Patent Number: 7,822,664

Title: Future check financing method

Abstract: A Future Check Financing Method is disclosed. The method enables purchasers and others to present future-dated checks (or other payment vehicles) at the point of sale for purchases. The potential recipient of the future-dated payment vehicles and/or a check guarantee entity is able to make a lending decision based solely on the presenter's check writing history. The recipient of future-dated checks under the method will receive full payment (typically minus service charges) nearly immediately after completing the transaction with the presenter, rather than when all future-dated payment vehicles become payable. The check writing history may include negative check writing history for the presenter, but also may include positive check writing history for the presenter.

Inventors: Friedman; Adam (San Diego, CA)


International Classification: G06Q 40/00 (20060101)

Expiration Date: 2018-10-26 0:00:00