With Paper Check Handling Patents (Class 705/45)
  • Patent number: 7761376
    Abstract: A method for providing funding of and access to an investment vehicle, comprises the steps of establishing an investment vehicle, monetizing the investment vehicle by depositing funds therein by at least one predetermined investor, receiving a request for the funds by an employee of an employer, distributing the funds from the investment vehicle to a financial institution via a management entity upon direction of the management entity in response to the employee's request, transferring the funds from the financial institution to the employee via the employer, utilizing the funds for a predetermined economic activity by the employee, remitting the funds to the financial institution from an employee's subsequent earnings via an employer payroll system, redepositing the funds, remitted to the financial institution, into the investment vehicle via the management entity, and wherein the basis for the investment vehicle is the value of an employee's continuing employment with an employer.
    Type: Grant
    Filed: January 21, 2005
    Date of Patent: July 20, 2010
    Assignee: Excellerated Income Benefits Company, Inc.
    Inventors: Leonard Charles Cudzilo, Patrick Joseph Callahan, Jr.
  • Publication number: 20100176192
    Abstract: Producing print streams for efficiently generating properly formatted and ordered paper cash letters comprises print stream file that includes electronic form definitions for each cash letter document. The cash letter documents can include a cover page, one or more bundles of substitute checks, a bundle summary for each substitute check bundle, and/or a cash letter bundle summary. Information from an electronic image cash letter file can be input in data fields of the electronic form definitions. Printing the information in the print stream file results in a properly formatted and ordered paper cash letter including substitute checks and audit data. Each substitute check can include all of the MICR data provided on a corresponding, original paper check. The audit data includes the cover page, bundle summary(ies), and/or cash letter bundle summary, which can each detail the documents printed concurrently therewith.
    Type: Application
    Filed: March 24, 2010
    Publication date: July 15, 2010
    Applicants: Federal Reserve Bank of Dallas, Federal Reserve Bank of Kansas City, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Cleveland
    Inventors: Randall Lee Mueller, Thomas Edwin Schaadt, V. Srinivas Nori, Steven Q. Purser, Diane Marie Baggett
  • Publication number: 20100179894
    Abstract: A system for interfacing predetermined services to a user at a fixed location includes a processing platform running an operating system. Also included are a plurality of physical system resource interfaces for interfacing with available physical system resources. The physical system resources allow a user to gain access to the predetermined desired services. The system further includes a data store for storing configuration information for enabling the operating system to interface with the available physical system resources through the physical system resource interface associated therewith.
    Type: Application
    Filed: January 9, 2010
    Publication date: July 15, 2010
    Inventors: ANTHONY M. CACHERIA, III, DAVID HOOKER, WAYNE THOMAS MCHUGH, KRISTOPHER GLOVER, WEBB EDWARDS, ARTHUR MARTIN HOLBROOK, BARRETT JENKINS
  • Patent number: 7752136
    Abstract: A self-authenticating check authorization system and method includes a check that has standard bank and account information printed on the MICR line, as well as a one-way hash value that is computed based on the standard bank and account information as well as a personal identification code of a customer and a key. The scanned MICR line data is provided to a check verifier, which also receives the personal identification code from the customer. The check verifier performs a hashing algorithm on the received data, and compares the computed hash value to a hash value obtained from the scanned MICR line data. If there is a match, the check is verified; if not, the check is not verified.
    Type: Grant
    Filed: July 10, 2001
    Date of Patent: July 6, 2010
    Inventors: William D. Meadow, Randall A. Gordie, Jr., Sanjay P. Ahuja
  • Patent number: 7752129
    Abstract: Providing interest to clients' deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of the deposit account(s), exemptions to the limitation on earning interest in demand accounts is facilitated; additionally, dispersing the deposit account funds among multiple banks allows the client to obtain FDIC insurance for all of the deposited funds, which may amount to insurance in excess of the statutory maximum allowed (presently $100,000.00).
    Type: Grant
    Filed: October 2, 2000
    Date of Patent: July 6, 2010
    Assignee: Island Intellectual Property LLC
    Inventors: Bruce Bent, Bruce Bent, II
  • Patent number: 7748612
    Abstract: A cash dispensing automated banking machine (10) includes a user interface (12) including an opening (20). Users of the machine deliver individual sheets and stacks of sheets to and from the machine through the opening. Stacks of sheets may include sheets such as notes, checks or other documents. Stacks input to the machine may include mixtures of various types of sheets. The machine operates to receive notes, process checks and perform other operations. Notes received in the machine may be recycled and dispensed to other users. Checks processed by the machine may be imaged by an imaging device, cancelled and stored in the machine or alternatively returned to a user.
