Interbank account verification and funds transfer system and method

A non-transitory computer-readable media having computer-executable instructions embodied therein that, when executed by a processor of a depository bank computer system, cause the depository bank computer system to:

• receive information regarding a funds transfer from a payor to a payee;
• forward, in response to receiving the information regarding the funds transfer from the payor to the payee, an inquiry message including the information regarding the funds transfer to an account verification service computer system, the information including an identifier of a paying bank computer system that maintains an account of the payor in an account database different from an account database of the depository bank computer system maintaining an account of the payee, the account verification service computer system including an organized data structure including at least some information indicative of a likelihood of the funds transfer being fraudulent, the information received in batch form from the paying bank computer system prior to a completion of the funds transfer;
• receive real time account status information of the account of the payor, the real time account status information derived from the data structure and received via the account verification service computer system, the real time account status information based on information regarding the account of the payor maintained in the account database of the paying bank computer system that is received in batch form;
• and
• authorize, in real time relative to when the real time account status information is received, a release of the funds to the payee based on the real time account status information received via the account verification service computer system, wherein authorizing the release of the funds triggers the depository bank computer system to generate and deliver a message regarding authorization of the funds transfer to the paying bank computer system via the account verification service computer system.

A depository bank computer system comprising:

• an account database;
• network interface logic configured to allow data communication over a network among the depository bank computer system, an account verification service computer system, and a paying bank computer system;
• account processing logic configured to process a funds transfer from a payor having a first account associated with the paying bank computer system to a payee having a second account associated with the depository bank computer system, the paying bank computer system storing account status information of the first account in an account database different from an account database of the depository bank computer system storing account status information of the second account, the account processing logic configured to:
• receive information regarding the funds transfer from the payor to the payee;
• forward, by the depository bank computer system, in response to receiving the information regarding the funds transfer from the payor to the payee, an inquiry message including the information regarding the funds transfer to the account verification service computer system, the information including an identifier of the paying bank computer system that maintains the first account of the payor, the account verification service computer system including an organized data structure including at least some information indicative of a likelihood of the funds transfer being fraudulent, the information received in batch form from the paying bank computer system prior to a completion of the funds transfer;
• receive real time account status information of the first account, the real time account status information derived from the data structure and received via the account verification service computer system, the real time account status information based on information regarding the account of the payor stored in the account database of the paying bank computer system that is received in batch form;
• and
• authorize, in real time relative to when the real time account status information is received, a release of the funds to the payee based on the real time account status information received via the account verification service computer system, wherein authorizing the release of the funds triggers the depository bank computer system to generate and deliver a message regarding authorization of the funds transfer to the paying bank computer system via the account verification service computer system;
• a batch feed data channel configured to receive the information indicative of a likelihood of the funds transfer being fraudulent and the information regarding the account of the payor from the paying bank computer system in batch form;
• and
• a real-time data channel configured to receive the real time account status information of the first account of the payor from the paying bank computer system in real time.