Importance

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Abstract

A Future Check Financing Method is disclosed. The method enables purchasers and others to present future-dated checks (or other payment vehicles) at the point of sale for purchases. The potential recipient of the future-dated payment vehicles and/or a check guarantee entity is able to make a lending decision based solely on the presenter's check writing history. The recipient of future-dated checks under the method will receive full payment (typically minus service charges) nearly immediately after completing the transaction with the presenter, rather than when all future-dated payment vehicles become payable. The check writing history may include negative check writing history for the presenter, but also may include positive check writing history for the presenter.

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First Claim