With Paper Check Handling Patents (Class 705/45)
  • Patent number: 8412632
    Abstract: A point-of-sale (POS) module and associated methods are described for performing a transaction involving a check. The POS module interacts with one or more add-in modules. Each add-in module is associated with a particular method for processing a payment using a check. Accordingly, the POS module can accommodate multiple different workflows by plugging in appropriate add-in modules.
    Type: Grant
    Filed: May 30, 2008
    Date of Patent: April 2, 2013
    Assignee: Microsoft Corporation
    Inventors: Mehul Shah, Himanshu Lal, Daniel L. Reed
  • Patent number: 8401968
    Abstract: A mobile group payment service enables members of a group to access a group account. The group account may enable members to transmit funds, request funds, and perform account queries, and modify account settings, among other possible operations. A member may request a payment from the group account to a target account. A transaction authorization service may facilitate an authorization process to determine whether the requested payment is authorized by one or more of the other members of the group. Upon authorization, the requested payment may be completed by transferring funds to the target account.
    Type: Grant
    Filed: March 27, 2008
    Date of Patent: March 19, 2013
    Assignee: Amazon Technologies, Inc.
    Inventors: Paul C. Schattauer, Gerald Yuen, Philip Yuen, Diwakar Gupta
  • Patent number: 8392332
    Abstract: Remote deposit of checks can be facilitated by a financial institution. A customer's general purpose computer and image capture device may be leveraged to capture an image of a check and deliver the image to financial institution electronics. Additional data for the transaction may be collected as necessary. The transaction can be automatically accomplished utilizing the images and data thus acquired.
    Type: Grant
    Filed: December 8, 2010
    Date of Patent: March 5, 2013
    Assignee: United Services Automobile Association (USAA)
    Inventors: Charles Lee Oakes, III, Randy Ray Morlen, R. Bharat Prasad Nuggehalli, Troy Bartlette Huth
  • Patent number: 8392306
    Abstract: A method performed by a transfer instrument issuer involves issuing, to a recipient, a certificate which is linked to a national card account obtained by the transfer instrument issuer from an account issuer different from the transfer instrument issuer, without both issuing and providing a physical card for the national card account to the recipient of the certificate, the certificate having been purchased by a purchaser, who is not also the recipient, and containing all information necessary for the purchase of goods or services from any merchant who is capable of processing economic transactions involving one of the plurality national card accounts for which a physical card has issued, but without presentment of the physical card.
    Type: Grant
    Filed: November 15, 2011
    Date of Patent: March 5, 2013
    Assignee: Citibank, N.A.
    Inventors: Matthew J. Gillin, Roger Korfmann, Paul L. Raden
  • Patent number: 8387868
    Abstract: A method of performing money transfer send transactions begins with receiving registration information from a customer, including customer identification and qualification information and payment source identification and performing verification of at least a portion of the identification and qualification information and the payment source identification and upon sufficient verification building a distribution profile. The method proceeds by receiving from the customer and storing in the distribution profile send transaction specifications for staging each of one or more proposed send transactions, and receiving a send initiation instruction with associated customer authentication data and responsive thereto identifying a distribution profile and at least one send transaction specification to be executed.
    Type: Grant
    Filed: July 19, 2012
    Date of Patent: March 5, 2013
    Assignee: MoneyGram International, Inc.
    Inventor: James M. Henry
  • Patent number: 8386383
    Abstract: A method, system and program product for managing a plurality of individual client deposits for multiple clients, the method comprising: accessing, an electronic database, comprising: aggregated account information for a plurality of Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in a plurality of banking institutions, and client information for each of a plurality of the respective clients, i, comprising (i) a total of a respective client's funds deposited across a plurality of the FDIC-insured interest-bearing aggregated accounts held in a plurality of the banking institutions; and (ii) a maximum deposit percentage of the respective client funds to be held in at least one of the banking institutions; maintaining funds for said individual clients in a plurality of the FDIC-insured, interest-bearing aggregated deposit accounts at a plurality of banking institutions, wherein each of the banking institutions has at least one of the aggregated deposit a
    Type: Grant
    Filed: November 20, 2009
    Date of Patent: February 26, 2013
    Assignee: Island Intellectual Property LLC
    Inventors: Bruce Bent, Bruce Bent, II
  • Patent number: 8380597
    Abstract: A system an method for providing banks with access to a previously inaccessible exiting international infrastructure. A provider bank first establishes on its system, a set of accounts for each of the customers of a client bank (the client bank environment). The client bank environment has its own Demand Deposit Account (DDA) module to process account entries and calculate interest and its own funds transfer module to initiate and to receive funds transfers. The primary interface into the funds transfer section in the client bank environment is to the funds transfer section of the provider bank environment. The funds transfer section of the provider bank is coupled to the systems which constitute the international banking infrastructure that is able to process banking transactions on a global basis for the customers of the client bank.
