System and method for automated binning and automatic data entry of centralized returns

摘要: Returned checks are collected at a central return (CR) bank. The CR bank passes batch of returned through binning machine that is connected to database. For each check in the batch, scans magnetic ink character recognition (MICR) on check, using an optical (OCR) reader, captures digital image and sends this information about database form query. matches identifying database, which was captured time original transaction, combines into file. It then returns copy file machine. uses from bin by merchant, doing likewise for batch. Once have been binned, has corresponding electronic record comprising its All records belonging specific merchant forwarded reimbursement collection.