System and Method of Providing Replenishment and Pick-up Services to One or More Cash Handling Devices

• US 20100131407A1
• Filed: 11/25/2008
• Published: 05/27/2010
• Est. Priority Date: 11/25/2008
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Hensley, Veralyn, Folk, Amy Baker, Bohen, Daniel Christopher, Nichols, Michelle, Atwood, Todd, Heddleson, James
• Granted Patent: US 9,311,671 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 10/08355 Routing methods
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04W 4/02 Services making use of location information
• CPC Class Codes: H04W 4/024 Guidance services

Abstract

A transport carrier (i.e., an armored vehicle or any mode of transportation) may be equipped with cash storage and recycling capabilities. The transport carrier may be equipped to replenish funds as needed and/or pick up a surplus of funds. The transport carrier may be in communication with a financial institution and/or a central server. In some arrangements, the central server may dynamically route the transport carrier to cash handling devices as various locations in order to efficiently meet the needs of the devices and associated clients.

Claims

1. A method of transferring cash between locations, comprising:

receiving a request for a first transaction at a first location, wherein the first transaction is collecting a surplus of cash at the first location;

transmitting information regarding the first transaction to a financial institution;

receiving a request for a second transaction at a second location, wherein the second transaction is replenishing a deficiency of cash at the second location;

replenishing the deficient funds at the second location with the surplus of cash collected at the first location; and

transmitting information regarding the second transaction to the financial institution.

2. The method of claim 1, wherein the step of replenishing the deficient funds at the second location includes replenishing using funds in the transport carrier on board inventory.

3. The method of claim 1, wherein the step of transmitting information regarding the first transaction includes crediting a client account.

4. The method of claim 3, wherein the step of crediting a client account includes crediting at least one of a direct deposit account and a financial institution general ledger account.

5. The method of claim 1, wherein the step of transmitting information regarding the second transaction includes debiting a client account.

6. The method of claim 5, wherein the step of debiting the client account includes debiting at least one of a direct deposit account and a financial institution general ledger account.

7. The method of claim 1, wherein the step of receiving the request for a second transaction includes receiving an on demand request.

8. The method of claim 1, wherein the step of receiving the request for a first transaction includes receiving a prescheduled request.

9. A method of transferring cash between locations, comprising:

determining, at a central server, a prescheduled route for transport carrier transactions;

receiving, at the central server, a request for a transaction at a first location;

rerouting the transport carrier to the first location, the first location not being part of the prescheduled route;

completing the transaction at the first location using funds on board the transport carrier; and

transmitting information regarding the transaction at the first location to a financial institution.

10. The method of claim 9, wherein the step of transmitting information regarding the transaction includes at least one of debiting and crediting a client account at the financial institution.

11. The method of claim 9, wherein the step of transmitting information regarding the transaction includes at least one of debiting and crediting an internal account.

12. The method of claim 9, further including transmitting the information regarding the transaction at the first location to the central server.

13. The method of claim 9, wherein the request for the transaction at the first location is an on-demand request.

14. The method of claim 9, wherein the request for the transaction at the first location is an emergency request.

15. A method of transferring cash between locations, comprising:

transmitting, from a central server, a prescheduled route, the prescheduled route including a plurality of locations for a transport carrier to visit;

receiving, at the central server, a request for a transaction at first location not on the prescheduled route;

determining, at the central server, that a first transport carrier is equipped to complete the transaction; and

rerouting the first transport carrier to the location not on the prescheduled route to complete the requested transaction.

16. The method of claim 15, further including completing the transaction using funds on board the first transport carrier.

17. The method of claim 16, wherein the step of completing the transaction is performed without obtaining additional funds from a financial institution.

18. The method of claim 16, wherein the step of completing the transaction is performed without obtaining additional funds from a centralized location.

19. The method of claim 15, further including determining, at the central server, whether the first transport carrier should resume the prescheduled route upon completion of the requested transaction.

20. The method of claim 19, wherein upon determining that the transport carrier should resume the prescheduled route, transmitting an indication to resume the prescheduled route to the first transport carrier.

21. The method of claim 19, wherein upon determining that the transport carrier should not resume the prescheduled route, rerouting the first transport carrier to a second location not on the prescheduled route.

22. The method of claim 15, further including transmitting information regarding the requested transaction to the central server.

23. The method of claim 22, wherein the information transmitted includes an amount associated with the transaction.

24. The method of claim 22, wherein the information transmitting includes at least one of information regarding denominations and variance to predicted amount versus actual.

25. The method of claim 22, wherein the information transmitting includes an indication that the transaction was completed.

26. The method of claim 15, further including transmitting information regarding the requested transaction to a financial institution.

27. The method of claim 26, wherein the step of transmitting information to the financial institution includes at least one of debiting and crediting a client account.