Method and apparatus for processing checks to reserve funds

Abstract

A bank device communicates with an account holder device, such as a telephone or computer operated by the account holder. The bank device receives therefrom check data that includes an account identifier, a check identifier, and an amount of funds. The account identifier indicates a financial account and the check identifier indicates a check drawn on the financial account. The amount of funds represents an amount to reserve for payment with the check. The bank device in turn makes the amount of funds unavailable for use in the financial account so the account holder may not withdraw or otherwise remove the amount of funds. The bank device generates a code that indicates the check, and transmits the code to the account holder device. Subsequently, a payee, such as a merchant presented with the specified check, may verify that the check does indeed have an amount of funds reserved for payment therewith. The bank device receives the code from the payee, and determines the amount of funds that are reserved for payment with the check. An appropriate message that indicates the reserved amount of funds is transmitted to the payee.

What is claimed is:  
     
         1 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check; and    transmitting the code.    
     
     
         2 . The method of  claim 1 , further comprising: 
 receiving an authorization identifier before the step of making the amount of funds unavailable for use in the financial account.    
     
     
         3 . The method of  claim 2 , further comprising: 
 determining whether the authorization identifier is valid.    
     
     
         4 . The method of  claim 3 , in which the step of making the amount of funds unavailable for use in the financial account is performed if the authorization identifier is valid.  
     
     
         5 . The method of  claim 3 , further comprising: 
 determining whether the authorization identifier corresponds to at least one predetermined authorization identifier.    
     
     
         6 . The method of  claim 1 , in which the check data further includes an indication of at least one of: 
 an expiration date,    a presentment period within which the check should be presented for payment,    payee, and    a bank maintaining the financial account.    
     
     
         7 . The method of  claim 1 , in which the code further indicates: 
 the amount of finds.    
     
     
         8 . The method of  claim 1 , in which the code further indicates at least one of: 
 an expiration date,    a presentment period within which the check should be presented for payment,    a payee,    a bank maintaining the financial account, and    a time the code was generated.    
     
     
         9 . The method of  claim 1 , in which the code includes the account identifier and the check identifier.  
     
     
         10 . The method of  claim 1 , in which the step of generating a code: 
 encrypting at least the account identifier and the check identifier to generate the code.    
     
     
         11 . The method of  claim 1 , in which the step of encrypting comprises: 
 encrypting the amount of finds to generate the code.    
     
     
         12 . The method of  claim 1 , in which the step of encrypting comprises: 
 encrypting supplementary check data to generate the code, the supplementary check data including an indication of at least one of 
 an expiration date,  
 a presentment period within which the check should be presented for payment,  
 a payee,  
 a bank maintaining the financial account, and  
 a time the code was generated.  
   
     
     
         13 . The method of  claim 1 , farther comprising: 
 creating a record that is identified by the account identifier and the check identifier, the record storing the amount of funds.    
     
     
         14 . The method of  claim 13 , in which the record further stores an indication of at least one of 
 the amount of funds,    an expiration date,    a presentment period within which the check should be presented for payment,    a payee,    a bank maintaining the financial account, and    a time the code was generated.    
     
     
         15 . The method of  claim 1 , in which the step of making the amount of funds unavailable for use in the financial account comprises: 
 adjusting an unavailable balance of the financial account based on the amount of funds.    
     
     
         16 . The method of  claim 1 , in which the step of making the amount of funds unavailable for use in the financial account comprises: 
 transferring the amount of funds from the financial account.    
     
     
         17 . The method of  claim 16 , in which the step of transferring the amount of funds from the financial account comprises: 
 transferring the amount of funds from the financial account to an inaccessible account.    
     
     
         18 . The method of  claim 1 , further comprising: 
 determining an available balance of the financial account;    and in which the step of making the amount of funds unavailable is performed only if the available balance is not less than the amount of funds.    
     
     
         19 . A method for processing checks, comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 an amount of funds that is unavailable for use in a financial account, the amount of funds reserved for payment with a check; and  
   transmitting a message that indicates the amount of funds.    
     
