Patent ID: 7980463

Claim:
An internet based system for verifying the authenticity and status of a cashier's check issued by a banking institution and preventing identical copies of the cashier's check from being cashed comprising: a) the internet based web site comprising: i. a means for generating a check identifier code for the cashier's check; ii. a means for generating a machine-only readable code comprising a first set of data regarding a payor, a payee, an amount of the cashier's check and the check identifier code wherein the machine-only readable code is different from any machine-only readable code placed on the check by the banking institution; iii. a means for delivering the machine-only readable code to the banking institution for placement on the cashier's check; iv. a means for storing the first set of data and the status of the check wherein the check initially has an active status; v. a means for receiving machine-only readable code on a selected cashier's check containing a second set of data and comparing the second set to the stored first set and determine if the second set is identical or not to the first set; vi. a means for reporting the result of the comparison and the current check status when the second set is identical to the first set; and vii. a means for changing the active status to inactive when the comparison determines the second set is identical to the first set and the check is to be cashed; b) a means for the issuing banking institution to place the machine-only readable code first data received from the web site on the cashier's check; and c) a means to send machine-only readable code containing a second set of data on a cashier's check to the internet based web site for comparison to the first set of data.