Automated customer initiated entry remittance processing system

Abstract

A computer-controlled funds processing and remittance processing system, for use by individual, business and other bank customers. The system eliminates the problems associated with batch processing of remittances and remittance advices in lockbox systems. Each participating bank receives, from each participating customer, identifying information regarding bills that are to be paid for that customer with the automated system. After initially collecting all necessary data regarding a participating customer's bills, the bank produces a paper form, which is manually completed by the customer, on a periodic basis. The customer manually inserts the amount to be paid for each bill being processed by the system, opposite pre-printed indicia indicating the identity of the payee. The resulting customer payment instruction document is delivered to the bank, and is optically scanned, to read the specific amounts to be paid for the respective bills. The bank has stored, in computer memory, the names and other identifying information regarding the billers for each customer. Once the customer payment instruction is received and scanned by the bank, which can occur on the day it is received, funds can automatically and promptly be transferred, together with appropriate customer identifying information, to each biller's designated bank and its application, using conventional clearinghouse systems. The invention includes a mailing envelope carrier for the information-containing document.

Dependencies are inferred from the claim text.