Patent Issued for Wireless electronic check deposit scanning and cashing machine with web-based online account cash management computer application system (USPTO 11200550): United Services Automobile Association

2021 DEC 30 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- United Services Automobile Association (San Antonio, Texas, United States) has been issued patent number 11200550, according to news reporting originating out of Alexandria, Virginia, by NewsRx editors.

The patent’s inventors are Singfield, Joy Shantia (Uniondale, NY, US).

This patent was filed on November 13, 2019 and was published online on December 14, 2021.

From the background information supplied by the inventors, news correspondents obtained the following quote:

“1. Field of the Invention

“The present invention generally relates to a method and apparatus for Wirelessly depositing paper checks that are deposited from home computer, desktop office computer, mobile device that is Internet capable, laptop computer, Internet capable pda (personal digital assistant), and/or any other working device that allows one access to the Internet through wireless solutions-which is wirelessly scanned and delivered through the Wireless Check (deposit) Scanning Machine-where the endorsed check image is captured, and wirelessly transmitted to a wireless computer network, that is linked and delivered to the online account management system (OMS), which acts as a virtual teller by receiving and confirming the check image data on the user’s/depositor’s account (ie. routing number, checking account number on the endorsed check image, dollar amount of the check, date of the check, check owner’s name, and bank name, etc.)-where user logs on to enter the dollar amounts and figures into their online account management system Account, to initiate and begin process of check deposit request; verifying check data through user/depositor online data verification; submitting request to move funds (for written amount of the endorsed check image) from check owner’s bank checking account into user’s/depositor’s bank account-serving as an electronic funds transfer. This web-based cash management application solution program controls the processing of the check using a secure format (OMS), while the Wireless check scanning Device wirelessly securely transmits the data to the wireless computer network that links to the user’s online account (operated and controlled by the OMS). This enablement opens the door for Global Banking, with a limitless variation of transaction (ie. business, personal, international) capacities. The check (once wirelessly delivered to the system) controlled for deposit in the online account management system converts the check image into an electronic banking transaction (appearing as an electronic banking funds transaction-for expedited processing and wiring of check deposit funds made available in user/depositor checking account); in addition allowing the user/depositor the capability of Cashing and Printing orders through the OMS process-once image has been received and delivered to the OMS through WEDS, the user is then able to verify document type (ie. Personal check, Business check, Money Order) for request to deposit, or cash the check/money order. The deposit takes process through user logon and verification of check depositor and check owner’s banking data and authorization, along with the system authenticity of document and user check. The check cashing option occurs when user has web cam hooked up, and destination of the user’s ISP (Internet service provider address and local computer network to detect where communication from user’s computer is coming from) so user can be located, and his/her destination at time of transaction request can be located. User’s picture is taken through a live image captured during the user’s request; which shows the user’s action throughout the time of the transaction. Upon approval and verification of the check data and user data within the OMS system, the OMS live teller allows the funds to be electronically transferred into user’s account (EFT) at the point of transaction, which makes cash available to user immediately. The image of the check/money order is recorded, and voided out, and notification is sent to the user’s and check owner’s bank/financial institution, and/or place where OMS purchased money order on behalf of user-and documented into a web-based OMS national system, so all check cashing stores, banks, and post offices can be aware of all checks and money orders cashed through WEDS.OMS system.

“2. Background Description

“With the booming Internet Information Age, the number or online users are increasing both in the United States and overseas. There are more than 32 million online banking customers in the U.S. and over 100 million in Europe. As an effect of the high volume of users, people are looking toward the Internet as an avenue to increase both personal and professional productivity, more particularly in the field of banking.

