Assured-check computer-based bank credit disbursing system

• US 4,053,735 A
• Filed: 08/07/1975
• Issued: 10/11/1977
• Est. Priority Date: 08/07/1975
• Status: Expired due to Term

• Current Assignee: James N. Foudos
• Original Assignee: James N. Foudos
• Inventors: Foudos, James N.
• Primary Examiner(s): Kilgore, Robert M.
• Application Number:
  US05/602,769
• Time in Patent Office: 796 Days
• Field of Search: 235/61.9 R, 235/61.9 A, 235/156, 340/152, 340/172.5, 209/DIG. 16, 101/19
• US Class Current: 705/41
• CPC Class Codes: G06F 15/0233 with printing provisions
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• 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 20/4093 Monitoring of device authentication
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/128 Check-book balancing, updating or printing arrangements
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: H01H 35/30 Means for transmitting pressure to pressure-responsive operating part, e.g. by capsule and capillary tube

Abstract

An assured-check computer-based bank credit disbursing system in which a bank-located unit or fixed unit transfers user-expendable credits to a portable unit for disbursement in check form by a user carrying the portable unit. A transfer code unique to each account of the portable unit must be entered in the fixed unit to activate it and the portable unit for the transfer. The user-expendable credits can be obtained from the bank in two ways on presentations of the portable unit to the bank by the user, namely, by cash payment to the bank and by loan from the bank; these are respectively designated as "cash" and "credit" when transferred by the fixed unit to the portable unit. The portable unit keeps in separate accounts the expendable balances of "cash" and "credit". The checks issued by the portable unit designate to which account each check is drawn as the checks are successively printed by the portable unit on proper manipulation of the portable unit keyboard by the user. Proper manipulation of the portable unit keyboard includes the entering by the user of a disbursement code unique to the individual user to activate the portable unit; regardless of manipulation, the portable unit will not issue a check overdrawing either account but will indicate the resultant negative balance. A tamper proof case is supplied to prevent fraudulent alteration of the portable unit accounts.

Claims

1. A banking system for controlling the dispensing of data, representing amounts of guaranteed credits, usable in purchasing transactions and the like, comprising:

a fixed unit for retention under bank control in a bank, a portable unit for carriage by a user of banking services of said bank for use in making purchases;

connective means for transferring data, representing banking credit amounts, from the fixed unit to the portable unit to prepare the portable unit for use in making purchases, including means on the respective fixed unit and portable unit for uniquely associating the fixed unit with the portable unit as a prerequisite to said transfer of data, representing banking credit amounts, means in the portable unit for selectively limiting operation of the portable unit to a particular user, including;

means in the portable unit for demanding entry of a user-identifying disbursement code into the portable unit, means associated with said means for demanding for affording a predetermined number of opportunities at spaced times for correct entry of a said disbursement code, means having association with said means for affording for disabling the portable unit upon failure of a correct entry of a said disbursement code following said predetermined number of opportunities;

means in the portable unit for dispensing said data, representing banking credit amounts, from the portable unit upon correct entry of a said disbursement code, including means for imprinting amounts on check forms;

means having association with the dispensing means for preselecting data, representing banking credit amounts, to be dispensed in respective transactions;

means having association with the preselecting means for selectively designating data, representing banking credit amounts, dispensed as cash transactions or charge transactions;

including means for signalling requirement for predesignation of data, representing banking credit amounts, to be dispensed as cash transactions or charge transactions and means for preventing dispensing in excess of the banking credit amount balance represented by data in the portable unit, means for indicating data, representing banking credit amounts, involved in each transaction, and means for indicating data, representing banking credit balance, in the portable unit prior and subsequent to each said transaction.