Automatic generation of change orders

• US 8,812,366 B2
• Filed: 11/25/2008
• Issued: 08/19/2014
• Est. Priority Date: 09/30/2008
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Folk, Amy Baker, Johnson, Shane Anthony, Sanders, William Thomas, Bohen, Daniel Christopher
• Primary Examiner(s): Zeender, Ryan
• Assistant Examiner(s): ORTIZ ROMAN, DENISSE Y
• Application Number:
  US12/277,966
• Publication Number:
  US 20100082443A1
• Time in Patent Office: 2,093 Days
• Field of Search: None
• US Class Current: 705/16
• 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 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G07F 19/00 Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines data processing equipment for bank accounting G06Q40/02

Abstract

A method for automatically generating change orders may be performed at a point of sale system. The point of sale system may determine an amount of funds in the point of sale system and whether additional funds are necessary. If so, a change order may be automatically requested from a back office system (e.g., a cash recycler) or a financial institution. The back office system may determine whether it is able to fulfill the change order request and if not, forward the request to the financial institution. In one or more arrangements, a notification that a change order request has been received may be transmitted to a manager or other change order personnel. The change order request and funds delivered to the point of sale system in response thereto may be reconciled with the back office system.

Claims

1. A method comprising:

receiving, by a back office system, a change order request from a point of sale system, wherein the change order request includes a request to exchange an amount of currency of a first denomination stored at the point of sale system with an amount of currency of a second denomination, wherein the amount of the currency of the second denomination is not stored at the point of sale system;

determining, by the back office system, whether the back office system is able to fulfill the change order request including determining whether the amount of the currency of the second denomination is stored at the back office system;

in response to determining that the back office system is able to fulfill the change order request, preparing funds for delivery to the point of sale system in accordance with the change order request without requesting funds from a remotely located financial institution holding an account of an entity associated with the back office system, wherein the funds include the amount of the currency of the second denomination; and

in response to determining that the back office system is unable to fulfill the change order request, electronically forwarding, by the back office system, the change order request to the financial institution,

wherein the point of sale system and the back office system are located in a retail location different from a location of the financial institution, and

wherein preparing the funds for delivery includes transmitting a notification to a mobile device configured to be used by a manager of the retail location, the notification requesting approval of the change order request prior to the funds being dispensed by the back office system.

2. The method of claim 1, wherein the change order request is forwarded to the financial institution as part of a group of change order requests.

3. The method of claim 1, wherein the change order request is received through a data network connection.

4. The method of claim 1, wherein a value of the amount of currency of the second denomination is at least equal to the value of the amount of currency of the first denomination.

5. The method of claim 1, wherein determining whether the back office system is able to fulfill the change order request further includes determining that the back office system is unable to fulfill the change order request based on the change order request exceeding a predetermined amount that requires processing and fulfillment by the financial institution.

6. The method of claim 1, wherein determining whether the back office system is able to fulfill the change order request further includes determining that the back office system is unable to fulfill the change order request based on a current time of day, a current day, or a current period of year.

7. The method of claim 1, further comprising:

receiving, by the back office system, a reconciliation message from the point of sale system; and

sending, by the back office system, the reconciliation message to the mobile device configured to be used by the manager of the retail location.

8. An apparatus comprising:

a processor; and

memory operatively coupled to the processor and storing computer readable instructions that, when executed, cause the apparatus to;

receive, at a back office system, a change order request from a point of sale system, wherein the change order request includes a request to exchange an amount of currency of a first denomination stored at the point of sale system with an amount of currency of a second denomination, wherein the amount of the currency of the second denomination is not stored at the point of sale system;

determine whether the back office system is able to fulfill change order request by determining whether the amount of the currency of the second denomination is stored at the back office system;

in response to determining that the back office system is able to fulfill the change order request, prepare funds for delivery to the point of sale system in accordance with the change order request without requesting funds from a remotely located financial institution holding an account of an entity associated with the back office system, wherein the funds include the amount of the currency of the second denomination; and

in response to determining that the back office system is unable to fulfill the change order request, electronically transmit the change order request to the financial institution,

wherein the point of sale system and the back office system are located in a retail location different from a location of the financial institution, and

wherein preparing the funds for delivery includes transmitting a notification to a mobile device configured to be used by a manager of the retail location, the notification requesting approval of the change order request prior to the funds being dispensed by the back office system.

9. The apparatus of claim 8, wherein the change order request is forwarded to the financial institution as part of a group of change order requests.

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

receive, at a back office system, a change order request from a point of sale system, wherein the change order request includes a request to exchange an amount of currency of a first denomination stored at the point of sale system with an amount of currency of a second denomination, wherein the amount of the currency of the second denomination is not stored at the point of sale system;

determine whether the back office system is able to fulfill change order request by determining whether the amount of the currency of the second denomination is stored at the back office system;

in response to determining that the back office system is able to fulfill the change order request, prepare funds for delivery to the point of sale system in accordance with the change order request without requesting funds from a remotely located financial institution holding an account of an entity associated with the back office system, wherein the funds include the amount of the currency of the second denomination; and

in response to determining that the back office system is unable to fulfill the change order request, electronically transmit the change order request to the financial institution,

wherein the point of sale system and the back office system are located in a retail location different from a location of the financial institution, and

wherein preparing the funds for delivery includes transmitting a notification to a mobile device configured to be used by a manager of the retail location, the notification requesting approval of the change order request prior to the funds being dispensed by the back office system.

11. The one or more non-transitory computer readable media of claim 10, wherein a value of the amount of currency of the second denomination is at least equal to the value of the amount of currency of the first denomination.

12. The one or more non-transitory computer readable media of claim 10, wherein the computer readable instructions, when executed, further cause the apparatus to:

receive, by the back office system, a reconciliation message from the point of sale system upon the point of sale system receiving the amount of the currency of the second denomination; and

verify, by the back office system, that the amount of the currency of the second denomination received matches the amount of the currency of the second denomination requested.