     
         20 . The method of  claim 19 , further comprising: 
 receiving a signal representing a request to ascertain whether the check has been claimed;    determining whether the check has been claimed; and    transmitting a message indicating whether the check has been claimed.    
     
     
         21 . The method of  claim 20 , further comprising: 
 if the check has not been claimed, storing an indication that the check has been claimed.    
     
     
         22 . The method of  claim 19 , in which the check data further includes 
 an account identifier that indicates the financial account, and    a check identifier that indicates the check, the check being drawn on the financial account.    
     
     
         23 . The method of  claim 19 , in which the message further indicates at least one of the financial account and the check.  
     
     
         24 . The method of  claim 19 , further comprising: 
 determining supplementary check data based on the code, the supplementary check data including an indication of at least one of 
 an expiration date,  
 a presentment period within which the check should be presented for payment,  
 a payee,  
 a bank maintaining the financial account,  
 a time the code was generated, and  
 whether the check was cashed.  
   
     
     
         25 . The method of  claim 24 , in which the message further indicates the supplementary check data.  
     
     
         26 . The method of  claim 19 , further comprising: 
 receiving a request indicating a requested amount;    and in which the step of transmitting a message comprises:    transmitting a message indicating whether the requested amount is greater than the amount of funds.    
     
     
         27 . A method for processing checks, comprising: 
 receiving a signal indicating a request to pay on a check, the signal further representing a check identifier, an account identifier and a first amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account; and    making the first amount of funds available for use in the financial account.    
     
     
         28 . A method for processing checks, comprising: 
 receiving a code that is encrypted with an amount of funds, the amount of funds reserved for payment with a predetermined check; and    decrypting the code to determine the amount of funds.    
     
     
         29 . The method of  claim 28 , further comprising: 
 receiving a request indicating a requested amount; and    transmitting a message indicating whether the requested amount is greater than the amount of funds.    
     
     
         30 . The method of  claim 28 , in which the code is further encrypted with an account identifier indicating a financial account and a check identifier indicating the predetermined check which is drawn on the financial account;  
       and in which the step of decrypting comprises: 
 decrypting the code to determine the financial account and the check identifier.  
 
     
     
         31 . The method of  claim 28 , in which the code is further encrypted with an indication of at least one of 
 an expiration date,    a presentment period within which a check should be presented for payment,    a payee,    a bank, and    a time the code was generated.    
     
     
         32 . The method of  claim 28 , in which the step of decrypting comprises: 
 decrypting the code to determine at least one of 
 the expiration date,  
 the presentment period within which the check should be presented for payment,  
 the payee,  
 the bank, and  
 the time the code was generated.  
   
     
     
         33 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    making the amount of funds unavailable for use in the financial account if the authorization identifier is valid;    generating a code that indicates the check; and    transmitting the code if the authorization identifier is valid.    
     
     
         34 . The method of  claim 33 , further comprising: 
 determining whether the authorization identifier corresponds to at least one predetermined authorization identifier.    
     
     
         35 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier, a check identifier, a payee identifier and an amount of funds, the account identifier indicating a financial account, the check identifier indicating a check drawn on the financial account, the payee identifier indicating a payee;    reserving the amount of funds for the payee;    generating a code that indicates the check; and    transmitting the code.    
     
     
         36 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier indicating a financial account and a check identifier indicating a check drawn on the financial account;    determining whether the check data indicates an amount of funds unavailable for use in the financial account;    determining whether the check has expired; and    making the amount of funds available for use in the financial account if the check has expired.    
     
     
         37 . The method of  claim 36 , in which the step of determining whether the check has expired comprises: 
 determining an expiration date based on the check data;    determining a current date; and    determining whether the current date is after the expiration date.    
     
     
         38 . A method for processing checks, comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of a first amount of funds that is unavailable for use in the financial account, the first amount of funds reserved for payment with the check; and  
   receiving an indication of a second amount of funds;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    if the authorization identifier is valid, 
 making unavailable for use in the financial account an amount of funds that is based on the first amount of funds and the second amount of funds.  
   
     
     
         39 . A method for processing checks, comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of an amount of funds that is unavailable for use in the financial account, the amount of funds reserved for payment with the check; and  
   receiving a signal representing a request to make the amount of funds available for use in the financial account;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    if the authorization identifier is valid, 
 making the amount of funds available for use in the financial account.  
   
