System and method for providing automatic teller machine services to multiple financial institutions
First Claim
1. A system for providing ATM services comprising:
- an ATM service provider, the provider providing at least two ATMs, wherein the ATMs are connected to a network;
a plurality of financial institutions, each financial institution having a plurality of customers, wherein each financial institution contracts with the ATM service provider for the provision of ATM services to its customers; and
the ATM service provider providing ATM services to the customers of the financial institutions, wherein the ATM service provider generates revenue by charging each financial institution an access fee for access to the ATM network and by collecting an interchange fee for each transaction initiated by each of the financial institution'"'"'s respective customers.
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Abstract
A method and a system for providing automatic teller machine (“ATM”) services to the customers of multiple financial institutions where the financial institutions contract with an ATM services provider. The ATM services provider providing multiple ATM'"'"'s which are connected to an electronic funds transfer network. In an exemplary embodiment, the contracting financial institutions pay fees to the services provider in return for the services provider providing the financial institutions'"'"' customers with reduced or no cost ATM access. By contracting out the same set of ATMs to multiple financial institutions, the ATM services provider reduces duplicate ATM costs incurred when each financial institution maintains its own ATM network. Preferably, each of the ATMs of the ATM services provider has similar distinguishing characteristics or “trade dress” so as to make the ATM services provider'"'"'s ATMs readily distinguishable from other ATMs. The ATM services provider may maintain a database of information about the customers and financial institutions including, but not limited to, the account numbers, the financial institution identification numbers, the transaction histories, and the contractual arrangements for determining the amount of reduced fees to be charged to the financial institutions and their customers. The service provider'"'"'s ATMs may provide all conventional ATM transactions including, but not limited to, withdrawals of cash, inquiries of account balances, transfers of balances, and deposits of monies and checks.
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Citations
31 Claims
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1. A system for providing ATM services comprising:
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an ATM service provider, the provider providing at least two ATMs, wherein the ATMs are connected to a network;
a plurality of financial institutions, each financial institution having a plurality of customers, wherein each financial institution contracts with the ATM service provider for the provision of ATM services to its customers; and
the ATM service provider providing ATM services to the customers of the financial institutions, wherein the ATM service provider generates revenue by charging each financial institution an access fee for access to the ATM network and by collecting an interchange fee for each transaction initiated by each of the financial institution'"'"'s respective customers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31)
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18. A method for providing ATM services to a plurality of financial institutions, wherein each financial institution has a plurality of customers, the method comprising:
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providing an ATM services provider, wherein the provider maintains at least two ATMs, which are connected to a network;
contracting with each respective financial institution to provide ATM services to the customers of the financial institution; and
charging each financial institution an access fee for access to the ATM network and collecting an interchange fee for each transaction initiated by each of the financial institution'"'"'s respective customers.
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Specification