Systems and methods to modify a negotiable instrument

• US 7,996,316 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:
  US11/928,017
• 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: B41M 3/14 Security printing securities B42D25/29
• CPC Class Codes: B42D 25/29 Securities; Bank notes
• 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

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 of depositing a physical negotiable instrument, comprising:

receiving a physical negotiable instrument at an intake of a depositor'"'"'s scanner, 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 stimulus changes the modifiable ink, wherein the stimulus is a heat or light source of the scanner;

generating a first electronic data of the physical negotiable instrument and a second electronic data of the physical negotiable instrument by the depositor'"'"'s scanner, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, 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;

transmitting the first electronic data and the second electronic data to a financial institution, wherein the depositor is remotely located from the financial institution;

receiving an instruction to void the physical negotiable instrument from the financial institution after a verification of at least the first electronic data by the financial institution wherein the received instruction causes the application of the stimulus to the modifiable ink; and

generating and applying the stimulus by the depositor'"'"'s scanner to the modifiable ink to void the physical negotiable instrument in response to receiving the instruction to void the negotiable instrument, the stimulus permanently modifying the modifiable ink on 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 transmitted via an internet connection, a telephone connection, or a facsimile.

4. The method of claim 1, wherein the modifiable ink changes to indicate that the physical negotiable instrument is voided.

5. The method of claim 1, wherein voiding the physical negotiable instrument causes the modifiable ink to indicate VOID on the at least one surface.

6. The method of claim 1, wherein the void signal is received via an internet connection, a telephone connection, or a radio frequency connection.

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

a memory;

a processor disposed in communication with said memory, and configured to issue a plurality of processing instructions stored in the memory, wherein the processor issues instructions to;

receive the physical negotiable instrument at an intake of a depositor'"'"'s scanner, 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 stimulus changes the modifiable ink, wherein the stimulus is a heat or light source of the scanner;

generate a first electronic data of the physical negotiable instrument and a second electronic data of the physical negotiable instrument the depositor'"'"'s scanner, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, 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;

transmit the first electronic data and the second electronic data to a financial institution, wherein the depositor is remotely located from the financial institution;

receive an instruction to void the negotiable instrument from the financial institution after a verification of at least the first electronic data by the financial institution wherein the received instruction causes the application of the stimulus to the modifiable ink; and

generating and applying the stimulus by the depositor'"'"'s scanner to the modifiable ink to void the physical negotiable instrument in response to the reception of the instruction to void the negotiable instrument, the stimulus permanently modifying the modifiable ink on the physical negotiable instrument.

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

9. The system of claim 7, wherein the first electronic data and the second electronic data are received via an internet connection, a telephone connection, or a facsimile.

10. The system of claim 7, wherein the modifiable ink changes to indicate that the physical negotiable instrument is voided.

11. The system of claim 7, wherein voiding the physical negotiable instrument causes the modifiable ink to indicate VOID on the at least one surface.

12. The system of claim 7, wherein the void signal is received via an internet connection, a telephone connection, or a radio frequency connection.

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

receive a physical negotiable instrument at an intake of a depositor'"'"'s scanner, 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 stimulus changes the modifiable ink, wherein the stimulus is a heat or light source of the scanner;

generate a first electronic data of the physical negotiable instrument and a second electronic data of the physical negotiable instrument by the depositor'"'"'s scanner, wherein the first electronic data comprises a digital image of at least a first side of the physical negotiable instrument, 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;

transmit the first electronic data and the second electronic data to a financial institution, wherein the depositor is remotely located from the financial institution;

receive an instruction to void the negotiable instrument from the financial institution after a verification of at least the first electronic data by the financial institution wherein the received instruction causes the application of the stimulus to the modifiable ink; and

generate and apply the stimulus by the depositor'"'"'s scanner to the modifiable ink to void the physical negotiable instrument in response to receiving the instruction to void the negotiable instrument, the stimulus permanently modifying the modifiable ink on the physical negotiable instrument.

14. The non-transitory computer-readable storage medium of claim 13, wherein the physical negotiable instrument is a check.

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

16. The non-transitory computer-readable storage medium of claim 13, wherein the modifiable ink changes to indicate that the physical negotiable instrument is voided.

17. The non-transitory computer-readable storage medium of claim 13, wherein voiding the physical negotiable instrument causes the modifiable to indicate VOID on the at least one surface.

18. The non-transitory computer-readable storage medium of claim 13, wherein the void signal is received via an internet connection, a telephone connection, or a radio frequency connection.