    Type: Grant
    Filed: September 16, 2010
    Date of Patent: February 19, 2013
    Assignee: JPMorgan Chase Bank, N.A.
    Inventors: Nigel Night, Richard Baker, Mel Metherell, Ian Chittick, Richard Parkin, Sang Leong, Les Green, Marc A. Anders
  • Publication number: 20130041827
    Abstract: In an exemplary embodiment, a system includes an intake module, the intake module operable to process a plurality of payment instruments. The system includes a memory operable to store an image file associated with one of the payment instruments, the payment instrument associated with a payment account, and store a plurality of flagged account records. The system also includes a processor operable to determine if at least one flagged account record exists that is associated with the payment account and create a payment exception record if a flagged account record exists that is associated with the payment account. The processor is also operable to determine a status of the payment exception record, associate the status of the payment exception record with the image file, and designate a physical destination of the payment instrument, wherein the physical destination is designated based on the status of the payment exception record.
    Type: Application
    Filed: August 9, 2011
    Publication date: February 14, 2013
    Applicant: Bank of America Corporation
    Inventors: Theresa Brennan, Sarah C. D'Auito
  • Patent number: 8374964
    Abstract: Embodiments of the invention describe an electronic method for processing stranded payments and lockbox payments at the same designated payment location. The method includes receiving a stranded payment at a non-designated payment location, and electronically scanning the stranded payment at the non-designated payment location. The scanned information is transmitted, in a secure manner, to a designated payment location remote from the non-designated payment location. The stranded payment and a lockbox payment are cleared, in the same electronic workflow, the transmitted information is used in the clearing process. Embodiments of the invention also include updating, for each stranded and lockbox payment, the accounts receivable system of the customer receiving the stranded or lockbox payment, and transmitting a response indicating the final status of the clearing of the stranded payment to the non-designated payment location.
    Type: Grant
    Filed: July 20, 2011
    Date of Patent: February 12, 2013
    Assignee: HSBC Bank USA, N.A.
    Inventor: Cheryl Gurz
  • Patent number: 8370232
    Abstract: As banking transactions are processed by a bank teller, all of the relevant information with respect to the transaction (e.g., dollar amount) is captured in an electronic file. Each of the electronic files from the various branches of the bank are forwarded to a central back office processing center where the electronic files are combined into a single Transaction Repository. At the end of the branch day, all of the paper associated with the transactions is forwarded from the branches to the back office processing center. The paper transactions are imaged in the conventional manner and the Magnetic Ink Character Recognition (MICR) data is read from the paper. The present invention then automatically correlates the images and MICR data captured from the paper with the complete transaction record contained in the Transaction Repository. Most of the conventional back office processing can now be performed without the need to perform character recognition and without the need for excess human intervention.
    Type: Grant
    Filed: November 18, 2005
    Date of Patent: February 5, 2013
    Assignee: JPMorgan Chase Bank, National Association
    Inventors: Louis Riehl, George Anderson
  • Patent number: 8365987
    Abstract: A presentation instrument package includes a presentation instrument and a negotiable instrument. The package is configured for display at a point-of-sale, and the presentation instrument and negotiable instrument are configured for activation at the point-of-sale.
    Type: Grant
    Filed: August 22, 2007
    Date of Patent: February 5, 2013
    Assignee: Money Network Financial, LLC
    Inventors: Richard Jackman, Mark Herrington, Mark V. Putman
  • Patent number: 8363920
    Abstract: A cheque recognition device includes a magnetic ink character recognition unit disposed on a cheque moving path along which an introduced cheque is transferred such that it can recognize a magnetic ink character printed on the cheque headed for one side of the cheque moving path; and a control unit for analyzing the magnetic ink character recognized in the magnetic ink character recognition unit to verify whether or not the cheque is normal.
    Type: Grant
    Filed: September 24, 2009
    Date of Patent: January 29, 2013
    Assignee: Nautilus Hyosung Inc.
