Two-Part Bank Draft

This invention pertains to an apparatus and method for piecing together a bankable or negotiable instrument for sales promotion, and more particularly to a two part promotional check (or draft) to be combined with additional parts by a consumer for direct deposit or cashing at a bank.

Numerous sales promotion systems are in use in the marketplace today. One common promotional activity is a sweepstakes offer in which consumers are invited to mail in entries, the winners to be chosen in a lottery style selection. However, this system encourages many non-buyers of the item being promoted to take advantage of the sweepstakes but not to purchase the item being promoted.

Another promotional system includes product producers mailing samples to home occupants when introducing new products. Commonly, an insert is provided with a cents-off coupon enclosed to encourage a store sale.

Conventional promotional systems have the disadvantage of being single step in nature with the consequential disadvantage that either nominal sums are offered, as in the case of a cents-off coupon, or, as in a sweepstakes, the consumer is merely one of a large pool of participants having no advantage over the others. Further, the consumer is obliged to wait for the winner's selection for lengthy periods of time as dictated by the sponsor's rules.

As can be seen from the above, current sales promotional methods are limited in application and level of encouragement to a consumer.

In this description the term "check" includes a bank draft. The term "bankable" means acceptable to a bank, i.e. being "depositable" or "cashable".

According to the present invention a part of a full bodied check is held by a consumer subject to assembly with the other parts, when obtained, to form a bankable entity.

A sales promotion means is provided whereby a consumer is given one or more standard size bankable check parts via standard methods of distribution, e.g., the first check part (TOP PORTION CHECK) is not usually in-pack or on-pack at any time but is obtained mostly as follows, i.e.:

1. Direct Mail.

2. Insert--magazine, newspapers, etc.

3. Car rental--Issued with Rental Contract

4. Baby diapers--Pay to ------- Personalized to the new baby.

5. Etc., etc.

The second check part (BOTTOM PORTION CHECK) is always at the point of termination, i.e.:

1. Product purchased.

2. Bill paid timely.

3. Rented car turned in.

4. Diapers purchased.

The checks are so designed as to conform to the Uniform Commercial Code (UCC) guidelines under Article III relating to a form of a bank check, but may be so constituted as to become a bank draft. The check on its face appears to be a standard bank check. The reason for a draft being preferred is that a check is handled by a bank with standard clearing procedures while a draft is handled by clearing procedures subject to conditions as stated on the draft. It is contemplated that the draft of the present invention is to be physically isolated at the designated clearing bank and is made available to a verification and/or validation process prior to re-routing into the clearing process for payment. Alternately the present invention may be used completely in house, e.g., a company may distribute the checks for employee incentive then cash the completed checks for the employee.

The primary advantage of the present invention is that the checks are issued to carry high script dollar amount values. Thus incentive is provided to a holder of a first part of the check to seek out the dollar matching part.

Another advantage is that the dollar value match directly creates a bankable entity increasing incentive to the consumer in that an immediate gratification is effected and an overall efficiency of the system administration is a result.

Another advantage is that the promotion is a two (or more) step process, the first step (receipt of a check part) putting a holder at a distinct advantage as compared to other style program participants while the award offered to the holder is immediate and substantial. It is contemplated that a holder of a large dollar amount check part will actively seek out a matching check part.

Many advantageous uses are contemplated. Rather than the cents-off coupon mailed with a sample commonly used in the past, a check part may be inserted with the sample along with a reference that each store package of the brand involved carries check parts, some of which match the part in possession of the participant, the missing identification number and dollar sign amount.

Another example of an advantageous use includes a situation where an electric company issues a bill due by a specific date. Untimely payment loses interest for the creditor. To encourage timely payments the creditor mails with its bill one of the check parts of the invention. The debtor is advised that if timely payment is received, the next bill rendered will include a check part, a possible match with the first part sent. Each month a new check part is mailed for an ongoing program.

