Electronic transfer of hard currency

• US 7,568,615 B2
• Filed: 12/02/2005
• Issued: 08/04/2009
• Est. Priority Date: 08/24/2005
• Status: Expired due to Fees

• Current Assignee: E-Cash Financial Incorporated
• Original Assignee: E-Cash Financial Incorporated
• Inventors: Corona, Hector, Metoyer, Joanne H., Corona, Diane, Bakopoulos, James
• Primary Examiner(s): Lee; Michael G
• Assistant Examiner(s): Haupt; Kristy A
• Application Number:
  US11/293,017
• Publication Number:
  US 20070045395A1
• Time in Patent Office: 1,341 Days
• Field of Search: 235/379, 705/35, 705/39, 705/43, 705/44
• 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 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

A method and system is described for person-to-person and person-to-entity cash-transfer via ATMs. Beneficially, at the system endpoints (cash in, cash out) the remitter and receiver can each interact with the system without requiring interactions with local operators and without having any pre-existing user accounts.

Claims

1. A method for facilitating cash transfer comprising:

(a) at a first automated teller machine (ATM),

(i) receiving an instruction to begin a cardless cash transaction, the first ATM being configured to interact with a remitter through one or more user input and output devices to facilitate the cardless cash transaction, wherein the first ATM is configured to facilitate the cardless cash transfer without the remitter having a pre-existing user account;

(ii) receiving a deposit of cash from the remitter, wherein at the first ATM, the remitter provides a payment schedule that includes a payment structure including a plurality of partial payouts of the cash deposit to be available at the receiver at specified dates;

(iii) providing a confirmation code to the remitter; and

(iv) sending an indicator to a network server including an indicia of the cash deposit and an indicia of the confirmation code;

(b) at the network server,

(i) creating a temporary cash account based on the cash deposit; and

(ii) revealing the temporary cash account to an interbank network;

(c) at a second ATM,

(i) receiving an instruction to begin a cardless cash receipt transaction, the second ATM being configured to interact with a receiver without the receiver having a pre-existing user account;

(ii) receiving an identifier including the confirmation code;

(iii) accessing the temporary cash account through the interbank network;

(iv) providing cash output to the receiver; and

(v) sending an indicator of the cash output to the interbank network.

2. The method of claim 1, further comprising upon receiving the deposit of cash from the remitter, the first ATM counting an amount of cash received.

3. The method of claim 1, wherein at the second ATM, the step of accessing the temporary cash account comprises:

sending an encrypted confirmation code to the interbank network; and

receiving an indication from the interbank network of the temporary cash account.

4. The method of claim 1 further comprising:

at the first ATM, receiving receiver identification information from the remitter, the receiver identification information including a location selected from the group consisting of a city, state, and a country where the receiver will receive the cash output.

5. The method of claim 1 further comprising at a central pool of operators, assisting the remitter and receiver by utilizing prompts on the ATMs.

6. The method of claim 5 wherein the user input and output devices of the first ATM include an ATM e-teller provided on an ATM screen, the e-teller being configured to provide a display selected from the group consisting of a live video display of one of the operators in the central pool of operators and a virtual avatar.

7. The method of claim 6, wherein both the first and second ATMs include e-teller functionality available as an option during user interactions.

8. The method of claim 1, wherein data inputs provided by the remitter at the first ATM are captured, encrypted, and stored for system integrity.

9. The method of claim 1, wherein the ATMs are automated for electronic fund transfer without requiring any of a credit card, smart card, debit card, or pre-paid card.

10. The method of claim 1, wherein the first ATM includes a digital imaging tool for creating an image of an identifier of the remitter to verify remitter information.

11. The method of claim 10, wherein the identifier is a device selected from the group consisting of a state identification, a credit card, a barcode receipt, a driver'"'"'s license I.D., a Domestic or Foreign Passport, a utility payment bill, a credit card bill, a mortgage payment bill, a rent contract, an insurance payment, a tax bill, a traffic violation ticket and any other bill that can verify the remitter information.

12. The method of claim 10 wherein the digital imaging tool is a camera for capturing a picture of the remitter, and further comprising transmitting the picture to the network server for storage.

13. The method of claim 1, the first ATM receiving an authorization from the remitter to allow the cash to be dispersed from any ATM or privately owned network.

14. The method of claim 1, wherein the user input and output devices of the first ATM include a voice input for providing an audible input.

15. The method of claim 14, wherein the voice input includes functionality for a live interactive conversation with an operator from a central pool of operators, and wherein the live interactive conversation may be conducted in one of a plurality of available languages.

16. The method of claim 1, wherein the second ATM providing a cash output to the receiver includes:

determining a local currency of the second ATM;

converting an amount to be distributed to the receiver to the local currency using an exchange rate; and

providing the cash output in the local currency.

17. The method of claim 1, wherein claim 1, wherein a database on the network server is configured to store the payment structure.

18. The method of claim 1 further comprising generating a notice to be delivered to the remitter after a first partial payment indicating an updated payment structure.

19. A system for facilitating a cash transfer, the system comprising:

a first automated teller machine (ATM) configured for interacting with a remitter through user inputs and user outputs, the first ATM including a cash receiver for receiving and counting a cash deposit from the remitter without requiring the remitter to have a pre-existing account and further including program code stored on a machine readable device for controlling (i) reception of a cash transfer instructions from the remitter and (ii) delivery of transfer confirmation to the remitter, wherein the first ATM is further configured to receive from the remitter a payment schedule that includes a payment structure including a plurality of partial payouts of the cash deposit to be available at a receiver at specified dates;

a first sewer communicatively coupled with the first ATM, the first server configured to create a temporary cash account based on receiving an indication of the cash deposition and the transfer confirmation from the first ATM;

a network communicatively coupled with the first server for providing access to a plurality of user end-points for receiving the cash transfer; and

a second ATM configured for interacting with the receiver through user inputs and user outputs, the second ATM configured to allow the receiver to obtain a cash output from the second ATM within parameters set by the cash transfer instructions from the remitter to the first ATM without requiring the receiver to have a pre-existing account, wherein the second ATM is configured to verify that the receiver is an intended receiver of the cash output.

20. The system of claim 19 further comprising:

a database accessible from the first ATM, the database being configured to store payee information for the remitter; and

an input interface on the first ATM for allowing the remitter to select a payee from the database, wherein at least a portion of the cash deposit is transferred to the payee.

21. The system of claim 19 wherein the user inputs and user outputs of the first ATM include inputs and outputs for allowing a live conversation with a centrally located human operator.

22. The system of claim 21 wherein the human operator can see the customer via a digital camera at the first ATM.

23. The system of claim 21 wherein the remitter can see a streaming video of the human operator on a screen of the first ATM.

24. The system of claim 19 wherein the user inputs and user outputs further comprise a scanning device for generating a remitter identification image for verification.