    Inventors: Woo Ho Lee, Jae Hoon Kwak, Jin Yong Hwang, Hee Chang Lee
  • Patent number: 8355986
    Abstract: A method for designating accounts for funds from a check to be deposited is described. The method includes receiving, at a processing center having a processor, a direct deposit government entitlement check from a government entity to be deposited. The check may include an identifier. The method further includes comparing the identifier with a customer database to determine that funds from the check have been designated to be divided into sub-amounts and deposited into a plurality of accounts. Each of the plurality of accounts has account type and an associated expenditure designation. The method then receives a report of a total amount deposited from the check for each type of associated expenditure designation and each account type.
    Type: Grant
    Filed: June 7, 2007
    Date of Patent: January 15, 2013
    Assignee: The Western Union Company
    Inventors: Dianna Lyons, Kellie Norden
  • Patent number: 8346607
    Abstract: A learning model is built on a combination of advertiser, publisher and user data. The learning model can be applied to all advertisers in an advertising system. The learning model provides predicted conversion rates for a given advertisement (“ad”) appearing on different publisher networks. A predicted conversion rate represents the probability that a click on a given ad appearing on a given publisher will lead to a conversion. The predicted conversion rates are used to generate a multiplier. The multiplier is used to automatically adjust the advertiser's bid (e.g., maximum cost-per-click (CPC)) for the given ad prior to an auction for the ad. Adjusting the advertiser's bid equalizes a cost-per-conversion among the publishers for the ad.
    Type: Grant
    Filed: April 2, 2012
    Date of Patent: January 1, 2013
    Assignee: Google Inc.
    Inventors: Scott S. Benson, Simon Tong
  • Publication number: 20120330842
    Abstract: A system and method for providing one or more client systems for communicating with a host system over a network. The client systems use a scanner to convert a paper form of a check, coupon, or other paper document to a digital representation and then the client systems send the digital representation over a network to the host system for storage. The host system archives the digital representation and determines the appropriate processing stream for a transaction related to the paper document (e.g. coupon, check), via a decisioning engine, based on a set of predefined stream selection rules. The host system then communicates the transaction to a back end transaction destination, according to the selected processing stream. Examples of the transaction destination can include ACH, Reproduce Paper, and Remittance.
    Type: Application
    Filed: June 26, 2012
    Publication date: December 27, 2012
    Inventor: Graham Heit
  • Patent number: 8341046
    Abstract: A method begins by storing payment request data, which, for a client, includes a payables profile and an accounts payable data file. The method continues by receiving payment remittance information subsequent to initiation of a payment in accordance with the payment request data. The method continues by storing the payment remittance information. The method continues by consolidating the payment remittance information and the payment request data to produce consolidated payment data. The method continues by generating at least one report based on the consolidated payment data.
    Type: Grant
    Filed: February 13, 2008
    Date of Patent: December 25, 2012
    Assignee: Visa U.S.A. Inc.
    Inventors: John N. Marchetti, Matthew Mullen
  • Patent number: 8332303
    Abstract: Systems, methods, apparatus, computer program code and means for generating quality data associated with an option order are provided. In some embodiments, an option order is received, the option order including information identifying a customer, and information identifying a desired option. The option order is associated with an order time. First national best bid and offer (NBBO) data are identified for the desired option at the order time. Execution information associated with the option order are identified, where the execution information includes information identifying a price, an exchange, and an execution time. Second NBBO data for the desired option at the execution time is identified, and the execution information is compared with at least one of the first and second NBBO data.
    Type: Grant
    Filed: September 18, 2002
    Date of Patent: December 11, 2012
    Assignee: Goldman, Sachs & Co.
    Inventors: Alan Mark Buckwalter, John Paul Xenakis
  • Patent number: 8326761
    Abstract: A system and method for MICR-based duplicate detection and management identifies duplicate presented items on day one across a plurality of payment channels, prior to posting, preventing them from impacting financial institution customers by rerouting to an adjustments team. Inquiry files containing MICR data for a plurality of presented items are evaluated by a duplicate detection module. Each item presented is evaluated against all previous items based on its MICR line. Unique items are processed in the usual manner. Duplicate suspects undergo further processing. Suspects having identical MICR data, but that are not duplicates, such as NSF (non-sufficient funds) checks being re-deposited, are identified and posted. The remaining suspects go in the suspect queue of a universal workstation. After being researched, suspects found not to be duplicates are posted. The remaining suspects are flagged as duplicates and routed to an adjustor for further action.
    Type: Grant
    Filed: September 28, 2011
    Date of Patent: December 4, 2012
    Assignee: Wells Fargo Bank, N.A.
