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System and method for checkless cash advance settlement

  • US 9,959,585 B2
  • Filed: 12/15/2015
  • Issued: 05/01/2018
  • Est. Priority Date: 09/09/2004
  • Status: Active Grant
First Claim
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1. A method for making funds available for gaming, the method comprising:

  • allowing a customer to select a monetary value transaction at an electronic processing terminal, the monetary value transaction providing credit to the customer for cash access based on a customer source of funds as collateral, and said monetary value transaction creating a negotiable instrument which represents an amount of money and which may be redeemed for cash or casino credit;

    receiving information regarding said source of funds at said electronic processing terminal to obtain customer identification information;

    generating a request for authorization of the monetary value transaction when the customer selects the monetary value transaction; and

    completing processing of said transaction at a casino cage station separate from the electronic processing terminal,wherein when said request for authorization has been approved and an identity of the customer is verified,generating the negotiable instrument, the negotiable instrument comprising at least some of the obtained customer identification information and is endorsable by the customer; and

    either;

    (a) printing a hard copy of the generated negotiable instrument for endorsement by the customer, and, after said customer endorses said negotiable instrument, receiving said endorsed negotiable instrument to provide funds to the customer at said casino cage station;

    or(b) receiving an electronic endorsement for the generated negotiable instrument from the customer at said electronic processing terminal and transmitting said endorsement to said casino cage station, and providing funds to said customer based on said endorsed negotiable instrument received at said casino cage station.

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