System and method of cashing a check

A system and method of cashing a check which reduces wait times and automates a very manual process. An example method includes capturing an image of the check, sending a request including an image file containing the image of the check to a check approval system, receiving an approval to cash the check from the check approval system, and submitting the image file and the approval during a check cashing transaction at a self-service terminal.

BACKGROUND

The present invention relates to check cashing and more specifically to a system and method of cashing a check.

Unbanked and underbanked consumers typically conduct check cashing transactions by visiting a third party check cashing entity.

It would be desirable to provide a system and method of cashing a check which gives unbanked and underbanked consumers the option of pre-staging a check cashing transaction using a mobile communication device, personal computer, or other computing device (e.g., scanner) to gain approval and complete the transaction by obtaining funds from a self-service terminal, such as an automated teller machine (ATM), Financial Kiosk or similar self service devices.

SUMMARY

In accordance with the teachings of the present invention, a system and method of cashing a check is provided.

An example method includes capturing an image of the check, sending a request including an image file containing the image of the check to a check approval system, receiving an approval to cash the check from the check approval system, and submitting the image file and the approval during a check cashing transaction at a self-service terminal.

DETAILED DESCRIPTION

Turning now toFIG. 1, system10primarily includes computers12and self-service terminal (SST)18. In an example embodiment, a person with a check16to be cashed uses computer12to pre-stage a check cashing transaction. The person further uses SST18to complete the check cashing transaction. SST18may be affiliated with a bank with which the person has a bank account or completely untied to any bank account, but approved through a third party risk provider.

Computer12may include, but not be limited to a smart phone or other portable or computer peripheral.

Computer12may include one or more computers. For example, computer12may include a personal computer used to obtain approval to cash check16and a portable computing device used to communicate with SST18during completion of the check cashing transaction. SST18may include, but not be limited to, a kiosk, automated teller machine (ATM) or other SST.

In an alternative embodiment, computer12and SST18may be the same computer, the person performing the check cashing transaction at a single kiosk, ATM or other SST.

Computer12and SST18include a processor, memory, and program and data storage. Computer12and SST18may execute an operating system such as a Microsoft operating system. Computer12and SST18execute other computer software that may be stored in a computer readable medium, such as a memory.

Computer12and SST18further include wired or wireless communication circuitry20and22for directly connecting computer12and SST18. Wireless communication circuitry20and22may include standard near field communication (NFC) circuitry.

Computer12and SST18further include graphics circuitry for connecting to a display, network circuitry for connecting to network30, and other circuitry for connecting to other peripherals, such as a printer, an input device (e.g., a mouse, a keyboard, a touch overlay to the display). Computer12may use such circuitry to connect image capture device14. SST18may include and use such circuitry to connect any one or more of a card reader, a biometric reader, such as a fingerprint reader, a barcode reader, or other peripheral necessary for the purpose of SST18.

Network30may include any combination of wireless or wired networks, including a global communication network, also known as the Internet.

In one example embodiment, computer12connects to check approval system40to receive approval to cash check16. Computer12captures an image of check16using image capture device14and sends a check image file48to check approval system40.

Computer12executes web browser software to allow computer12to display information in a format established by the World Wide Web (WWW or “web”). Web browser software may include commercially available web browser software, such as Microsoft® Internet Explorer web browser software. Computer12connects to a web server of check approval system40through website46.

Computer12downloads web pages from website46that allow the person with check16to establish an account42, to login to account42, to upload check image file48, to request approval for check16, and to obtain approval for check16. The web pages may also facilitate control of image capture device14in order to capture an image of check16.

Computer12may alternatively or in addition download application software to facilitate approval. For example, check approval system40may provide check approval request software44for download through website46.

In one example embodiment, check approval request software44may be written in a programming language such as the Java programming and be hosted within the browser software.

As another example, check approval request software44may include a script, such as JavaScript, combined with hypertext markup language (HTML) or other suitable web page language.

If computer12is a mobile computing device, such as a smart phone, check approval request software44may include a software applet written to be executed within the operating system of the smart phone.

Check approval request software44may operate image capture device14to facilitate a request for check approval. For example, check approval request software44may communicate directly with a software driver of image capture device14.

As another example, check approval request software44may communicate indirectly with a software driver of image capture device14through a protocol or application programming interface (API), such as a TWAIN standard API.

Alternatively, check approval request software44may prompt the person for a file48containing an image of check16previously captured by the customer using a different software application.

In another example embodiment, SST18connects to check approval system40to receive approval to cash check16. SST18captures an image of check16using image capture device14and sends a check image file48to check approval system40.

Image capture device14captures an image of check16and stores the image as image file48. Image capture device14is coupled to computer12and may include a document scanner or camera.

For example, image capture device14may include a built-in camera within a mobile communication device, such as a smart phone.

As another example, image capture device14may include a document scanner attached to a personal computer via a universal serial bus (USB) or other connection.

As another example, image capture device14may include a check reader module of a kiosk, ATM or other SST.