    Inventors: Alan W. Hecht, Rick Rotella, Brent Mangum, Kathy Smalley, Jack Tobey, Kathy Tyo
  • Patent number: 8326015
    Abstract: The present invention relates to automated document processing and more particularly, to methods and systems for document image capture and processing using mobile devices. In accordance with various embodiments, methods and systems for document image capture on a mobile communication device are provided such that the image is optimized and enhanced for data extraction from the document as depicted. These methods and systems may comprise capturing an image of a document using a mobile communication device; transmitting the image to a server; and processing the image to create a bi-tonal image of the document for data extraction. Additionally, these methods and systems may comprise capturing a first image of a document using the mobile communication device; automatically detecting the document within the image; geometrically correcting the image; binarizing the image; correcting the orientation of the image; correcting the size of the image; and outputting the resulting image of the document.
    Type: Grant
    Filed: April 20, 2011
    Date of Patent: December 4, 2012
    Assignee: Mitek Systems, Inc.
    Inventor: Grigori Nepomniachtchi
  • Patent number: 8321349
    Abstract: A method is provided of operating a self-service check depositing terminal to provide an acknowledgement receipt. The method comprises identifying a depositor, receiving one or more checks from the depositor, generating a check deposit receipt associated with the transaction, obtaining an electronic mail (email) address associated with the identified depositor, attaching the check deposit transaction receipt to the email, printing an acknowledgement receipt which contains the email address, and delivering the printed acknowledgment receipt to the depositor. In another embodiment, the printed acknowledgement receipt may contain a Uniform Resource Locator (URL) associated with the check deposit receipt.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: November 27, 2012
    Assignee: NCR Corporation
    Inventors: Ian C. Goodall, Robin I. G. Angus
  • Patent number: 8315932
    Abstract: News information is received. It is determined if the news information contains a reference to a company. It is further determined if the news information matches criteria associated with the company. Securities are automatically trade upon determining that said news information contains a reference to the company and determining that said news information matches criteria associated with the company.
    Type: Grant
    Filed: June 30, 2011
    Date of Patent: November 20, 2012
    Assignee: News Technologies LLC
    Inventors: Steven A. Burrows, John Elliott
  • Patent number: 8311945
    Abstract: A method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check.
    Type: Grant
    Filed: January 30, 2007
    Date of Patent: November 13, 2012
    Assignee: Solutran
    Inventors: Kari Hawkins, Scott Reid
  • Patent number: 8301567
    Abstract: A system and method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check. The system and method further provides for sorting exceptions according to transaction type (ACH eligible versus ACH-ineligible) and prioritizing the further processing of the exceptions based on transaction type.
    Type: Grant
    Filed: April 28, 2009
    Date of Patent: October 30, 2012
    Inventor: Kari Hawkins
  • Patent number: 8296230
    Abstract: Described is a method and system for a remote deposit system. The method comprises receiving facsimile data corresponding to facsimile of a plurality of checks, constructing digitized images of the checks as a function of the facsimile data, gathering check data from each of the digitized images, and processing the check data according to a check processing procedure to settle transactions referenced by each of the checks.
    Type: Grant
    Filed: August 14, 2006
    Date of Patent: October 23, 2012
    Assignee: EFT Network, Inc.
    Inventors: Steven Davis, Stephen A. Schutze
  • Patent number: 8296236
    Abstract: Centralized check image storage system. The present invention provides for sharing check images stored in a substantially centralized storage system between and/or among banks in support of the check collection process. In some embodiments, check images are received from the capture bank via a landing zone at the centralized storage facility. These images and information supporting the check collection process can be in the form of load file. A cross-reference file including information supporting the check clearing process such as unique handles identifying the check images is received from a paying bank, possibly also via a landing zone. Check images can be identified based on these unique handles, so that the check images can be made accessible to both the capture bank and the paying bank from the substantially centralized storage system.
    Type: Grant
    Filed: May 31, 2011
    Date of Patent: October 23, 2012
    Assignee: Viewpointe Archive Services, LLC
    Inventors: Patrick S. McMonagle, Douglas G. Smith, Richard L. Norman
  • Patent number: 8290845
    Abstract: Systems and methods for presenting fraud detection information are presented. In one example, a computer system analyzes empirical data to detect potentially fraudulent activity and alerts users of the potentially fraudulent activity via a fraud detection user interface. The fraud detection user interface determines a set of user interface components to suitable to present the potentially fraudulent activity and presents facts associated with the potentially fraudulent activity to a user for further analysis and investigation.
