Registers – Systems controlled by data bearing records – Banking systems
Reexamination Certificate
2002-11-14
2003-12-16
Frech, Karl D. (Department: 2876)
Registers
Systems controlled by data bearing records
Banking systems
C902S009000, C902S012000, C235S381000
Reexamination Certificate
active
06663001
ABSTRACT:
BACKGROUND OF THE INVENTION
The present invention relates to a self service terminal (SST), and to a method of processing media deposits made to an SST.
Self service terminals, such as automated teller machines (ATMs), are used for a wide range of financial and other transactions. One such transaction is the deposit of valuable media, such as cash and checks, into the SST, generally for the purpose of crediting the deposit to the user's bank or other financial institution account. Indeed, in certain countries, where interest may be calculated on a user's account daily, it is not uncommon for large numbers of deposit transactions to take place towards the end of each day, as users deposit any cash they may have into an SST.
It is also convenient for users to be able to deposit checks and the like into SSTs as well as cash. However, the handling and processing of cash and checks will generally differ. For example, when cash is deposited into an SST, the SST will generally verify the validity of the cash (by, for example, detecting security features incorporated into genuine banknotes), and store the verified cash within a safe of the SST, for security reasons. Once the cash has been verified, the value of the deposited cash may be credited to a user's account immediately.
If checks are deposited, however, these must generally first be verified and the value of the check determined, usually by means of a relatively simple verification procedure such as the use of magnetic ink character recognition (MICR), before being stored within the SST. MICR is based on a set of industry standards, and such standards will be known to those of skill in the art. The value of the check cannot be credited to a user's account, however, until the check has been cleared against the check issuer's account. This may involve returning the actual check to the financial institution of the issuer, although to accelerate the process it is now possible to obtain an image of the check and electronically transfer the image to the issuer's financial institution. The checks themselves however may nonetheless still be returned to the issuing institution for subsequent verification.
These two different transaction processing paths are typically implemented in an SST by means of two largely distinct processing subunits or modules. This therefore increases the complexity and expense of such SSTs, as well as increasing maintenance costs. Further, despite the fact that deposited checks are in themselves of low value (since they can only generally be credited to the correct payee's account), it is common for deposited checks to be stored within the safe of the SST together with deposited cash. Thus, when the SST operator wishes to retrieve the checks from the SST, it is necessary to send an individual with sufficient security clearance to access the safe of the SST, even if cash is not being retrieved. This again increases the cost of maintaining and operating such SSTs.
SUMMARY OF THE INVENTION
It is among the objects of embodiments of the present invention to obviate or alleviate the difficulties of maintaining and operating SSTs with separate transaction processing modules. It is further among the objects of certain embodiments of the invention to provide means whereby deposited checks may be stored in a relatively low-security environment, separated from any deposited cash, thereby reducing the costs of operating such SSTs.
According to a first aspect of the present invention, there is provided a method of processing media deposits into a self service terminal (SST), the method comprising the steps of:
a) receiving a media deposit comprising at least one media item into an SST;
b) determining whether each deposited item is cash or a check;
c) analyzing each deposited item, to verify the items;
d) transferring each deposited check item into a check deposit bin; and
e) transferring each deposited cash item into a cash deposit bin.
The step of determining whether each deposited media item is cash or a check may be carried out automatically by the SST, for example, as part of the analyzing step. This allows the user to make a single deposit of a mixture of different types of media item. Alternatively, the determination may comprise the steps of asking the user to confirm whether the deposited items are cash or checks; that is, the determination is carried out ‘manually’. Where the determination is manual, it is preferred that the media deposit comprises only a single type of media item; this may not however be entirely under the control of the operator of the SST, and in such situations where a mixed deposit is inadvertently made by the user, the method may comprise the step of returning those items which are not of the correct type to the user.
The step of analyzing the deposited items may comprise detecting one or more security features incorporated into genuine media items. In the case of cash, these security features may include magnetic regions of banknotes; metallic threads; the notes' response to light of different wavelengths; the type of ink used; the type of paper used; and so forth. Methods for detecting and verifying these features will be known to those of skill in the art. Similar security features may be used in checks, although it is common for checks to incorporate fewer security features than banknotes. A common feature used in checks is the use of magnetic ink for printing of numeric codes, as detected by MICR; verification of checks may comprise simply detection of the codes printed on the check by MICR. The analysis may also include the step of determining the value of the deposited items; in the case of cash, it is usual for each denomination of banknote to include a characteristic pattern of security features, such that detection of the security features allows the note to be both verified and valued, while in the case of pre-printed checks, the MICR codes typically do not include a representation of the value of the check. For hand-written and pre-printed checks, the value is typically determined from optical character recognition (OCR) of the check.
Where the value of the deposited items has been determined, the method may further comprise the step of asking the user to confirm the determined value of the deposit. If the user agrees with the calculated value, the transaction may proceed as usual, while if the user disagrees, the deposited items may be returned to the user without further processing. This allows the user either to re-enter the returned items, or to take them to a bank for manual deposit.
The method may further comprise the step of returning unverified items to the user. Alternatively, or in addition, items identified as non-genuine (rather than simply unverified) may be transferred to a forgery bin, for storage. This allows forged items to be removed from circulation, while unverified items (for example, non-media items, or blank checks, or the like) may be returned to the user. There will often be a detectable difference between unverifiable items and non-genuine items, since non-genuine items will have been intended to have the appearance of genuine items, but will lack one or more of the genuine security features.
The method may further comprise the step of transferring the deposited items to an escrow storage. This step preferably occurs between the analysis and other transfer steps. Escrow storage allows the deposited items to be temporarily stored with the possibility of returning the items to the user. Thus, the deposited items may remain in escrow prior to confirming a calculated value of the items with the user, or escrow may be used to allow unverified items to be returned, with verified items proceeding to either of the cash or check bins.
The SST preferably includes a secure storage location for valuable media; for example, the SST may include a safe. Preferably the cash bin is located within the safe. The check bin may be located within the safe, or outside the safe. Locating the check bin outside the safe provides advantage
Buckman Symon P. A.
Haley Marcus
Strachan Patrick
Suttie Robert J.
Chan Michael
Frech Karl D.
Labaze Edwyn
NCR Corporation
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