Image file formats may include “TIF”, “GIF”, “JPG”, “BMP”, “PNG”, or any other format as required by check approval system40, such as the X9.37 standard format. Check approval system40may also require that image file48have a predetermined color depth and/or resolution. The payer must acquire and operate an image capture device14in satisfaction of these requirements.

Check16may include any document which serves as a written, legally negotiable order directing a bank where the payer has an account to pay money. For example, check16may include a personal check, a money market check, or other type of check. Check16is filled out and signed by the payer.

Check approval system40receives check approval requests from computer12, and either approves or disapproves the requests. If check approval system40approves a request, check approval system40may issue one or more indicia of approval, such as an approval number to computer12. The indicia may be part of a modified image of check16. Computer12may display the approval number and the indicia and save or store them locally.

Check approval system40may be operated by a bank where the person wishing to cash check16has an account or a third party check verification service.

The person wishing to cash check16uses computer12to transfer the indicia of approval and image file48to SST18. Wireless communication circuitry20in computer12establishes a connection with wireless communication circuitry22in SST18. Computer12then uploads the indicia of approval and image file48to SST18.

SST18executes transaction software24, which facilitates a plurality of transactions including a check cashing transaction. Transaction software24displays one or more screens including a selection to begin the check cashing transaction.

In an example embodiment in which computer12includes a smartphone or other portable computing device, the person pre-stages the transaction before using SST18. Transaction software24prompts the person to upload the indicia of approval and image file48from computer12. Transaction software24receives the indicia of approval and image file48.

In another example embodiment in which the person performs the entire check cashing transaction at SST18, transaction software24prompts the person to provide check16. Transaction software24controls image capture device14to capture an image of check16. Transaction software24sends image file48to check approval system40and receives the indicia of approval. SST18may connect to check approval system40through banking system

Further processing may include performing a verification process and truncating check16in a known way. For example, transaction software24may perform an optical character recognition (OCR) process on the image and/or a magnetic ink character recognition (MICR) process to identify and verify important information. Following processing of check16, transaction software24may dispense currency or currency equivalent, such as a stored value card, or top off a stored value card or applied to other options like mobile wallets. Alternatively, transaction software24may credit a bank account of the person.

Turning now toFIG. 2, an example check cashing method is illustrated in detail beginning with step60.

Steps60-66relate to pre-staging steps using computer12. Pre-staging the check cashing transaction reduces wait time and confusion.

In step60, computer12captures an image of check16. For example, if computer12is a smartphone with a camera, the smartphone uses the camera to capture an image of check16.

In step62, computer12connects to check approval system40. The person may login with pre-established credentials.

In step66, computer12receives an approval, with indicia of approval, or a disapproval from check approval system40. The approval or disapproval may come in the form of a text message or e-mail message, for example.

Steps68-76relate to check cashing transaction steps at SST18.

In step68, transaction software24receives a selection entered by the person for a check cashing transaction.

In step70, transaction software24prompts the person to upload the indicia of approval and image file48from computer12.

In step72, transaction software24receives the indicia of approval and image file48. SST18may establish an NFC connection with computer12to receive image file48.

In step74, transaction software24performs a verification process on the check information in the image in image file48.

In step76, transaction software24provides payment to the person if check16passes the verification process. Transaction software24may dispense currency or currency equivalent, such as a stored value card, or top off a stored value card or applied to other options like mobile wallets. Alternatively, transaction software24may credit a bank account of the person.

Turning now toFIG. 3, another example check cashing method is illustrated in detail beginning with step80. In this example, the person performs the entire check cashing transaction at SST18.

In step80, transaction software24receives a selection entered by the person at SST18for a check cashing transaction.

In step82, transaction software24prompts the person to insert check16into a check reader module in SST18.

In step84, transaction software24operates image capture device14, which may include a check reader module, to capture an image of check16and store the image as image file48.

In step86, transaction software24connects to check approval system40via network30. Transaction software24may pass the person's credentials and image file48with a request for approval to check approval system40, or display a screen from check approval system40to allow the person to login, send image file48, and make the request.

In step88, transaction software24receives an approval, with indicia of approval, or a disapproval from check approval system40. Transaction software24may further receive an indication that the request is pending approval or disapproval and may return check16and prompt the person to return to SST18after a predetermined time period. After the predetermined time period, the person may receive the approval or disapproval in the form of a text message or e-mail message, for example, on a personal computer or mobile communication device.

If transaction software24approves check16, transaction software24retains check16. Other, transaction software24returns check16if check16is disapproved or if approval is pending for the predetermined time period.

In step90, transaction software24performs a verification process on the check information in the image in image file48. Transaction software24may display verification a result.

In step92, transaction software24provides payment to the person if check16passes the verification process. Transaction software24may dispense currency or currency equivalent, such as a stored value card, or top off a stored value card or applied to other options like mobile wallets. Alternatively, transaction software24may credit a bank account of the person.

Although the present invention has been described with particular reference to certain preferred embodiments thereof, variations and modifications of the present invention can be effected within the spirit and scope of the following claims.