Patent ID: 8799147

Claim:
An electronic system for depositing negotiable instruments with non-payee financial institutions, comprising: a memory; and a processor disposed in communication with the memory, and configured to execute a plurality of processing instructions stored in the memory to: receive at least one set of data associated with at least one negotiable instrument from a customer; wherein the at least one set of data includes image data of the at least one negotiable instrument, alpha-numeric data associated with the at least one negotiable instrument, and metadata associated with the at least one negotiable instrument; and provide at least one subset of the at least one set of data directly to one of a payor financial institution or an intermediate financial institution associated with the at least one negotiable instrument, without previously providing the at least one subset of the at least one set of data to a payee financial institution; wherein at least one of the payor financial institution or the intermediate financial institution adjusts funds in an account according to the at least one set of data associated with the at least one negotiable instrument.