Check printing instructions in ACH transactions
A computer-implemented method includes issuing a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check, receiving the transaction, and printing the check according to the instructions.
1. A computer-implemented method, comprising:
receiving, by a computer of a payor's bank or bill pay provider, instructions from a payor to make a payment for a particular amount to a payee;
generating, by the computer of the payor's bank or bill pay provider, data including (i) payment information from the payor to the payee and (ii) the instructions for printing a check payable to the payee; and
providing to a computer system of a receiver other than the payee, by the computer of the payor's bank or bill pay provider, the data in a transaction on the Automated Clearing House (ACH) electronic network to cause the receiver to print a check payable to the payee.
2. The method of claim 1 , wherein the instructions to make the payment are instructions to make a payment drawn on an account of the payor.
3. The method of claim 2 , wherein the instructions include data identifying at least a payee, an amount to pay the payee, a routing number and an account number.
4. The method of claim 3 , wherein the instructions include data identifying an address of the payee.
5. The method of claim 3 , wherein the data is encrypted.
6. The method of claim 1 , wherein the instructions include a cryptographically generated digital signature.
7. The method of claim 1 , wherein the transaction is a single transaction and includes instructions for printing a plurality of checks payable to a single payee, the plurality of checks drawn on a plurality of accounts of different payors.
8. The method of claim 1 , wherein the instructions for printing a check include instructions for printing a bank check or vendor check.
9. The method of claim 1 , wherein issuing a transaction includes issuing an instruction for a warehoused transaction.
10. The method of claim 1 , wherein the instructions for printing a check include instructions for printing a check at least four days after issuance of the transaction.
11. A computer program product, tangibly stored on a non-transitory machine readable medium, the product comprising instructions operable to cause a processor to:
issue a transaction on the Automated Clearing House (ACH) electronic network, the transaction including instructions for printing a check;
receive, by a computer of a payor's bank or bill pay provider, instructions from a payor to make a payment for a particular amount to a payee;
generate, by the computer of the payor's bank or bill pay provider, data including (i) payment information from the payor to the payee and (ii) the instructions for printing a check payable to the payee; and
provide to a computer system of a receiver other than the payee, by the computer of the payor's bank or bill pay provider, the data in a transaction on the ACH electronic network to cause the receiver to print a check payable to the payee.
12. The computer program product of claim 11 , wherein the instructions to make the payment are instructions to make a payment drawn on an account of the payor.
13. The computer program product of claim 12 , wherein the instructions to make the payment include data identifying at least a payee, an amount to pay the payee, a routing number and an account number.
14. The computer program product of claim 13 , wherein the instructions to make the payment include data identifying an address of the payee.
15. The computer program product of claim 13 , wherein the data is encrypted.
16. The computer program product of claim 11 , wherein the instructions to make the payment include a cryptographically generated digital signature.
17. The computer program product of claim 11 , wherein the transaction is a single transaction and includes instructions for printing a plurality of checks payable to a single payee, the plurality of checks drawn on a plurality of accounts of different payors.
18. The computer program product of claim 11 , wherein the instructions for printing a check include instructions for printing a bank check or vendor check.
19. The computer program product of claim 11 , wherein issuing a transaction includes issuing an instruction for a warehoused transaction.
20. The computer program product of claim 11 , wherein the instructions for printing a check include instructions for printing a check at least four days after issuance of the transaction.