Virtual check

• US 9,619,789 B1
• Filed: 04/06/2015
• Issued: 04/11/2017
• Est. Priority Date: 04/22/2009
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Thiele, Ross Andrew
• Primary Examiner(s): Cheung, Calvin
• Application Number:
  US14/679,174
• Time in Patent Office: 736 Days
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography

Abstract

Methods and systems for virtual checking are described. In some embodiments, information for a virtual check created in a mobile device associated with a payor can be received from the mobile device. The information may include an amount of the virtual check. A computer system may determine whether there are sufficient funds to cover the amount of the virtual check and may place the funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check.

Claims

1. A method comprising:

receiving, from a mobile device comprising a position sensor and associated with a payor, information for a virtual check created in real-time in the mobile device associated with the payor, the information including an amount of the virtual check and a location indicating where the virtual check was created or sent from;

associating the amount of the virtual check and the location with information associated with the payor stored at a computing system;

determining, by the computing system, whether there are sufficient funds to cover the amount of the virtual check; and

placing, by the computing system, funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check.

2. The method of claim 1, wherein determining, by the computing system, whether there are sufficient funds to cover the amount of the virtual check comprises determining whether there are sufficient funds in an account associated with the payor.

3. The method of claim 1, wherein placing, by the computing system, the funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check comprises placing the funds in reserve until the virtual check is presented.

4. The method of claim 1, wherein the mobile device generates tag data associated with the virtual check.

5. The method of claim 4, wherein the mobile device embeds at least a portion of the tag data in the virtual check.

6. The method of claim 4, wherein the tag data includes at least one of:

a physical location of a creation of the virtual check, a date the virtual check was created, a time the virtual check was created, or security information, wherein the security information includes a type of security, a version of security, and a number of times the tag data associated with the virtual check has been encrypted.

7. The method of claim 1, wherein the amount of the virtual check is received when the amount of the virtual check is entered into the virtual check.

8. The method of claim 1, further comprising:

receiving an indication that an application that creates the virtual check has been initiated on the mobile device;

checking, by the computing system, a maximum virtual check amount; and

sending the maximum virtual check amount to the mobile device.

9. A non-transitory, computer-readable medium having computer-readable instructions that, when executed by one or more computer processors, direct the one or more computer processors to:

receive, from a mobile device comprising a position sensor and associated with a payor, information for a virtual check created in real-time in the mobile device associated with the payor, the information including an amount of the virtual check and a location indicating where the virtual check was created or sent from;

associate the amount of the virtual check and the location with information associated with the payor stored at a computing system;

determine whether there are sufficient funds to cover the amount of the virtual check; and

place funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check.

10. The non-transitory, computer-readable medium of claim 9, wherein the computer-readable instructions that, when executed by the one or more computer processors, direct the one or more computer processors to determine whether there are sufficient funds to cover the amount of the virtual check further direct the one or more computer processors to determine whether there are sufficient funds in an account associated with the payor.

11. The non-transitory, computer-readable medium of claim 9, wherein the computer-readable instructions that, when executed by the one or more computer processors, direct the one or more computer processors to place the funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check further direct the one or more computer processors to place the funds in reserve until the virtual check is presented.

12. The non-transitory, computer-readable medium of claim 9, wherein the mobile device generates tag data associated with the virtual check and embeds at least a portion of the tag data in the virtual check.

13. The non-transitory, computer-readable medium of claim 12, wherein the tag data includes at least one of:

a physical location of a creation of the virtual check, a date the virtual check was created, a time the virtual check was created, or security information, wherein the security information includes a type of security, a version of security, and a number of times the tag data associated with the virtual check has been encrypted.

14. The non-transitory, computer-readable medium of claim 9, wherein the amount of the virtual check is received when the amount of the virtual check is entered into the virtual check.

15. The non-transitory, computer-readable medium of claim 9, further comprising:

receiving an indication that an application that creates the virtual check has been initiated on the mobile device;

checking a maximum virtual check amount; and

sending the maximum virtual check amount to the mobile device.

16. A system comprising:

a memory containing machine-readable instructions; and

a computer processor in communication with the memory and configured to execute the machine-readable instructions to;

receive, from a mobile device comprising a position sensor and associated with a payor, information for a virtual check created in real-time in the mobile device associated with the payor, the information including an amount of the virtual check and a location indicating where the virtual check was created or sent from;

associate the amount of the virtual check and the location with information associated with the payor stored at a computing system;

determine whether there are sufficient funds to cover the amount of the virtual check; and

place funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check.

17. The system of claim 16, wherein the computer processor that is configured to execute the machine-readable instructions to determine whether there are sufficient funds to cover the amount of the virtual check is further configured to execute the machine-readable instructions to determine whether there are sufficient funds in an account associated with the payor.

18. The system of claim 16, wherein the computer processor that is configured to execute the machine-readable instructions to place the funds in the amount of the virtual check in reserve when the funds are sufficient to cover the amount of the virtual check is further configured to execute the machine-readable instructions to place the funds in reserve until the virtual check is presented.

19. The system of claim 16, wherein the mobile device generates tag data associated with the virtual check and embeds at least a portion of the tag data in the virtual check, and wherein the tag data includes at least one of:

a physical location of a creation of the virtual check, a date the virtual check was created, a time the virtual check was created, or security information, wherein the security information includes a type of security, a version of security, and a number of times the tag data associated with the virtual check has been encrypted.

20. The system of claim 16, wherein the computer processor that is configured to execute the machine-readable instructions is further configured to execute machine-readable instructions to:

receive an indication that an application that creates the virtual check has been initiated on the mobile device;

check a maximum virtual check amount; and

send the maximum virtual check amount to the mobile device.