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Control features in a system and method for processing checks and check transactions

  • US 8,660,957 B2
  • Filed: 02/03/2012
  • Issued: 02/25/2014
  • Est. Priority Date: 01/30/2006
  • Status: Expired due to Fees
First Claim
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1. A method for processing paper checks, comprising:

  • a) receiving, at a third party payment processor computer, a transaction data file containing a plurality of transaction records with each transaction record containing an amount of a transaction that used a paper check and MICR information extracted from the paper check;

    b) associating, at the third party payment processor computer, a first portion of the transaction records with an indication of an end of a trial period;

    c) receiving, at the third party payment processor computer, a check image file containingi) a plurality of digital check images generated by scanning the paper checks, andii) MICR information associated with each of the digital check images;

    d) determining, at the third party payment processor computer, whether each transaction record is ACH-eligible or ACH-ineligible;

    e) submitting, from the third party payment processor computer, ACH-ineligible transaction records and ACH-eligible transaction records that are not beyond the trial period to a matching protocol that matches the MICR information in a submitted transaction record to matching MICR information associated with a matched digital check image found in the check image file; and

    f) submitting, from the third party payment processor computer, ACH-eligible transaction records that are beyond the trial period to the ACH network for settlement without submission to the matching protocol.

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