Patent ID: 6036344
Filing Date: 2000-03-14
Classification: G06Q

Abstract:
A method of verifying a check presented to one of a plurality of banks, the method comprising the steps of:a) recording, on the check, information regarding an account to which the check is to be drawn against, a bank having the account which is to be drawn against, and a central processing center;b) retrieving, by the central processing center, current account information with respect to all accounts of the plurality of banks;c) sending to the central processing center, through a communication channel connecting the one bank and the central processing center, the information regarding the check presented at the one bank; andd) determining, at the central processing center, whether or not the check is capable of being drawn against the account to which the check is to be drawn against;e) if the check is capable of being drawn against the account, provisionally debiting the account and notifying the one bank that the check can be drawn against the account; andf) if the check is not capable of being drawn against the account, notifying the one bank that the check cannot be drawn against the account.