Other advantageous examples exist including encouraging airline passengers not to switch planes by providing a check part when obtaining the ticket, and providing the missing portion of the check to the passenger when he is seated in the plane. Such parts may be envelope encapsulated to avoid selective pilferage.

Store or agency traffic may also be increased by distributing incomplete checks by the many and varied conventional channels used. To complete the check a participant must pick up a matching part by visiting the establishment.

To achieve the above objects and advantages the present invention provides a sales promotional check for direct deposit or cashing at a bank as a bank draft comprising:

a first preprinted sheet having at least a portion which conforms to a bankable bank draft and having identifying information thereon;

a second sheet containing identifying information thereon, the identifying information matching the identifying information on the first sheet, the first and second sheets combining to form a bankable bank draft.

It is noted that the identifying information on either sheet may relate to each other, only in that said identifying information identifies the same dollar amount.

FIG. 1 is an elevated view of the back of a check according to a first embodiment of the present invention.

FIG. 2 is an elevated view of a front of a check having a top half matching portion.

FIG. 3 is an elevated view of a front of a check having a bottom half matching portion.

FIG. 5 is a section view similar to FIG. 4 including a lamina added to the upper portion of the base stock of FIG. 2.

FIG. 4 is a section view of a bottom portion conforming to FIG. 3, the bottom portion being torn away along the easy tear perforation, and being mounted to the bottom portion of FIG. 2.

FIG. 6 is a section view of a bottom portion insert in accordance with FIG. 7 being affixed to a base having a top and a bottom laminated portion added.

FIG. 7 is an elevated view of a front portion of a check showing an alternate embodiment of a bottom part matching portion conforming to FIG. 6.

FIGS. 8 and 9 are further alternate embodiments related to FIG. 7, FIG. 8 being an elevated front view and FIG. 7 being a section view.

FIG. 1 discloses a check back 10 having an endorsement space 12. FIG. 2 illustrates a check front sheet 14 having top portion 16 which conforms to a bankable negotiable instrument and a bottom portion 17. Register number 18 and payee line 19 are provided. Instructional literature 20 is provided on the lower portion 17 of sheet 14. Instructional literature 20 is used to instruct the consumer in how to use sheet 14 and top portion 16 to create a bankable instrument.

FIG. 3 shows a sheet 22 having a top instructional portion 24 and a bottom portion 26 conforming to the bottom portion of a bankable check. Bottom part 26 includes validation reference 28 indicating that a time delay may occur for validation. Validation procedures are further discussed below. A signature line 30 is included to be signed in ink by the party responsible for payment of the check. The signature may be a preprint. Where the signature does not appear, the holder may be instructed to "See the Manager" of the local establishment for signature (i.e., car sales agency) or--the amount may exceed a sum subject to an I.R.S. withholding tax. Under this condition special instructions on the reverse side of the unsigned check will be printed. A "void if removed" label 34 contains a code number used in validation of the check, assuring that sheet 22 is an original issue sheet. The code number is derived from any mathematical formula of any printed numerals appearing such as the register number and the script dollar amount. Account number 38 may be used in the mathematical formula in support of the validation procedure.

The top part of sheet 22 contains instructions 44 for consumer handling of bottom portion 26 of sheet 22. A perforated tear away portion 46 is provided on sheet 22 to allow removal of bottom portion 26 from top portion 24 and affixation of bottom portion 26 to sheet 14 of FIG. 2.

Rub off area 40 is composed of a conventional opaque rub-off overlay material which covers the script dollar amount area of the check. As an alternate a peel-off overlay may be used. Rub off (or peel off overlay) area 42 of sheet 14 is also composed of an opaque overlay material covering a numerical dollar amount. Both the script dollar amount and the numerical dollar amount are covered by an opaque overlay to prevent selective pilferage during the distribution process and to establish in the participant's mind that selection for issue was not devised. If the script dollar amount matches the numerical dollar amount the consumer is a winner and may deposit or cash the bank draft at a bank indicated at 44 on sheet 22 (and 20 of sheet 14).

