AUTOMATED QUALIFYING OF A CUSTOMER TO RECEIVE A CASH LOAN AT AN AUTOMATED TELLER MACHINE

• US 20090089205A1
• Filed: 10/13/2007
• Published: 04/02/2009
• Est. Priority Date: 09/29/2007
• Status: Active Application

• Current Assignee: Anthony Jeremiah Bayne
• Original Assignee: Anthony Jeremiah Bayne
• Inventors: Bayne, Anthony Jeremiah
• Application Number:
  US11/871,992
• Publication Number:
  US 20090089205A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

An automated system and method for qualifying a customer to receive a cash loan at an ATM, when the customer attempts to withdraw more than the available cash from an account that receives regular deposits, and selecting a fee to charge for overdraft protection on a transactional basis. The fee amount is selected from a range of fees, and is dependent on the amount of overdraft protection provided, as a percentage of the transaction amount.

Claims

1. A method for providing a customer a loan, via an ATM, comprising:

determining an amount of cash selected at an ATM for withdrawal from a customer'"'"'s account;

determining the account'"'"'s available cash for withdrawal;

determining whether the amount selected exceeds the account'"'"'s available cash;

determining whether the customer qualifies to receive a loan, when the amount selected exceeds the available cash;

offering the customer a cash loan subject to terms, when the customer qualifies to receive a cash loan;

presenting loan terms to the customer, when the customer indicates an interest in receiving the cash loan;

determining if the customer accepts the terms presented; and

providing the cash loan to the customer, when the customer accepts the terms presented.

2. The method of claim 1, where a customer qualifies to receive a loan when the customer'"'"'s account regularly receives deposits.

3. The method of claim 1, where a customer qualifies to receive a loan, when the customer has one or more accounts maintained by the loan offeror, that regularly receives deposits.

4. The method of claim 1, where the available cash is the customer'"'"'s account balance, exclusive of any overdraft line of credit, bounce check protection, or overdraft transfer protection.

5. The method of claim 1, where a customer may select to have a credit added to a stored value card instead of receiving cash.

6. The method of claim 1, where loan terms comply with the Truth in Lending Act, and further includes a term that the loan, interest and fees may be deducted from any deposit made to any customer account maintained by the loan offeror.

7. The method of claim 1, where the customer accepts the loan terms presented by re-entering an ATM access code.

8. A system for providing a customer a loan, via an ATM, comprising:

means for determining an amount of cash selected at an ATM for withdrawal from a customer'"'"'s account;

means for determining the account'"'"'s available cash for withdrawal;

means for determining whether the amount selected exceeds the account'"'"'s available cash;

means for determining whether the customer qualifies to receive a loan, when the amount selected exceeds the available cash;

means for offering the customer a cash loan subject to terms, when the customer qualifies to receive a cash loan;

means for presenting loan terms to the customer, when the customer indicates an interest in receiving the cash loan;

means for determining if the customer accepts the terms presented; and

means for providing the cash loan to the customer, when the customer accepts the terms presented.

9. The system of claim 8, further comprising means for qualifying a customer to receive a loan when the customer'"'"'s account regularly receives deposits.

10. The system of claim 8, where the available cash is the customer'"'"'s account balance, exclusive of any overdraft line of credit, bounce check protection, or overdraft transfer protection.

11. The system of claim 8, further comprises means for adding credit to an ATM access card, when the ATM access card is also a stored value card.

12. The system of claim 8, further comprising means for qualifying the customer based at least in part on the estimated time of the next deposit to the account, the estimate further based on a pattern of deposits made to the account.

13. A method for providing a loan, via an ATM, to a member of a credit union, comprising:

determining an amount selected by a member for withdrawal from the member'"'"'s account via an ATM;

determining the available cash for withdrawal;

determining whether the amount selected exceeds the account'"'"'s available cash;

determining whether the account regularly receives deposits, when the amount selected exceeds the available cash, further;

offering the member a cash loan subject to terms, when the account regularly receives deposits;

presenting loan terms to the member, when the member indicates that the member is interested in accepting the offer;

determining if the member accepts the terms presented; and

providing the cash loan to the member, when the member accepts the terms presented.

14. The method of claim 13, where regularly received deposits is comprised of a group consisting of, weekly, bi-monthly, monthly, quarterly, semi-annual, and annual deposits.

15. The method of claim 13, where the member agrees that loan repayment may be made by automatically deducting from any deposit made into any account maintained by the credit union for the member.

16. An automated method for determining an overdraft protection fee, on a transactional basis, comprising:

determining whether a customer'"'"'s overdraft protection has paid out to cover a customer'"'"'s transaction;

determining the difference between the transaction amount and available cash in the customer'"'"'s account, when the overdraft protection has paid out to cover the transaction;

determining an overdraft protection fee for the transaction, based at least in part on the difference.

17. The method of claim 16, where an overdraft protection fee includes a range of overdraft protection fees.

18. The method of claim 16, where the range of overdraft protection fees, comprises a minimum fee, a mid-range fee and a maximum fee.

19. The method of claim 16, where determining the overdraft protection fee, further comprises determining the difference as a percentage of the transaction amount, and as the percentage increases the overdraft protection fee increases.

20. The method of claim 16, where the overdraft protection fee is based on the difference as a dollar amount, and increases as the difference in the dollar amount increases.

21. A method of marketing a loan to a customer via an ATM, comprising:

determining an amount selected by a customer to withdraw from the customer'"'"'s account via an ATM;

determining whether the customer qualifies to receive a loan when the amount selected would reduce the account'"'"'s available cash below a threshold amount; and

offering a loan to the customer via the ATM, when the customer qualifies to receive a loan.

22. The method of claim 21, further comprising:

presenting loan terms to the customer;

determining whether the customer accepts the terms; and

providing the loan to the customer after the customer accepts the terms.

23. The method of claim 21, wherein the “

available cash”

is the customer'"'"'s account balance, exclusive of any overdraft line of credit, bounce check protection, or overdraft transfer protection.

24. The method of claim 21, wherein the customer qualifies to receive a loan, when the customer'"'"'s account regularly receives deposits.

25. The method of claim 21, wherein the customer accepts the loan terms presented by one of a group, the group comprising re-entering an ATM access code, answering a question relating to the personal information of the account holder.