     
     
         40 . The method of  claim 39 , in which the step of making the amount of funds available comprises: 
 determining a current date;    determining an authorization date based on the code;    determining whether the current date is after the authorization date; and    making the amount of funds available for use in the financial account if the current date is after the authorization date.    
     
     
         41 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check;    transmitting the code;    receiving the code;    determining the check data based on the code; and    transmitting a message that indicates the amount of funds.    
     
     
         42 . A method for processing checks, comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check;    transmitting the code;    receiving a signal indicating clearance of a check, the signal further representing the check identifier, the account identifier and a first amount of funds;    determining, based on the account identifier and the check identifier, a second amount of funds that is unavailable for use in the financial account;    determining whether the first amount of funds is not greater than the second amount of funds; and    making the second amount of funds available for use in the financial account if the first amount of funds is not greater than the second amount of funds.    
     
     
         43 . A method for processing checks, comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account;  
   determining whether the check has been claimed; and    transmitting a message indicating whether the check has been claimed.    
     
     
         44 . The method of  claim 43 , further comprising: 
 if the check has not been claimed, storing an indication that the check has been claimed.    
     
     
         45 . An apparatus for processing checks, comprising: 
 a voice response unit operative to receive signals from a telephone, the signals representing check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    means for making the amount of funds unavailable for use in the financial account; and    means for generating a code that indicates the check;    and in which the voice response unit is further operative to transmit the signals representing the code to the telephone.    
     
     
         46 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;  
 make the amount of funds unavailable for use in the financial account;  
 generate a code that indicates the check; and  
 transmit the code.  
   
     
     
         47 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check; and    transmitting the code.    
     
     
         48 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a code;  
 determine check data based on the code, the check data including an amount of funds that is unavailable for use in a financial account, the amount of funds reserved for payment with a check; and  
 transmit a message that indicates the amount of funds.  
   
     
     
         49 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 an amount of funds that is unavailable for use in a financial account, the amount of funds reserved for payment with a check; and  
   transmitting a message that indicates the amount of funds.    
     
     
         50 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a signal indicating a request to pay on a check, the signal further representing a check identifier, an account identifier and a first amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account; and  
 make the first amount of funds available for use in the financial account.  
   
     
     
         51 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a signal indicating a request to pay on a check, the signal further representing a check identifier, an account identifier and a first amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account; and    making the first amount of funds available for use in the financial account.    
     
     
         52 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a code that is encrypted with an amount of funds, the amount of funds reserved for payment with a predetermined check; and  
 decrypt the code to determine the amount of funds.  
   
     
     
         53 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a code that is encrypted with an amount of funds, the amount of funds reserved for payment with a predetermined check; and    decrypting the code to determine the amount of funds.    
     
     
         54 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;  
 receive an authorization identifier;  
 determine whether the authorization identifier is valid;  
 make the amount of funds unavailable for use in the financial account if the authorization identifier is valid;  
 generate a code that indicates the check; and  
 transmit the code if the authorization identifier is valid.  
   
     
     
         55 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    making the amount of funds unavailable for use in the financial account if the authorization identifier is valid;    generating a code that indicates the check; and    transmitting the code if the authorization identifier is valid.    
     
     
         56 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier, a check identifier, a payee identifier and an amount of funds, the account identifier indicating a financial account, the check identifier indicating a check drawn on the financial account, the payee identifier indicating a payee;  
 reserve the amount of funds for the payee;  
 generate a code that indicates the check; and  
 transmit the code.  
   
     
     
         57 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier, a check identifier, a payee identifier and an amount of funds, the account identifier indicating a financial account, the check identifier indicating a check drawn on the financial account, the payee identifier indicating a payee;    reserving the amount of funds for the payee;    generating a code that indicates the check; and    transmitting the code.    
     
     
         58 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier indicating a financial account and a check identifier indicating a check drawn on the financial account;  
 determine whether the check data indicates an amount of funds unavailable for use in the financial account;  
 determine whether the check has expired; and  
 make the amount of funds available for use in the financial account if the check has expired.  
   
