Facilitating multi-transaction currency handling processes

• US 7,954,699 B1
• Filed: 07/31/2008
• Issued: 06/07/2011
• Est. Priority Date: 07/31/2008
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Folk, Amy Baker, Sanders, William Thomas, Bohen, Daniel Christopher
• Primary Examiner(s): Hess; Daniel A
• Assistant Examiner(s): SHARIFZADA, ALI R
• Application Number:
  US12/183,727
• Time in Patent Office: 1,041 Days
• Field of Search: 235/375, 235/379, 235/380, 235/383, 705/1.1, 705/39, 705/43, 413/75, 413/79, 413/80, 413/83
• 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: G07D 11/0096 Accepting paper currency or other valuables in containers, e.g. in code-marked envelopes
• CPC Class Codes: G07D 11/24 Managing the stock of valuable papers
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

A transaction such as a withdrawal or deposit may be divided into multiple smaller transactions based on an amount of currency associated with the transaction. For example, in a withdrawal, a container in which withdrawn funds are to be placed may be of limited size. Thus, multiple containers may be needed to withdraw the requested funds. Accordingly, each container may be assigned or associated with a different transaction. Each transaction may be created automatically, for example, upon completion of a previous transaction. Additionally, a number of transactions needed may be determined automatically. Thus, a user might only need to initiate the overall transaction process. Initiation may be based on manual input or triggered using an identification device such as an RFID tag, iris scan, card swipe and the like.

Claims

1. A method comprising:

receiving, by a cash handling device, a container type code; and

determining a size of a currency receiving and storage container using the container type code;

dispensing a first portion of funds to be withdrawn by the cash handling device as a first transaction into a currency receiving and storage container of the determined size;

automatically generating, by the cash handling device, a first transaction identifier for the dispensed first portion of funds upon completion of the first transaction and assigning the first transaction identifier to the first transaction;

in response to completion of the first transaction, automatically creating, by the cash handling device, a second transaction different from the first transaction, the second transaction including dispensing a second portion of the funds to be withdrawn; and

automatically generating, by the cash handling device, a second transaction identifier for the dispensed second portion of the funds upon completion of the second transaction and assigning the second transaction identifier to the second transaction.

2. The method of claim 1, wherein dispensing the first portion of funds to be withdrawn includes determining a size of the first portion based on a size of the currency receiving and storage container.

3. The method of claim 1, wherein automatically generating the first transaction identifier further includes automatically generating, by the cash handling device, an identifier tag storing the first transaction identifier and a container identifier of the currency receiving and storage container receiving the dispensed first portion of funds.

4. The method of claim 1, further comprising determining a number of transactions to automatically create for the funds to be withdrawn based on the determined size of the currency receiving and storage container.

5. The method of claim 1, further comprising:

electronically linking, by the cash handling device, the first transaction with the second transaction; and

transmitting the first and second transaction identifiers to a financial institution to which the dispensed first and second portions of the funds to be withdrawn are to be delivered.

6. The method of claim 1, wherein the first portion of the funds to be withdrawn is dispensed in response to a command to reduce a currency level to a predefined target level, wherein the predefined target level is greater than 0.

7. A method comprising:

receiving a request to dispense funds from a cash handling device;

determining, by the cash handling device, a number of transactions needed to dispense the funds and an amount of funds to dispense in a first transaction based on a size of a currency storage container into which the funds are to be dispensed;

automatically creating, by the cash handling device, the first transaction corresponding to dispensing a first portion of the funds from the cash handling device, wherein the first portion includes the determined amount of funds to dispense in the first transaction;

conducting the first transaction; and

automatically creating, by the cash handling device, upon completion of the first transaction, a second transaction corresponding to dispensing a second portion of the funds, different from the first portion, from the cash handling device, wherein the first transaction is assigned a first transaction identifier and the second transaction is assigned a second transaction identifier.

8. The method of claim 7, wherein the cash handling device includes a currency recycler.

9. The method of claim 7, further including transmitting the first and second transaction identifiers to a financial institution to which the dispensed first and second portions of the funds are to be delivered.

10. The method of claim 7, wherein conducting the first transaction includes dispensing the first portion of the funds from the cash handling device into the currency storage container.

11. The method of claim 7, further comprising receiving user input corresponding to a command to initiate the first transaction, wherein the first transaction is conducted in response to the command.

12. The method of claim 7, further comprising generating the first transaction identifier corresponding to the first transaction and the second transaction identifier corresponding to the second transaction.

13. An apparatus comprising:

a processor; and

memory storing computer readable instructions that, when executed, cause the processor to;

receive a request to dispense funds from the apparatus;

determine a number of transactions needed to dispense the funds and an amount of funds to dispense in a first transaction based on a size of a currency storage container into which the funds are to be dispensed;

automatically create the first transaction corresponding to dispensing a first portion of the funds from the apparatus, wherein the first portion includes the determined amount of funds to dispense in the first transaction;

conduct the first transaction; and

automatically create, upon completion of the first transaction, a second transaction corresponding to dispensing a second portion of the funds, different from the first portion, from the apparatus, wherein the first transaction is assigned a first transaction identifier and the second transaction is assigned a second transaction identifier.

14. The apparatus of claim 13, wherein the apparatus includes a currency recycler.

15. The apparatus of claim 13, further comprising computer readable instructions that, when executed, cause the processor to transmit the first and second transaction identifiers to a financial institution to which the dispensed first and second portions of the funds are to be delivered.

16. The apparatus of claim 13, wherein conducting the first transaction includes dispensing the first portion of the funds from the cash handling device into the currency storage container.

17. The apparatus of claim 13, further comprising computer readable instructions that, when executed, cause the processor to receive user input corresponding to a command to initiate the first transaction, wherein the first transaction is conducted in response to the command.

18. The apparatus of claim 13, further comprising computer readable instructions that, when executed, cause the processor to generate the first transaction identifier corresponding to the first transaction and the second transaction identifier corresponding to the second transaction.

19. The apparatus of claim 13, wherein the request to dispense funds includes a request to lower an amount of currency to a predefined level, wherein the predefined target level is greater than 0.

20. One or more non-transitory computer readable media storing computer readable instructions that, when executed, cause an apparatus to:

receive a request to dispense funds from the apparatus;

determine a number of transactions needed to dispense the funds and an amount of funds to dispense in a first transaction based on a size of a currency storage container into which the funds are to be dispensed;

automatically create the first transaction corresponding to dispensing a first portion of the funds from the apparatus, wherein the first portion includes the determined amount of funds to dispense in the first transaction;

conduct the first transaction; and

automatically create, upon completion of the first transaction, a second transaction corresponding to dispensing a second portion of the funds, different from the first portion, from the apparatus, wherein the first transaction is assigned a first transaction identifier and the second transaction is assigned a second transaction identifier.