“Banks in the U.S. spend $8 billion in processing checks, and the Federal Reserve processes 42 billion checks per year. As the use and need of checks continue to grow and remain vital for business transactions and services, depositing alternatives are greatly needed, so is the desire for speedy availability of those funds in a convenient environment. The cost and time associated with processing and depositing paper checks manually decreases productivity and financial expenditures and labor spending levels. Small, medium, and large Businesses would increase office productivity as well as save money in labor, and clear checks quicker by excluding the use of manual check processors (to deposit and scan checks for payment and/or deposit) and save time and money manually or processing a check deposit for individual customers and/or businesses banking at the branch(es) and at check processing centers, check cashing centers, and brokerage firms. Individual consumers will save money in check processing fees and be encouraged to start and/or grow a banking relationship should an alternative method of banking be made available to them at a lower cost, and without the inconvenience of waiting in line to deposit at the branch or ATM, then waiting again for the funds to clear the bank. Should a new capability be developed where a computer system can wirelessly scan and wirelessly deliver the check image to a wireless network (such as this invention), that is linked to an online access point where the user/depositor can set preferences for online check deposit request, and be serviced online (in a virtual teller environment-such as this invention), where the endorsed check image delivered is verified and deposited in a secure manner (processed as an EFT-electronic funds transfer, to expedite processing time frame for check deposit)-there will be less room for manual error, and longer than necessary waiting time frames for deposit of check, and release of funds, in addition to excluding the need for travel time for those wishing to deposit, or rely on obtaining funds immediately.

“Online banking is an increasing market, where users are now capable of going online to view their checking and savings account, transfer funds, and set up payment schedules online. However, their banking options are limited, which give users less power to get things done without the need of going to a branch or visiting an ATM machine, when they’d rather spend lunch eating, and spend their weekends at home with the family and loved ones.

“Allowing deposit and cashing of checks online through Wireless scanning (WEDS) and wireless navigation (OMS) enables the user to finally take control over their finances. With this invention, users are now able to perform the task of scanning a check for online deposit in a wireless environment. The user may now wirelessly scan the endorsed check image, which is wirelessly delivered (WEDS) to a wireless network, which is linked to a main access point for the user to navigate commands online (the Account Management System or OMS). There is no longer a need for a serial cable or any other wire cable connection in order for the endorsed check image to be transmitted and delivered. This greatens the user with the ability to bank with mobility; to bank while in transit. Users once unable to transmit endorsed check image without computer connectivity port accessibility, are now able to exercise the option of use through USB cable, firewire cable, and (most important and convenient) Through Wireless Transmission of data (endorsed check image) for delivery, receipt and processing; in addition to the OMS providing the capability of paper/substitute-check cashing and money order cashing through a secured connection and picture capture of live web cam image of the user once user is logged onto his/her account on the OMS.”

There is additional summary information. Please visit full patent to read further.

