Efunds Corporation

Connie Koep

Robert Lawrence Hill

Whitney Hilton Stewart

A system for generating and processing an electronic funding application is disclosed. The system includes a memory storing instructions and a processor configured to execute the instructions to transmit the electronic funding application to a client and enter financial data into the funding application. The financial data includes a magnetic ink character recognition (MICR) line, a currency amount, and an account identifier. The instructions further transmit the financial data to a server, validate at least a portion of the financial data by comparing a portion of the financial data to data representing valid demand deposit accounts, convert the MICR line to an item compatible with an automated clearing house (ACH) network, and submit the item and the currency amount to the ACH network. The currency amount is transferred from the demand deposit account of the customer to the financial account of the customer.

Method and system for funding a financial account

A system and method of electronically funding a financial account is disclosed. The method includes the acts of providing an electronic funding application, electronically transmitting the electronic funding application to a customer-operated client, and entering financial data into the funding application of the customer-operated client. The financial data includes a magnetic ink character recognition (MICR) line, a currency amount, and an account identifier. The method further includes the acts of electronically transmitting the financial data to a server (), validating that at least a portion of the entered financial data corresponds to the demand deposit account, converting the MICR line to an item compatible with the Automated Clearing House network, submitting the item and the currency to this network and electronically transfering the currency from the demand deposit account to the financial account.

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Rosemount, MN, United States of America

Connie Koep