초록 ▼

A system and process are described for effecting the expedited submission into the payment system for collection of funds represented by financial instruments that are received by a payee at an item capture facility remote from the payee's depository bank in which the submission of the instruments i

A system and process are described for effecting the expedited submission into the payment system for collection of funds represented by financial instruments that are received by a payee at an item capture facility remote from the payee's depository bank in which the submission of the instruments into the payment system is coordinated with the payee's internal accounting process and the register of the deposit of the instruments with an account at the instruments payee's bank.

대표청구항 ▼

[ What is claimed is:] [16.] A process for coordinating the receipt of financial instruments at a payee's item capture facility with payee's processing of the instruments and the collection of finds represented by the instruments through a payment system with the recordation of the deposit of such i

[ What is claimed is:] [16.] A process for coordinating the receipt of financial instruments at a payee's item capture facility with payee's processing of the instruments and the collection of finds represented by the instruments through a payment system with the recordation of the deposit of such instruments in an account maintained by the instruments payee at the payee's bank of first deposit comprising;a) associating the instrument received with a record of account of the drawer of the instrument with the payee;b) extracting payment system information from the instrument and converting said information into a transmittable record thereof;c) sorting the instruments at said facility according to predetermined sort pattern categories determined by the bank in accordance with destination points associated with the payment system and transmitting the payment system information about said records to the bank;d) indorsing at said facility each of said instruments with separate indorsement on behalf of each of said payee and said bank;e) sorting the instruments bearing said endorsements with respect to said predetermined sort pattern categories and assembling the sorted instruments into one or more bundles associated with each category;f) preparing at said facility at least one cash letter associated with the one or more bundles of sorted instruments and delivering the one or more cash letters and associated one or more bundles into the payment system;g) confirming the delivery of the at-least-one-cash letter and bundle into the payment system to the bank and reconciling said delivery into the information about said records transmitted to the bank; and,h) monitoring the clearing of said instruments in the payment system such that funds collected represented by the check are credited as received to the payee's account at the bank upon collection.