Automated review and hold placement

• US 8,073,751 B2
• Filed: 10/31/2006
• Issued: 12/06/2011
• Est. Priority Date: 10/31/2006
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Garg, Atul, Rivenbark, Connie, Howard, Ettre Vee
• Primary Examiner(s): Kyle, Charles
• Assistant Examiner(s): KANG, IRENE S
• Application Number:
  US11/555,038
• Publication Number:
  US 20080195514A1
• Time in Patent Office: 1,862 Days
• Field of Search: 705/35
• US Class Current: 705/35
• 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 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• 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 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

A method for automated processing of deposit items at a computing device is described. A deposit item, such as case, a personal check, or certified check, is received at a computing device. The deposit item may represent a request to deposit funds of at least one monetary item into a user account, such as a checking or savings account. A computer associated with the computing device determines whether to hold the funds of the at least one monetary item from deposit into the user account. If it is determined to hold the funds, an amount of the funds to hold and a time period in which to hold the amount of funds may be determined.

Claims

1. A method for automated processing of deposit items by a computing device, comprising:

receiving a deposit item, the deposit item representing a request to deposit funds of at least one monetary item into a user account;

determining, by the computing device, a total monetary amount of the at least one monetary item;

receiving, by the computing device, an input associated with the request, the input identifying a total amount of funds to deposit;

determining, by a computing device, whether the received input equals the determined total monetary amount of the at least one monetary item;

upon determining that the received input does not equal the determined total monetary amount of the at least one monetary item, displaying a request for correction on a display associated with an automated teller machine; and

determining, by a computing device, whether to hold the funds of the at least one monetary item from deposit into the user account.

2. The method of claim 1, wherein determining, by the computing device, whether to hold the funds of the at least one monetary item from deposit into the user account includes determining, by the computing device, an amount of the funds to hold and a time period in which to hold the determined amount of funds.

3. The method of claim 2, wherein the determined amount of funds is a portion of the funds of the at least one monetary item.

4. The method of claim 1, wherein determining, by the computing device, whether to hold the funds of the at least one monetary item from deposit into the user account includes determining, by the computer, a time period in which to hold a determined amount of funds.

5. The method of claim 4, wherein the time period is a specific number of days.

6. The method of claim 1, wherein upon determining to hold the funds of the at least one monetary item from deposit into the user account, the method further comprising determining, by the computing device, an amount of the funds to hold and a time period in which to hold the determined amount of funds.

7. The method of claim 1, wherein upon determining to not hold the funds of the monetary item from deposit into the user account, the method further comprising depositing the funds of the at least one monetary item into the user account.

8. The method of claim 1, wherein the request includes a deposit slip with an account number associated with the user account and the at least one monetary item.

9. The method of claim 1, wherein the at least one monetary item includes cash and a negotiable instrument.

10. The method of claim 1, further comprising determining, by the computing device, a type of the deposit item.

11. The method of claim 10, wherein the type of the deposit item is determined to be cash and at least one negotiable instrument.

12. The method of claim 11, wherein the determining, by the computing device, a total monetary amount of the at least one monetary item includes:

determining, by the computing device, a total monetary amount of the cash; and

determining, by the computing device, a total monetary amount of the at least one negotiable instrument.

13. The method of claim 1, wherein upon determining to hold the funds of the at least one monetary item from deposit into the user account, the method further comprising transmitting data corresponding to a request to automatically print a customer letter associated with the user account identifying a hold on the user account.

14. The method of claim 13, further comprising creating the customer letter in the computing device.

15. The method of claim 1, wherein upon determining to hold the funds of the at least one monetary item from deposit into the user account, the method further comprising retaining data associated with a hold on the user account in a memory.

16. The method of claim 15, wherein the memory is external from the computing device.

17. The method of claim 15, wherein the data is accessed by an auditing and reporting system.

18. The method of claim 1, wherein determining, by the computing device, whether to hold the funds of the at least one monetary item from deposit into the user account includes determining, by the computing device, whether the at least one monetary item is flagged for fraudulence check.

19. The method of claim 18, wherein upon determining to flag the at least one monetary item, adding the at least one monetary item to a fraud list of deposit items.

20. The method of claim 19, further comprising generating the fraud list of deposit items in the computing device.

21. The method of claim 1, further comprising:

reading, by the computing device, the deposit item;

determining the deposit item to be fraudulent; and

debiting the user account in response to determining the deposit item to be fraudulent.

22. The method of claim 1, wherein determining, by the computing device, whether to hold the funds of the at least one monetary item from deposit into the user account includes determining, by the computing device, whether to hold the entirety of the funds.

23. The method of claim 1, wherein the computing device is physically within an automated teller machine.

24. One or more computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for automated processing of deposit items, the method comprising:

receiving a deposit item, the deposit item representing a request to deposit funds of at least one monetary item into a user account;

determining, by the computing device, a total monetary amount of the at least one monetary item;

receiving, by the computing device, an input associated with the request, the input identifying a total amount of funds to deposit;

determining, by a computing device, whether the received input equals the determined total monetary amount of the at least one monetary item;

upon determining that the received input does not equal the determined total monetary amount of the at least one monetary item, displaying a request for correction on a display associated with an automated teller machine; and

determining whether to hold the funds of the at least one monetary item from deposit into the user account.

26. The one or more computer-readable media of claim 24, wherein upon determining to hold the funds of the at least one monetary item from deposit into the user account, the method further comprising determining, by the computing device, an amount of the funds to hold and a time period in which to hold the determined amount of funds.

27. The one or more computer-readable media of claim 24, the method further comprising determining, by the computing device, a type of the deposit item.

28. The one or more computer-readable media of claim 24, wherein determining, by the computing device, whether to hold the funds of the at least one monetary item from deposit into the user account includes determining, by the computing device, whether the at least one monetary item is flagged for fraudulence check.

25. A computing device enabling a financial entity to process deposit items, comprising:

means for receiving a deposit item, the deposit item representing a request to deposit funds of at least one monetary item into a user account;

means for determining, by the computing device, a total monetary amount of the at least one monetary item;

means for receiving, by the computing device, an input associated with the request, the input identifying a total amount of funds to deposit;

means for determining, by a computing device, whether the received input equals the determined total monetary amount of the at least one monetary item;

upon determining that the received input does not equal the determined total monetary amount of the at least one monetary item, means for displaying a request for correction on a display associated with an automated teller machine; and

means for determining, by a computer, whether to hold the funds of the at least one monetary item from deposit into the user account.