    Type: Grant
    Filed: April 21, 2006
    Date of Patent: July 6, 2010
    Assignee: Diebold, Incorporated
    Inventors: Keith Carpenter, Craig Hockman, Willis Miller, Laura Drozda, Paul Burns, Thomas B. Phillips, John C. Valcore, H. Thomas Graef, Edward L. Laskowski, James Meek, Martin J. Brown, Todd Galloway, Robert W. Barnett, Mike Ryan, James R. Kay, Mark A. Ward, David A. Peters, Greg Miller, Arindam Laha, Joseph M. Altier
  • Patent number: 7752286
    Abstract: An electronic item management and archival system for managing and archiving items. Each item includes at least one of image data, audio data, and video data. The system includes a server configured to receive items, archive at least one of the received items to an archive, and retrieve at least one of the archived items from the archive. In some embodiments, the server also includes architecture that supports a pool of threads promoting multiple, independent archive and retrieve operations concurrently.
    Type: Grant
    Filed: March 21, 2008
    Date of Patent: July 6, 2010
    Assignee: Fiserv Incorporated
    Inventors: Matthew Anderson, Krishna Balwalli, Laurie Benson, Bruce Bond, Portia Brown, Ying Cai, Dominic Da Silva, Keay Edwards, Harring Figueiredo, Mark Fiorentino, Eric Haettich, Gary Heller, Saeed Kaviani, Keith Lewandowski, Ellen McLaughlin, John Mudd, Kunal Mukherjee, Zarina Myles, Zoran Naskov, Aaron Phillips, Steven Savrda, Robert Wilson
  • Patent number: 7747529
    Abstract: A method and system of check presentation. At least some of the illustrative embodiments are methods comprising accepting a first paper check and a second paper check in exchange for a good or service (the second paper check postdated), converting the first paper check and the second paper check into a first electronic request and a second electronic request respectively, presenting the first electronic request for payment through a funds transfer network, electronically storing the second electronic request, and then presenting the second electronic request for payment through the funds transfer network on the postdated date.
    Type: Grant
    Filed: March 10, 2006
    Date of Patent: June 29, 2010
    Inventor: David J. Homoki
  • Patent number: 7747530
    Abstract: A device is provided that includes a monetary instrument having a surface, and a magnetic ink character recognition (MICR) line coupled to that surface. The MICR line includes an ABA number, a customer account number, and a one-way hash value. The one-way hash value is output from a hashing process using input including the ABA number, the customer account number, together with a personal identification code and a key that are not included on the MICR line. A method is also provided that authenticates a monetary instrument by comparing a computed one-way hash value with a one-way hash value that is located in the MICR line of the monetary instrument. At the point-of-sale, the MICR line data is scanned and the personal identification code obtained from the customer. The scanned data and the personal identification code are transmitted to a check verifier that provides a check verification status.
    Type: Grant
    Filed: September 11, 2008
    Date of Patent: June 29, 2010
    Inventors: William D. Meadow, Randall A. Gordie, Jr., Sanjay P. Ahuja
  • Publication number: 20100161489
    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: Application
    Filed: December 18, 2008
    Publication date: June 24, 2010
    Inventors: Ian C. Goodall, Robin I.G. Angus
  • Publication number: 20100153262
    Abstract: A computer system for administering an insurance policy and a loan made to the insured, includes a processor and a memory in communication with the processor. The processor is adapted to: access from the memory storage device data relating to the insurance policy and the loan; determine, based on the accessed data, an amount of a withdrawal from the insurance policy and an amount of a payment on the loan; determine, by deducting the amount of the payment on the loan from the amount of the withdrawal, an amount of a payment, if any, to the insured; and provide output signals to a payment system to implement the payment on the loan and the payment, if any, to the insured.
    Type: Application
    Filed: December 12, 2008
    Publication date: June 17, 2010
    Applicant: HARTFORD FIRE INSURANCE COMPANY
    Inventors: Richard J. Wirth, Keith E. Golembiewski
  • Patent number: 7739168
    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: January 20, 2006
    Date of Patent: June 15, 2010
    Assignee: C/BASE, Inc.
