Patent ID: 8041099

Claim:
A method for verifying, reserving and debiting a check presented by a customer written on the customer's bank to a vendor, the check having a bank number, an account number and an amount payable, comprising: providing an input device at the vendor for collecting check information; collecting check information with the input device, the check information comprising a bank transit number, an account number of the customer's checking account and a payable amount of the check; establishing a communication link between the input device and the bank corresponding with the bank transit number; generating a data packet comprising the check information; transmitting the data packet from the vendor to the customer's bank with the communication link; receiving the data packet at the customer's bank; verifying, at the customer's bank, the check information in the data packet; securing reservation of funds in the amount of the check at the customer's bank if the account number corresponds to a legitimate account with the bank and if sufficient funds are in the legitimate account to cover the amount of the check; allowing the check to process in a normal checking processing time span; and causing change to the legitimate account, the change comprising debiting the legitimate account, clearing the check and cashing the check.