System and method of providing replenishment and pick-up services to one or more cash handling devices

• US 9,311,671 B2
• Filed: 11/25/2008
• Issued: 04/12/2016
• Est. Priority Date: 11/25/2008
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Folk, Amy Baker, Bohen, Daniel Christopher, Hensley, Veralyn, Heddleson, James, Nichols, Michelle, Atwood, Todd
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US12/277,847
• Publication Number:
  US 20100131407A1
• Time in Patent Office: 2,695 Days
• Field of Search: 705 35- 38, 705/16, 705/21, 705/28, 705/69, 705/26, 705/29, 235/379, 235/383
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/08355 Routing methods
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04W 4/02 Services making use of location information
• CPC Class Codes: H04W 4/024 Guidance services

Abstract

A transport carrier (i.e., an armored vehicle or any mode of transportation) may be equipped with cash storage and recycling capabilities. The transport carrier may be equipped to replenish funds as needed and/or pick up a surplus of funds. The transport carrier may be in communication with a financial institution and/or a central server. In some arrangements, the central server may dynamically route the transport carrier to cash handling devices as various locations in order to efficiently meet the needs of the devices and associated clients.

Claims

1. A method of transferring cash between locations, comprising:

determining, by a central server comprising a first processor and a first communication interface, a prescheduled route for a transport carrier vehicle conducting transport carrier transactions, the transport carrier vehicle being equipped with a transport carrier communication device having a second processor and a second communication interface;

after determining the prescheduled route, receiving, by the central server, via the first communication interface, from a first cash handling device at a first location, a request from the first cash handling device for a transaction at the first location, the first location not being part of the prescheduled route;

rerouting, by the central server, the transport carrier vehicle to the first location to complete the requested transaction at the first cash handling device at the first location using funds on board the transport carrier vehicle;

receiving, by the central server, via the first communication interface, from the transport carrier communication device on the transport carrier vehicle, a transmission from the transport carrier communication device, the transmission from the transport carrier communication device comprising a denomination description of a portion of funds on board the transport carrier vehicle used to complete the requested transaction at the first location; and

transmitting, by the central server, via the first communication interface, to a financial institution server, information regarding the transaction at the first location, wherein the information regarding the transaction at the first location comprises instructions for the financial institution server to credit or debit an account associated with the first location by an amount corresponding to the portion of the funds on board the transport carrier vehicle used to complete the requested transaction at the first location.

2. The method of claim 1, wherein transmitting the information regarding the transaction at the first location comprises transmitting instructions for the financial institution server to debit or credit a client account at the financial institution.

3. The method of claim 1, wherein transmitting the information regarding the transaction at the first location comprises transmitting instructions for the financial institution server to debit or credit an internal account.

4. The method of claim 1, wherein the request from the first cash handling device for the transaction at the first location is an on-demand request.

5. The method of claim 1, wherein the request from the first cash handling device for the transaction at the first location is an emergency request.

6. A method of transferring cash between locations, comprising:

transmitting, by a central server comprising a first processor and a first communication interface, from the central server to a first transport carrier vehicle, a prescheduled route, the prescheduled route including a plurality of locations for the first transport carrier vehicle to visit, the first transport carrier vehicle being equipped with a transport carrier communication device having a second processor and a second communication interface;

after transmitting the prescheduled route, receiving, by the central server, via the first communication interface, from a first cash handling device at a first location, a request from the first cash handling device for a transaction at the first location, the first location not being on the prescheduled route, the request from the first cash handling device for the transaction at the first location comprising a denomination description of the transaction;

determining, by the central server and based on one or more transmissions received by the central server via the first communication interface from the transport carrier communication device on the first transport carrier vehicle and the denomination description of the transaction, that the first transport carrier vehicle is equipped with funds having proper denomination to complete the transaction requested by the first cash handling device at the first location;

rerouting, by the central server, the first transport carrier vehicle to the first location to complete the transaction requested by the first cash handling device at the first location;

receiving, by the central server and via the first communication interface, from the transport carrier communication device on the first transport carrier vehicle, an indication that the first transport carrier vehicle has completed the transaction requested by the first cash handling device at the first location; and

transmitting, by the central server, via the first communication interface, and to a financial institution server associated with the first location, instructions to credit or debit an account associated with the first location by an amount corresponding to funds exchanged to complete the transaction requested by the first cash handling device at the first location.

7. The method of claim 6, wherein the transaction requested by the first cash handling device is completed using funds on board the first transport carrier vehicle.

8. The method of claim 7, wherein the transaction requested by the first cash handling device is completed without obtaining additional funds from a financial institution.

9. The method of claim 7, wherein the transaction requested by the first cash handling device is completed without obtaining additional funds from a centralized location.

10. The method of claim 6, further comprising determining, by the central server, whether the first transport carrier vehicle should resume the prescheduled route upon completion of the transaction requested by the first cash handling device.

11. The method of claim 10, further comprising:

upon determining that the first transport carrier vehicle should resume the prescheduled route, transmitting, by the central server, via the first communication interface, to the transport carrier communication device on the first transport carrier vehicle, an indication to resume the prescheduled route.

12. The method of claim 10, further comprising:

upon determining that the first transport carrier vehicle should not resume the prescheduled route, rerouting, by the central server, the first transport carrier vehicle to a second location not on the prescheduled route.