    Inventors: Matthew J. Gillin, Roger Korfmann, Paul L. Raden
  • Publication number: 20100145853
    Abstract: Embodiments of the present invention relate to methods and apparatuses for determining, recommending, and/or placing holds on deposit items.
    Type: Application
    Filed: February 9, 2010
    Publication date: June 10, 2010
    Applicant: BANK OF AMERICA CORPORATION
    Inventors: Ricardo Davila, Tommi Levi, David Wayne Barnhardt, David Alan Minsk, Roxanne White, Roberto Jose Dominguez, Mark David McCue
  • Publication number: 20100145858
    Abstract: According to the invention, a method for transferring a credit amount out of an online system using a money order is disclosed. In one step, pay-out instructions are received at a server computer system from a wide-area computer network coupled to a payor. The pay-out instructions include at least two of a payee, a delivery location, and the credit amount. A first handler associated with the payor and a second handler for preparation of the money order according to the pay-out instructions are determined. The credit amount is transferred from the first handler to the online system. The pay-out instructions are sent to the second handler.
    Type: Application
    Filed: November 2, 2009
    Publication date: June 10, 2010
    Applicant: First Data Corporation
    Inventors: Susan M. Milberger, Jeff D. Sherrard, Amy M. Dunker, Jackie M. Macfarlane, Eric L. Platte, Susan F. Abrahams, Cheryl L. Neofytides, Aamer Ali Baig, Peter M. Karas, James E. Cowell, James R. Yoder, Matt F. Golub
  • Patent number: 7731087
    Abstract: Systems and methods for electronically processing financial transactions involving corporate checks. A front end device at a location associated with a merchant and a check processing service configured to detect and process corporate checks. In one embodiment, the detection of the corporate check is achieved at the front end device by reading of an auxiliary on-us field in the check's magnetic ink character recognition (MICR) line. Such information denoting the check as a corporate check is used by the check processing service to at least partially base its assessment of whether to approve and process the corporate check electronically.
    Type: Grant
    Filed: September 30, 2003
    Date of Patent: June 8, 2010
    Assignee: First Data Corporation
    Inventors: Kerry Sellen, Cheryl Phillips
  • Publication number: 20100138328
    Abstract: A method for processing checks includes capturing check data from a check with a capture device of a check processing system, where the check data includes payee information. A category of the check is identified based at least in part on the payee information. A user account is updated with the category and at least a portion of the check data. A first edit to the check data is received from a user. A handwriting profile of the user is updated based on the first received edit. The handwriting profile is used to improve the accuracy of subsequently captured check data.
    Type: Application
    Filed: February 22, 2010
    Publication date: June 3, 2010
    Inventors: Dominic Victor Venturo, Todd Clarke Moning
  • Publication number: 20100138288
    Abstract: In accordance with one or more embodiments, a method and system are provided for facilitating the processing of at least one check in accordance with an offer which the account holder may accept, in one example, via a check being presented by the account holder as payment for a transaction.
    Type: Application
    Filed: February 15, 2010
    Publication date: June 3, 2010
    Inventors: Jay S. Walker, Daniel E. Tedesco, Magdalena M. Fincham, Dean P. Alderucci, Jason Krantz
  • Patent number: 7729983
    Abstract: A system providing a comprehensive tool useful in credit risk managing a set of loans. The system includes a method for obtaining an estimated financial outcome, i.e., a gain or a loss, for a particular loan, and applying the estimated loss for to the set. The system also includes a method for obtaining a probability of a loss for a particular loan, and applying the probability of loss to the set. The system further includes the generation of a list of loans from the set of loans with a heightened risk of loss.
    Type: Grant
    Filed: October 12, 2007
    Date of Patent: June 1, 2010
    Assignee: Clayton Fixed Income Services Inc.
    Inventor: Margaret Sue Ellis
  • Patent number: 7729990
    Abstract: Systems and methods of processing financial transaction information are provided. In one embodiment, a financial institution runs an index generating software program to generate a downloadable index of images of cleared checks. The account customer uses complementary software to remotely download, search, and display the index of cleared check images, together with the images themselves. In another embodiment, the financial institution periodically runs a software program to generate digital archives of the cleared check images for the account customer. The account customer is provided with secure online access to the digital archives. The account customer may use standard financial bookkeeping software to download and display the cleared check images and associate the cleared check images with transactions in the associated account registers.
