Methods and apparatus for facilitating a currency exchange transaction

• US 20060060646A1
• Filed: 09/22/2004
• Published: 03/23/2006
• Est. Priority Date: 09/22/2004
• Status: Active Grant

• Current Assignee: Hee-Cheol Pae
• Original Assignee: Fidos, Ltd.
• Inventors: Lee, Seon Ho
• Granted Patent: US 7,140,538 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/381 Currency conversion
• 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: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

Methods and apparatus for prompting a user to enter currency of a first country including at least one of notes and coins into a foreign exchange kiosk; applying one or more currency exchange rates to a total of the entered currency to compute a converted currency amount of a second country; and conducting a money transfer with a third party based on the converted currency amount.

Claims

1. A method, comprising:

displaying a first currency exchange rate associated with notes and a second currency exchange rate associated with coins on a display screen of a foreign exchange kiosk;

prompting a user to enter currency of a first country into said foreign exchange kiosk;

applying one or more of said currency exchange rates to a total of the entered currency to compute a converted currency amount of a second country; and

conducting a money transfer with a third party based on the converted currency amount.

2. The method of claim 1, further comprising at least one of:

defaulting the first country to correspond with a location of the kiosk; and

prompting the user to select the first country using an input device of the kiosk.

3. The method of claim 1, further comprising:

reading card information from a card swiped into the kiosk to determine a language in which to display information on the kiosk.

4. The method of claim 3, further comprising at least one of:

defaulting the second country to correspond with the determined language; and

prompting the user to select the second country using an input device of the kiosk.

5. The method of claim 1, further comprising at least one of:

displaying the total of the entered currency on said display screen of the kiosk; and

prompting the user to confirm the total of the entered currency.

6. The method of claim 1, further comprising:

prompting the user to confirm that the one or more exchange rates are accepted.

8. The method of claim 1, further comprising at least one of:

displaying one or more currency types into which the user may convert the entered currency; and

prompting the user to select one of the currency types.

9. The method of claim 8, wherein the one or more currency types includes at least one of cash, credit card account, direct deposit account, and cyber money.

10. The method of claim 1, further comprising at least one of:

displaying a transaction fee on said display screen of the kiosk; and

prompting the user to confirm that the transaction fee is accepted, wherein said displaying, prompting, applying, and conducting steps provide a transaction.

11. The method of claim 10, further comprising:

transmitting transaction information to a processing center over a communications network, the transaction information including at least one of the entered currency, the first country, the second country, a currency type, information concerning the third party, and the transaction fee; and

executing a money transfer to the third party based on the converted currency amount.

12. The method of claim 11, further comprising:

updating a website in communication with the processing center such that the user may obtain status information concerning the transaction by accessing the website.

25. The method of claim 1 wherein the prompting comprises prompting the user to enter the currency of the first country including notes and coins into the foreign exchange kiosk.

7. (canceled)

13. An apparatus, comprising:

a processor operable to execute actions in response to program instructions;

a display operatively coupled to the processor and adapted to display indicia to a user in accordance with the processor;

a hard currency input device operable to receive hard currency input from the user and to store same within the apparatus; and

a network interface operable to transmit and receive messages over a communications network,

wherein the processor is further operable to;

(i) display a first exchange rate associated with notes and a second exchange rate associated with coins;

(ii) display a prompt to the user on the display to enter currency of a first country into the hard currency input device; and

(iii) apply one or more of said currency exchange rates to a total of the entered currency to compute a converted currency amount of a second country.

14. The apparatus of claim 13, wherein the processor is further operable to at least one of:

default the first country to correspond with a location of the apparatus; and

prompt the user via the display to select the first country using an input device of the apparatus.

15. The apparatus of claim 13, further comprising a card reading device operable to read card information from a card swiped by the user, wherein the processor is further operable to determine a language in which to display information on the kiosk.

16. The apparatus of claim 15, wherein the processor is further operable to at least one of:

default the second country to correspond with the determined language; and

prompt the user via the display to select the second country using an input device of the apparatus.

17. The apparatus of claim 13, wherein the processor is further operable to at least one of:

display the total of the entered currency on the display; and

prompt the user via the display to confirm the total of the entered currency.

18. The apparatus of claim 13, wherein the processor is further operable to:

prompt the user via the display to confirm that the one or more exchange rates is accepted.

20. The apparatus of claim 13, wherein the processor is further operable to at least one of:

display one or more currency types into which the user may convert the entered currency; and

prompt the user via the display to select one of the currency types.

21. The apparatus of claim 20, wherein the one or more currency types includes at least one of cash, credit card account, direct deposit account, and cyber money.

22. The apparatus of claim 13, wherein the processor is further operable to at least one of:

display a transaction fee on the display; and

prompt the user via the display to confirm that the transaction fee is accepted.

23. The apparatus of claim 22 wherein the processor is further operable to cause the network interface to transmit transaction information to a processing center over the communications network, the transaction information including at least one of the entered currency, the first country, the second country, a currency type, information concerning a third party, and the transaction fee.

24. The apparatus of claim 13, wherein the processing center is operable to execute a money transfer to a third party based on the converted currency amount.

26. The apparatus of claim 13 wherein said displaying comprises displaying a prompt to the user on the display to enter the currency of the first country including notes and coins into the hard currency input device.

19. (canceled)