Check processing system

Details Check processing system Check processing system

1981-06-24

1982-11-09

Pitts, Harold I.

Registers

Systems controlled by data bearing records

Banking systems

235493, 235494, G06K 114

Patent

active

043586716

ABSTRACT:
A system which, by means of a specially devised instrument, affords the option of processing checks by Electronic Funds Transfer (EFT) procedure. The system includes a specially designed check having a punch out or other machine readable element which, by its presence and position, identifies the instrument as a check which may be processed by such EFT procedure. The check is also imprinted with certain covenants, which are stated as pertaining only to the processing of the check by EFT procedures. Therefore the check may also be used in completely routine fashion. The system is adapted to interpret such punch out or other machine readable elements and accompanying MICR data so as automatically route this check, as well as other types of banking instruments, in appropriate manners through clearance channels to the proper drawee.

REFERENCES:
patent: 4007355 (1977-02-01), Moreno

Affiliated with

Also associated with

Rating

Check processing system does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Check processing system, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Check processing system will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-747508