    Type: Grant
    Filed: April 14, 2004
    Date of Patent: June 1, 2010
    Inventors: Stephen Michael Marceau, Robert Leland Jensen, Daniel Victor Smith, Damon Leigh Herrin
  • Patent number: 7719825
    Abstract: A faceplate for a housing of a computing device including a processor includes a bezel with interior and exterior surfaces. The bezel removeably covers at least a portion of an opening defined by the housing. A wireless local area network (LAN) unit is mechanically coupled to the interior surface of the bezel and comprises a data interface that enables data transfer between the wireless LAN unit and the processor.
    Type: Grant
    Filed: August 28, 2008
    Date of Patent: May 18, 2010
    Assignee: Marvell International Ltd.
    Inventors: Joseph Knapp, George Chien
  • Patent number: 7711626
    Abstract: Methods of the present invention identify an asset allocation model and at least one security associated there with. An investment account portfolio is stored that includes at least one substitute security associated with the identified at least one security. A virtual portfolio is then generated that includes the identified at least one security. A tax lot is created for the identified at least one security to identify a total value for the at least one security, and the method determines whether the virtual portfolio complies with the asset allocation model. The identified at least one security associated with the asset allocation model is restricted from the investment account portfolio.
    Type: Grant
    Filed: June 30, 2006
    Date of Patent: May 4, 2010
    Assignee: Checkfree Corporation
    Inventors: Hari Nanjundamoorthy, Charles R. Smith, III, Michele Pierdinock, William McKinney, Lavinia S. Zyvith, Reo A. Gonzales, Joseph A. Barone
  • Patent number: 7711644
    Abstract: A system for processing a composite trading order comprises a memory operable to store market data received from one or more market centers. The system further comprises a processor operable to generate a composite value based at least in part on the market data. The processor is further operable to receive a composite trading order associated with at least a portion of the composite value. The processor is further operable to generate a plurality of constituent trading orders that, when filled, combine to satisfy the composite trading order.
    Type: Grant
    Filed: April 5, 2006
    Date of Patent: May 4, 2010
    Assignee: BGC Partners, Inc.
    Inventors: Matthew W. Claus, James R. Driscoll, Gregory P. Manning, Joseph C. Noviello
  • Patent number: 7711645
    Abstract: A method for processing payments is provided that includes receiving with at least one server data representative of a plurality of payments. For at least one of the payments, the at least one server causes data representative of at least one third party offer to be mailed to the payee associated with the payment along with a check for the payment amount of value associated with the payment. The method also includes receiving with the at least one server, data representative of an acceptance of the at least one third party offer. Responsive to the acceptance, the at least one server may cause: a gift certificate to be issued to the payee; value in the amount of the payment minus a service fee to be transferred to a merchant associated with the at least one third party offer; and to cause the check to be voided.
    Type: Grant
    Filed: August 16, 2007
    Date of Patent: May 4, 2010
    Inventor: Anthony Morello
  • Patent number: 7711585
    Abstract: A method for determining a death benefit with respect to a charitable gift annuity contract, the method determining the death benefit funded on an after-tax basis of the charitable gift annuity. The method comprises determining if a wealth replacement rider has been selected; and if the wealth replacement rider has been selected, calculating the amount of the death benefit to be funded on the after-tax basis. The method further comprises calculating the new charitable gift annuity payout.
    Type: Grant
    Filed: February 28, 2005
    Date of Patent: May 4, 2010
    Inventor: Jonathan Paul Lundmark
  • Patent number: 7711175
    Abstract: An image reading apparatus includes a carrying unit that carries an irradiated object having a reflecting portion and a transmitting portion in a carrying direction, a first light source arranged on one face side of the irradiated object that irradiates light to an irradiated portion in a path of carrying the irradiated object, a second light source arranged on other face side that irradiates light to the irradiated portion, a detecting unit arranged to be spaced apart from the irradiated portion by a predetermined distance that detects the transmitting portion, a lighting control unit that controls to put on the second light source during a time period of passing the transmitting portion through the irradiated portion, a lens array arranged on one face side of the irradiated object that converges reflecting light reflected by the reflecting portion and transmitting light, and a sensor that receives converged light.
    Type: Grant
    Filed: April 10, 2006
    Date of Patent: May 4, 2010
    Assignee: Mitsubishi Denki Kabushiki Kaisha
    Inventors: Takafumi Endo, Shigeru Toyota
  • Patent number: 7711176
    Abstract: A computer-implemented method is provided of processing a substitute check which has been made from an original check. The computer-implemented method comprises (a) reading from the substitute check a printed magnetic ink character recognition (MICR) codeline, (b) reading from the substitute check an imaged MICR codeline, and (c) comparing the printed MICR codeline of step (a) and the imaged MICR codeline of step (b) to determine if the printed MICR codeline and the imaged MICR codeline match.
