Enhanced pre-allocated check negotiability systems and methods

  • US 7,500,600 B2
  • Filed: 08/09/2007
  • Issued: 03/10/2009
  • Est. Priority Date: 09/09/2005
  • Status: Active Grant
First Claim
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1. A method for authorizing, with a host computer system, a transaction using a negotiable instrument, the method comprising:

  • receiving a request, at the host computer system, to allocate a first amount of funds to the negotiable instrument;

    verifying availability of the first amount of funds;

    allocating the first amount of funds to the negotiable instrument, wherein upon allocation the first amount of funds comprises a host-specified first amount of funds;

    receiving a communications signal originating at a point-of-sale device, wherein the signal comprises a request to authorize the transaction using the negotiable instrument, and the request includes information comprising;

    a user-specified second amount of funds; and

    identification information which identifies the negotiable instrument;

    authorizing the transaction based at least in part on a determination that the host-specified first amount of funds associated with the negotiable instrument is equal to the user-specified second amount of funds specified in the request to authorize; and

    indicating that the transaction using the negotiable instrument was authorized, so that any future request to authorize one or more other transactions using the negotiable instrument will not be authorized.

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