Method for holding and dispensing cash upon demand at a remote location

• US 5,663,546 A
• Filed: 08/18/1995
• Issued: 09/02/1997
• Est. Priority Date: 08/18/1995
• Status: Expired due to Term

• Current Assignee: Stradacom LLC
• Original Assignee: USA Processing Inc. (Evolution Payroll Processing LLC)
• Inventors: Maskatiya, Karim, Cucinotta, Robert P.
• Primary Examiner(s): Hajec, Donald T.
• Assistant Examiner(s): FILIPEK, JEFFER
• Application Number:
  US08/516,714
• Time in Patent Office: 746 Days
• Field of Search: 235/379, 235/380, 235/381
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• 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

Abstract

Cash is given to a person confidentially and anonymously by first receiving an amount of cash from a person and, without identifying the person from whom the cash was received, or to whom it is to be paid out, the amount of cash is identified by a code such as the PAN code. The holder of the cash is part of a network including multiple card readers at remote transaction points, and the identifying code is encoded on a card. When the holder of the card desires a sum of cash not exceeding the amount of cash held by the cash holder, the card is inserted in the card reader at the transaction point, the authenticity of the card is verified, as with a PIN number, and the holder then sends a signal to the card reader at the transaction point authorizing the payout of the requested sum of cash. By identifying the amount of cash held by the holder with a code number; for example, on the basis of cash received from a person, and securing access to the cash by requiring a linking of the code number with an identification number, the amount of cash to be held can be received from and the requested sum of cash can be paid to the person in question without requiring any form of identification or pre-establishing an account, to thereby maintain confidentiality and anonymity not otherwise available when dealing with anything but cash.

Claims

1. A method of holding an amount of cash which can increase and decrease over time for an unidentified person, securing the cash, and supplying a sum of cash upon demand to the person at a remote transaction point without identifying the person and without establishing an account which can be identified as belonging to any person comprising the steps of:

receiving the amount of cash and holding it without identifying from whom the amount of cash was received and without identifying a person who may obtain the amount of cash;

keeping a record of the amount of cash being held;

issuing to the person a card free of information identifying the person and carrying a code identifying the amount of cash;

communicating to the person a PIN number for use with the card;

forming a communication link between a holder of the amount of cash and a multiplicity of at least one of ATMs and credit card reading terminals at least one of which is a machine located at the transaction point;

inserting the card in the machine, machine-reading the code, and sending the read code via the communication link to the holder;

transmitting the PIN number and a requested sum of cash to be supplied at the remote transaction point via the machine and the communication link to the holder;

comparing the amount of cash with the requested sum of cash;

forwarding an authorization signal to the machine if the sum of cash is less than the amount of cash and forwarding a refusal signal to the machine if the sum of cash exceeds the amount of cash;

supplying the person at the transaction point with the sum of cash upon receipt of the authorization signal; and

adjusting the record to reflect in the record a reduction in the amount of cash being held when the sum of cash is supplied to the person and an increase in the amount of cash being held when cash is added to the amount of cash being held;

whereby the amount of cash is received from and the sum of cash is dispensed to the carrier of the card without identifying the person and the card can be repeatedly used by periodically replenishing the amount of cash being held.

2. A method according to claim 1 wherein the step of reading comprises the step of inserting the card in an automated teller machine which forms part of a network of automated teller machines.

3. A method according to claim 1 wherein the step of reading comprises the step of inserting the card in a credit card reading terminal which forms part of a network of credit card reading terminals.

4. A method according to claim 1 including the step of increasing the amount of cash available for subsequently supplying it to the person by receiving additional cash from the person.

5. A method according to claim 1 including the step of subtracting the sum of cash from the amount of cash to thereby establish a new amount of cash which can subsequently be supplied to the person.

6. A method according to claim 1 wherein the steps of sending, transmitting, comparing and forwarding are performed in substantially real time.

7. A method of holding a variable amount of cash for an unidentified person without establishing an account which can be identified as belonging to any person, and supplying a sum of cash upon demand at a remote transaction point without identifying the person to whom the sum of cash is to be supplied, the method comprising the steps of:

receiving the amount of cash, holding it, and keeping a record of the amount of cash;

identifying the amount of cash with a code that does not identify the person;

issuing to the person a card carrying the code in machine readable form;

communicating to the person a PIN number for use with the card;

forming a communication link between a holder of the amount of cash and a multiplicity of card reading machines at least one of which is located at the transaction point;

inserting the card in the machine, with the machine reading the code, and sending the read code via the communication link to the holder;

providing the PIN number at the transaction point and transmitting it and a requested sum of cash to be supplied at the remote transaction point via the communication link to the holder;

comparing the amount of cash with the requested sum of cash;

forwarding an authorization signal to the machine if the sum of cash is less than the amount of cash and forwarding a refusal signal to the machine if the sum of cash exceeds the amount of cash;

supplying the person at the transaction point who carried the card and provided the PIN number with the sum of cash upon receipt of the authorization signal;

receiving an additional amount of cash; and

adjusting the record to reflect a reduction in the amount of cash being held when the sum of cash is supplied to the person and to reflect an increase in the amount of cash being held when the additional amount of cash is received;

whereby the amount of cash is received and the sum of cash is dispensed to the carrier of the card without identifying any person as part of any of the performed steps, the card can be repeatedly used by replenishing the amount of cash being held, and the variable, replenishable amount of cash is secured against withdrawals by unauthorized persons.