    Type: Grant
    Filed: December 16, 2005
    Date of Patent: May 4, 2010
    Assignee: NCR Corporation
    Inventor: James M. Rossignoli
  • Publication number: 20100100399
    Abstract: A computer system for administering an insurance account includes a processor and a memory in communication with the processor. The processor is adapted to: access from a memory storage device data indicative of a payment mode associated with premium payments to the account or payments from the account; access from the memory data indicative of a calculation associated with the account dependent on the payment mode; perform the calculation based on the accessed payment mode dependent data; and provide an output signal having data indicative of the performed calculation.
    Type: Application
    Filed: October 20, 2008
    Publication date: April 22, 2010
    Applicant: HARTFORD FIRE INSURANCE COMPANY
    Inventors: Philip W. Michalowski, Keith E. Golembiewski, Joseph M. Weiss
  • Publication number: 20100100467
    Abstract: A payment service provider receives a request to pay a payee on behalf of a payor and determines, responsive to the received request, that the payee will not accept the requested payment via a charge to a credit card account of the payor with a credit card issuer. The payor wishes to fund the requested payment from the credit card account. Accordingly, the payment service provider transmits, to the credit card issuer, account information identifying the credit card account and payment information representing the requested payment for inclusion in a credit card statement of the credit card issuer to the payor for the credit card account. However, the payment service provider directs the requested payment to the payee on behalf of the payor from a payment account other than the credit card account.
    Type: Application
    Filed: December 30, 2009
    Publication date: April 22, 2010
    Applicant: CHECKFREE CORPORATION
    Inventors: Randal A. McCoy, Peter J. Kight, David E. Torgerson, Casey W. Kozee
  • Publication number: 20100100462
    Abstract: A system and method for determining and displaying a payment lead time or expected payment delivery time in an electronic payment system is disclosed. A payee associated with a payor is identified. Prior to receiving a payment request to pay the payee on behalf of the payor, an expected payment delivery time for a payment to fulfill the payment request is determined. The expected payment delivery time is based on at least one payment attribute associated with the payee and at least one payment attribute associated with the payor. An interface screen is then generated for displaying the determined expected payment delivery time.
    Type: Application
    Filed: December 28, 2009
    Publication date: April 22, 2010
    Applicant: CHECKFREE CORPORATION
    Inventors: Paul J. Lyda, Timothy Herdklotz, Donald Kenneth Hobday, JR.
  • Patent number: 7698222
    Abstract: A user or a device may separate a check into two or more portions prior to generating a digital image of the check for remote deposit of the check. The user or a device may separate the check by cutting or tearing the check. After separating the check into the portions, the user may generate a digital image of the portions of the check using a scanner for example. The digital image may be transmitted to an institution for deposit of the check. The institution may retrieve the images of the portions of the check and generate an image of the check based on the portions, by combining the images of the portions for example. The image of the check that may be generated based on the images of the portions may be processed for deposit.
    Type: Grant
    Filed: September 2, 2008
    Date of Patent: April 13, 2010
    Assignee: United Services Automobile Association (USAA)
    Inventor: Michael Patrick Bueche, Jr.
  • Patent number: 7693783
    Abstract: A method is provided for supporting processing of a transaction conducted between a first party and a second party. The first party accepts payment via a plurality of different payment options selectable by the second party, and the plurality of different payment options are associated with a plurality of different authentication protocols prescribed therefor.
    Type: Grant
    Filed: May 23, 2006
    Date of Patent: April 6, 2010
    Assignee: CardinalCommerce Corporation
    Inventors: Chandra S. Balasubramanian, Francis M. Sherwin, Michael A. Keresman
  • Patent number: 7689503
    Abstract: A predatory lending detection system and method are described. The system is adapted to receive information pertaining to loans, store general loan information, as well as predatory lending laws, and process the loan information to detect violations of applicable predatory lending laws. In particular, the system compares the loan information to the general loan information and to the applicable predatory lending laws, detects variances therebetween, and scores such detected variances to determine a risk category for the loan.
    Type: Grant
    Filed: November 13, 2001
    Date of Patent: March 30, 2010
    Assignee: Interthinx, Inc.
