System and method for storefront bank deposits
View Patent ↗A method and system are disclosed for submitting financial instruments, cash and other value bearing documents for deposit at retail locations unaffiliated with the various financial institutions the deposits are directed to. The method includes identifying account holders and scanning the physical documents to be deposited with equipment at the retail location that is provided by a third party facilitator. The equipment at the retail location communicates with a third party facilitator system to lookup bank routing information and uses this information to complete a remote deposit transaction for the account holder with that account holder's particular financial institution. The system may include a standalone or distributed system having a memory in communication with a processor system configured to perform the method noted above.
1. A computer-implemented method of assisting remote deposits from a remote deposit system to unrelated financial institutions, the method comprising:
at a processor of a mobile device of the remote deposit system, the processor executing instructions of a third party facilitator module stored at a memory of the mobile device, the processor executing instructions of the third party facilitator module:
receiving information of the mobile device of the remote deposit system requesting financial institution information from the third party facilitator module, the information including identification information pertaining to an unrelated financial institution;
based on the received identification information, determining a financial institution information pertaining to the unrelated financial institution, the financial institution information including communication path information for directly submitting remote deposits from the mobile device of the remote deposit system to the unrelated financial institution without intervention by the third party facilitator module; and
providing the determined financial institution information pertaining to the identification information to the mobile device of the remote deposit system from the third party facilitator module.
2. The method of claim 1 , wherein determining the financial institution information comprises the processor selecting, from a database of financial institution information of the third party facilitator module, the financial institution information for the unrelated financial institution based on the identification information.
3. The method of claim 1 , wherein at the time of receiving the information of the mobile device, the mobile device of the remote deposit system is located at a retail location unaffiliated with any financial institution.
4. The method of claim 1 , wherein at the time of receiving the information of the mobile device, the mobile device of the remote deposit system is located at an express mail service.
5. The method of claim 1 , wherein the identification information received by the processor comprises a portion of an ATM card number.
6. The method of claim 1 , wherein the identification information comprises a customer selection of the unrelated financial institutions from a plurality of financial institution choices presented at the remote deposit system.
7. A system for assisting a remote deposit transaction for a financial instrument between a mobile device of a remote deposit system and an unrelated financial institution, the comprising:
a memory device of the mobile device configured to store a third party facilitator module containing financial institution information, including communication path information, for an unrelated financial institution; and
a processor of the mobile device in communication with the memory device, the processor configured to execute instructions of the third party facilitator module and to:
receive information of the mobile device requesting financial institution information, the information including identification information pertaining to the unrelated financial institution;
based on the received identification information, determine the financial institution information including communication path information for submitting remote deposits to the unrelated financial institution; and
provide the determined financial institution information pertaining to the identification information to the mobile device of the remote deposit system from the third party facilitator module, wherein the determined financial institution information comprises information on a direct communication path from the mobile device of the remote deposit system to the unrelated financial institution, wherein the direct communication path does not include intervention by the third party facilitator module.
8. The system of claim 7 , wherein at the time of receiving the information from the mobile device, the mobile device is located at a retail location unaffiliated with any financial institution.
9. The system of claim 7 , wherein at the time of receiving the information from the mobile device, the mobile device is located at an express mail service.
10. The system of claim 7 , wherein the identification information received in the communication comprises a portion of an ATM card number.
11. The system of claim 7 , wherein the identification information comprises a customer selection of the unrelated financial institution from a plurality of financial institution choices presented at the remote deposit system.
12. A remote deposit system for depositing financial instruments with an unrelated financial institution, the remote deposit system comprising:
a mobile device comprising:
a financial instrument scanner;
a communication interface configured to communicate with the unrelated financial institution; and
a processor, wherein the processor is configured to:
provide a financial institution information query to a third party facilitator module that is executed on the processor of the mobile device, wherein the financial institution information query includes account holder information, the financial institution information query requesting identification of a second communication path from the mobile device to the unrelated financial institution of the account holder;
in response to the provided query, receive financial institution information from the third party facilitator module, including the second communication path, the second communication path comprising a direct communication path from the mobile device to the unrelated financial institution of the account holder not including the third party facilitator system;
transmit account holder information to the unrelated financial institution of the account holder over the second communication path using the received financial institution information;
scan a financial instrument with the financial instrument scanner to obtain scan data and submit the scan data to the unrelated financial institution for deposit; and
transmit a transaction identifier to the third party facilitator system, wherein the transaction identifier includes information pertaining to a completed deposit transaction between the mobile device and the unrelated financial institution.
13. The system of claim 12 , wherein when the mobile device provides the financial institution information query, the mobile device is located at a retail location unaffiliated with any financial institution.
14. The system of claim 13 , wherein the received account holder information comprises ATM card data from an ATM card swiped at the kiosk.
15. The system of claim 13 , wherein the received account holder information comprises an account holder selection of the unrelated financial institution from a plurality of financial institution choices presented at the user interface.
16. The system of claim 12 , wherein the received account holder information comprises a token received by the account holder from a financial institution for the account holder and entered into the user interface.