Automatic settlement of user account with creditor from transaction kiosk
First Claim
Patent Images
1. A method of allocating moneys owned and controlled by a bank, the method comprising:
- validating a first amount of a cash deposit by a user at a remote transaction location using a processor, wherein the remote transaction location comprises a kiosk;
physically securing the cash deposit at the transaction location, wherein physically securing further comprises holding the cash deposit within a vault in the kiosk; and
transmitting data including the first amount from the remote transaction location to the bank to update a record of a second amount of cash available to the bank to satisfy depositor claims by including the first amount of the cash deposit physically secured at the remote transaction location within the second amount;
wherein the ownership of the vault and the cash deposit therein are separated from the ownership of other physical assets of the kiosk, and the vault and the cash deposit therein are owned by the bank.
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Abstract
A transaction kiosk collects cash from a user and then electronically negotiates with the user'"'"'s creditor to settle a balance on an account with the creditor. The bank recognizes the cash deposited in the transaction kiosk by the user as security for the settlement amount. The cash deposited in the transaction kiosk is considered a cash asset owned by the bank and available to satisfy depositor claims. A transaction processor brokers the transaction between the user of the transaction kiosk, the surety bank, and the creditor.
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Citations
23 Claims
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1. A method of allocating moneys owned and controlled by a bank, the method comprising:
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validating a first amount of a cash deposit by a user at a remote transaction location using a processor, wherein the remote transaction location comprises a kiosk; physically securing the cash deposit at the transaction location, wherein physically securing further comprises holding the cash deposit within a vault in the kiosk; and transmitting data including the first amount from the remote transaction location to the bank to update a record of a second amount of cash available to the bank to satisfy depositor claims by including the first amount of the cash deposit physically secured at the remote transaction location within the second amount; wherein the ownership of the vault and the cash deposit therein are separated from the ownership of other physical assets of the kiosk, and the vault and the cash deposit therein are owned by the bank. - View Dependent Claims (2, 3)
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4. A method for settlement of an account of a debtor with a creditor by a bank on behalf of the debtor, the method comprising:
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validating a first amount of a cash deposit by the debtor at a transaction location using a processor wherein the transaction location comprises a kiosk; physically securing the cash deposit in a vault within the kiosk, wherein the ownership of the vault and the cash deposit therein are separated from the ownership of other physical assets of the kiosk, and the vault and the cash deposit therein are owned by the bank; transmitting data including the first amount from the transaction location to the bank to update a record of a second amount of cash available to the bank to satisfy depositor claims by including the first amount of the cash deposit physically secured at the transaction location within the second amount; and transmitting a confirmation from the transaction location to the creditor in settlement of the account of the debtor with the creditor by the bank on behalf of the debtor, wherein the settlement is secured by the validated first amount of the cash deposit while the deposit is physically secured at the transaction location. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of allocating moneys owned and controlled by a bank, the method comprising
receiving data at the bank from a transaction location via a network, the data including a first amount of a cash deposit by a user validated and physically secured at the transaction location, wherein the transaction location comprises a kiosk having a vault and wherein the ownership of the vault and the cash deposit therein are separated from the ownership of other physical assets of the kiosk, and the vault and the cash deposit therein are owned by the bank; - and
updating a record of a second amount of cash available to the bank using a processor to satisfy depositor claims by including the first amount of the cash deposit physically secured at the remote transaction location within the second amount. - View Dependent Claims (14, 15, 16, 17)
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18. A method for settlement of an account of a debtor with a creditor by a bank on behalf of the debtor, the method comprising
receiving a first set of data from a transaction location via a network, the first set of data including a first amount of a cash deposit by the debtor validated and physically secured at the transaction location, wherein the transaction location comprises a kiosk having a vault and wherein the ownership of the vault and the cash deposit therein are separated from the ownership of other physical assets of the kiosk, and the vault and the cash deposit therein are owned by the bank; - and
transmitting data including the first amount to the bank via the network using a processor to update a record of a second amount of cash available to the bank to satisfy depositor claims by including the first amount of the cash deposit physically secured at the transaction location within the second amount. - View Dependent Claims (19, 20, 21, 22, 23)
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Specification