Method for holding and dispensing cash upon demand at a remote l

Details Method for holding and dispensing cash upon demand at a remote l Method for holding and dispensing cash upon demand at a remote l

1995-08-18

1997-09-02

Hajec, Donald T.

Registers

Systems controlled by data bearing records

Banking systems

G06F 1760

Patent

active

056635460

ABSTRACT:
Cash is given to a person confidentially and anonymously by first receiving an amount of cash from a person and, without identifying the person from whom the cash was received, or to whom it is to be paid out, the amount of cash is identified by a code such as the PAN code. The holder of the cash is part of a network including multiple card readers at remote transaction points, and the identifying code is encoded on a card. When the holder of the card desires a sum of cash not exceeding the amount of cash held by the cash holder, the card is inserted in the card reader at the transaction point, the authenticity of the card is verified, as with a PIN number, and the holder then sends a signal to the card reader at the transaction point authorizing the payout of the requested sum of cash. By identifying the amount of cash held by the holder with a code number; for example, on the basis of cash received from a person, and securing access to the cash by requiring a linking of the code number with an identification number, the amount of cash to be held can be received from and the requested sum of cash can be paid to the person in question without requiring any form of identification or pre-establishing an account, to thereby maintain confidentiality and anonymity not otherwise available when dealing with anything but cash.

REFERENCES:
patent: 5302811 (1994-04-01), Fukatsu
patent: 5350906 (1994-09-01), Brody et al.
patent: 5477038 (1995-12-01), Levine et al.

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