Wireless electronic check deposit scanning and cashing machine with web-based online account cash management computer application system

Abstract

Wireless Electronic Check Deposit Scanning and Cashing Machine (also known and referred to as WEDS) Web-based Online account cash Management computer application System (also known and referred to as OMS virtual / live teller)—collectively invented integrated as “WEDS.OMS” System. Method and Apparatus for Depositing and Cashing Ordinary paper and / or substitute checks and money orders online Wirelessly from home / office computer, laptop, Internet enabled mobile phone, pda (personal digital assistant) and / or any Internet enabled device. WEDS enables verification and transmittal of image, OMS is the navigation tool used to set commands and process requests, integrated with WEDS, working collectively as WEDS.OMS System.

Description

CROSS REFERENCE TO RELATED APPLICATIONS [0001] This application claims the benefit of U.S. Provisional Application No. 60 / 532,416, filed Dec. 23, 2003. [0002] This application claims the benefit of U.S. Provisional Application No. 60-515,912, filed Oct. 30, 2003. BACKGROUND OF THE INVENTION [0003] 1. Field of the Invention [0004] The present invention generally relates to a method and apparatus for Wirelessly depositing paper checks that are deposited from home computer, desktop office computer, mobile device that is Internet capable, laptop computer, Internet capable pda (personal digital assistant), and / or any other working device that allows one access to the Internet through wireless solutions—which is wirelessly scanned and delivered through the Wireless Check (deposit) Scanning Machine—where the endorsed check image is captured, and wirelessly transmitted to a wireless computer network, that is linked and delivered to the online account management system (OMS), which acts as a...

AI Technical Summary

Benefits of technology

The patent describes a wireless electronic check deposit scanning and cashing machine that allows users to deposit and cash checks through a computer network. The machine scans and delivers images of the checks to the network, which verifies the checks and transfers the funds to the user's account. The machine can also be controlled through an online account management system. The technical effect of this invention is that users can wirelessly transfer check images to their online account, without being tied down to a desktop computer or needing a serial cable. This allows users to work offline and log on to process online check deposits.

Problems solved by technology

The cost and time associated with processing and depositing paper checks manually decreases productivity and financial expenditures and labor spending levels.

However, their banking options are limited, which give users less power to get things done without the need of going to a branch or visiting an ATM machine, when they'd rather spend lunch eating, and spend their weekends at home with the family and loved ones.

Although electronic financial transactions are commonly operated and maintained by giving the average banker power over their money, both businesses and individual banking customers / clients have limited power due to the limited online banking options available to the online banking user.

In a survey conducted by International Data Corporation (IDC), 42% of users found processing transactions in the online banking world not very useful, or user friendly.

Banks and financial institutions ultimately destroy banking / financial relationships because the customer is limited to the online banking transactions he or she can accomplish, due to a lack of diversified banking solutions and limited web-based solutions offered to the user in a “user friendly” atmosphere-one of the many harvests (or fruits) brought to the world are new, innovative technological advancements and evolutions are going from non-dial up options, to cable modem options, to broadband, to wireless fidelity (Wi-Fi) options to expand user Internet capabilities.

Multiple deposit (ie. fraudulent activity) of the same check (without prior written consent by check owner for payment schedule authorization) should be an extremely difficult task or execution.

In relation to the security industry, difficult task, meaning the cost and time consumption of surpassing or defeating the system would extend far past the benefit.

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