Christopher L Chen

US Patent:

20020032656, Mar 14, 2002

Filed:

Mar 27, 2001

Appl. No.:

09/818824

Inventors:

Christopher Chen - Los Angeles CA, US

International Classification:

G06F017/60

US Classification:

705/043000

Abstract:

A method and a system for providing automatic teller machine (“ATM”) services to the customers of multiple financial institutions where the financial institutions contract with an ATM services provider. The ATM services provider providing multiple ATM's which are connected to an electronic funds transfer network. In an exemplary embodiment, the contracting financial institutions pay fees to the services provider in return for the services provider providing the financial institutions' customers with reduced or no cost ATM access. By contracting out the same set of ATMs to multiple financial institutions, the ATM services provider reduces duplicate ATM costs incurred when each financial institution maintains its own ATM network. Preferably, each of the ATMs of the ATM services provider has similar distinguishing characteristics or “trade dress” so as to make the ATM services provider's ATMs readily distinguishable from other ATMs. The ATM services provider may maintain a database of information about the customers and financial institutions including, but not limited to, the account numbers, the financial institution identification numbers, the transaction histories, and the contractual arrangements for determining the amount of reduced fees to be charged to the financial institutions and their customers. The service provider's ATMs may provide all conventional ATM transactions including, but not limited to, withdrawals of cash, inquiries of account balances, transfers of balances, and deposits of monies and checks.