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Methods and systems for automatically determining and collecting a monetary contribution from an instrumentRelated Patent Categories: Registers, Systems Controlled By Data Bearing Records, Banking SystemsMethods and systems for automatically determining and collecting a monetary contribution from an instrument description/claimsThe Patent Description & Claims data below is from USPTO Patent Application 20060231608, Methods and systems for automatically determining and collecting a monetary contribution from an instrument. Brief Patent Description - Full Patent Description - Patent Application Claims
RELATED APPLICATIONS [0001] This application is a continuation of U.S. application Ser. No. 10/656,748, entitled "Methods and Systems for Automatically Determining and Collecting A Monetary Contribution From An Instrument," filed Sep. 5, 2003, issued as U.S. Pat. No. ______, which is incorporated herein by reference. FIELD OF THE INVENTION [0002] The invention generally relates to processing financial transactions. More particularly, the invention relates to methods and systems for automatically determining and collecting a monetary contribution from an instrument (such as a paycheck or a bill). BACKGROUND OF THE INVENTION [0003] Conventional systems and methods for collecting monetary contributions from a donor include the distribution of one or more collection containers. In many instances, the collection containers are manually placed in shops, businesses, and other public places to solicit monetary donations from the public. When a person wants to make a donation, the donation is placed into the collection container. After time or when the collection container is full, each of the collection containers is sent to a central location for counting and administration of the monetary contributions. Since these types of contributions are anonymous, in most instances there is no donor accounting, acknowledgment, or reporting. [0004] For example, at least one charity solicits donations in convenience stores using a collection jar with the name of the charity on the exterior of the collection jar. Customers of the conventience store are encouraged to donate monies such as spare change from a financial transaction with a cashier by placing the monies into the container. Thus, a customer/donor paying for a $1.75 item in a store could provide $2.00 to a store clerk. The store clerk would determine that $0.25 change is to be given back to the customer/donor. The customer/donor could put a portion or all of the change into the collection container. When the collection jar is full, the charity picks up the collection jar and transports the jar to a central location for counting. All donated monies from collection jars are counted and deposited into an account on behalf of the charity. This and other similar conventional systems and methods have many drawbacks. [0005] Administration of collection jars is time consuming, inefficient, and expensive. Monies collected in each collection jar must be counted and then collected in a centralized location for deposit to a charity or to another fundraising entity. Further, collection jars are prone to theft as unscrupulous individuals can easily remove monies from the jar or can otherwise remove jars from their locations in public places. Moreover, individuals making donations to a collection jar cannot or rarely account for their donations, and therefore cannot obtain a tax deduction for their charitable contribution provided by certain tax laws and regulations. In other instances, individuals cannot obtain recognition from their employer for their charitable contributions or obtain matching contributions from their employer since donations to a collection jar are difficult to track and to account for on an individual basis. These and other drawbacks discourage many individuals from making charitable contributions to collection jars or by other methods, while other individuals might be discouraged from increasing their charitable contributions for many of the same or other reasons. Similarly, some charitable organizations might find these and other drawbacks exceed the benefits of manually collecting monetary contributions. [0006] Monetary contributions via an electronic transaction became possible when banks and other financial institutions accepted electronic transfers of monetary funds for the purchase of goods and services. Computerized financial networks also enhanced the ability of conventional systems and methods to collect monetary contributions from donors at a point-of-sale transaction, such as when a customer purchases an item at a cash register. These conventional systems and methods also provide methods for determining a monetary contribution from a point-of-sale transaction. However, these conventional systems and methods are limited to determining and collecting monetary contributions from donors during a point-of-sale transaction. These conventional systems and methods include at least the following references: [0007] U.S. Pat. No. 6,253,998 B1 to Ziarno ("the '998 Patent"): This patent discloses a point-of-sale, fundraising terminal for managing charitable contributions. However, the '998 Patent concerns monetary contributions made at a point-of-sale such as when purchasing an item in a store. Using the fundraising terminal disclosed in the '998 Patent, a customer/donor can make a cash contribution, a credit card contribution, or a debit card contribution to a third-party. The customer/donor must offer the contribution at the time of the point-of-sale transaction, and then manually inputs the amount for the desired contribution into the fundraising terminal, in this case, a portable, hand-held contribution collection device located at the location of the point-of-sale. Additional information such as customer and account identification can be collected by the fundraising terminal, and the contribution amount can then be transmitted via a communication link to a funds processing database or to a debit/credit card processor. An account of the customer/donor can then be charged or debited in the amount of the contribution, and the amount of the third-party fundraising organization can be credited appropriately. [0008] U.S. Pat. No. 6,112,191 to Burke ("the '191 Patent"): This patent discloses a method and system to create excess funds from consumer spending transactions. However, the '191 Patent concerns collecting monetary contributions from a customer/donor tendering an excess payment at a point-of-sale transaction. The '191 Patent utilizes an electronic cash register to determine an amount