US 8,301,567 B2 · System and method for processing checks and check transactions with thresholds for adjustments to ACH transactions

Abstract

A system and method of processing paper checks that divides into two independent paths the processing of a data file representing a check and the digital image of the check. The data files and image files are separated both in time and in space, with the data files being used to promptly initiate the transfer of funds to and from appropriate accounts, while the paper checks, at a remote location and typically lagging in time, are scanned to create digital image files and deposited as an image or substitute check if deemed ACH ineligible. The method provides for the comparison of data files to image files, based on MICR information, to find any unmatching or mismatched items for exception processing and a process to manage ACH-ineligible items as an image or substitute check. The system and method further provides for sorting exceptions according to transaction type (ACH eligible versus ACH-ineligible) and prioritizing the further processing of the exceptions based on transaction type.

Claims14

Dependent claims

A method for processing a plurality of paper checks, comprising:

a) receiving at least one data file containing a plurality of transaction records relating to a plurality of transactions, the transaction records being received without an image file;
b) scanning the plurality of paper checks with a digital image scanner thereby creating a plurality of digital image files of the paper checks;
c) submitting transaction records for ACH settlement processing;
d) comparing said digital image files with said transaction records to find matches;
e) determining a transaction amount difference by comparing a transaction amount from the matching transaction record with an image file transaction amount from the matched digital image file;
f) storing a first predefined threshold for amount mismatch, said first predefined threshold specifying an amount by which a customer can be undercharged in an ACH-processed transaction without reversing said transaction;
g) reversing ACH-processed transactions for which the transaction amount difference exceeds the predefined threshold;
and
h) generating by a computer a replacement transaction for the amount indicated by the image file transaction amount in cases where the transaction amount difference exceeds the predefined threshold.

6 more elements

A method for processing paper checks, comprising:

a) receiving, at a third party payment processor computer, at least one transaction data file containing a plurality of transaction records with each transaction record containing a transaction amount;
b) receiving, at the third party payment processor computer, a plurality of digital check images generated by scanning the paper checks with a digital image scanner, each digital check image being associated with an image file transaction amount for the paper check that was scanned to create the digital check image;
c) determining, at the third party payment processor computer, whether each transaction record is ACH-eligible or ACH-ineligible;
d) submitting, from the third party payment processor computer, ACH-eligible transaction records to the ACH network for settlement;
e) after submitting ACH-eligible transaction records to the ACH network for settlement, matching the ACH-eligible transaction records to a matched digital check image for the same check transaction;
and
f) determining a transaction amount difference by comparing the transaction amount from the matching transaction record with the image file transaction amount from the matched digital check image;
g) determining whether the transaction amount difference exceeds a predefined threshold;
h) reversing ACH-processed transactions for which the transaction amount difference exceeds the predefined threshold;
and
i) generating by a computer a replacement transaction for the amount indicated by the image file transaction amount in cases where the transaction amount difference exceeds the predefined threshold.

8 more elements

Dependencies are inferred from the claim text.

System and method for processing checks and check transactions with thresholds for adjustments to ACH transactions

Life of this patent

System and method for processing checks and check transactions with thresholds for adjustments to ACH transactions

Life of this patent

Abstract

Claims14