OFF-LINE CASH DISPENSER AND BANKING SYSTEM

• US 3,845,277 A
• Filed: 09/01/1972
• Issued: 10/29/1974
• Est. Priority Date: 09/01/1972
• Status: Expired due to Term

• Current Assignee: Earl M. Ward, Robert H. Voss, William L. Spetz
• Original Assignee: Earl M. Ward, Robert H. Voss, William L. Spetz
• Inventors: Spetz, William L., Voss, Robert H., Ward, Earl M.
• Primary Examiner(s): Cook, Daryl W.
• Application Number:
  US05/285,812
• Time in Patent Office: 788 Days
• Field of Search: 235/61.7B,61.7R 340/149A,149
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00
• CPC Class Codes: G07F 19/207 Surveillance aspects at ATMs
• CPC Class Codes: G07F 7/04 by paper currency

Abstract

A method and apparatus for automatically dispensing cash and performing other transactions relating to customer accounts. A magnetic card reader reads coded information into the system from a credit card which information identifies the account of the user. A keyboard entered code is compared with the card encoded information to verify that the account is that of an authorized user. The system includes a disc storage file which is checked for the account numbers of stolen cards and of accounts with respect to which transactions are to be restricted or otherwise modified. The file also includes a list of the images of cards read in the most recent past transactions and against these images the inserted card is checked for detection of duplicate cards. The system is capable of performing different types of transactions involving plural accounts of each user. A control code on each card enables the selection of only those machine functions which the user is authorized to select. Each card includes a renewable credit limit which is restorable after a given usage interval. The cards are encoded with the maximum amount of cash dispensible per given usage interval, the length of the usage interval, the next usage date, and the amount remaining during the current usage interval.

Claims

1. An automatic banking system for serving a plurality of users and comprising:

a device capable of accounting for different transactions involving a plurality of different accounts of a given one of said users, said transactions including debiting an account, crediting an account, and/or transferring funds between different accounts of said one user;

means for selecting different transactions involving different ones of said accounts of a given one of said users;

means for accepting from said one of said users information associated with said one user correlated to one or more of said transactions involving different accounts to which said one user is entitled, said information accepting means including a card reader for reading said information from a coded card; and

means for enabling said selecting means to effect transactions involving different accounts selected by said user in accordance with said user associated information.

2. The system of claim 1 wherein:

said cards are encoded with information representing the different accounts of said given user and with information representing the status of at least one of said different accounts; and

said system further comprises means for updating said status information in accordance with the performed transactions.

3. The system of claim 2 further comprising:

means for selecting the dollar amount of said selected transaction;

said card status information including encoded information indicating a transaction amount limit permitted in a given usage interval; and

means for limiting the amount of said transactIons to the amount limit encoded on said card.

4. The system of claim 3 further comprising:

means for revising said permitted amount limit information in accordance with the amount of the selected transaction.

5. The system of claim 4 further comprising:

means for resetting said permitted amount limit information on said card to correlate to a maximum permitted value when said given usage interval has expired.

6. The system of claim 1 wherein:

said cards are encoded with information relating to the identification of an authorized user, said system includes manual code entry means; and

the operation of said system is conditioned on the results of a comparison between the information from said card and said code entry means.

7. The system of claim 1 further comprising:

a memory unit containing a plurality of segments each containing information relating to the accounts of certain users;

means for comparing said information accepted with that contained in said segments;

means for modifying the operation of said system when the results of said comparison indicate that said information relates to that of one of said certain users, and means for revising said cards of said certain users in accordance with information stored in said memory.

8. The system of claim 1 further comprising:

a memory unit containing a plurality of segments each containing information relating to the accounts of certain users;

means for comparing said information accepted with that contained in said segments;

means for modifying the operation of said system when the results of said comparison indicate that said information relates to that of one of said certain users, and means for capturing said card of said certain users.

9. The system of claim 1 further comprising a duplicate card detector including means for storing in said memory the images of a predetermined number of the cards last used in said system, means for comparing a presented card with said stored images to detect a duplicate card, and means for altering the operation of said accounting device in response to detection of said duplicate card.

10. A cash dispensing system comprising:

a card reader;

a plurality of cards encoded with a. information corresponding to the maximum transactional amount permitted to be dispensed during a given usage interval;

b. information representing the length of said given usage interval;

c. information representing the next permitted usage date; and

d. information representing the current transaction amount limit of the current usage interval; and

said system further comprising a. a cash dispenser;

b. means for enabling said cash dispenser to dispense cash only when the current date is at least equal to said next usage date read from said card;

c. means dispensing a selected amount of cash up to said current transaction limit;

d. means for revising said current transaction limit by subtracting therefrom the amount of cash dispensed, and e. means for revising said next permitted usage date by adding thereto at least said usage interval and for replacing said current transaction limit with said maximum transactional amount when said limit equals zero as a result of said transaction.

11. An automatic banking system for serving a plurality of users comprising a card reader for reading information from a coded card;

a cash dispenser;

means for operating said cash dispenser to perform a cash dispensing transaction in association with the reading of said card;

means for changing the data encoded on said card upon the execution of said transaction;

a memory for storing the information read from said card during said cash transaction;

means for searching said memory, after the reading of a card and prior to the execution of said transaction, and for disabling said operating means upon the finding of a correspondence Between the data read from the card and that stored in said memory.

