초록 ▼

An electronic system and method for providing advance notification of a potential return that may occur when a presenting financial institution ("FI") eventually presents an item for payment to a paying FI in a subsequent paper-based presentment process. The system includes: (1) data capture circuit

An electronic system and method for providing advance notification of a potential return that may occur when a presenting financial institution ("FI") eventually presents an item for payment to a paying FI in a subsequent paper-based presentment process. The system includes: (1) data capture circuitry for capturing item data from the item, the data including an FI account number field corresponding to an FI account upon which the item is to be drawn, (2) a database containing eligibility criteria and FI restricted account data corresponding to restricted FI accounts of the paying FI and (3) comparison circuitry for comparing the FI account number field with the eligibility criteria to determine whether the item data are eligible for matching with the FI restricted account data and, if the item data are so eligible, matching the FI account number field with the FI restricted account data to allow the electronic system to provide advance notification to the sending FI of the potential return by the paying FI to allow the sending FI to take appropriate protective action with respect to the item in anticipation of the return.

대표청구항 ▼

[ What is claimed is:] [1.] An electronic system for providing advance notification of a potential return that may occur when a presenting financial institution (FI) eventually presents an item for payment to a paying FI in a subsequent paper-based presentment process, comprising:data capture circui

[ What is claimed is:] [1.] An electronic system for providing advance notification of a potential return that may occur when a presenting financial institution (FI) eventually presents an item for payment to a paying FI in a subsequent paper-based presentment process, comprising:data capture circuitry for capturing item data from said item, said data including an FI account number field corresponding to an FI account upon which said item is to be drawn;a database containing eligibility criteria and FI restricted account data corresponding to restricted FI accounts of said paying FI, said restricted account data including restriction reason codes selected from the group consisting of:closed for cause,closed,dormant,deceased,post no debits,post no transactions,officer restriction,lien,new account,stop payment on file,stop payment check number range, andsuspicious activity; andcomparison circuitry for comparing said FI account number field with said eligibility criteria to determine whether said item data are eligible for matching with said FI restricted account data and, if said item data are so eligible, matching said FI account number field with said FI restricted account data to allow said electronic system to provide advance notification to said presenting FI of said potential return by said paying FI, said advance notification including said restriction reason codes that allow said presenting FI to take appropriate protective action with respect to said item in anticipation of said return.