of excess funds created at a point-of-sale transaction. Through the electronic cash register, a customer/donor can make a check contribution, a credit card contribution, or a debit card contribution to a third-party. The electronic cash register determines the excess difference between a purchase price and the amount of payment tendered by the customer/donor. The excess difference is transmitted with customer account information from the electronic cash register to a clearinghouse central computer. The customer/donor may also select the amount of change to receive back as well as which charities to donate any remaining amount of change to. The clearinghouse central computer receives the information and then distributes remaining contribution amounts to respective charities. [0009] In one embodiment of the '191 patent, a rounder system creates excess funds from excess payments without the cooperation or awareness of a payee who accepts payments for the purchase of services or goods. However, the rounder system concerns rounding payments for point-of-sale transactions for the purchase of goods or services. The rounder system adds or subtracts an amount of excess funds to the face amount or a number of entries and then adjusts the account balance accordingly. The excess amount can be a rounder number or percentage that is applied to each account entry, e.g., $1.00, $3.00, 2%, or a specific number, $1.50, to create excess funds. In one embodiment, the rounder number is a whole dollar amount such as $1.00, $5.00, $10.00. The amount of excess funds is then displayed in the account and can be periodically transferred to third-party accounts such as charities. [0010] U.S. Pat. No. 6,088,682 to Burke ("the '682 Patent"): This patent discloses a funds distribution system connected with point-of-sale transactions. However, the '682 Patent concerns collecting monetary contributions from a customer/donor tendering an excess payment at a point-of-sale transaction. The '682 Patent utilizes a remote input device, such as a cash register connected to a central computer, to enter a contribution amount from an amount of excess funds created at a point-of-sale transaction. Through the remote input device, a customer/donor can make a cash contribution, a check contribution, or a credit card contribution to a third-party. The remote input device receives an input from the customer/donor corresponding to the amount of a desired monetary contribution, such as the excess difference between a purchase price and the amount of payment tendered by the customer/donor. The amount of the monetary contribution is then transmitted with customer account information from the remote input device to a central computer. The customer/donor may also select the amount of change to receive back as well as which charities to donate any remaining amount of change to. The central computer receives the information and then distributes remaining contribution amounts to respective charities. [0011] Other conventional systems and methods focus on direct and automatic payroll contributions to third-parties through a system and method for self-administered payroll deduction from an employee's gross pay. However, these conventional systems and methods concern allocating monetary funds from an employee's paycheck to pay for obligations owed by the employee. [0012] For example, PCT Application No. PCT/US02/33584, published as International Publication No. WO 03/034186 A2 ("the PCT '186 Publication") is directed to a method allowing an employee to self-administer automatic payroll deductions from his gross pay and to transfer funds to a vendor. However, the method of the PCT '186 Publication concerns automatically deducting payments from an employee's payroll when a particular amount is specified by the employee. [0013] Accordingly, a need exists for methods and systems for automatically determining and collecting a monetary contribution from an instrument (such as a paycheck or a bill). [0014] Yet another need exists for methods and systems for automatically determining and collecting a monetary contribution from a donor associated with a financial instrument. [0015] Another need exists for methods and systems for automatically determining and collecting a monetary contribution from a donor associated with a billing instrument. [0016] Still another need exists for methods and systems for accounting and reporting collected monetary contributions from a donor associated with an instrument (such as a paycheck or a bill). SUMMARY OF THE INVENTION [0017] The invention addresses some or all of the needs described above. One embodiment of the invention provides a method for automatically determining and collecting a monetary contribution from an instrument associated with a donor. The method includes receiving an instrument; determining a currency amount of the instrument; and determining a monetary contribution. Determining a monetary contribution includes determining whether the instrument is a billing instrument or financial instrument. If the instrument is a financial instrument, the method provides for rounding the currency amount of the financial instrument downward to a lower currency amount; and determining the difference (a positive value) between the currency amount of the financial instrument and the lower currency amount, wherein the difference is the monetary contribution. If the instrument is a billing instrument, the method provides for rounding the currency amount of the billing instrument upward to a higher currency amount; and determining the difference (a positive value) between the higher currency amount and the currency amount of the billing instrument, wherein the difference is the monetary contribution. The method also includes collecting the monetary contribution into a target account. Algorithms associated with determining a monetary contribution useful in carrying out such systems and methods are described. [0018] One aspect of the invention includes methods and systems for accounting and reporting collected monetary contributions. Regardless of which type of instrument or combination of instruments is processed, embodiments of the invention can account for and report collected monetary contributions to various entities associated with the contribution, including the donor, recipient or target of the monetary contribution, and/or a third-party that matches or supplements the monetary contribution. [0019] Other aspects of the invention provide systems for automatically determining and collecting a monetary contribution from an instrument associated with a donor. 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