    Inventors: Steven C. Halper, Constance A. Wilson
  • Patent number: 7686211
    Abstract: A card actuated automated banking machine (152, 198, 200) includes a plurality of transaction function devices. The transaction function devices include a card reader (170), a printer (174), a bill dispenser (176), a coin dispenser (178), a display (182), a check imaging device (186) and at least one processor (190). The automated banking machine is operative responsive to receiving a check and certification data to dispense cash in exchange for the check. The person presenting the check need not provide user identifying inputs through input devices in order to receive cash for the check. A check recipient prior to presenting the check for payment is also enabled to verify that the check will be paid through communication with at least one computer (204) through at least one consumer interface device (208).
    Type: Grant
    Filed: August 21, 2008
    Date of Patent: March 30, 2010
    Assignee: Diebold Self-Service Systems division of Diebold, Incorporated
    Inventors: Mark D. Smith, Atta Mateen, David E. Kolinski-Schultz, Dale H. Blackson, Natarajan Ramachandran
  • Patent number: 7685069
    Abstract: A method of generating a financial market index. The method includes selecting a plurality of constituent securities to comprise the index and determining a weight for each of the securities based on at least one forecasted parameter that is determined for each of the plurality of constituent securities that comprise the index. The method also includes generating the financial market index based on the weights.
    Type: Grant
    Filed: October 4, 2005
    Date of Patent: March 23, 2010
    Assignee: Morgan Stanley Capital International, Inc.
    Inventors: Raman Aylur Subramanian, Arun Kumar, Giacomo Fachinotti, Valery Rousseau, Khalid Ghayur
  • Patent number: 7685049
    Abstract: A client device coalesces data received from an exchange, and provides a client application such as a graphical user interface with the opportunity to process fewer, but up-to-date, data updates from an exchange when a large volume of prices becomes available. Accordingly, the trader can be assured of receiving updated information that are fed to the client applications at a rate that is cohesive with that client device's processing speed.
    Type: Grant
    Filed: June 26, 2002
    Date of Patent: March 23, 2010
    Assignee: Trading Technologies International Inc.
    Inventor: Scott F. Singer
  • Publication number: 20100070415
    Abstract: A system that includes computer hardware, computer software, apparatus, and methodology that enables individuals, businesses, and all types of organizations (both for profit and non-profit) to capture and securely transmit check images (including, but not limited to, personal checks, business checks, travelers checks, money orders, merchant coupons, food coupons, line of credit checks, etc.), deposit information, and other information from remote locations (i.e., locations that could include the financial institution's remote locations, other financial institution's locations, businesses, private residences, etc.), for the purpose of having those checks credited to the depositing individual's or organization's bank account(s) and having the check images (and/or physical checks) entered into the bank check clearing channels for ultimate delivery to the maker bank for payment out of the maker's account.
    Type: Application
    Filed: November 23, 2009
    Publication date: March 18, 2010
    Inventors: Danne L. BUCHANAN, William Ronald Titus
  • Patent number: 7680739
    Abstract: A method for processing checks includes capturing check data from a check, where the check data includes payee information or payor information. A category of the check is identified based at least in part on the captured check data. A user account is updated with the category and at least a portion of the captured check data. The user account is analyzed to identify transactions involving paper checks. Based on the analysis, an incentive is provided to a user associated with the user account, where the incentive discourages paper check transactions by the user.
    Type: Grant
    Filed: November 7, 2008
    Date of Patent: March 16, 2010
    Assignee: U.S. Bank, National Association
    Inventors: Dominic Victor Venturo, Todd Clarke Moning
  • Patent number: 7680734
    Abstract: Providing interest to clients' deposited funds without the legal limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from a single deposit account in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of a single account, legal exemptions to the limitation on earning interest in demand accounts is facilitated.
    Type: Grant
    Filed: November 26, 2002
    Date of Patent: March 16, 2010
    Assignee: Island Intellectual Property LLC
    Inventors: Bruce Bent, Bruce Bent, II
  • Publication number: 20100051687
    Abstract: A system for processing deposits and/or withdrawals in a financial institution accepts a plurality of documents, including currency bills, at an input receptacle of a document-processing device, converts the image of at least some of the documents to electronic data representing the image. The currency bills are denominated by the document processing device, and the total value of the bills included in each deposit is accumulated. Whenever the total value of the bills in a deposit exceeds a prescribed value, a report may be generated containing at least an identification of the specified account, the total value of the bills in the deposit, and the serial numbers of the bills. The serial numbers may be extracted from images of the bills.
