METHOD OF USING PAPER CHECKS THAT ARE TIED TO PREPAID DEBIT CARD AND CASHED ONLY BY DESIGNATED ENTITIES

摘要

A method is provided of using paper checks to debit funds maintained in a debit card bank account that is associated with a person. A plurality of unique serial numbers are assigned by the debit card issuer to be pre-printed on paper checks that are associated with the debit card bank account number. The unique serial numbers have no relationship to any personally identifiable information associated with the person. When a filled in paper check is presented for cashing, the unique serial number is checked against the originally assigned serial numbers to verify that the paper check is genuine. Identification information of the person is also verified, and the account balance of the debit card bank account is also verified to make sure that there are sufficient funds in the bank account to cover the check amount.