Automatic Settlement of User Account From a Remote Kiosk

Abstract

A transaction kiosk collects cash from a user and then electronically negotiates with the user's creditor to settle a balance on an account with the creditor. The bank recognizes the cash deposited in the transaction kiosk by the user as security for the settlement amount. The cash deposited in the transaction kiosk is considered a cash asset owned by the bank and available to satisfy depositor claims. A transaction processor brokers the transaction between the user of the transaction kiosk, the surety bank, and the creditor.

1 . A method comprising:
 validating a first amount of fund deposit at a remote location;   physically securing the fund deposit at the remote location by holding the fund deposit within a kiosk at the remote location; and   communicating information about the first amount with an intermediary to update a record of a second amount of fund available to the intermediary by including a portion of the first amount of the fund within the second amount;   wherein the ownership of the fund deposit is separated from the ownership of other physical assets of the kiosk and the fund deposit is owned by the intermediary.   
     
     
         2 . The method of  claim 1  wherein the step of physically securing further comprises holding the fund deposit within a vault in the kiosk. 
     
     
         3 . The method of  claim 2  wherein the ownership of the vault is separated from the ownership of the other physical assets of the kiosk and the vault is owned by the intermediary. 
     
     
         4 . The method of  claim 3  wherein the second amount of fund is used to satisfy a claim against a user depositing the fund deposit. 
     
     
         5 . The method of  claim 4  further comprising leveraging the first amount to secure a payment on behalf of the user to a creditor of the user. 
     
     
         6 . The method of  claim 1  wherein the record is updated before the fund deposit is physically removed from the remote location. 
     
     
         7 . The method of  claim 1  wherein the intermediary is a bank. 
     
     
         8 . A method comprising:
 validating a first amount of fund deposit by a debtor at a remote location;   physically securing the fund deposit by the debtor in a kiosk at the remote location; wherein the ownership of the fund deposit is separated from the ownership of other physical assets of the kiosk and the fund deposit is owned by an intermediary; and   transmitting data including the first amount from the location to the intermediary to update a record of a second amount of fund available to the intermediary by including the first amount of the fund deposit physically secured at the remote location within the second amount.   
     
     
         9 . The method of  claim 8  further comprising transmitting a confirmation from the remote location to a creditor in settlement of an account of the debtor with the creditor. 
     
     
         10 . The method of  claim 9  wherein the settlement is secured by the validated first amount of fund deposit while the fund deposit is physically secured at the location. 
     
     
         11 . The method of  claim 10 , wherein the step of physically securing further comprises holding the fund deposit in a vault within the kiosk. 
     
     
         12 . The method of  claim 11  wherein the intermediary is a bank. 
     
     
         13 . The method of  claim 8  wherein the record is updated before the fund deposit is physically removed from the location. 
     
     
         14 . The method of  claim 9  wherein the step of transmitting the confirmation further comprises transmitting the confirmation to the creditor. 
     
     
         15 . The method of  claim 9  further comprising transmitting data regarding the settlement from the remote location to the intermediary. 
     
     
         16 . The method of  claim 9  further comprising receiving data identifying a balance of the account of the debtor from the creditor. 
     
     
         17 . The method of  claim 9  further comprising charging a transaction fee to the debtor. 
     
     
         18 . The method of  claim 9  further comprising returning a third amount to the debtor, wherein the third amount is the difference between the first amount, a balance of the account of the debtor, and any transaction fee. 
     
     
         19 . The method of  claim 18 , wherein the third amount is returned to the debtor in the form of a prepaid convenience card. 
     
     
         20 . The method of  claim 8  further comprising allocating a portion of the second amount of fund to settle the account of the debtor. 
     
     
         21 . A method comprising:
 receiving data at the intermediary from a remote location via a network, the data including a first amount of a fund deposit by a user validated and physically secured at the remote location in a kiosk wherein the ownership of the fund deposit is separated from other physical assets of the kiosk and the fund deposit is owned by the intermediary; and   updating a record of a second amount of fund available to the intermediary using a processor to satisfy depositor claims by including the first amount of the fund deposit physically secured at the remote location within the second amount.   
     
     
         22 . The method of  claim 21  further comprising receiving data identifying a balance of the account from the creditor. 
     
     
         23 . The method of  claim 21  further comprising receiving notification at the intermediary of a confirmation issued to a creditor that the intermediary will, on behalf of the user, settle an account of the intermediary with the creditor, wherein settlement is secured by the first amount of the fund deposit. 
     
     
         24 . The method of  claim 23  further comprising remitting payment by the intermediary to the creditor with fund from the second amount in settlement of the account of the user. 
     
     
         25 . The method of  claim 21  wherein the record is updated before the fund deposit is physically removed from the remote location. 
     
     
         26 . One or more tangible computer-readable storage media storing computer executable instructions for performing a computer process on a computing system, the computer process comprising:
 validating a first amount of fund deposit by a debtor at a remote location;   physically securing the fund deposit by the debtor in a kiosk at the remote location; wherein the ownership of the fund deposit is separated from the ownership of other physical assets of the kiosk and the fund deposit is owned by an intermediary;   transmitting data including the first amount from the location to the intermediary to update a record of a second amount of fund available to the intermediary by including the first amount of the fund deposit physically secured at the transaction location within the second amount.   
     
     
         27 . The one or more tangible computer-readable storage media of  claim 26  further comprising:
 receiving a second set of data from the remote location via the network, the second set of data including a request to pay an account of the debtor with a creditor; 
 transmitting a confirmation to the creditor that the intermediary will, on behalf of the debtor, settle the account of the debtor with the creditor, wherein settlement is secured by the first amount of the fund deposit. 
 
     
     
         28 . The one or more tangible computer-readable storage media of  claim 27  further comprising transmitting notification of the confirmation to the intermediary. 
     
     
         29 . The one or more tangible computer-readable storage media of  claim 27  further comprising transmitting rules concerning transaction fee amounts and/or allocations to the intermediary. 
     
     
         30 . The one or more tangible computer-readable storage media of  claim 26  wherein the intermediary is a bank.