System and method for financial institution account deposits via retail merchants

Number of patents in Portfolio can not be more than 2000

United States of America Patent

APP PUB NO 20050289030A1
SERIAL NO

10875252

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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Deposits to a customer account at a financial institution are received by a retail merchant, and deposited to the customer account. The funds may comprise cash or a negotiable instrument such as a paycheck. The funds deposited by the retail merchant may comprise all or a portion of the funds received by the customer. The deposit is preferably performed by a credit operation to a customer's debit card issued for the account, through a transaction processing system, where the credit is not a credit for previously debited funds. The financial institution may pay fees to the retail merchant, and/or may indemnify the retail merchant for losses due to failure of negotiable instruments received for deposit.

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Patent Owner(s)

Patent OwnerAddress
NORTH CAROLINA LOCAL GOVERNMENT EMPLOYEES FEDERAL CREDIT UNION801HILLSBOROUGH STREET SUITE 401 RALEIGH NC 27603

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Smith, Maurice R Cary, NC 9 322

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