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System and method for negotiable instrument cashing incentives

  • US 7,497,372 B1
  • Filed: 11/09/2004
  • Issued: 03/03/2009
  • Est. Priority Date: 11/09/2004
  • Status: Expired due to Fees
First Claim
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1. A method for establishing a deposit account, the method comprising:

  • at a financial institution, receiving a request from a user to cash a negotiable instrument;

    processing said request by a negotiable instrument cashing system, said processing including electing to charge a fee for processing said negotiable instrument;

    determining, by the negotiable instrument cashing system, if said user is eligible for an offer to establish a deposit account with said financial institution, wherein determining if said user is eligible comprises determining whether one or more parameters are satisfied;

    if said user is eligible, presenting said offer to establish a deposit account with said financial institution to said user, wherein said offer includes depositing an amount equal to at least a portion of said fee into said deposit account; and

    receiving user consent to said offer and opening said deposit account.

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