Supplementing the background information on this patent, NewsRx reporters also obtained the inventors’ summary information for this patent: “Wireless Electronic Check Deposit Scanning and Cashing Machine (also known and referred to as WEDS) with web-based computer application cash management software System (known and referred to as OMS; virtual teller), enables endorsed paper and/or substitute checks and money orders to be deposited as well as cashed and made available through an EFT (electronic funds transfer). Images are to be wirelessly scanned and delivered from the Wireless electronic check deposit scanning machine and/or through a unique fax number which is linked to the computer network-is wirelessly delivered to a wireless computer network (which serves as a access point for delivery to the OMS), where it is delivered to the OMS for receipt of image(s), delivery to user/depositor’s casher’s account for processing (user faxes paper check, money order, substitute check for OMS account image delivery for check cashing and/or deposit processing-may or may not require web cam “live request” for user to be able to process request to deposit and/or cash check-thru OMS wire funds/electronic funds transfer on user OMS account) and controlled through the OMS-online account management system, where the user is able to view, navigate, and process requests to deposit and cash checks (paper checks and/or substitute checks) and money orders online (through the web-based computer application software controlling system-OMS). It enables Endorsed check images to be wirelessly scanned and delivered to a computer network which is linked to the main access point (OMS), where funds (for the amount for the check/money order) are moved from the check owner’s bank checking account, and deposited (electronically) into the user/depositor’s account. Where the OMS (online account management system) acts as teller, by Either: 1a) obtaining verification from the Federal Reserve Bank to move funds from one location (check owner’s bank account) to another location (into user/depositor’s bank checking account) as an electronic funds transfer (EFT) transaction; 1b) verifying authenticity of money order with place of purchase and/or post office system and/of financial institution; 2) Moving funds from one location to the other (from check owner’s banking account, to user/depositor’s account, for the amount of the check) through bank authorization (or in the case of money order verifying authenticity and validity of money order in government money order documentation system during processing in order to make funds available to user cashing the money order). This transaction once complete will reflect as an electronic/wire transfer (EFT), where the funds are electronically deposited (through a wire) into the user/depositor’s checking account, to expedite the check processing (or check cashing/money order cashing) time frame (eliminating time once required to be spent at the banking branch and check cashing centers; decreasing check posting and check depositing time frame, and excluding the need of a connectivity serial port, and replacing it with a device that will enable wireless check scanning of the endorsed check image-in addition to eliminating check cashing fees). The machine’s computer network receives notification of wireless scan image, which is delivered to the web based program, that records on the system, and electronically notifies and verifies data with Either: 1) Federal Reserve Bank (-in order to act as a liaison to gain permission to move funds from one account to another, in an EFT transaction processing format/environment) or payor and payee’s banks through OMS (or in the case of money order, verifying with money order documentation system to verify that serial tracking number on money order is valid and matches the dollar amount and date on the money order, in addition to place and time of purchase) to confirm funds to make to transfer funds from one account to the other; or 2) verified with check owners (and user/depositor’s) bank. Once verified, the online account management system (that is linked to the computer network and recognizes, identifies, and delivers check image from computer network [once received wirelessly from the device]) confirms and records communication with the bank, and deposits funds into user’s/depositor’s account. The online account management system’s web-based (which is a cash management solution for the online banking customer-individual and/or business) application software acts as a virtual teller (with the option for online live teller assistance) which wirelessly receives the endorsed check image sent from the computer network (which in turn received it wirelessly from the wireless electronic check deposit scanning machine into the computer network) where it is linked and delivered to the OMS user account queue/inbox of new images in order to allow user to verify check data, before the OMS begins processing consisting of verification and transfer funds, along with notifications, and system/transaction monitoring, etc. The request for online check deposit cannot begin (nor can the image be viewed), until the user/depositor has logged onto the online account management system, and has initiated commands (i.e. for deposit, and/or delay of deposit-for post dated checks, notifications and alters, change of password, change of user/depositor banking information, setting user preferences, etc.). All parties are given the option to be notified of transactions, in addition to attempted transaction notification via email or through messages delivered to their desktop, laptop computer, mobile phone, and/or any device with Internet capabilities. In addition, parties are able to control the processing status and/or control upon delivery of their wireless check scan image to their web based (online) account (OMS account), for check image storing purposes, deposit purposes, delayed and/or specified deposit dates requests, setting user preferences and alterations, (optional) printing of image purpose, image forwarding (via email, or fax), etc. With this invention, user does not have to be “tied down” to desktop computer, and no longer has to be bound to a serial cable to have endorsed check images sent to their online account (OMS). User can work offline by transferring data images to software database installed on their computer (for advance hard copies-through login onto software installed on computer/mobile/pda device), and transfer online for processing (at user’s convenience-using a USB cable, or firewire cable for advanced transmittal operation). Most importantly, user can work online without the need of being at a desktop/laptop computer to transfer the endorsed check image, and submit requests and log on to process online check deposits. Through this invention, the user is able to wirelessly transfer and deposit endorsed check images through this device without the need of connecting to another unit; enabling the user to navigate through a mobile phone, personal digital assistant (pda), and/or any other Internet enabled device and/or wireless environment, using this method of wireless data transmission and navigation.

“Wireless check scan, transmission, delivery, and processing of document image for OMS processing may or may not confirm with the check owner’s bank and deposits funds into the user’s/depositor’s account. The online account management system acts as a virtual teller which wirelessly receives the check image, verifies check information with depositor, and initiates (optional) communication with the Federal Reserve Bank to gain authorization to move available funds from the check owner’s bank account into the user’s/depositor’s bank account-which will act as an electronic funds transfer (to expedite processing timing).”

