Value tracking and reporting of automated clearing house transactions
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United States of America Patent
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Sep 24, 2013
Grant Date -
Apr 21, 2005
app pub date -
Sep 29, 2004
filing date -
Sep 30, 2003
priority date (Note) -
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status (Latency Note)
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Abstract
Value tracking of automated clearing house (“ACH”) payments processed by an ACH operator includes receiving an ACH file for ACH processing. The ACH file comprises ACH payments originated by a remote sending point on behalf of a sending customer. A sum value of the ACH payments is added to a value of prior payments processed for the sending customer during a specified time period to obtain an accumulated payment value. The accumulated payment value is compared to a pre-established payment cap to determine whether the accumulated payment value exceeds the payment cap. The ACH payments are processed in response to a determination that the accumulated payment value does not exceed the payment cap. Whether to override the payment cap can be determined in response to a determination that the accumulated payment value exceeds the payment cap.
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