Off-line cash dispenser and banking system

• US 3,941,977 A
• Filed: 07/29/1974
• Issued: 03/02/1976
• Est. Priority Date: 09/01/1972
• Status: Expired due to Term

• Current Assignee: The Mosler Safe Company
• Original Assignee: The Mosler Safe Company
• Inventors: Voss, Robert H., Spetz, William L., Ward, Earl M.
• Primary Examiner(s): Cook, Daryl W.
• Application Number:
  US05/492,480
• Time in Patent Office: 582 Days
• Field of Search: 235/61.7 B, 235/61.7 R, 235/61.8 A, 340/149 A, 340/149 R
• US Class Current: 235/379
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/207 Surveillance aspects at ATMs

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 comprising:

a card reader for reading information from a coded card;

the encoded information on the card including;

a. information relating to the duration of a usage interval; and

b. information relating to a specified date bearing a predetermined relationship to said usage interval;

means for performing a specified banking transaction when the current date bears a first predetermined relationship to said specified date information and for denying said specified banking transaction when the current date bears a second predetermined relationship to said specified date information; and

means for revising said specified date information encoded on said card by an amount at least equal to said usage interval incident to performing said specified banking transaction.

2. The system of claim 1 further including a plurality of encoded cards, and wherein the usage interval information on a first group of said cards is different from the usage interval information on a second group of said cards, and wherein said revising means revises said specified date information of said first and second card groups in accordance with said different usage interval information encoded upon said cards of said first and second card groups, respectively.

3. The system of claim 1 wherein said information on the card further includes information relating to a credit limit, and wherein said bank transaction means performs said specified bank transaction in an amount not exceeding said credit limit when said current date bears said first predetermined relationship to said specified date information.

4. The system of claim 3 further including means to revise said credit limit to reflect the amount of said performed bank transaction.

5. The 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 duration of a usage interval, and

b. information relating to a specified date bearing a predetermined relationship to said usage interval;

performing a specified banking transaction when the current date bears a first predetermined relationship to said specified date information and denying said specified banking transaction when the current date bears a second predetermined relationship to said specified date information; and

revising said specified date information encoded on said card by an amount at least equal to said usage interval incident to performing said specified banking transaction.

6. The method of claim 5 wherein the information on said card further includes information relating to a credit limit, and said method further includes performing said specified banking transaction in an amount not exceeding said credit limit when said current date bears said first predetermined relationship to said specified date information.

7. The method of claim 6 further including the step of revising said credit limit to reflect the amount of said performed bank transaction.