Cashiers check verification system

• US 7,980,463 B2
• Filed: 07/08/2008
• Issued: 07/19/2011
• Est. Priority Date: 07/08/2008
• Status: Expired due to Fees

• Current Assignee: Howard C. Epstein
• Original Assignee: Howard C. Epstein
• Inventors: Epstein, Howard C.
• Primary Examiner(s): Le; Thien M.
• Assistant Examiner(s): VO, TUYEN KIM
• Application Number:
  US12/169,167
• Publication Number:
  US 20100006643A1
• Time in Patent Office: 1,106 Days
• Field of Search: 235/379, 235/375, 705 39- 45
• US Class Current: 235/379
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• 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 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The present invention discloses a method and system for the verification of a cashier'"'"'s check. The method and system involves a verification machine-readable code that can be verified online for authenticity and status. It can further be used to authorize payment.

Claims

1. An internet based system for verifying the authenticity and status of a cashier'"'"'s check issued by a banking institution and preventing identical copies of the cashier'"'"'s check from being cashed comprising:

a) the internet based web site comprising;

i. a means for generating a check identifier code for the cashier'"'"'s check;

ii. a means for generating a machine-only readable code comprising a first set of data regarding a payor, a payee, an amount of the cashier'"'"'s check and the check identifier code wherein the machine-only readable code is different from any machine-only readable code placed on the check by the banking institution;

iii. a means for delivering the machine-only readable code to the banking institution for placement on the cashier'"'"'s check;

iv. a means for storing the first set of data and the status of the check wherein the check initially has an active status;

v. a means for receiving machine-only readable code on a selected cashier'"'"'s check containing a second set of data and comparing the second set to the stored first set and determine if the second set is identical or not to the first set;

vi. a means for reporting the result of the comparison and the current check status when the second set is identical to the first set; and

vii. a means for changing the active status to inactive when the comparison determines the second set is identical to the first set and the check is to be cashed;

b) a means for the issuing banking institution to place the machine-only readable code first data received from the web site on the cashier'"'"'s check; and

c) a means to send machine-only readable code containing a second set of data on a cashier'"'"'s check to the internet based web site for comparison to the first set of data.

2. A system according to claim 1 wherein the system further comprises a means for verifying the identity of the person cashing the check is the payee indicated in the first set of data.

3. A system according to claim 1 wherein access to the web site is by authorization means.

4. A method for preventing the cashing of multiple copies of a cashier'"'"'s check issued by a banking institution using a web site based system comprising:

a) sending information from the banking institution to the web site about the cashier'"'"'s check consisting of a payor, a payee and an amount of the check;

b) the web site issuing a check identification number for the check;

c) the website creating a first set of data comprising the payor, the payee, the amount of the check and the check identification number and storing the first set of data as having an active status;

d) the website creating a machine-only readable code of the first set of data separate from any machine-only readable code already on the cashier'"'"'s check and sending the machine-only readable code of the first set of data to the banking institution;

e) the banking institution placing the machine-only readable code on the cashier'"'"'s check; and

f) providing a means for the web site to receive machine-only readable code that has been placed on a cashier'"'"'s check as a second set of data from an entity trying to determine the status of the check and compare the second set to the first set and determine if the second set is identical or not to the first set;

g) reporting the results of the comparison and the status of the check to the entity; and

h) changing the check status to inactive when the first set is identical to the second set and when the entity indicates to the web site that the check is being cashed.

5. A method according to claim 4 wherein the method further comprises verifying the identity of the payee.

6. A method according to claim 4 wherein there is a method of authorizing access to the web site.

7. A method according to claim 4 wherein the comparison is reported without changing the status of the check.

8. A web site for verifying the authenticity and status of a cashier'"'"'s check issued by a banking institution and preventing identical copies of the cashier'"'"'s check from being cashed the web site comprising:

a) a means for generating a check identifier code for the cashier'"'"'s check;

b) a means for generating a machine-only readable code comprising a first set of data regarding a payor, a payee, an amount of the cashier'"'"'s check and the check identifier code wherein the machine-only readable code is different from any machine-only readable code placed on the check by the banking institution;

c) a means for delivering the machine-only readable code to the banking institution for placement on the cashier'"'"'s check;

d) a means for storing the first set of data and the status of the check wherein the check initially has an active status;

e) a means for receiving machine-only readable code on a selected cashier'"'"'s check containing a second set of data in machine-only readable code and comparing the second set to the stored first set and determine if the second set is identical or not to the first set;

f) a means for reporting the result of the comparison and a current check status when the second set is identical to the first set; and

g) a means for changing the active status to inactive when the comparison determines the second set is identical to the first set and the check is to be cashed.