Importance

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Abstract

In accordance with the principles of the present invention, a system is provided for capturing a customer deposit at their place of business, converting the Magnetic Ink Character Recognition (MICR) data encoded documents into an image with an associated data file, and electronically transmit the data to a financial institution. The system allows the customer to scan each MICR encoded check that is to be deposited with their financial institution, which captures financial institution routing information and customer account information. The associated image the physical check can be franked denoting the check has been electronically processed to avoid further processing. The resulting image and account data can then be edited and processed by the financial institution. There are three options for encoding the amount: 1) the customer enters each amount after scanning the item prior to sending to the financial institution; 2) the financial institution enters the amount of each item after receiving the file from the customer; and 3) the amount field(s) is scanned and the amount is automatically entered. The system allows for both 1) online (Internet) capture of the MICR data and the associated image or 2) offline capture and the subsequent importing of the image and MICR data for transmission to the financial institution via the Internet. The financial institution can review the items captured online, and repair any item that is incorrect. The financial institution can use the system to print substitute checks that confirm to ANSI X9.90 for processing or deliver an electronic file in ANSI X9.37 format to any check processing system. The system includes secure transport over Internet connections for file transfer and dual control security to reduce fraudulent transactions from being initiated by the customer.

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First Claim