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Browse Prior Art Database

Integrated Automatic Coin Banking System

IP.com Disclosure Number: IPCOM000120364D
Original Publication Date: 1991-Apr-01
Included in the Prior Art Database: 2005-Apr-02
Document File: 2 page(s) / 74K

Publishing Venue

IBM

Related People

Plain, JA: AUTHOR

Abstract

Disclosed is a system for automating the deposit and handling of coins in a banking environment. This system would integrate the resources of an ATM (Automated Teller Machine), a coin counter, a coin sorter, and a coin wrapper to achieve a completely contained solution to coin banking.

This text was extracted from an ASCII text file.
This is the abbreviated version, containing approximately 52% of the total text.

Integrated Automatic Coin Banking System

      Disclosed is a system for automating the deposit and
handling of coins in a banking environment.  This system would
integrate the resources of an ATM (Automated Teller Machine), a coin
counter, a coin sorter, and a coin wrapper to achieve a completely
contained solution to coin banking.

      Today's typical coin transaction is labor intensive for the
customer as well as the bank.  Before being presented to the bank for
deposit, coins must first be "rolled" by the customer.  After
accepting them for deposit, the tellers must then verify these rolls
as a part of their daily close-out.  If discrepancies arise,
additional steps are required including sensitive customer
notifications.

      By automating this transaction into an integrated system, the
bank would benefit in a number of ways.  Among them:
   1.   Bank workload/teller transactions would be
        reduced/simplified.
   2.   Customer convenience would be increased.
   3.   Banks would create a new source of deposits, i.e.,
        revenue.
   4.   Coin "boarding" would be reduced.

      The design of the Integrated Automatic Coin Banking System
largely incorporates existing banking equipment with minor
modifications.  Functionally, the design would be best achieved
through the layout of the equipment.  In most cases this would simply
require the bank to install an ATM adjacent to a customer-accessible
coin counter that would feed into a coin sorter/coin wrapper
mechanism.

      Referring to the drawing, the typical transaction would follow
this scenario:

      A bank customer would access their accoun...