Patent ID: 8052040
Filing Date: 2011-11-08
Classification: B42D,G06Q,G07F

Abstract:
1. A method of using a fraud and identity theft resistant checking account to avoid acceptance by a merchant of a fraudulent check and to preserve an identity of an account holder, the method comprising: receiving a negotiable instrument from a check writer, the negotiable instrument having a pre-printed bar code and an identification theft protection hotline; concealing from view by using the pre-printed bar code to encode personal identification information comprising a digital photo identification, a signature, an address, a phone number and a name of the account holder; concealing from view by using the pre-printed bar code to encode bank identification information comprising a bank routing number, a bank account number and a check number; scanning the pre-printed bar code; receiving a code with the check, the code being associated with the checking account for deriving personal and bank identification information from the pre-printed bar code; comparing the personal identification information of the account holder derived from the pre-printed bar code with the address, the phone number and the name of the check writer; comparing the photo identification of the account holder derived from the pre-printed bar code with the check writer; comparing the signature of the account holder derived from the pre-printed bar code with a signature placed by the check writer upon the check at the point and time of the transaction; determining by the merchant whether to accept or refuse the check at the point and time of the transaction by verifying a match between the identity of the account holder and the check writer based on the steps of comparing the personal identification information derived from the pre-printed bar code with information provided by the check writer, comparing the photo identification of the account holder derived from the pre-printed bar code with the check writer, and comparing the signature of the account holder derived from the pre-printed bar code with the signature of the check writer placed upon the check at the point and time of the transaction; processing by the merchant of the check for payment by using the bank routing number, the bank account number and the check number derived from the pre-printed bar code; and contacting by the merchant the identification theft hotline at the point and time of the transaction to alert a bank associated with the checking account of a fraudulent use of the check, the personal or banking information associated with the account.