System for expediting the clearing of financial instruments and coordinating the same with invoice processing at the point of receipt
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United States of America Patent
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-
Jul 27, 1999
Issued Date -
N/A
app pub date -
Jul 11, 1996
filing date -
Nov 22, 1993
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system and process are described for effecting the expedited submission into the payment system for collection of funds represented by financial instruments that are received by a payee at an item capture facility remote from the payee's depository bank in which the submission of the instruments into the payment system is coordinated with the payee's internal accounting process and the register of the deposit of the instruments with an account at the instruments payee's bank.
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