US5326959A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Automated customer initiated entry remittance processing system
Assignee: Individual
•
Filing: 1992-08-04
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Granted: 1994-07-05
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Expires: 2012-08-04
Abstract
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.
Inventors
- 👤 Justin J. Perazza
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-10-26 03:54
CPC Classifications
G; G06; G06Q; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/102; G06Q20/108; G06Q20/38; G06Q20/40; G06Q20/403; G06Q20/4037; G06Q40/00; G06Q40/02; G07; G07D; G07D7/00; G07D7/004; G07D7/0043; G07D7/06; G07D7/12; G07F; G07F19/00; G07F19/20; G07F19/201; G07F7/00; G07F7/08; G07F7/0806; G07F7/0833
Claims Analysis
Total Claims: 16
Claim 1
Independent Claim
151 words
An automated Bill payment process for Bill Payers, comprising the steps of: (a) Storing in computer memory of a financial institution Pre-Registration information for all Billers to be paid from the account of each Bill Payer; (b) Collecting completed Customer Payment Instructions from Bill Payers; (c) Scanning each CPI to identify, as to each Bill Payer, (i) the amount to be paid to each Biller, and (ii) if applicable, the Designated Date; (d) Electronically creating a bank debit for each Bill Payer's account, for the amounts designated on the CPI for the Bill Payer; and (e) Electronically creating a bank credit for each Biller for the amount designated on the CPI for that Biller; and (f) Electronically creating the record containing the Bill Payer's account number with the Biller, along with other appropriate billing data and the date of credit of the Biller's account, and transmitting the record to the Biller.
Claim 2
Dependent Claim
151 words
An automated Bill payment process for Bill Payers, comprising the steps of: (a) Storing in computer memory of a financial institution Pre-Registration information for all Billers to be paid from the account of each Bill Payer; (b) Collecting completed Customer Payment Instructions from Bill Payers; (c) Scanning each CPI to identify, as to each Bill Payer, (i) the amount to be paid to each Biller, and (ii) if applicable, the Designated Date; (d) Electronically creating a bank debit for each Bill Payer's account, for the amounts designated on the CPI for the Bill Payer; and (e) Electronically creating a bank credit for each Biller for the amount designated on the CPI for that Biller; and (f) Electronically creating the record containing the Bill Payer's account number with the Biller, along with other appropriate billing data and the date of credit of the Biller's account, and transmitting the record to the Biller.
Claim 3
Dependent Claim
22 words
A process as set forth in claim 1, in which steps (d), (e) and (f) are accomplished through an Automated Clearing House.
Claim 4
Dependent Claim
60 words
A process as set forth in claim 1, including, after step (a), the step of producing and delivering to the Bill Payer one or more Customer Payment Instructions, each listing sequentially the names or other identifying indicia for each Biller and having a location for manual indication of an amount to be paid to that Biller and the Designated Date.
Claim 5
Dependent Claim
24 words
A process as set forth in claim 1, wherein the amount is identified by bar codes and ten bar codes represent each digit option.
Claim 6
Dependent Claim
16 words
A process as set forth in claim 1, wherein the amount is identified by Arabic numerals.
Claim 7
Dependent Claim
24 words
A process as set forth in claim 1, wherein each Customer Payment Instruction includes the name or other identifying indicia for the Bill Payer.
Claim 8
Dependent Claim
40 words
A process as set forth in claim 1, including the step of imprinting an identifying code on the CPI and storing the identifying code in the computer memory of the Payer's Bank with the other information read from the CPI.
Claim 9
Dependent Claim
18 words
A process set forth in claim 1, including the step of manually feeding the CPIs to step (d).
Claim 10
Dependent Claim
30 words
A process as set forth in claim 1, in which the completed CPIs are collected at the Bill Payer's local financial institution and manually processed for introduction to step (c).
Claim 11
Dependent Claim
21 words
A process as set forth in claim 1, including the step of creating and storing an optical image of the CPI.
Claim 12
Independent Claim
68 words
A system for electronically processing payments from a Bill Payer to a Biller comprising: (a) Means for electronically reading digit-designating indicia on Customer Payment Instructions which identify the amount of a payment to be made by a Bill Payer to a Biller; and (b) Means for creating the Electronic Remittance Instructions and transferring payments and records of each payment in accordance with the CPIs to the appropriate Billers.
Claim 13
Independent Claim
68 words
A system for electronically processing payments from a Bill Payer to a Biller comprising: (a) Means for electronically reading digit-designating indicia on Customer Payment Instructions which identify the amount of a payment to be made by a Bill Payer to a Biller; and (b) Means for creating the Electronic Remittance Instructions and transferring payments and records of each payment in accordance with the CPIs to the appropriate Billers.
Claim 14
Dependent Claim
49 words
A system as set forth in claim 11, including the following: (a) Means for entering in the computer memory of a Payer's Bank Pre-Registration data identified for each Bill Payer and each corresponding Biller; and (b) Means for producing Customer Payment Instructions personalized for each Bill Payer by Biller.
Claim 15
Dependent Claim
17 words
A system as set forth in claim 11, including means to store an image of each CPI.
Claim 16
Dependent Claim
36 words
A system as set forth in claim 11, including means to imprint identifying indicia on each CPI and for storing that indicia in computer memory in the same file as the information read from the CPI.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1997-07-04 | 1998-01-03 | 1998-07-05 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2001-07-04 | 2002-01-03 | 2002-07-05 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2005-07-04 | 2006-01-03 | 2006-07-05 | $7700.00 | Window Closed / Lapsed |