    Type: Application
    Filed: November 11, 2009
    Publication date: March 4, 2010
    Applicant: Cummins-Allison Corp.
    Inventors: John E. Jones, William J. Jones, Frank M. Csultis
  • Patent number: 7661587
    Abstract: Systems and methods are disclosed, where check transaction risks can be determined based on a pattern of changes in identifier information such as MICR field information and driver license number. A MICR field on a given check includes a routing transit number and an account number. Some fraudulent check transactions involve a pattern of alterations of the MICR field, such as changing, adding, or removing of one or more digits or characters of the account number or the routing transit number. Various embodiments of systems and methods can be configured to detect such pattern of changes in the MICR field, thereby facilitating detection of fraudulent check transactions. Various techniques of the present disclosure can be used to detect fraudulent electronic check transactions such as web-based transactions, as well as paper check transactions.
    Type: Grant
    Filed: December 29, 2005
    Date of Patent: February 16, 2010
    Assignee: First Data Corporation
    Inventors: Waisum Mok, Andre Boudousquie
  • Patent number: 7664705
    Abstract: In accordance with one or more embodiments, a method and system are provided for facilitating the output of an offer to an account holder of a financial account, which offer the account holder may accept via a check being presented by the account holder as payment for a transaction. For example, the account holder may alter an indicium on the check to indicate acceptance of the offer. An example of an offer is an offer to sell to the account holder transactional overdraft protection for the transaction for which a check is provided as payment. Another example of an offer to provide a benefit to the account holder in exchange for a commitment by the account holder to an obligation. Such an offer may be provided by, for example, a merchant different than the merchant at which the check is being provided as payment for a transaction. In one or more embodiments, the offer or an indication of the offer may be printed on the check or handwritten on the check.
    Type: Grant
    Filed: May 27, 2004
    Date of Patent: February 16, 2010
    Assignee: Walker Digital, LLC
    Inventors: Jay S. Walker, Daniel E. Tedesco, Magdalena M. Fincham, Dean P. Alderucci, Jason Krantz
  • Patent number: 7664687
    Abstract: The invention involves a system and a method of determining collectability of a check writer from a database including negative information of a plurality of check writers for check writing approval or denial. The invention provides for an improvement of determining collectability of a check writer in order to more effectively distinguish between collectible check writers and non-collectible check writers. The invention includes receiving the information of the check writer, processing the information to determine a score of the check writer, classifying the check writer within a predetermined category, and removing or retaining the check writer information from the database, depending on the category within which the check writer is classified.
    Type: Grant
    Filed: December 29, 1999
    Date of Patent: February 16, 2010
    Assignee: First Data Corporation
    Inventors: Cassandra J. Mollett, Thomas E. Burnside
  • Patent number: 7657093
    Abstract: Column misalignment between a character string recognized by a MICR and a character string recognized by optical character recognition is corrected to improve character recognition reliability. A magnetic data reading unit detects the magnetism of a character string printed in magnetic ink and outputs the detected magnetic data. An image reading unit optically reads the same character string printed in magnetic ink and outputs the image data. A magnetic data recognition unit applies a character recognition process to the magnetic data output by the magnetic data reading unit and outputs magnetic data recognition result. An image data recognition unit applies character recognition to the image data output by the image reading unit and outputs image data recognition result.
    Type: Grant
    Filed: October 19, 2005
    Date of Patent: February 2, 2010
    Assignee: Seiko Epson Corporation
    Inventors: Sachie Shizuka, Takashi Takehana, Masahiro Katagiri
  • Patent number: 7654447
    Abstract: The described embodiments contemplate a system, method and computer-readable medium with computer-executable instructions for providing checks to an account owner by comparing a quantity of cleared checks to a quantity of issued checks. The novel method includes receiving a request to register for an automated check reorder service, determining a first quantity of issued checks, determining a second quantity of cleared checks, comparing the second quantity of cleared checks to the first quantity of issued checks, and sending a third quantity of new checks to the account owner. The novel method also may include receiving a request for material to be sent to the account owner, determining the account owner's last known address, notifying the account owner at the account owner's last known address, and sending the material to the account owner.
