METHOD AND SYSTEM FOR PERFORMING A CASH TRANSACTION WITH A SELF-SERVICE FINANCIAL TRANSACTION TERMINAL

• US 20110320351A1
• Filed: 09/06/2011
• Published: 12/29/2011
• Est. Priority Date: 07/20/2000
• Status: Active Grant

• Current Assignee: Citicorp Credit Services Incorporated (Citigroup Incorporated)
• Original Assignee: Citicorp Development Center Incorporated (Citigroup Incorporated)
• Inventors: RIZZO, Carol J., HSU, Phoebe Rin-Rin, SEARS, Michael L.
• Granted Patent: US 8,364,589 B2
• Time in Patent Office: Days
• US Class Current: 705/43
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/305 using wired telephone networks
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A method and system for performing a cash transaction with a self-service financial transaction terminal makes use of computer hardware and software that allows a financial institution cardholder to authorize a recipient to withdraw a specified amount of cash at an ATM of the particular financial institution. The cardholder can set up the transaction, for example, from any telephone using an interactive voice response (IVR) system, or by utilizing the application at a financial institution ATM, or by using an Internet website application. The originator can set up the recipient'"'"'s ATM transaction to be either cardless or card-initiated.

Claims

1. A method for transferring cash from a source account of an originator to a financial institution escrow account for dispensing to a recipient at a self-service financial transaction terminal, comprising:

receiving, using a financial institution interactive voice response computer having a processor and memory, via a telephonic device, a selection from the originator of an option to transfer cash from a source account of the originator to a financial institution escrow account for dispensing to the recipient at any of a plurality of self-service financial transaction terminals and identification information for the recipient, wherein the recipient identification information comprises an alphabetic, numeric, or alphanumeric cardless identifier associated with a transaction card of the recipient;

furnishing, using the financial institution interactive voice response computer via the telephonic device, a unique authentication code associated with the recipient identification information to the originator, said recipient identification information and associated unique authentication code serving only to identify the recipient for dispensing of the cash in the financial institution escrow account to the recipient at any of the plurality of self-service financial transaction terminals without allowing the recipient access to any account of the originator;

receiving, using the financial institution interactive voice response computer via the telephonic device, a designation from the originator of the source account of the originator and an amount of cash to be transferred from the source account of the originator to the financial institution escrow account for dispensing to the recipient at any of the plurality of self-service financial transaction terminals;

receiving, using the financial institution interactive voice response computer via the telephonic device, a specification from the originator of at least one predefined condition for dispensing of the cash in the financial institution escrow account to the recipient at any of the plurality of self-service financial transaction terminals;

receiving, using the financial institution interactive voice response computer via the telephonic device, a selection from the originator of an option to receive notification when the designated amount of cash in the financial institution escrow account is dispensed to the recipient at any of the plurality of self-service financial transaction terminals;

transferring, using a financial institution back office computer having a processor and memory, the designated amount of cash from the source account of the originator to the financial institution escrow account for dispensing to the recipient at any of the plurality of self-service financial transaction terminals;

receiving, using the financial institution back office computer, at one of the plurality of self-service financial transaction terminals, entry by the recipient of the recipient identification information and the associated unique authentication code;

dispensing, using the financial institution back office computer, at said one of the plurality of self-service financial transaction terminals, according to the at least one predefined condition, to the recipient an amount of cash specified by the recipient up to the designated amount of cash from the financial institution escrow account; and

notifying, using the financial institution interactive voice response computer, via the telephonic device, the originator of dispensing to the recipient of the specified the amount of cash specified by the recipient from the financial institution escrow account.

2. A method for transferring money from a source account of an originator to a financial institution escrow account for dispensing cash to a recipient at a self-service financial transaction terminal, comprising:

receiving, by a computer of a financial institution, a selection from the originator of an option to transfer funds to a financial institution escrow account for dispensing to the recipient at any of a plurality of self-service financial transaction terminals;

receiving, by the computer of the financial institution and from the originator, a designation of a source account and an amount of funds to be transferred from the source account to the financial institution escrow account;

receiving, by the computer of the financial institution and from the originator, identification information for the recipient that identifies the recipient;

providing, by the computer of the financial institution and to the originator, a code associated with the recipient and for use by the recipient for dispensing cash at the self-service financial transaction terminal from the financial institution escrow account;

receiving, by the computer of the financial institution, a selection by the recipient at a self-service financial transaction terminal to dispense funds designated by the originator; and

transferring, by the computer of the financial institution, the funds from the source account to the financial institution escrow account upon receiving the selection from the originator to dispense funds.

3. The method according to claim 2, further comprising receiving, by the computer of the financial institution, a selection from the originator to notify the originator when funds are transferred from the source account to the financial institution escrow account.

4. The method according to claim 3, further comprising sending, by the computer of the financial institution, a notification to the originator when the funds are transferred from the source account to the financial institution escrow account.

5. The method according to claim 2, further comprising receiving, by the computer of the financial institution, entry by the recipient of the identification information and the code.

6. The method according to claim 2, further comprising dispensing cash at the self-service financial transaction terminal from the financial institution escrow account.

7. The method according to claim 6, further comprising notifying, by the computer of the financial institution, a notification that cash was dispensed to the recipient from the funds in the financial institution escrow account.

8. The method according to claim 2, wherein the identification information comprises an alphabetic, numeric, or alphanumeric cardless identifier.

9. The method according to claim 2, wherein the identification information is associated with a transaction card of the recipient.

10. The method according to claim 2, wherein the computer of the financial institution comprises an interactive voice response computer.

11. The method according to claim 2, further comprising receiving, by the computer of the financial institution, the selection to transfer funds by the originator via a website.

12. The method according to claim 2, further comprising receiving, by the computer of the financial institution, a selection of an end date wherein the money is no longer available to the recipient after the end date.

13. The method according to claim 2, further comprising receiving, by the computer of the financial institution, information read from a transaction card of the recipient at the self-service financial transaction terminal, and

authenticating, by the computer of the financial institution, the recipient using the information read from the transaction card.

14. The method according to claim 7, wherein notifying comprises providing to the originator a date and a location of the self-service financial transaction terminal where the recipient withdrew the cash.

15. The method according to claim 2, further comprising providing, by the computer of the financial institution, an option to the originator to select identification information of the recipient based upon a cardless identifier or a transaction card of the recipient.

16. The method according to claim 2, further comprising confirming the identification information before providing the code.

17. The method according to claim 2, further comprising allowing withdrawal by the recipient of only a portion of the money designated by the originator.

18. The method according to claim 3, wherein notifying the originator comprises a notification to a telephone of the originator or an e-mail to the originator.

19. The method according to claim 2, further comprising receiving, by the computer of the financial institution, a designation of an enabling event by the originator, wherein the funds are not available to the recipient until the occurrence of the enabling event.