Token-control

Registers – Calculators – Input-output calculator to indicator – printer – etc.

Patent

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Details

235 6111D, G06F 704, G06K 500

Patent

active

040203263

ABSTRACT:
A money-dispensing system is operative to dispense packets of money in selected number to a bank customer in response to presentation to the system of his credit card and keyed-entry of a personal identification number corresponding uniquely to the account number recorded magnetically on the card. Magnetic heads read from the card recordings defining the maximum number N of packets that can be withdrawn in any period of D days, the date of card expiry, and, as of the last use of the card, the date of commencement of the next period of D days and the extent to which the limit N has not been reached. If the date of commencement of the next period, which date is recorded as the number of days to the end of the expiry year, is after the current date, the transaction proceeds with up-dating of the extent of use recording accordingly, provided the limit N is not exceeded. If the date of next-period commencement is the same or before the current date the full limit N is made available for use and the recording of the next-period commencement is up-dated on the card to D days later than the current date.

REFERENCES:
patent: 3657702 (1972-04-01), Stephenson, Jr.
patent: 3731076 (1973-05-01), Nagata et al.
patent: 3743134 (1973-07-01), Constable et al.

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