    Type: Grant
    Filed: December 29, 2005
    Date of Patent: February 2, 2010
    Assignee: United Services Automobile Association (USAA)
    Inventor: Ryan Barth
  • Patent number: 7650305
    Abstract: A system for generating a display of at least one side of a market includes a computer system having one or more computers. The displayed side of the market includes one or more offers from one or more market participants. Each offer includes an offered price and an offered quantity. The computer system receives market data reflecting the one or more offers and generate a display of the received market data. The display includes a price axis, a quantity axis, and one or more offer bars. Each offer bar represents one or more offers including substantially equal offered prices. Placement of an offer bar along the price axis represents the substantially equal offered prices for the one or more offers represented by the offer bar. The height of an offer bar relative to the quantity axis representing the aggregate offered quantity for the one or more offers represented by the offer bar.
    Type: Grant
    Filed: October 3, 2001
    Date of Patent: January 19, 2010
    Assignee: i2 Technologies US, Inc.
    Inventor: Manoel Tenorio
  • Patent number: 7644041
    Abstract: An automated teller machine (ATM) (10) includes a display device (14), an input device (16), a cash acceptor (22), and a cash dispenser (24). The ATM also has access to a network, such as the Internet. The ATM enables a user thereof to make online purchases of goods and to receive from the user a cash payment for the purchase through a cash acceptor. The ATM administrator pays the merchant who supplies the goods. An ATM may be operative to also dispense purchased digital content and/or gift certificates. Purchased goods may also be hand delivered to an indicated address. The ATM may be further operative to charge a user fee for transactions.
    Type: Grant
    Filed: February 27, 2003
    Date of Patent: January 5, 2010
    Assignee: Diebold Self-Service Systems division of Diebold, Incorporated
    Inventors: David Schultz, Dale H. Blackson, Nat Ramachandran, Mark D. Smith
  • Patent number: 7644043
    Abstract: A check processing apparatus and method acquire and save data verifying the identity of a person using a check, and output this information in an effective manner to prevent improper use of the check. A check scanner 140 images all or part of the presented check C. A photo ID scanner 110 scans personal identification 71 presented as proof of identity by the person using the check, and a controller 160 converts the scanner output to generate personal identification image data. A merge file generating means 170 merges the image data from the check scanner with the personal identification image data to produce a merged file. The merged file is stored in merged file storage means 180 and output to a display 33.
    Type: Grant
    Filed: August 4, 2004
    Date of Patent: January 5, 2010
    Assignee: Seiko Epson Corporation
    Inventor: Masahiro Minowa
  • Publication number: 20090319424
    Abstract: Apparatus and methods for electronically depositing a check in a bank account. In some embodiments, the apparatus and methods may involve a check identification module configured to analyze content of an electronically imaged postal mail item; and a customer control module configured to receive from a customer an instruction to deposit the check in the bank account.
    Type: Application
    Filed: November 5, 2008
    Publication date: December 24, 2009
    Applicant: Bank of America
    Inventors: Matthew A. Calman, Doug Dejong, Todd Inskeep, Garrett C. Briggs, Marie LaQuerre, Kevin Benton, Mark Zanzot, Robert L. Kee, David T. Frew
  • Patent number: 7636690
    Abstract: The present invention is directed to methods and apparatus for processing check data, such as data stored using magnetic indicia. In one embodiment, a check transaction processing system receives an indication that a first check transaction from a first payor failed to clear because at least a portion of first MICR or other account data associated with the first check transaction is incorrect. The check transaction processing system reads a personal identifier associated with the first payor, wherein the personal identifier was provided in association with the first check transaction. MICR data or other account data associated with a previously processed check transaction associated with the personal identifier is located.
    Type: Grant
    Filed: May 9, 2007
    Date of Patent: December 22, 2009
    Assignee: First Data Corporation
    Inventors: Amy Swift, Waisum Mok
  • Patent number: 7635085
    Abstract: Aspects of the invention provide for an end-to-end currency handling, and servicing apparatus. The apparatus may be used in any cash-centric business or enterprise for cash register till set up and balancing, back office reconciliation, and other cash payment handling activities. Further aspects of the invention provide real-time access to cash receipts for enterprise use in making financial and planning decisions.
    Type: Grant
    Filed: December 21, 2006
    Date of Patent: December 22, 2009
    Assignee: Bank of America Corporation
    Inventors: Brian Duane Brown, Anthony B. Calderone, Henry W. Debnam, Shane Anthony Johnson, Bethann Johnston, Michelle Davis Nichols, John Daniel Shaver, John N. Venzon, John Scott Walbert, Margaret Morgan Weichert