SYSTEM AND METHOD FOR ELECTRONIC DEPOSIT OF THIRD-PARTY CHECKS BY NON-COMMERCIAL BANKING CUSTOMERS FROM REMOTE LOCATIONS

摘要

A system and method for initiating a deposit transaction, where the depositor is a non-commercial banking customer located at a remote location, and where the item to be deposited is a paper check from a third party, payable to the depositor. The enabling system features a Remote Customer Terminal (100) with certain input devices, connected to a bank system. The image and/or other data sent from the RCT (100) to the Bank of First Deposit (110) may be processed by conversion to Electronic Funds Transfer (EFT), via Electronic Check Presentment (ECP), or via check reconstruction. The new system and method provide convenience and improved transaction processing speed compared to other transactions that begin with a third party check.