Express check conversion

Details Express check conversion Express check conversion

2003-10-30

2010-02-09

Elisca, Pierre E (Department: 3621)

Data processing: financial, business practice, management, or co

Business processing using cryptography

Secure transaction

C705S042000, C705S035000, C705S001100

Reexamination Certificate

active

07660771

ABSTRACT:
A technique is provided for automatically converting checks to ACH debits. The process is a two-part process in which the MICR line in a check is read at the point the check is presented and a decision is made if the check can be converted to an ACH debit. The decision is made by applying various rules. If the system is unable to convert the check to an ACH debit, then the check is processed as a normal check. If a decision is made that the check can be processed as an ACH debit, then the MICR line is parsed for the financial institution which issues the check to create the ACH debit.

REFERENCES:
patent: 5053607 (1991-10-01), Carlson et al.
patent: 5175682 (1992-12-01), Higashiyama et al.
patent: 5195133 (1993-03-01), Kapp et al.
patent: 5297202 (1994-03-01), Kapp et al.
patent: 5326959 (1994-07-01), Perazza
patent: 5412190 (1995-05-01), Josephson et al.
patent: 5465206 (1995-11-01), Hilt et al.
patent: 5484988 (1996-01-01), Hills et al.
patent: 5532464 (1996-07-01), Josephson et al.
patent: 5691524 (1997-11-01), Josephson
patent: 5783808 (1998-07-01), Josephson
patent: 5832463 (1998-11-01), Funk
patent: 5848400 (1998-12-01), Chang
patent: 5893080 (1999-04-01), McGurl et al.
patent: 5920847 (1999-07-01), Kolling et al.
patent: 6032133 (2000-02-01), Hilt et al.
patent: 6070150 (2000-05-01), Remington et al.
patent: 6164528 (2000-12-01), Hills et al.
patent: 6170744 (2001-01-01), Lee et al.
patent: 6189785 (2001-02-01), Lowery
patent: 6223168 (2001-04-01), McGurl et al.
patent: 6243689 (2001-06-01), Norton
patent: 6283366 (2001-09-01), Hills et al.
patent: 6301379 (2001-10-01), Thompson et al.
patent: 6354491 (2002-03-01), Nichols et al.
patent: 6408284 (2002-06-01), Hilt et al.
patent: 6654487 (2003-11-01), Downs, Jr.
patent: 6754640 (2004-06-01), Bozeman
patent: 7020639 (2006-03-01), Slater
patent: 2003/0023555 (2003-01-01), Rees
patent: 2003/0182227 (2003-09-01), Guzman
patent: 2004/0148235 (2004-07-01), Craig
patent: 2005/0091132 (2005-04-01), Phillips et al.
patent: 409178443 (1997-07-01), None
S. Weiner; ElectronicPayments in the U.S. Economy: An Overview.
Curley, B.; Bank Systems + Technology; May 1999;First Union Division Offers Check Processing At POS.
Foster, C.; 1st European Financial Industry Technology Conference; 1989; Electronic Dealer Drafting-A Practical Application Of EDI.
“Saga Automated Clearing House Solution;” updated Apr. 04, 2006; <http://lasershowproduction.com/english/business/multikanalni—sistemi/clearing.htm>; 2 pages.
David, Rick; “Check 21—The Check Clearing for the 21st Century Act;” accessed Dec. 5, 2007; 3 pages.
IEEE; “A rule based expert system for check routing and cash letter management;” © 2007; 1 page.
Kendler, Peggy Bresnick; “Clearing and Settlement;” Bank Systems & Technology; Sep. 27, 2004; 4 pages.
NCR Corporation; “NCR Poised to Support Merchant Reduction of Check-Clearing Costs, In Step with New Back-Office Conversion Ruling;” May 10, 2007; 2 pages.

Affiliated with

Also associated with

Rating

Express check conversion does not yet have a rating. At this time, there are no reviews or comments for this patent.

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

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-4219707