Method and system for collecting bank account information from an individual and authenticating the individual prior to allowing the bank account to receive an electronic fund transfer

1. A computer-implemented method for collecting bank account information from an individual and authenticating the individual prior to allowing the bank account to receive an electronic fund transfer, comprising:

a) providing a website;

b) allowing the individual to access the website;

c) allowing the individual to enter bank account information on the website to which funds will be transferred;

d) delivering application forms with a unique bar-coded identifier over the internet to the individual in response to step c);

e) electronically receiving and storing the application forms after being completed by the individual and linking the bar coded identifier with the individual's bank account information;

f) visually comparing by at least first and second customer support representatives information provided on the application forms with information provided at step c) to verify the identity of the individual, said comparing by the at least first and second customer representatives is done without knowledge of whether either customer representative has already verified the identity of the individual; and

g) validating payment to the individual if the individual's identity is verified by the at least first and second customer support representatives at step f).

2. The method as in claim 1 , wherein said bank account information includes bank account and routing numbers.

3. The method of claim 2 , and further comprising the step of verifying the routing number against an ABA database.

4. The method of claim 2 , and further comprising the step of linking the government issued ID with the existing individual's bank account information generated at step c).

5. The method of claim 2 , and further comprising the step of linking the individual's bank account information from the received application forms with the existing individual's records generated at step c).

6. The method of claim 1 , wherein the application forms include an instruction page, a registration images form and an ACH authorization form.

7. The method of claim 1 , wherein the step of visually comparing is implemented in the order received.

8. The method of claim 1 , wherein the step of visually comparing includes verifying the name on account, name on photo ID, routing and bank account number.

9. The method of claim 1 , and further comprising the step of automatically linking the received application forms with the existing individual's records generated at step c).

10. The method as in claim 1 , wherein said step of allowing access includes obtaining a password protected user account at the website.

11. The method as in claim 10 , wherein said step of allowing access includes allowing the individual to sign on at the website using the password protected user account.

12. The method as in claim 1 , wherein said step of electronically receiving and storing is implemented by a fax server.

13. A system for collecting and authenticating a bank account information from an individual prior to an electronic fund transfer to the individual's bank account, comprising:

a) a web server for allowing the individual to obtain a password protected user account;

b) a registration data server for storing the individual's user account information, and bank account and routing numbers;

c) an email server for delivering application forms to the individual via the internet;

d) another server for electronically receiving the application forms after being completed by the individual;

e) a first workstation for providing side by side visual display of information provided on the received application forms with the information provided by the individual during a previous online session to allow a first customer support representative to authenticate the identity of the individual; and

f) at least a second workstation for providing side by side visual display of information provided on the received application forms with the information provided by the individual during a previous online session to allow at least a second customer support representative to authenticate the identity of the individual, whereby approval by the first and the at least second customer support representatives without knowledge of each other's approval are required to activate the individual's bank account for receiving payments.

14. A system as in claim 13 , and further comprising a connection to an ABA validation server for validating the individual's bank and routing numbers.

15. A system as in claim 13 , wherein said another server is a fax server.