FIG. 4 is a section view of a base sheet 14 and a bottom portion 26 being adhered thereto by any conventional adhering means.

FIG. 5 is a section view similar to FIG. 4 having top lamina portion 60 pre-affixed to base 58 so that upon adherence of bottom portion 26 to base 58 the outer surface of bottom portion 26 is flush with the outer surface of upper laminate 60 to provide a smooth surface check. A bank may accept a combined check when it is of more conventional physical stature.

FIG. 6 includes a base 54 having an upper laminate 62 and a lower laminate 56 adapted to receive insert 52 to complete the check.

FIG. 7 illustrates a bottom portion 48 of a check similar to that of FIG. 3 without an account number 38 or a signature line 30. Tear away portion 50 is provided so that insert 52 may be combined with base 54 (FIG. 6). Base 54 contains lower laminate portion 56 which contains the account number 38 and signature line 30. A script dollar amount ("one thousand") is also provided.

FIGS. 8 and 9 disclose an embodiment wherein part 64 acts as a plug into portion 66 which is double layered (as shown in section in FIG. 9), the top layer 68 being contiguous around its border and forming a 4-sided "socket" wall.

A description of the production and validation process follows. Upon selection of the desired potential win patterns, lists for printing of both TOP and BOTTOM check (draft) parts are computer generated. The control of the win liability is vested in the assignment of dollar amounts on the TOP Portion Check versus that of those on the BOTTOM Portion Checks. Lists on machine readable media only are to be supplied to the paper (check) printer.

The check printer will print the check numbers and other data (for bank reading) in magnetic inks at the bottom of the checks (not to exceed 5/8 inch height from check bottom exterior) and as a register number on the Top Portion Check at the top. Additionally, printed in standard indelible inks, are the script dollar amounts on the check portion and on the other check portion the numeric $ sign amount, both from a planned compatability computer generated list. Another number(s) will be generated by a complex mathematical formula using the check number, the register number, and the dollar amount. Any numerical sequence of numbers that appear on a check portion face are viable by mathematical equation to act in the validation process. Generated numbers will be printed under the void if removed covering and appear as a bar code or other machine readable code in another area of the check bottom part. The lists (maintained by computer) will be encoded to save memory space and stored on hard disk or other mass data storage media memory at the validation computer.

Arrangements will be made to place equipment and an operator at the clearing bank premises, for validation of the checks prior to the clearing process.

This equipment shall be capable of:

(1) Reading (scanning) the numbers on the bottom of the check and the bar code and/or other machine readable codes.

(2) Receiving data from a keyboard.

(3) Communicating with the computer.

(4) Displaying and printing small amounts of data.

The computer will verify that both the check number and register number are valid for the check amount by referring to encoded files.

If check number and register number are valid, both records will be updated to reflect that validation has occurred, at which time a valid signal will be transmitted to the terminal (bank location computer).

If either check number or register number do not agree with the amount, or if either number has been flagged as previously validated, an invalid signal will be sent.

Upon receipt of a valid signal, the terminal will display and print selected elements of i.e., the check number, amount, and "valid". The operator will place the check in the valid stack and proceed with the next check.

Upon receipt of an invalid code, "invalid" will be displayed and printed on continuous paper roll. The operator will isolate the check for re-examination. Both valid and invalid displayed items may be printed on the same continuous role as they occur.

Any valid checks which appear improper in appearance to the operator will be set aside for verification of the number under the "Do Not Remove" area, and other examination for possible improprieties.

Any valid checks over $100.00 (or other amount to be established) will be re-examined and either passed for clearance or held subject to: rejected as altered, duplicated or forged. All checks will be returned to the clearing bank for concluding the banking process.

The disclosed embodiments effectively attain the objects and advantages of the present invention. Although preferred embodiments of the present invention are discussed, it should be understood that the present invention is not to be limited thereby, but is to be determined by the claims which follow.