Electronic traveler's checks

• US 20030111526A1
• Filed: 10/30/2002
• Published: 06/19/2003
• Est. Priority Date: 12/14/2001
• Status: Active Grant

• Current Assignee: Damon Eugene Smith
• Original Assignee: Damon Eugene Smith
• Inventors: Smith, Damon Eugene
• Granted Patent: US 6,857,565 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered

Abstract

An electronic traveler'"'"'s check system and method comprising an electronic travelers check card which is useable to retrieve money from point of service locations and banks. The system has a database of user information such as a pin number and the user'"'"'s passport number which is used to verify the identity of the user before a transaction can take place.

Claims

1. An electronic traveler'"'"'s check system, comprising:

a electronic traveler'"'"'s check card having verification characteristics and a magnetic strip;

a card reader having a keypad, magnetic strip reader and display;

a server;

a database connected to said server;

a means for allowing communication between said card reader and said server;

a means for verifying data from the card reader; and

a means for verifying currency account data and electronically transferring money;

wherein said card reader is connectable to said server.

2. The electronic traveler'"'"'s check system according to claim 1, wherein said electronic travelers check card expires when said currency account is depleted.

3. The electronic traveler'"'"'s check system according to claim 1, wherein said card expires upon the expiration of the passport used to furnish the passport data.

4. The electronic traveler'"'"'s check system according to claim 1, wherein said database contains information relating to the holder of the traveler'"'"'s check card including, his or her passport number, pin number, and an account listing the amount of currency associated with said check card.

5. The electronic traveler'"'"'s check system according to claim 1, wherein said means for verifying currency data further comprises:

a means for prompting a customer to additional funds to a depleted card.

6. The electronic traveler'"'"'s check system according to claim 1, further comprising:

a means for generating a receipt; and

a printer located on said card reader.

7. The electronic traveler'"'"'s check system according to claim 1, further comprising:

a valid passport.

11. The electronic check cashing system as in claim 1, further comprising:

a means for restricting the amount of currency can be deducted from said account in a particular time period.

8. A method of using an electronic travelers check system, comprising the following steps:

a) presenting an electronic travelers check card and a passport to an appropriate bank or vender clerk;

b) reading the electronic travelers check with a magnetic card reader;

c) entering a user'"'"'s passport number and personal identification number into said magnetic card reader;

d) verifying said passport number and said personal identification number;

e) verifying that sufficient funds are present in an account linked to said card.

9. The method of claim 8, further comprising the following steps:

f) verifying that the picture on said passport matches said user of said card.

10. The method of claim 9, further comprising the following steps:

g) generating a receipt;

h) having the user sign the receipt;

i) comparing said signature to the signature on the back of said travelers check card.