claim 1, further comprising program code for

determining if a bank of first deposit is a maker bank for the check;

and

if it is the maker bank, then determining if the maker bank requires a hard copy of the check;

if the maker bank does require a hard copy of the check, then causing a copy of the check to be printed.

13. The computer-readable medium as defined in claim 1, further comprising program code for

receiving return check image data for a return check coupled with a reference key for an original deposit transaction;

and

sending the return check image data with the reference key directly or indirectly to the maker bank for re-presentment.

14. The computer-readable medium as defined in claim 1, further comprising program code for

determining if a re-presentment of a returned check requires a hard copy of the return check or if the check data image is acceptable for the re-presentment;

and

if the check image is acceptable, obtaining a reference key associated with an original deposit transaction; and

sending directly or indirectly the check image data and the reference key to the maker bank.

15. The computer-readable medium as defined in claim 1, further comprising a system with a plurality of different remote sites, with program code for the following steps being performed at each of a plurality of the remote sites:

obtaining deposit data for one or more original checks;

converting data for each of the one or more original checks into electronic check data;

creating original check image data for each of the one or more original checks;

creating endorsed and/or voided check image data for each of a plurality of the one or more original checks;

electronically associating the deposit data, the electronic check data and the original check image data and the endorsed and/or voided check image data; and

transmitting the electronic check data and the original check image data and/or the endorsed and/or voided check image to the central system.

16. The computer-readable medium as defined in claim 15, further comprising program code for:

determining if endorsement information at one of the remote sites is up-to-date; and

if the endorsement information at the remote site is not up-to-date, then downloading updated endorsement information from the central system.

17. The computer-readable medium as defined in claim 1, further comprising the central system sending endorsement information to the remote site to be used to add an endorsement.

18. A system for deposit processing at a central system a plurality of checks with accompanying deposit information, comprising:

an electronic storage; and

at least one processor operatively coupled to the electronic storage, wherein the at least one processor includes therein, or among them if more than one processor, the following components

a component of the central system for receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation in a bank of first deposit, electronic check data and original check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit;

a computer of the central system comparing at least one deposit parameter that is not an account number to an individual customer limit in advance of transmitting any of the deposit information to the bank of first deposit;

a component for sending a communication if the individual customer limit is exceeded;

a component of the central system performing at least one of sorting the received deposit information and error checking the received deposit information in advance of transmitting any of the deposit information to the bank of first deposit;

a component of the central system transmitting at least some of the deposit information for each different deposit transaction to the bank of first deposit;

a component of the central system transmitting electronic check data and check image data directly or indirectly to the maker bank or to a Federal Reserve Bank or a correspondent bank, or to a print site for ultimate delivery in hard copy to the maker bank, with this transmitting bypassing the MICR capture, deposit accounting, cash management, float processing or other systems of the bank of first deposit.

19. The system as defined in claim 18, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is a customer number of monetary items limit.

20. The system as defined in claim 18, wherein the deposit parameter is a total monetary amount of a deposit in the deposit information and the individual customer limit is a customer total monetary amount deposit limit.

21. The system as defined in claim 18, wherein the deposit parameter is a monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item amount limit.

22. The system as defined in claim 18, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

23. The system as defined in claim 18, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

24. The system as defined in claim 18, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

25. The system as defined in claim 18, wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

26. The system as defined in claim 18, wherein the system for receiving deposit information receives deposit information for a plurality of different deposit transactions, each one of the plurality including a deposit account designation to a different bank of first deposit;

and wherein the component for sending sends at least some of the deposit information for each different one of a plurality of the deposit transactions to a respective different one of the banks of first deposit.

27. The system as defined in claim 18, further comprising a component for:

determining if the maker bank requires a hard copy of the check; and

if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy of the check directly or indirectly to the maker bank.

28. The system as defined in claim 18, further comprising a component for:

determining if the maker bank requires a hard copy of the check;

if it does, printing a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank.

29. The system as defined in claim 18, further comprising component for

determining if the bank of first deposit is a maker bank for the check;

and

if it is the maker bank for the check, then determining if the maker bank requires a hard copy of the check;

if the maker bank does require a hard copy of the check, then causing a copy of the check to be printed.

30. The system as defined in claim 18, further comprising a component for

receiving return check image data for a return check coupled with a reference key for an original deposit transaction;

and

sending the return check image data with the reference key directly or indirectly to the maker bank for re-presentment.

31. The system as defined in claim 18, further comprising a component for

determining if a re-presentment of a returned check requires a hard copy of the return check or if the check data image is acceptable for the re-presentment;

and

if the check image is acceptable, obtaining a reference key associated with an original deposit transaction; and

sending directly or indirectly the check image data and the reference key to the maker bank.

32. The system as defined in claim 18, further comprising a system with a plurality of different remote sites, each with components for performing the following steps at each of a plurality of the remote sites:

obtaining deposit data for one or more original checks;

converting data for each of the one or more original checks into electronic check data;

creating original check image data for each of the one or more original checks;

creating endorsed and/or voided check image data for each of a plurality of the one or more original checks;

electronically associating the deposit data, the electronic check data and the original check image data and the endorsed and/or voided check image data; and

transmitting the electronic check data and the original check image data and/or the endorsed and/or voided check image to the central system.