    Type: Grant
    Filed: October 20, 2010
    Date of Patent: October 16, 2012
    Assignee: FIS Financial Compliance Solutions, LLC
    Inventors: Gregory David Leibon, Katherine Beck Harris, Mark Jeffrey Waks
  • Patent number: 8286860
    Abstract: A method of porting value from a negotiable instrument to a presentation instrument includes acquiring information from the negotiable instrument, acquiring information from the presentation instrument, sending at least a portion of the information from the negotiable instrument to a check processor, receiving a message from the check processor that identifies whether the negotiable instrument has been associated with a Positive Pay File, and, based at least in part on the message from the check processor, determining an amount of value to credit to an account associated with the presentation instrument.
    Type: Grant
    Filed: November 6, 2007
    Date of Patent: October 16, 2012
    Assignee: Money Network Financial, LLC
    Inventors: Mark Herrington, Mark V. Putman, Richard Jackman
  • Patent number: 8275715
    Abstract: The disclosure details the implementation of apparatuses, methods, and systems for a deposit process manager (“DPManager”) including aspects of a decisioning engine, aspects of a deposit delay component, and of a de queueing component. The DPManager is supported by the first workflow process engine in the financial industry to provide end-to-end solutions for complex brokerage and retirement deposits and check clearing. The OPManger can automatically route checks to be cleared electronically at numerous banks/clearing entities based on routing number, time of day, bank fees and float expense. The DPManager can capture data electronically without manual intervention with deposit slips.
    Type: Grant
    Filed: June 18, 2007
    Date of Patent: September 25, 2012
    Assignee: Bank of America Corporation
    Inventors: Salvatore R. Caruso, James K. Macklin, Jr.
  • Patent number: 8272564
    Abstract: The check carrier consists of an envelope of translucent material that is dimensioned to closely conform to the dimensions of a standard check. The back of the check carrier includes an endorsement window through which a bank or other financial institution can apply its endorsement stamp directly to the check. The bottom of the check carrier may be provided with an area for receiving the MICR printing such that the MICR can be read directly off of the carrier. The MICR area can be removed. The open end of the check carrier can be sealed closed using a repositionable adhesive. The adhesive can also be used interior of the check carrier such that the adhesive contacts the check to fix the check within the carrier.
    Type: Grant
    Filed: March 18, 2010
    Date of Patent: September 25, 2012
    Assignee: Bank of America Corporation
    Inventors: Kerry M. Cantley, Teresa J. Vasquez
  • Patent number: 8271386
    Abstract: A system for managing and processing exceptions to shared global treasury limits across multiple different platforms can be utilized by an organization to eliminate inconsistent client experiences and increase overall operating efficiency. A management and processing system can decision transactions of clients (e.g., customers, users, members, account-holders, clients, and the like) through a combination of straight-through and manual processes that are utilized according to select qualifying criteria. The system provides for auto-decisioning of low-risk, low-amount transactions while enabling authorized users to manually decision and otherwise manage transactions through various workflow-driven graphical user interfaces (GUIs).
    Type: Grant
    Filed: October 17, 2010
    Date of Patent: September 18, 2012
    Assignee: Bank of America Corporation
    Inventors: Daniel S. Seay, Robert C. Wider, Rajesh Khosla, Jared J. Rorrer, Manoj Kapil, Nathan L. Bernbaum, Leslie D. Standlee
  • Patent number: 8271368
    Abstract: A method and system for electronically clearing financial instruments through a clearing system in which a per item cost of clearing instruments varies with the time of day. Files of items containing data scanned from financial instruments including an amount of each instrument may be received by a control system that may apply a rule to sort the items by determining whether the item be stored or forwarded for clearing. The rule may include a step of determining whether an amount of the instrument exceeds a predetermined value or meets a certain criteria, and if so, forwarding the instrument for clearing without storage. If the amount of the instrument does not exceed the first predetermined value or meet the criteria, the system may store the item for forwarding at a later time when the per item fee for clearing is lower.
    Type: Grant
    Filed: February 6, 2012
    Date of Patent: September 18, 2012
    Assignee: Keycorp
    Inventors: Douglas Paul Davis, Edward Kwabena Obeng, David T. Reichard
  • Patent number: 8266065
    Abstract: A system receives account access information from a user. The account is then accessed using the received access information. Data is harvested from a web page associated with the account or received from another financial data source. The user's ability to access the account is authenticated based on the obtained information.
    Type: Grant
    Filed: November 30, 2007
    Date of Patent: September 11, 2012
    Assignee: Cashedge, Inc.
