Real-time interbank transactions systems and methods

US11295283B1 · kind B1 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Alan W. Hecht · San Francisco, US
• Ann M. Kirk · San Francisco, US
• Brian M. Pearce · Pleasanton, US
• Steven E. Puffer · Champlin, US
• Wairnola Marria Rhodriquez · San Francisco, US
• Javier S. Silva · Concord, US

Key dates

• Filing date: Mar 21, 2017
• Grant date: Apr 5, 2022
• Expiry date: Oct 22, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method of performing a real-time non-inquiry electronic transaction is provided. The method includes receiving, by a paying bank computing system associated with a paying bank, a posting of a transaction from an account verification service, the transaction corresponding to a transfer of funds from the paying bank computing system to a depository computing system associated with a depository bank. The method further includes sending, by the paying bank computing system, an acknowledgement of the transaction to the account verification service, wherein the transaction is determined to be a non-inquiry transaction such that the transaction is posted at the depository bank computing system without performing an initial inquiry regarding the transaction at the account verification service.