Method of automated monetary transfers

• US 20060031160A1
• Filed: 08/03/2004
• Published: 02/09/2006
• Est. Priority Date: 08/03/2004
• Status: Abandoned Application

• Current Assignee: JAIN V Fund Limited Liability Company
• Original Assignee: JAIN V Fund Limited Liability Company
• Inventors: Villa, Edgar
• Application Number:
  US10/911,041
• Publication Number:
  US 20060031160A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A consumer banking method provides for establishment of a petty cash account that may have funds transferred into it by a first user using a first account number and PIN number, and also have funds transferred out of the petty cash account by a second user using a second account number and PIN number. Methods for accomplishing this are defined using telephonic and personal contact with an automated banking system.

Claims

1. A banking method comprising the steps of:

associating a first PIN with a first user;

providing the first PIN with full access to a first bank account, and a second bank account;

identifying the first PIN to a first automated banking attendant;

transferring a first sum of money from the first bank account to the second bank account under the control of the first PIN;

associating a second PIN with a second user;

providing the second PIN with access to the second bank account for withdrawals only;

identifying the second PIN to a second automated banking attendant; and

transferring a second sum of money, wherein the second sum of money is equal to or less than the first sum of money, from the second bank account to the second user.

2. The method of claim 1 wherein the transfer of the second sum of money is conducted using a monetary instrument taken from the group of monetary instruments comprising:

cash, check, money order, debit card, credit card and pre-paid telephone card wherein the value of the monetary instrument is made equal to or increased by the second sum of money.

3. The method of claim 1 wherein the identifying of the first PIN to the first automated banking attendant, and the transferring of the first sum of money from the first bank account to the second bank account is conducted by one of telephonic and manual data transfer.

4. The method of claim 3 wherein the telephonic data transfer is conducted by one of wire and wireless transmission.

5. The method of claim 4 wherein the wireless transmission is conducted from a cell phone.

6. The method of claim 3 wherein the manual data transfer is conducted using an ATM machine.

7. The method of claim 1 wherein the users have a limited number of tries to enter a valid account number and PIN.

8. The method of claim 1 wherein the users have a choice between receiving information on account balance and transferring funds.

9. The method of claim 1 wherein the first user has a choice as to which first PIN related account is selected for funds transfer.

10. The method of claim 1 wherein the first user has a choice as to the sum of funds transferred.

11. The method of claim 1 wherein the second user has a choice as to the sum of funds to be received wherein the received funds do not exceed the balance available.

12. A banking method comprising the steps of:

associating at least one first PIN with at least one first user;

providing the at least one first PIN with full access to at least a first bank account, and a second bank account;

identifying the at least one first PIN to a first automated banking attendant;

transferring a first sum of money from the at least one first bank account to the at least one second bank account under the control of the at least one first PIN;

associating a at least one second PIN with at least one second user;

providing the at least one second PIN with access to the at least one second bank account for withdrawals only;

identifying the at least one second PIN to a second automated banking attendant; and

transferring a at least one second sum of money, wherein the at least one second sum of money is equal to or less than the at least one first sum of money, from the at least one second bank account to the at least one second user.

13. The method of claim 12 wherein the transfer of the second sum of money is conducted using a monetary instrument taken from the group of monetary instruments comprising:

cash, check, money order, debit card, credit card and pre-paid telephone card wherein the value of the monetary instrument is made equal to or increased by the second sum of money.

14. The method of claim 12 wherein the identifying of the at least one first PIN to the at least one first automated banking attendant, and the transferring of the at least one first sum of money from the at least one first bank account to the at least one second bank account is conducted by one of telephonic and manual data transfer.

15. The method of claim 14 wherein the telephonic data transfer is conducted by at least one of wire and wireless transmission.

16. The method of claim 15 wherein the wireless transmission is conducted from a cell phone.

17. The method of claim 14 wherein the manual data transfer is conducted using an ATM machine.

18. The method of claim 12 wherein the at least one first user has a choice as to which at least one first PIN related account is selected for funds transfer.

19. The method of claim 12 wherein the at least one first user has a choice as to the sum of funds transferred.

20. The method of claim 12 wherein the at least one second user has a choice as to the sum of funds to be received wherein the received funds do not exceed the balance available.