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SYSTEM AND METHOD FOR CHECKLESS CASH ADVANCE SETTLEMENT

  • US 20090065573A1
  • Filed: 11/11/2008
  • Published: 03/12/2009
  • Est. Priority Date: 09/09/2004
  • Status: Active Grant
First Claim
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1. A method in a computer system for executing a checkless cash advance settlement at a gaming machine, comprising:

  • (a) initiating a POS cash advance transaction via the gaming machine with a credit/debit card,(b) authorizing the POS cash advance transaction;

    (c) providing customer identification and a credit/debit card to an attendant, wherein the customer identification contains personal information;

    (d) electronically capturing the customer identification containing personal information;

    (e) validating the customer identification and the credit/debit card presented to the cashier or attendant;

    (f) completing the transaction upon validation of the identification, including dispensing cash requested in the debit or credit POS cash advance transaction to the customer;

    (g) presenting a transaction receipt to the customer, wherein the transaction receipt is a non-negotiable instrument providing proof of cash dispersal;

    (h) obtaining a customer signature on the transaction receipt to confirm the transaction;

    (i) storing the transaction receipt, wherein the transaction receipt is scanned and stored electronically;

    (j) recording the transaction information, including recording an electronic image of the transaction receipt on a central server; and

    (k) generating an ACH file containing all the cash advance transactions completed for a predetermined specified settlement period and electronically transmitting the ACH file to a designated financial institution for processing and successive posting of the deposits.

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