Registers – Systems controlled by data bearing records – Banking systems
Patent
1992-03-17
1995-02-28
Dolinar, Andrew M.
Registers
Systems controlled by data bearing records
Banking systems
364405, G06F 1530
Patent
active
053939638
ABSTRACT:
A check authorization system and process that provides an issuing company to control all aspects of the check authorization, including the issuing of transaction authorization, the transaction approval, and the bank reconciliation. Presigned drafts are carried by authorized personnel for use when away from one's domicile. When funds are required, an authorized person obtains a transaction authorization number form the issuing company via telephone for recordation upon the presigned draft. The location cashing the draft contacts the issuing company for a transaction approval code, which is recorded on the draft, before accepting and cashing the draft. Subsequently, the draft is presented to a bank for payment. The securing of or transaction authorization number requires the recordation of the area code and telephone number for tracking of the authorized person's location.
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Carr Daniel A.
Thomas Audrey C.
Thomas Harvey P.
Company Chex, Inc.
Dolinar Andrew M.
Jaeger Hugh D.
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