12. The system of claim 11 wherein:

said memory is operative to store the information read from cards during a predetermined number of transactions immediately preceding the current transaction.

13. An automatic banking system for serving a plurality of users comprising:

a card reader for reading user identifying information and account information from a coded card;

a memory having stored therein information identifying a plurality of users and in association with said user identifying information additional information indicating that said account information on cards is to be revised in accordance with said additional information stored in said memory; and

said system includes means for storing the information on the card read in accordance with the additional information in said memory existing at the time said card was read, when the account identifying information read from said card corresponds to information in said memory identifying an account with respect to which the additional information associated therewith is to be revised.

14. An automatic banking system for serving a plurality of users comprising:

a card reader for reading information from a coded card;

means for performing a banking transaction in accordance with a selected amount, which amount is limited by the information read from said card;

the information encoded on said card including;

a. information relating to the maximum transactional amount permitted during a given usage interval, b. information relating to the permitted amount remaining during the current usage interval, and c. information relating to the commencement date of said current usage interval; and

means for revising the information on said card to increase said remaining amount toward said maximum amount while altering said commencement date.

15. The system of claim 14 wherein:

the information on said card further comprises information relating to the length of said usage interval, and said commencement date represents the next permitted usage date; and

said revising means is operative to alter said next permitted usage date to at least equal the current usage date plus said usage interval.

16. The system of claim 15 wherein:

said transaction performing means includes a cash dispenser operative to dispense cash in accordance with said selected amount;

said system further comprises means for further revising said remaining amount information by subtracting therefrom the selected amount of said transaction; and

said first recited revising means being operative when said remaining amount equals zero.

17. The system of claim 14 further comprising:

means deriving an effective commencement date equal to the current calendar date and an effective amount remaining equal to said maximum amount when said commencement date read from said card is more than the given usage interval before the current calendar date.

18. A method for accounting for transactions involving a plurality of different accounts of a given one of a plurality of users, said transactions including debiting, crediting, and/or transferring funds between different accounts of said user, comprising the steps of:

accepting information from one of said users associated with said one of said users correlated to one or more of said transactions involving different accounts to which said one user is entitled, said information accepting step including reading a card coded with information representing the accounts of said one user and the status of at least one of said accounts;

enabling selecting means to permit selection of transactions by said one user involving different accounts in accordance with the information accepted from said one user;

activating said enabled selecting means to effect transactions involving different ones of said accounts of said one user; and

updating the statUs of at least one of said one user'"'"''"'"'s accounts to reflect said effected transaction.

19. The method of claim 18 wherein:

said encoded status information on said card includes information indicating a transaction amount limit permitted in a given usage interval; and

said method further includes selected the dollar amount of said selected transaction and performing said transaction in an amount not greater than said permitted amount limit encoded on said card.

20. The method of claim 19 further comprising the step of:

revising said permitted amount limit information on said card in accordance with the selected amount of the selected transaction.

21. The method of claim 20 further comprising the step of:

resetting said permitted amount limit information on said card to a maximum permitted value when said given usage interval has expired.

22. The method of claim 18 wherein:

said status information encoded on said cards includes a. information corresponding to the maximum transactional amount permitted during a given usage interval;

b. information representing the length of said given usage interval;

c. information representing the next permitted usage date; and

d. information representing the transactional amount limit of the current usage interval; and

said method further comprises the steps of;

a. dispensing a selected amount of cash up to said transaction limit, but only when the current calendar date is at least equal to said next usage date encoded on said card;

b. revising said transaction limit on said card by subtracting therefrom the amount of cash dispensed; and

c. revising said next permitted usage date on said card by adding thereto at least said usage interval and replacing said transaction limit on said card with said maximum transactional amount when said limit equals zero as a result of said transaction.

23. The method of claim 18 wherein:

said cards are encoded with information relating to the identification of an authorized user, said method further includes the step of manually generating a user code, comparing information from said card with said manually generated code, and conditioning the execution of a transaction on the results of said comparison.

24. A method of claim 18 further comprising the steps of:

searching a memory unit containing a plurality of segments each containing information relating to the accounts of certain users to retrieve said information therefrom;

comparing said information accepted with that retrieved from said segments;

modifying the execution of said transaction when the results of said comparison indicate that said accepted information relates to that of one of said certain users.

25. The method of claim 24 wherein:

said information accepting step includes the reading of information from a coded card; and

said method further comprises the step of revising said cards of said certain users in accordance with information stored in said memory.

26. The method of claim 24 wherein:

said information accepting step includes the reading of information from a coded card; and

said method further comprises the step of capturing said card of said certain users.

27. A method for performing banking transactions of a plurality of users comprising the steps of:

reading information from a coded card;

searching a memory in which information read from cards during previous cash transactions are stored;

performing a cash dispensing transaction but only when the information read from said card and that stored in said memory do not compare; and

changing the data encoded on said card upon the execution of said transaction.

