Systems and methods for depositing funds to a financial service provider

A method for allowing a client to deposit funds to a financial service provider through an intermediate banking institution, comprising

• providing a number associated with a location code that permits the client to make deposits into a transfer account at the intermediate banking institution;
• transmitting data that includes the number associated with the location code from the intermediate banking institution to the financial service provider;
• crediting the client's account at the financial service provider after reading the data;
• and
• transferring the funds from the transfer account to an account belonging to a clearing firm of the financial service provider.

A system for allowing a client to deposit funds to a financial service provider through an intermediate banking institution comprising

• a deposit slip provided to the client, said slip having an associated client account number to help identify the client;
• a transmitter of data including an amount of the funds, the associated client account number, and a transfer account number to send the data from the intermediate banking institution to the financial service provider alerting the financial service provider of a pending deposit;
• and
• a clearing firm having an account into which the funds may be transferred from a transfer account.

A method executed in a computer system for allowing a client to deposit funds to a financial service provider through an intermediate banking institution comprising

• reading a file received from the intermediate banking institution to determine an amount of the funds deposited by the client and an associated account number that helps identify the client;
• storing data that includes said amount and account number into a database;
• processing data from said database to schedule a transfer of the funds from a transfer account at the intermediate banking institution to an account of a clearing firm;
• and
• transmitting data from said database to the clearing firm to transfer the funds from an account of the financial service provider to an account of the client.