     
     
         59 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier indicating a financial account and a check identifier indicating a check drawn on the financial account;    determining whether the check data indicates an amount of funds unavailable for use in the financial account;    determining whether the check has expired; and    making the amount of funds available for use in the financial account if the check has expired.    
     
     
         60 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a code;  
 determine check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of a first amount of funds that is unavailable for use in the financial account, the first amount of finds reserved for payment with the check;  
 
 receive an indication of a second amount of funds;  
 receive an authorization identifier;  
 determine whether the authorization identifier is valid; and  
   if the authorization identifier is valid, 
 make unavailable for use in the financial account an amount of funds that is based on the first amount of funds and the second amount of funds.  
   
     
     
         61 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of a first amount of funds that is unavailable for use in the financial account, the first amount of funds reserved for payment with the check; and  
   receiving an indication of a second amount of funds;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    if the authorization identifier is valid, 
 making unavailable for use in the financial account an amount of funds that is based on the first amount of funds and the second amount of funds.  
   
     
     
         62 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a code;  
 determine check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of an amount of funds that is unavailable for use in the financial account, the amount of funds reserved for payment with the check; and  
 
 receive a signal representing a request to make the amount of funds available for use in the financial account;  
 receive an authorization identifier;  
 determine whether the authorization identifier is valid;  
   if the authorization identifier is valid, 
 make the amount of funds available for use in the financial account.  
   
     
     
         63 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account, and  
 an indication of an amount of funds that is unavailable for use in the financial account, the amount of funds reserved for payment with the check; and  
   receiving a signal representing a request to make the amount of funds available for use in the financial account;    receiving an authorization identifier;    determining whether the authorization identifier is valid;    if the authorization identifier is valid, 
 making the amount of funds available for use in the financial account.  
   
     
     
         64 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;  
 make the amount of funds unavailable for use in the financial account;  
 generate a code that indicates the check;  
 transmit the code;  
 receive the code;  
 determine the check data based on the code; and  
 transmit a message that indicates the amount of funds.  
   
     
     
         65 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check;    transmitting the code;    receiving the code;    determining the check data based on the code; and    transmitting a message that indicates the amount of funds.    
     
     
         66 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;  
 make the amount of funds unavailable for use in the financial account;  
 generate a code that indicates the check;  
 transmit the code;  
 receive a signal indicating clearance of a check, the signal further representing the check identifier, the account identifier and a first amount of funds;  
 determine, based on the account identifier and the check identifier, a second amount of funds that is unavailable for use in the financial account;  
 determine whether the first amount of funds is not greater than the second amount of funds; and  
 make the second amount of funds available for use in the financial account if the first amount of funds is not greater than the second amount of funds.  
   
     
     
         67 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving check data that includes an account identifier, a check identifier, and an amount of funds, the account identifier indicating a financial account and the check identifier indicating a check drawn on the financial account;    making the amount of funds unavailable for use in the financial account;    generating a code that indicates the check;    transmitting the code;    receiving a signal indicating clearance of a check, the signal further representing the check identifier, the account identifier and a first amount of funds;    determining, based on the account identifier and the check identifier, a second amount of funds that is unavailable for use in the financial account;    determining whether the first amount of funds is not greater than the second amount of funds; and    making the second amount of funds available for use in the financial account if the first amount of funds is not greater than the second amount of funds.    
     
     
         68 . An apparatus for processing checks, comprising: 
 a storage device; and    a processor connected to the storage device,    the storage device storing a program for controlling the processor; and    the processor operative with the program to: 
 receive a code;  
 determine check data based on the code, the check data including a check identifier that indicates a check drawn on a financial account;  
 determine whether the check has been claimed; and  
 transmit a message indicating whether the check has been claimed.  
   
     
     
         69 . A computer readable medium encoded with processing instructions for implementing a method for processing checks, the method comprising: 
 receiving a code;    determining check data based on the code, the check data including 
 a check identifier that indicates a check drawn on a financial account;  
   determining whether the check has been claimed; and    transmitting a message indicating whether the check has been claimed.