Currency transfer system and method

• US 5,326,960 A
• Filed: 11/25/1992
• Issued: 07/05/1994
• Est. Priority Date: 11/25/1992
• Status: Expired due to Term

• Current Assignee: First Data Corporation (Fiserv Incorporated), Western Union
• Original Assignee: David H Tannenbaum
• Inventors: Tannenbaum, David H.
• Primary Examiner(s): PITTS, HAROLD I
• Application Number:
  US07/981,813
• Time in Patent Office: 587 Days
• Field of Search: 902/40, 235/379, 235/380, 235/381, 235/382, 235/382.5
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/348 Single-use cards, i.e. without possibility of recharging
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/403 Solvency checks
• 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 19/211 Software architecture within ATMs or in relation to the ATM network

Abstract

There is disclosed a currency transfer system and method which utilizes the existing ATM network but which provides for the temporary assignment of a PIN number and the temporary establishment of a credit limit within an existing account. Using the system a customer can, by using a temporary PIN at an ATM machine, withdraw an amount equal to or less than the temporary credit limit. In one embodiment, a depositing customer can establish the temporary credit limit by the transfer of funds from an existing account and in another embodiment the depositing customer can purchase temporary ATM cards which have contained within them programmed credit limits which are then read into the system under an assigned temporary PIN number.

Claims

1. A system for currency management between a depositing user and a recipient user using an electronic funds retrieval system, said retrieval system having associated therewith a plurality of input devices for accepting user information, said management system comprising:

means for accepting from a depositing user at one of said input devices an amount of currency to be available for withdrawal;

means for creating a unique temporary identification number and for associating said unique identification number with said accepted available withdrawal amount; and

means for associating said unique identification number and said accepted available withdrawal amount with a particular account in said system accessible via any of said input devices associated with said system.

2. The system set forth in claim 1 further comprising:

means for accepting at any of said input devices from a withdrawing user at least a portion of said unique identification number and an amount to be withdrawn; and

means controlled in part by said accepted unique identification number from said withdrawing user for limiting the amount of currency that can be withdrawn from said particular account by said withdrawing user to an amount equal to or less than said associated accepted available withdrawal amount.

3. The system set forth in claim 1 wherein said particular account contains a plurality of said associations each having a different one of said unique identification numbers associated therewith, each said identification number having a specific available withdrawal amount associated therewith.

4. The system set forth in claim 1 wherein said depositing user accepting means includes:

means separate from said input device for storing in electronic readable format said available withdrawal amount; and

means within said input device for accepting said stored available withdrawal amount from said storing means.

5. The system set forth in claim 4 wherein the amount stored on said storing means is preknown to said retrieval system upon identification of said storing means.

6. The system set forth in claim 4 wherein said storing means includes:

means for modifying said electronic readable available transfer amount.

7. The system set forth in claim 4 further comprising:

means for linking a plurality of said storing means to create an available withdrawal amount equal to the sum of said linked storage means.

8. The system set forth in claim 4 wherein said amount stored in said storing means can be preassigned and wherein said preassigned value is communicated from said storing means to said retrieval system and can be different from time to time.

9. The system set forth in claim 1 wherein said unique temporary identification number creating means includes:

means for interactive communications between said retrieval system and said depositing user.

10. The system set forth in claim 1 where said depositor accepting means includes:

means from transferring a selectable amount from one account to another.

11. The system set forth in claim 1 further comprising means for controlling the duration that a particular unique withdrawal amount is available for withdrawal from a particular account.

12. The system set forth in claim 2 wherein said withdrawing user accepting means includes:

means separate from said input device for storing at least a portion of said unique identification number; and

means within said input device for accepting said unique identification number from said storing means.

13. The system set forth in claim 12 wherein said unique information storage means and said available withdrawal amount storage means are independent of each other with each containing different information.

25. The system set forth in claim 1 further comprising means controlled by said management system for communicating said unique temporary identification number to said depositing user.

26. The system set forth in claim 1 wherein said retrieval system is an ATM system and wherein said input devices are remotely located ATM machines.

27. The system set forth in claim 1 wherein said creating means is operating under control of a user at one of said input devices.

28. The system set forth in claim 1 wherein said particular account need not be an account identified with said depositor prior to the enabling of said associating means.

29. The system set forth in claim 28 wherein said associating means is a card containing the identification of said particular account, said card also containing said amount of currency to be transferred.

14. A method for currency management between a depositing user and a recipient user using an electronic funds retrieval system, said system having associated therewith a plurality of input devices for accepting user information, said method comprising:

accepting from a depositing user at one of said input devices an amount of currency to be available for withdrawal;

creating a unique temporary identification number and for associating said unique identification number with said accepted available withdrawal amount;

communicating said unique temporary identification number to said depositing number; and

associating said unique identification number and said accepted available withdrawal amount with a particular account in said system accessible via any of said input devices associated with said system.

15. The method set forth in claim 14 further comprising the steps of:

accepting at any of said input devices from a withdrawing user at least a portion of said unique identification number and an amount to be withdrawn; and

limiting in part by said accepted unique identification number from said withdrawing user, the amount of currency that can be withdrawn from said particular account by said withdrawing user to an amount equal to or less than said associated accepted available withdrawal amount.

16. The method set forth in claim 14 wherein said particular account contains a plurality of said associations each having a different one of said unique identification numbers associated therewith, each said identification number having a specific available withdrawal amount associated therewith.

17. The method set forth in claim 15 wherein said depositing user accepting step includes the steps of:

storing in a device separate from said input device and in electronic readable format said available withdrawal amount; and

accepting at said input device any said stored available withdrawal amounts.

18. The method set forth in claim 17 wherein said storing step includes the step of determining said stored amount by said retrieval system upon identification of said separate devices.

19. The system set forth in claim 17 wherein said storing step includes the step of:

modifying said electronic readable available transfer amount.

20. The method set forth in claim 17 further comprising the step of:

linking a plurality of amounts stored on said devices to create an available withdrawal amount equal to the sum of said linked storage amounts.

21. The method set forth in claim 17 wherein said amount stored in said device can be preassigned and wherein said preassigned value is communicated from said device to said retrieval system and can be different from time to time.

22. The method set forth in claim 14 wherein said unique temporary identification number creating steps includes the step of:

interactively communicating between said retrieval system and said depositing user.

23. The method set forth in claim 14 where said accepting step includes the step of:

transferring a selectable amount from one account to another.

24. The method set forth in claim 14 further comprising the step of:

controlling the duration that a particular unique withdrawal amount is available for withdrawal from a particular account.