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 Automatic funds processing system

Details
Inventors: Mennie, Douglas U.; Jones, William J.; Munro, Mark C.;
Assignee: Cummins-Allison, Corp. (Mt. Prospect, IL)
Primary Examiner: Tran; Phuoc
Assistant Examiner:
Attorney, Agent or Firm: Arnold White & Durkee

A funds processing system receives, dispenses, and sorts currency and substantially immediately furnishes an associated accounting system with data, including the value of the currency processed, in a single transaction. The system determines the denomination of the received currency, sorts the received currency, generates electrical signals representing the amount of received currency in each denomination in each batch of currency received, has a memory for receiving data representing the amount of each denomination of currency received. The system also contains a controller for transferring data from the memory to the associated cash accounting system so that deposits and withdrawals executed at the funds processing system are entered in the accounting system substantially immediately after the execution of the deposits and withdrawals. The system dispenses currency based upon the amount of received currency and the amount deposited into the accounting system.

DETAILED DESCRIPTION The primary object of the present invention is to provide an improved automatic teller machine ("ATM") or currency redemption machine that is capable of processing cash deposits as well as withdrawals.
Another object of this invention is to provide such machines that are capable of accepting and dispensing coins as well as bills.
A further object of this invention is to provide such machines that automatically evaluate the authenticity, as well as the denomination, of the cash that is deposited, whether in the form of bills or coins.
Still another object of the invention is to provide such machines that are coupled to the cash accounting system of a bank or other financial institution so that the customer's account can be immediately credited with verified cash deposit amounts.
Other aspects and advantages of the present invention will become apparent upon reading the following detailed description and upon reference to the drawings.
In accordance with the present invention, the foregoing objectives are realized by providing a currency processing machine for receiving and dispensing cash and substantially immediately furnishing an associated cash accounting system with data, including the value of the currency processed, for each transaction.
The machine includes a bill dispenser having a bill storage device and controllable transport means for dispensing selected numbers of bills from the storage device, a bill receptacle for receiving stacks of bills to be deposited, and a bill counter and scanner for rapidly removing the bills one at a time from the receptacle and counting the bills while determining the denomination of each bill.
The counter and scanner also generates data representing the denomination of each bill, and the number of bills of each denomination, passed through the counter and scanner.
A memory receives and stores data representing the number of bills of each denomination passed through the counter and scanner in each transaction, and data representing the total value of the bills passed through the counter and scanner in each transaction



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