Systems and methods to modify a negotiable instrument

• US 7,996,315 B1
• Filed: 10/30/2007
• Issued: 08/09/2011
• Est. Priority Date: 10/30/2007
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Smith, Arthur Quentin, Billman, Bradly Jay, Medina, Reynaldo III, Hopkins, John Chandler III
• Primary Examiner(s): Rosen; Elizabeth H
• Application Number:
  US11/927,940
• Time in Patent Office: 1,379 Days
• Field of Search: 705/35, 705/45, 705/1.1, 705/42, 705/70, 382/137, 382/138, 382/139, 382/140, 235/379, 283/57, 283/58, 283/72
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

When the deposit of a negotiable instrument, such as a check, is done electronically by using a digital image of the negotiable instrument rather than the negotiable instrument itself, during the process, at least two negotiable instruments may exist: the physical negotiable instrument and the digital image of the negotiable instrument. To change the physical negotiable instrument to a non-negotiable instrument, a bank or other financial institution may send a transmission to modify the appearance of the negotiable instrument, thus effectively “voiding” the physical negotiable instrument. The negotiable instrument may have various inks or mechanisms that facilitate the modification of the appearance through the application of a stimulus, such as heat or light. The financial institution may cause the application of the stimulus to modify the appearance of the negotiable instrument.

Claims

1. A processor-implemented method for depositing a physical negotiable instrument, comprising:

receiving a first electronic data from a depositor device, wherein the depositor is remotely located from a financial institution, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, wherein the physical negotiable instrument comprises at least one surface having a modifiable ink, wherein the modifiable ink is sensitive to a stimulus, wherein the digital image is generated by a depositor'"'"'s scanner communicatively coupled to the depositor device, wherein the stimulus is a heat or light source of the scanner;

receiving a second electronic data, wherein the second electronic data comprises an amount of money to be deposited and a magnetic ink character recognition (MICR) information of the physical negotiable instrument;

verifying by a processor that the first electronic data and the second electronic data are valid; and

transmitting an instruction to void the negotiable instrument to the depositor'"'"'s scanner subsequent to successful verification of the first and second electronic data; and

the depositor'"'"'s scanner generating and applying the stimulus to the modifiable ink on the at least one surface of the physical negotiable instrument, the stimulus permanently modifying the modifiable ink to void the physical negotiable instrument.

2. The method of claim 1, wherein the physical negotiable instrument is a check.

3. The method of claim 1, wherein the first electronic data and the second electronic data are received via an internet connection, a telephone connection, or a facsimile.

4. The method of claim 1, wherein the instruction to void the negotiable instrument causes the creation of the stimulus.

5. The method of claim 1, further comprising depositing the amount of money into an account.

6. A system for depositing a physical negotiable instrument, comprising:

a processor; and

a memory disposed in communication with the processor and storing processor-executable instructions, the instructions and the processor configured to;

receive a first electronic data from a depositor device, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, wherein the depositor is remotely located from a financial institution, wherein the physical negotiable instrument comprises at least one surface having a modifiable ink, wherein the modifiable ink is sensitive to a stimulus, wherein the digital image is generated by a depositor'"'"'s scanner communicatively coupled to the depositor device, wherein the stimulus is a heat or light source of the scanner;

receive a second electronic data, wherein the second electronic data comprises an amount of money to be deposited and a magnetic ink character recognition (MICR) information of the physical negotiable instrument;

verify that the first electronic and second electronic data are valid; and

transmit an instruction to void the negotiable instrument to the depositor'"'"'s scanner subsequent to successful verification of the first and second electronic data; and

the depositor'"'"'s scanner generating and applying the stimulus to the modifiable ink on the at least one surface of the physical negotiable instrument, the stimulus permanently modifying the modifiable ink to void the physical negotiable instrument.

7. The system of claim 6, wherein the physical negotiable instrument is a check.

8. The system of claim 6, wherein the first electronic data and the second electronic data are received via an internet connection, a telephone connection, or a facsimile.

9. The system of claim 6, wherein the instruction to void the negotiable instrument causes the creation of the stimulus.

10. The system of claim 6, wherein the instructions further operable with the processor to deposit the amount of money into an account.

11. A non-transitory computer-readable storage medium comprising computer-executable instructions for depositing a physical negotiable instrument, the instructions comprising instructions to:

receive a first electronic data from a depositor device, wherein the depositor is remotely located from a financial institution, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, wherein the physical negotiable instrument comprises at least one surface having a modifiable ink, wherein the modifiable ink is sensitive to a stimulus, wherein the digital image is generated by a depositor'"'"'s scanner communicatively coupled to the depositor device, wherein the stimulus is a heat or light source of the scanner;

receive a second electronic data, wherein the second electronic data comprises an amount of money to be deposited and a magnetic ink character recognition (MICR) information of the physical negotiable instrument;

verify that the first electronic data and the second electronic data are valid;

transmit an instruction to void the negotiable instrument to the depositor device subsequent to successful verification of the first and second electronic data; and

the depositor'"'"'s scanner generating and applying the stimulus to the modifiable ink on the at least one surface of the physical negotiable instrument, the stimulus permanently modifying the modifiable ink to void the physical negotiable instrument.

12. The non-transitory computer-readable storage computer-readable storage medium of claim 11, wherein the physical negotiable instrument is a check.

13. The non-transitory computer-readable storage computer-readable storage medium of claim 11, wherein the first electronic data and the second electronic data are received via an internet connection, a telephone connection, or a facsimile.

14. The non-transitory computer-readable storage computer-readable storage medium of claim 11, wherein the instruction to void the negotiable instrument signal causes the creation of the stimulus.

15. The non-transitory computer-readable storage computer-readable storage medium of claim 11, further comprising instructions to deposit the amount of money into an account.