Methods and systems for verifying customer supplied financial account information using debit and credit transactions

US8001050B2 · kind B2 · utility

Assignee

• HSBC Technologies Inc. · US

Inventor

• Stuart Bain · Bound Brook, US

Key dates

• Filing date: May 28, 2010
• Grant date: Aug 16, 2011
• Expiry date: May 28, 2030

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L63/166
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Embodiments of the invention describe methods and systems for verifying customer supplied financial account information verification using debit and credit transactions. These methods include electronically transmitting an electronic debit and credit transaction to the customer financial account, based on the customer supplied financial account information. The method also includes electronically transmitting a first statement descriptor, as part of at least one of the electronic debit transaction and the electronic credit transaction, that includes a first verification code. The method also includes electronically receiving, from the customer, a second verification code, and comparing, by the computer system, the transmitted first verification code with the received second verification code with respect to each other. The method also includes verifying, by the computer system, the customer supplied financial account information based on the comparison of the verification codes.