28. A method for performing banking transactions of a plurality of users comprising the steps of:

reading a card having user identifying information and account information encoded thereon;

searching a memory in accordance with the reading of Said card, said memory having stored therein information identifying a plurality of users and in association with said user identifying information additional information relating to some of said plurality of accounts, which additional information indicates that information on cards relating to said accounts is to be revised in accordance with information stored in said memory; and

said method further includes the step of revising the information on the card read in accordance with the additional information on said memory, when the user-identifying information read from said card corresponds to information in said memory identifying a user with respect to which the account information associated therewith is to be revised.

29. A method for performing banking transactions of a plurality of users comprising the steps of reading information from a coded card, which information includes:

a. information relating to the maximum transactional amount permitted during a given usage interval, b. information relating to the permitted amount remaining during the current usage interval, and c. information relating to the commencement date of said current usage interval;

performing a banking transaction in accordance with a selected amount, which amount is limited by the information read from said card; and

revising the information on said card to increase said remaining amount information encoded thereon toward said maximum amount while altering said commencement date encoded on said card.

30. The method of claim 29 wherein:

the information on said card further comprises information relating to the length of said usage interval, and said commencement date represents the next permitted usage date; and

said method further includes the step of revising said next permitted usage date on said card to equal at least the original usage date thereon plus said usage interval.

31. The method of claim 30 wherein:

said transaction performing step includes the step of dispensing cash in accordance with said selected amount;

said method further comprises the step of revising said remaining amount information by subtracting therefrom the selected amount of said transaction; and

said first-recited revising step is performed when said remaining amount equals zero.

32. The method of claim 30 further comprising the step of:

deriving an effective commencment date equal to the current calendar date and an effective amount remaining equal to said maximum amount when said commencement date read from said card represents a date which is more than the given usage interval before the current calendar date.

33. An automatic banking system for serving a plurality of users each having a card with an account number thereon, a device capable of accounting for transactions involving a plurality of accounts of a given one of said users, means for selecting different transactions involving different ones of said accounts, a card reader for reading said account number from the card of said one of said users, a memory accessible in response to reading said account number containing information relating to the different account transactions permissible to said one user, and means responsive to said information provided by said memory for enabling said selecting means to effect said selected account transactions in accordance with said information.

34. An automatic banking system comprising:

a plurality of user cards encoded with an account number unique to each user and at least one control code correlated to at least one account of said user with respect to which transactions are permissible to said user, said control codes being common to different users;

a device capable of accounting for transactions involving a plurality of different accounts of a given one of said users, said transactions including debiting, crediting and/or transferring funds between different accounts of said one user;

means operable by said one user for selecting different transactions involving different ones of said accounts of said one user;

a card reader for reading said account number and said control code from said card of said one user; and

means for enabling said selecting means to effect said selected account transactions in dependence upon the control code read from said card of said one user.

35. An automatic banking system comprising:

a plurality of user cards encoded with an account number unique to each user and at least one control code correlated to at least one account of a plurality of different types of accounts to which a single user may be permitted usage, a device capable of accounting for transactions involving said plurality of different accounts to which a single user may be permitted usage, means operable by said one user for selecting transactions involving different ones of said accounts to which a single user may be permitted usage, a card reader for reading said account number and said control code from said card of said one user, said reading of said control code of said one user reflecting said at least one account of said one user for which usage is permitted, and means for enabling said selecting means to effect said selected account transactions in dependence upon the control code read from said card of said one user.

36. Apparatus for performing banking transactions of a plurality of users comprising:

a plurality of user cards, each encoded with user-identifying information unique to each user and account information correlated to transactions to which said user is permitted, a reader for reading said user identifying information encoded on said cards, a memory having stored therein information identifying a plurality of users and, in association with said user-identifying information, additional information indicating that said account information encoded on the cards of said plurality of users is to be revised in accordance with said additional information stored in said memory; and

means for revising the account information on a card which has been read in accordance with said additional information in said memory, when the user identifying information read from said card corresponds to information in said memory identifying a user with respect to which the account information associated therewith is to be revised.

37. The apparatus of claim 36 further comprising:

a device capable of accounting for different types of transactions to which a single user may be permitted usage, means operable by said one user for selecting transactions to which a single user may be permitted usage, and means for enabling said selecting means to effect said selected transactions in dependence on the control code read from said card of said one user.

38. An automatic banking system comprising:

a plurality of user cards encoded with an account number unique to each user and at least one control code correlated to at least one type of fund transfer between different accounts which a single user may be permitted to make, said control codes being common to different users;

a device capable of accounting for transactions involving a plurality of different types of inter-account fund transfers;

means operable by said one user for selecting different types of inter-account fund transfers;

a card reader for reading said account number and said control code from said card of said one user; and

means for enabling said selecting means to effect said selected account transaction in dependence upon the control code read from said card of said one user.

39. The system of claim 14 wherein said commencement date information includes data relating to the length of said usage interval and data relating to a specified date included within said current usage interval, and wherein said revising means is operative to alter said specified date by an amount at least equal to said usAge interval.

40. The system of claim 39 wherein said revising means alters said specified date when said information related to the permitted amount remaining has reached a predetermined value.