    Inventors: Venkatachari Dilip, Sanjeev Dheer, Amir Sunderji, Param Singh
  • Patent number: 8255330
    Abstract: Various aspects relate to systems, methods or devices for processing overdrafts made by customers. A particular embodiment is directed towards, a system that is configured to receive transaction data from customer-oriented terminals. The transaction data includes requests for monetary transfers on behalf of customers that hold a checking or savings account at a financial institution. In response to receiving the transaction data, the system accesses customer account information, which can include the amount of funds in the checking or savings accounts. The system determines whether sufficient funds exist in the accounts to cover the financial transactions. In response to a potential overdraft of one or more customer accounts, stored customer information is accessed to determine and authorize overdraft deferment eligibility of the customer based upon the stored customer information. The system defers an overdraft fee by providing a grace period during which funds can be transferred to cover the overdraft.
    Type: Grant
    Filed: October 8, 2010
    Date of Patent: August 28, 2012
    Assignee: U.S. Bank National Association
    Inventors: Valerie Felice Cameo, Mark Dickelman, Victoria Ann Vogt
  • Patent number: 8255307
    Abstract: A system and method for quantifying the working capital benefit of pooling a number of separate cash accounts. The average (mean) cash balance of the pooled account is determined to be the sum of the means of each of the individual accounts. Similarly, the standard deviation of the pooled account is determined to be the square root of the sum of the squares of the standard deviations of the individual accounts. Accordingly, the minimum cash level of the pooled account is 2.3 times the square root of the sum of the squares of the standard deviations of the individual accounts. In order to determine the benefit of pooling, the present invention determines the difference between the minimum aggregate cash required by the separate companies and the minimum cash required in the pooled account. If pooling is to be beneficial, from a working capital perspective, the minimum cash required in the pooled account will be significantly less than the aggregate cash required by the separate companies.
    Type: Grant
    Filed: January 18, 2011
    Date of Patent: August 28, 2012
    Assignee: JPMorgan Chase Bank, N.A.
    Inventor: Mark L. Beard
  • Patent number: 8249989
    Abstract: A system and method of check cashing at an ATM are provided. In some examples, the system and method may include receiving a check at an ATM that does not include denominations of bills and/or coins to cash the check. The amount of the check may be rounded up to an amount for which appropriate denominations are available and the difference between the amount of the check and the rounded up amount may be charged to an account of a user, such as checking account, savings account, credit card, and the like.
    Type: Grant
    Filed: February 4, 2010
    Date of Patent: August 21, 2012
    Assignee: Bank of America Corporation
    Inventor: Morgan S. Allen
  • Patent number: 8235282
    Abstract: Embodiments of the present invention relate to methods and apparatuses for determining, communicating, and/or executing hold decisions for deposit items. For example, a method is provided that includes: (a) receiving information associated with a deposit item; (b) determining an actual deposit amount identified by the deposit item; (c) determining a payee account to receive the deposit item and a drawer account on which the deposit item is drawn; (d) determining a hold limit for the payee account; (e) determining an adjusted deposit amount for the deposit item based at least partially on: (i) the actual deposit amount identified by the deposit item, and (ii) one or more characteristics associated with the drawer account, and (f) determining a hold decision for the deposit item based at least partially on a comparison of the adjusted deposit amount to the hold limit.
    Type: Grant
    Filed: February 9, 2010
    Date of Patent: August 7, 2012
    Assignee: Bank of America Corporation
    Inventors: Ricardo Davila, Tommi Levi, David Wayne Barnhardt, David Alan Minsk, Roxanne White, Roberto Jose Dominguez
  • Patent number: 8231057
    Abstract: Systems and methods for processing checks using 2D barcodes are provided. A user submits a digital image of a check that includes a 2D barcode. The 2D barcode has embedded positional information of one or more check features which can be decoded and compared to the check features optically identified on the digital image of the check. From this, a set of rotational and scaling adjustments can be computed by comparing estimated positional information with the positional information of the one or more check features retrieved from the barcode. A more accurate representation of the check is then produced by applying the set of rotational and scaling adjustments to the digital image of the check. Once a more accurate representation of the check has been produced, the check can be electronically processed using a routing transit number found on the check.
    Type: Grant
    Filed: December 14, 2010
    Date of Patent: July 31, 2012
    Assignee: United Services Automobile Association
    Inventors: Andre Rene Buentello, Sharon Kay Haverlah
  • Patent number: 8229840
    Abstract: Option contracts are traded by valuing an option that has at least one of a) strike price or b) expiration time unknown at the time the option is valued. The previously unknown values of the option are assigned at the time or after the time the trade is completed. An implied underlying price stream is generated from the option prices through the use of feed back between market participants and the marketplace. The resulting system is useful in trading option contracts of short time duration.