The claims supplied by the inventors are:

“1. A system for executing an electronic transaction with a wireless network from a portable data capture device of a user, the system comprising: the portable data capture device of the user configured to: receive software, the received software comprising instructions for configuring the portable data capture device of the user to capture and transmit a financial instrument for processing via the wireless network; capture an electronic image of the financial instrument via the received software; electronically transmit the electronic image from the portable data capture device of the user for processing via the wireless network; electronically capture a live image of the user of the portable data capture device; and only process the electronic image for deposit into a user account for the user at a financial institution upon verification that the user has transmitted the live image of the user during the electronic transaction.

“2. The system of claim 1, wherein the financial instrument comprises a check.

“3. The system of claim 1, wherein the financial instrument comprises an endorsed check and the portable data capture device is configured to capture a front side and a back side of the endorsed check.

“4. The system of claim 1, wherein the portable data capture device is configured to electronically capture the live image of the user with a web camera.

“5. The system of claim 1, wherein the portable data capture device of the user is further configured by the received software to electronically void the electronic image to prevent subsequent deposit of the financial instrument.

“6. The system of claim 1, wherein the portable data capture device of the user is further configured to receive an electronic transaction notification message relating to the processing of the electronic image for deposit subsequent to electronically transmitting the electronic image.

“7. The system of claim 1, wherein the portable data capture device of the user is further configured to display the electronic image of the financial instrument via the portable data capture device after capturing the electronic image.

“8. The system of claim 7, further comprising transmitting a deposit authorization input from the portable data capture device after electronically transmitting the electronic image.

“9. The system of claim 1, wherein the portable data capture device comprises a wireless device and is configured to electronically transmit from the wireless device via a wireless network.

“10. The system of claim 9, wherein the wireless device comprises a mobile telephone.

“11. The system of claim 1, wherein the portable data capture device is configured to only process the electronic image for deposit into the user account for the user at the financial institution upon verification that the user has transmitted the live image of the user during an entirety of the electronic transaction.

“12. A method for executing an electronic transaction with a wireless network from a portable data capture device of a user, the method comprising: receiving software via the wireless network and configuring the portable data capture device with the received software to capture and transmit a financial instrument for processing via the wireless network; capturing an electronic image of the financial instrument with the portable data capture device of the user via the received software; electronically transmitting the electronic image from the portable data capture device of the user for processing via the wireless network; electronically voiding the electronic image to prevent subsequent deposit of the financial instrument; and only processing the electronic image for deposit into a user account for the user at a financial institution upon verification that a moving image of the user was transmitted from the portable data capture device during the electronic transaction.

“13. The method of claim 12, wherein the financial instrument is a check.

“14. The method of claim 12, wherein the financial instrument comprises an endorsed check and capturing the electronic image comprises capturing a front side and a back side of the endorsed check.

“15. The method of claim 12, wherein the moving image comprises a live image of the user taken with a web camera.

“16. The method of claim 12, further comprising subsequently transmitting an electronic transaction notification message to the portable data capture device relating to the processing of the electronic image for deposit.

“17. The method of claim 12, further comprising displaying the electronic image of the financial instrument via the portable data capture device after capturing the electronic image.

“18. The method of claim 12, further comprising transmitting a deposit authorization input from the portable data capture device after electronically transmitting the electronic image.

“19. The method of claim 12, wherein the portable data capture device comprises a wireless device and electronically transmitting comprises wirelessly transmitting from the wireless device via a wireless network.

“20. The method of claim 19, wherein the wireless device is a mobile telephone.”

For the URL and additional information on this patent, see: Singfield, Joy Shantia. Wireless electronic check deposit scanning and cashing machine with web-based online account cash management computer application system. U.S. Patent Number 11200550, filed November 13, 2019, and published online on December 14, 2021. Patent URL: http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=11200550.PN.&OS=PN/11200550RS=PN/11200550

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