33. The system as defined in claim 32, further comprising a component for:

determining if endorsement information at one of the remote sites is up-to-date; and

if the endorsement information at the remote site is not up-to-date, then downloading updated endorsement information from the central system.

34. The system as defined in claim 18, further comprising the central system sending endorsement information to the remote site to be used to add an endorsement.

35. A method for deposit processing by a central system a plurality of checks with accompanying deposit information, comprising:

the central system receiving deposit information for a plurality of different deposit transactions, with the deposit information including for each of the different deposit transactions a deposit account designation in a bank of first deposit, electronic check data and original check image data for at least one check to be deposited, wherein the central system is separate from MICR capture, deposit accounting, cash management, and float processing systems for the bank of first deposit;

a computer at the central system comparing at least one deposit parameter that is not an account number to an individual customer limit in advance of transmitting any of the deposit information to the bank of first deposit;

sending a communication if the individual customer limit is exceeded;

the central system performing at least one of sorting the received deposit information and error checking the received deposit information in advance of transmitting any of the deposit information to the bank of first deposit;

the central system transmitting at least some of the deposit information for each different deposit transaction to the bank of first deposit;

the central system transmitting electronic check data and check image data directly or indirectly to the maker bank, or to a Federal Reserve Bank or a correspondent bank, or to a print site for ultimate delivery in hard copy to a maker bank, with this transmitting bypassing the MICR capture, deposit accounting, cash management, float processing or other systems of the bank of first deposit.

36. The method as defined in claim 35, wherein the deposit parameter is a number of monetary items in the deposit information and the individual customer limit is a customer number of monetary items limit.

37. The method as defined in claim 35, wherein the deposit parameter is a total monetary amount of a deposit in the deposit information and the individual customer limit is a customer total monetary amount deposit limit.

38. The method as defined in claim 35, wherein the deposit parameter is a monetary amount of a monetary item in the deposit information and the individual customer limit is a customer monetary item amount limit.

39. The method as defined in claim 35, wherein the deposit parameter is a number of deposits and the individual customer limit is a number of deposits limit.

40. The method as defined in claim 35, wherein there are at least two deposit parameters compared against respective individual customer deposit limits, with two deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

41. The method as defined in claim 35, wherein there are at least three deposit parameters compared against respective individual customer deposit limits, with three deposit parameters selected from the group consisting of a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

42. Previously presented) The method as defined in claim 35, wherein there are at least four deposit parameters compared against respective individual customer deposit limits, with the four deposit parameters comprising a number of monetary items in the deposit information with the individual customer limit being a customer number of monetary items limit, a total monetary amount of a deposit in the deposit information with the individual customer limit being a customer total monetary amount deposit limit, a monetary amount of a monetary item in the deposit information with the individual customer limit being a customer monetary item amount limit, and a number of deposits and the individual customer limit is a number of deposits limit.

43. The method as defined in claim 35, wherein the system for receiving deposit information receives deposit information for a plurality of different deposit transactions, each one of the plurality including a deposit account designation to a different bank of first deposit;

and wherein the sending step sends at least some of the deposit information for each different one of a plurality of the deposit transactions to a respective different one of the banks of first deposit.

44. The method as defined in claim 35, further comprising

determining if the maker bank requires a hard copy of the check;

and

if it does, sending check image data to the print site for printing a hard copy of the check and sending the hard copy of the check directly or indirectly to the maker bank.

45. The method as defined in claim 35, further comprising component for:

determining if the maker bank requires a hard copy of the check;

if it does, printing a copy of the check from the check image data and forwarding directly or indirectly the printed check to the maker bank.

46. The method as defined in claim 35, further comprising

determining if the bank of first deposit is a maker bank for the check;

and

if it is the maker bank, then determining if the maker bank requires a hard copy of the check;

if the maker bank does require a hard copy of the check, then causing a copy of the check to be printed; and

if the maker bank does not require a hard copy of the check, then sending the check image data directly or indirectly to the maker bank.

47. The method as defined in claim 35, further comprising

receiving return check image data for a return check coupled with a reference key for an original deposit transaction;

and

sending the return check image data with the reference key directly or indirectly to the maker bank for re-presentment.

48. The method as defined in claim 35, further comprising

determining if a re-presentment of a returned check requires a hard copy of the return check or if the check data image is acceptable for the re-presentment;

and

if the check image is acceptable, obtaining a reference key associated with an original deposit transaction; and

sending directly or indirectly the check image data and the reference key to the maker bank.

49. The method as defined in claim 35, further comprising a system with a plurality of different remote sites, with the following steps being performed at each of a plurality of the remote sites:

obtaining deposit data for one or more original checks;

converting data for each of the one or more original checks into electronic check data;

creating original check image data for each of the one or more original checks;

creating endorsed and/or voided check image data for each of a plurality of the one or more original checks;

electronically associating the deposit data, the electronic check data and the original check image data and the endorsed and/or voided check image data; and

transmitting the electronic check data and the original check image data and/or the endorsed and/or voided check image to the central system.

50. The method as defined in claim 49, further comprising:

determining if endorsement information at one of the remote sites is up-to-date; and

if the endorsement information at the remote site is not up-to-date, then downloading updated endorsement formation from the central system.

51. The method as defined in claim 35, further comprising the central system sending endorsement information to the remote site to be used to add an endorsement.