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System and method for checkless cash advance settlement

  • US 8,025,216 B2
  • Filed: 11/11/2008
  • Issued: 09/27/2011
  • Est. Priority Date: 09/09/2004
  • Status: Active Grant
First Claim
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1. A method in a computer system for executing a checkless cash advance settlement at a gaming machine, comprising:

  • (a) initiating a point of sale cash advance transaction via the gaming machine with a credit or debit card,(b) authorizing the point of sale cash advance transaction;

    (c) providing customer identification and a credit or debit card to an attendant, wherein the customer identification contains personal information;

    (d) electronically capturing the customer identification containing personal information;

    (e) validating the customer identification and the credit/debit card presented to the attendant;

    (f) completing the transaction upon validation of the customer identification, including dispensing cash requested in the debit or credit point of sale cash advance transaction to a customer;

    (g) presenting a transaction receipt to the customer, wherein the transaction receipt is a non-negotiable instrument providing proof of cash dispersal;

    (h) obtaining a customer signature on the transaction receipt to confirm the point of sale cash advance transaction;

    (i) storing the transaction receipt, wherein the transaction receipt is scanned and stored electronically; and

    (j) recording information about the point of sale cash advance transaction, including recording an electronic image of the transaction receipt on a central server; and

    (k) generating an automated clearing house file containing all the point of sale cash advance transactions completed for a predetermined specified settlement period and electronically transmitting the automated clearing house file to a designated financial institution for processing and successive posting of deposits.

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