Interbank account verification and funds transfer system and method
AssigneeWells Fargo Bank, N.A.
InventorsAl Hecht, Ann Kirk, Michael Miller, Karen Moore, Melanie Gipe
Life of this patent
Estimating the term…
Abstract
A computer-implemented method includes receiving, by a depository computing system, a check deposit for a first amount associated with a payee account of a payee, determining, by the depository computing system, the check deposit is an on-us transfer based on verifying that the payee account and a payor account of a payor are associated with a same financial institution, and posting, by the depository computing system in real time, the first amount to both the payee account and the payor account prior to settlement of the check deposit.
Claims15
A computer-implemented method, comprising:
- receiving, by an automated teller machine (ATM), a check deposit for a first amount associated with a payee account of a payee, wherein the check deposit is received in a paper format;
- determining, by the ATM, the check deposit is an on-us transfer based on verifying that the payee account and a payor account of a payor are associated with a same financial institution;
- posting, by the ATM in real time, the first amount to both the payee account and the payor account prior to settlement of the check deposit;
- and
- authorizing, by the ATM in real time, a withdrawal request for a second amount greater than the first amount, wherein the payor account comprises an initial amount prior to the check deposit, the second amount being greater than the initial amount;
- dispensing, by the ATM in real time, cash in the second amount;
- and
- wherein the authorization occurs prior to settlement of the check deposit, and wherein receiving the check deposit and the withdrawal request is a single fund transfer request.
An automated teller machine (ATM), comprising:
- at least one processing circuit having at least one processor coupled to at least one memory, the at least one processing circuit configured to:
- receive a check deposit for a first amount associated with a payee account of a payee, wherein the check deposit is received in a paper format;
- determine the check deposit is an on-us transfer based on verifying that the payee account and a payor account of a payor are associated with a same financial institution;
- post, in real time, the first amount to both the payee account and the payor account prior to settlement of the check deposit;
- and
- authorize, in real time, a withdrawal request for a second amount greater than the first amount, wherein the payor account comprises an initial amount prior to the check deposit, the second amount being greater than the initial amount;
- dispensing, in real time, cash in the second amount;
- and
- wherein the authorization occurs prior to settlement of the check deposit, and wherein receiving the check deposit and the withdrawal request is a single fund transfer request.
One or more non-transitory computer-readable storage media having instructions stored thereon that, when executed by at least one processing circuit of an automated teller machine (ATM), cause the at least one processing circuit to:
- receive a check deposit for a first amount associated with a payee account of a payee;
- determine the check deposit is an on-us transfer based on verifying that the payee account and a payor account of a payor are associated with a same financial institution;
- post, in real time, the first amount to both the payee account and the payor account prior to settlement of the check deposit;
- authorize, in real time, a withdrawal request for a second amount greater than the first amount, wherein the payor account comprises an initial amount prior to the check deposit, the second amount being greater than the initial amount;
- dispense, in real time, cash in the second amount;
- and
- wherein the authorization occurs prior to settlement of the check deposit, and wherein receiving the check deposit and the withdrawal request is a single fund transfer request.
Dependencies are inferred from the claim text.