    Type: Grant
    Filed: December 16, 2010
    Date of Patent: July 24, 2012
    Assignee: Microtick LLC
    Inventors: Mark Daniel Jackson, David James Norman
  • Patent number: 8229833
    Abstract: Presented is a method for calculating and distributing quoting share revenue to exchange members that contribute quote data to market data feeds. First, the method reads in trading data chronologically for a particular day. Using an object oriented framework, the method divides the symbols and orders into groups of objects to facilitate the tracking of the total price, quantity, and seconds displayed for each symbol. The timestamp of each message is read and the seconds field is parsed ignoring fractional seconds. Credits are awarded for each second the quote is displayed at the National Best Bid/Offer (“NBBO”) by multiplying the price, quantity, and elapsed whole seconds. These quote credits are stored by the system for each member and symbol. Members are eligible to earn quote credits on either the bid or the offer or both at the same time.
    Type: Grant
    Filed: September 28, 2007
    Date of Patent: July 24, 2012
    Assignee: International Securities Exchange, LLC
    Inventor: William Ciabattoni
  • Patent number: 8225992
    Abstract: A method of performing money transfer send transactions begins with receiving registration information from a customer, including customer identification and qualification information and payment source identification and performing verification of at least a portion of the identification and qualification information and the payment source identification and upon sufficient verification building a distribution profile. The method proceeds by receiving from the customer and storing in the distribution profile send transaction specifications for staging each of one or more proposed send transactions, and receiving a send initiation instruction with associated customer authentication data and responsive thereto identifying a distribution profile and at least one send transaction specification to be executed.
    Type: Grant
    Filed: January 31, 2011
    Date of Patent: July 24, 2012
    Assignee: MoneyGram International, Inc.
    Inventor: James M. Henry
  • Patent number: 8218851
    Abstract: Stored documents can be recognized and identified by evaluation of their attributes from an image file to obtain a document specification that can be compared to stored data about the document. The image file is analyzed using a processor in order to discern image attributes. The image attributes form a specification for the document in the image. This specification can then be compared to the stored criteria using the processor, and the result of the comparison can be stored. An embodiment of the invention can be used in a check processing system for a financial institution. In such a case, the corresponding data comprises MICR data and the image attributes can, for example, indicate whether the document is a check in a carrier, as opposed a paper check by itself.
    Type: Grant
    Filed: March 19, 2009
    Date of Patent: July 10, 2012
    Assignee: Bank of America Corporation
    Inventors: Kerry M Cantley, Kenneth R Cox, Theresa A Haynes, Ronald R Hollander
  • Patent number: 8210426
    Abstract: An automated banking machine is operative to carry out financial transactions and includes a user interface. The user interface includes a card reader which is operative to read data on user cards which identify user's financial accounts. A fascia of the machine includes a keypad through which users input confidential data. Covers prevent unauthorized persons from viewing confidential inputs to the keypad. Alternatively, movable panels are movable to prevent unauthorized viewing of confidential inputs. Alternatively a keypad cover is selectively collapsible to prevent digit access. A visual indicator is operative to indicate to a user that keypad inputs are being encrypted. Disinfecting techniques may be used to disinfect manual contact surfaces of the machine.
    Type: Grant
    Filed: January 12, 2011
    Date of Patent: July 3, 2012
    Assignee: Diebold Self-Service Systems division of Diebold, Incorporated
    Inventors: Klaus Steinbach, Ray Motz, Anne Doland, James Block, Paul D. Magee, Richard C. Lute, Donald S. Nelson, David A. Barker
  • Publication number: 20120166342
    Abstract: A method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check. A process for translating raw MICR data to a desired format, and for identifying the proper translation to be applied, is described.
    Type: Application
    Filed: February 3, 2012
    Publication date: June 28, 2012
    Inventors: Scott T. Reid, Kari Hawkins
  • Publication number: 20120158587
    Abstract: A teller terminal for handling a deposit/withdrawal request from a customer. The teller terminal is comprised of a scanner, an identifying unit, a determining unit, and a display unit. The scanner generates a check image based on check received from the customer and generate a slip image based on a slip related to the check. The identifying unit extracts check information from the check image and extracts slip information from the slip image. The determining unit determines whether or not corresponding pieces of information between the check information and the slip information match each other. The display unit displays the determination result determined by the determining unit.
