Check printing instructions in ACH transactions

• US 8,655,783 B1
• Filed: 03/18/2010
• Issued: 02/18/2014
• Est. Priority Date: 03/23/2009
• Status: Active Grant

• Current Assignee: Yodlee Incorporated (Envestnet Incorporated)
• Original Assignee: Yodlee Incorporated (Envestnet Incorporated)
• Inventors: Hazlehurst, Peter, Williams, Gary, Iyer, Jayasree, Abad, Julieta
• Primary Examiner(s): Coppola, Jacob C.
• Application Number:
  US12/727,187
• Time in Patent Office: 1,433 Days
• Field of Search: 705/64, 705/65, 705/45
• US Class Current: 705/45
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A computer-implemented method includes issuing a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check, receiving the transaction, and printing the check according to the instructions.

Claims

1. A computer-implemented method, comprising:

receiving, by a computer of a receiver, a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check payable to a payee other than the receiver;

wherein the transaction includes instructions to credit an account of the receiver;

extracting, by the computer, the instructions for printing the check from an entry detail addenda record of the transaction;

printing the check according to the instructions; and

mailing the check to the payee.

2. The method of claim 1, wherein the instructions for printing the check include data identifying at least a payee, an amount to pay the payee, a routing number and an account number.

3. The method of claim 2, wherein the instructions for printing the check include data identifying an address of the payee.

4. The method of claim 2, wherein the data is encrypted.

5. The method of claim 1, wherein the instructions for printing the check include a cryptographically generated digital signature.

6. The method of claim 1, wherein the instructions for printing the check are included in the entry detail addenda record of the transaction.

7. The method of claim 1, wherein the transaction is a single transaction that includes instructions for printing a plurality of checks payable to a single payee, the plurality of checks drawn on a plurality of accounts of different payors.

8. The method of claim 1, wherein the printing the check includes printing a bank check or vendor check.

9. The method of claim 1, further comprising warehousing the transaction.

10. The method of claim 1, wherein the check is printed at least four days after receipt of the transaction.