System and method for financial institution account deposits...

Details System and method for financial institution account deposits... System and method for financial institution account deposits...

G - Physics

07

F

G07F 19/00 (2006.01)

Patent

CA 2510812

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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