    Type: Application
    Filed: December 21, 2010
    Publication date: June 21, 2012
    Applicant: GLORY LTD.
    Inventor: Tomoyuki KUBO
  • Publication number: 20120158592
    Abstract: A teller terminal is provided to handle check cashing. The teller terminal is comprised of a storage unit, a scanner, an identifying unit, a charge setting unit, and a display unit. The storage unit stores bank information and charges associated therewith. The scanner generates a check image based on a check received from a customer. The identifying unit extracts bank information and amount information from the check image. The charge setting unit determines, based on the extracted bank information, a charge related to check cashing by referring to the storage unit. The display unit displays a withdrawal amount calculated based on the extracted amount information and the determined charge.
    Type: Application
    Filed: December 21, 2010
    Publication date: June 21, 2012
    Applicant: GLORY LTD.
    Inventor: Tomoyuki KUBO
  • Patent number: 8204293
    Abstract: A document processing system comprising one or more document scanning devices that extract information from document images that uniquely identify a document. The system further comprises a central processor remotely connected to the document scanning devices. The central processor is configured to receive the document images and the extracted information from the document scanning devices and is further configured to execute a correction routine configured to adjust errors in the extracted information from the document image.
    Type: Grant
    Filed: March 7, 2008
    Date of Patent: June 19, 2012
    Assignee: Cummins-Allison Corp.
    Inventors: Frank M. Csulits, Matthew Anderson, John R. Blake, Curtis W. Hallowell, Robert J. Klein, Douglas U. Mennie, Gary Watts
  • Publication number: 20120150745
    Abstract: A document processing system comprising one or more document scanning devices that extract information from document images that uniquely identify a document. The system further comprises a central processor remotely connected to the document scanning devices. The central processor is configured to receive the document images and the extracted information from the document scanning devices and is further configured to execute a correction routine configured to adjust errors in the extracted information from the document image.
    Type: Application
    Filed: February 22, 2012
    Publication date: June 14, 2012
    Applicant: Cummins-Allison Corp.
    Inventors: Frank M. Csulits, Matthew Anderson, John R. Blake, Curtis W. Hallowell, Robert J. Klein, Douglas U. Mennie, Gary Watts
  • Patent number: 8195570
    Abstract: In accordance with one embodiment of the invention, a system is provided that allows a point of sale device to capture the signature of a check writer at the time a check is presented for ACH processing. In accordance with another embodiment, a test can be made to compare optically read information from the face of a check against a negative database or a risk management database to reduce the risk of bad checks being processed by a merchant.
    Type: Grant
    Filed: December 17, 2007
    Date of Patent: June 5, 2012
    Assignee: First Data Corporation
    Inventors: Tamila Barron, Bruce Dragt, Daniel Ahles
  • Publication number: 20120136791
    Abstract: A method and system for electronically clearing financial instruments through a clearing system in which a per item cost of clearing instruments varies with the time of day. Files of items containing data scanned from financial instruments including an amount of each instrument may be received by a control system that may apply a rule to sort the items by determining whether the item be stored or forwarded for clearing. The rule may include a step of determining whether an amount of the instrument exceeds a predetermined value or meets a certain criteria, and if so, forwarding the instrument for clearing without storage. If the amount of the instrument does not exceed the first predetermined value or meet the criteria, the system may store the item for forwarding at a later time when the per item fee for clearing is lower.
    Type: Application
    Filed: February 6, 2012
    Publication date: May 31, 2012
    Applicant: KeyCorp
    Inventors: Douglas Paul Davis, Edward Kwabena Obeng, David T. Reichard
  • Patent number: RE43888
    Abstract: According to the present invention, a business is issued a deposit card readable on a debit card reader enabling the business to transmit deposit information to its bank or financial institution for crediting rather than debiting of its account. More particularly, a method is provided for facilitating bank deposits for a business having a debit card reader configured to send deposit information to a bank at which the business maintains at least one account. The method comprises the steps of: (i) compiling deposit information concerning cash and negotiable instruments to be deposited in the account; (ii) transmitting the deposit information to the bank via the debit card reader; (iii) consolidating the cash and negotiable instruments into a deposit package; (iv) labelling the deposit package to link it to the deposit information in step (ii); and, (v) delivering the deposit package from step (iv) to the bank.
    Type: Grant
    Filed: July 29, 2011
    Date of Patent: January 1, 2013
    Inventor: Richard Vallance