Title:
BANK CHEQUE SYSTEM WITH CHEQUES HAVING MAGNETIZED STRIPS AND/OR STORAGE CHIPS
Document Type and Number:
WIPO Patent Application WO2001041082
Kind Code:
B1
Abstract:
A system and method to produce and use new bank cheques with magnetized strips (30) and/or storage chips (33) to avoid forging in the cheques and to confirm immediately upon introducing them for negotiation, whether or not sufficient funds are available. The bank cheque system comprises issued bank cheques whose front and rear faces carry imprinted visible data (11-21) and a magnetic strip (30) and/or storage chip (33) containing stored encoded data readable by a reader so it can be checked for conformity with the visible data (11-21) to detect any unauthorized alterations to the cheque. The visible data (11-21) and stored encoded data include an identification of a cheque (19), account, drawer (15) and bank (16). The new cheques include cheques with a maximum value, or a fixed value that is pre-paid and blocked in the drawer's account, and "ordinary" cheques, enabling to check whether the cheques to be paid with a sufficient blocked amount. The invention includes a control bank system and the usage of the reader devices to confirm the correctness and safety of these cheques, and can be negotiated immediately. The cheques according to the invention can be made of plastic, or paper merged with plastic or any other material. The plastic in the edges of the plastic cheques are thicker and non-covered with paper to carry the magnetized strip and/or storage chip, in accordance with standard specifications compatible with the reader devices.
Inventors:
AL AMRI MOOSA EISA (AE)
Application Number:
PCT/IB2000/001710
Publication Date:
January 31, 2002
Filing Date:
November 21, 2000
Export Citation:
Assignee:
AL AMRI MOOSA EISA (AE)
International Classes:
G06K19/10; G06Q20/00; G06K19/06; G06Q20/04; G06Q20/34; G06Q40/00; G07D7/00; G07F7/02; G07F7/12; (IPC1-7): G07F19/00; B42D15/10
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