Treatment of Checks Drawn on Accounts With Insufficient Funds
Original Publication Date: 1984-Mar-01
Included in the Prior Art Database: 2005-Feb-03
An operator-attended bank check processing machine, such as, for example, the IBM Model 3694, is provided with a punch 10 that can be selectively operated under operator or computer control to obliterate all or part of the MICR code line of a bank check 12. A bank check so mutilated will not be automatically processable by further bank check processing machinery. This feature enables checks drawn on accounts with insufficient funds to be automatically rejected should any further attempt be made to negotiate the check.