Apparatus and method for conducting financial transactions

A currency dispensing apparatus employs a removable portable cartridge having a plurality of compartments for storing currency of differing denominations to be dispensed during successive transactions, another compartment for receiving a journal record printed as each transaction is completed, and a different compartment (preferably defined by a detachable portion of the cartridge) for storing rejected currency. Upon removal from the apparatus, the cartridge will thus contain all undispensed currency, including rejected currency, and also contain a complete journal record of all transactions conducted at the apparatus using that particular cartridge. The cartridge comprises two concentric members, the outer having an opening through which currency is dispensed, and the inner providing the compartments. The appropriate currency compartment is rotatably aligned with the dispensing opening, which is adjacent a dispensing station. The outer member is also rotatable independently of the inner member to change the position of the opening to enable detachment and later reinsertion of the different compartment. In a multiple dispensing station transaction terminal having three access stations 120.degree. apart, the outer member is rotatable to the respective stations so that all may be serviced by a single cartridge.

BACKGROUND OF THE INVENTION 
This invention relates to an apparatus and method for conducting financial 
transactions. More particularly, it relates to an apparatus and method 
wherein currency containing cartridges are removably insertable in the 
apparatus so that upon removal from the apparatus, after completion of a 
series of transactions, the cartridge will contain not only all 
undispensed currency, including rejected currency, but also contain 
automatically printed journal records pertaining to all said transactions. 
U.S. Pat. No. 3,899,103 discloses an automatic currency dispensing 
apparatus comprising a currency container having a plurality of 
compartments, each containing currency of different denominations and 
rotatable (by means not shown) selectively into alignment with a currency 
dispensing station. This container apparently normally remains a part of 
the apparatus and it is not intended to be portable and replaceable. 
U.S. Pat. Nos. 2,805,675 and 3,527,238 each disclose a currency dispensing 
system comprising a series of rectangular removable parallel magazines 
each containing currency of a single preselected denomination and arranged 
in a rectangular side-by-side array. 
U.S. Pat. No. 3,760,158 discloses side-by-side parallel stacks of currency, 
each of different denominations and contained in a wheeled cabinet; the 
specification concludes, however, with a general suggestion that as an 
alternative "The stacks may be housed in detachable cassettes which have 
been preloaded with a supply of notes." 
No prior art is known which discloses or even remotely suggests a currency 
dispensing apparatus or the like employing a portable removable cartridge 
which not only has a plurality of compartments adapted to store a 
plurality of bills of differing denominations but also is capable of 
storing rejected currency and a journal record of each transaction. 
SUMMARY OF THE INVENTION 
The principal object of this invention is therefore to provide an improved 
currency dispensing apparatus wherein, upon removal of a portable 
currency-dispensing cartridge from the apparatus, the cartridge will 
contain not only undispensed currency but also a record showing 
transaction data relating to all transactions involving the currency 
dispensed from that cartridge. 
Another object is to provide such an apparatus wherein the cartridge also 
will receive and store currency which is rejected and therefore not 
dispensed. 
A further object is to provide an apparatus having a cartridge of the above 
type wherein rejected currency is stored in a compartment provided by a 
portion of the cartridge that is removable and positionable adjacent the 
currency dispensing path. 
Still another object is to provide an apparatus having a plurality of 
currency dispensing locations arranged to be separately accessed but 
serviced by a single rotatable cartridge. 
These and other objects, features and advantages will become apparent from 
the following more particular description of preferred embodiments of the 
invention, as illustrated in the accompanying drawings.

DETAILED DESCRIPTION OF THE INVENTION 
As illustrated in FIG. 1A, B the apparatus embodying the invention 
comprises a currency dispensing cartridge 10 which includes two concentric 
members in the form of an annular shell 11 surrounding a core 12. The 
cartridge also includes a combined handle and cover 13. Projecting 
radially outward from shell 11 are two circumferentially spaced, 
integrally formed keys 14a, b. Between keys 14a, b is an elongated, 
vertical slot-like opening 15 through which currency 16 is adapted to be 
dispensed. Core 12 is divided by fixed stops 17 (see FIG. 3) into a 
plurality of compartments, such as 18a, b, c, each containing currency 
bills of a different denomination (e.g., $20, $5 and $1). The currency is 
inserted within each compartment by hand after core 12 is inserted within 
shell 11, as shown in FIG. 1B. Then cover 13 is installed to enclose the 
top of the cartridge. 
Cover 13 has a depending portion 19 that is narrower than the distance 
between keys 14a, b and preferably is normally latched in a closure 
position, in which it overlies and covers the opening 15, to prevent 
removal of currency. The outer surface of cover 13 is recessed at 20a, b 
to form a handle 20c by which the cover can be grasped and rotated to 
expose opening 15. 
As illustrated in FIG. 2, radially outward of the recess-defining rib there 
is an annular compartment 21 defined between the shell 11, top of cover 13 
and a washer 22 that rests on the upper surface of core 12. Cover 13 has a 
coaxially arranged depending shaft portion 23 which snap fits into a bore 
24 in core 12. Core 12 also has a coaxially arranged bore 25 at its lower 
end for receiving an aligning dowel 26 that projects coaxially from a 
turntable 27 rotatably driven by a motor 28. An electromagnetic clutch 
disk 29 cooperates with a metal washer 30 inset into the lower end of core 
12 to electromagnetically couple the turntable to the core. 
Outboard of turntable 27 are two solenoids 32, 33 carried on an annular 
grounded, generally flat support plate 34 that is rigidly connected to the 
housing of motor 28. Solenoid 32 has a plunger 35 normally biased by a 
spring 36 to a retracted position, in which it is shown in FIG. 2. With 
plunger 35 retracted, core 12 can be rotated by turntable 27 through 
clutch 29, 30 relative to shell 11 to align a selected currency 
compartment 18a, b, or c with dispensing opening 15; whereupon solenoid 32 
is energized to cause plunger 35 to project into a notch 37 in the under 
surface of core 12 to lock the cartridge in the currency dispensing 
position thus selected. 
Solenoid 33 is mounted to the underside of a ring 38 that has a 
circumferential groove 39 for receiving the outer edge portion of support 
plate 34. Ring 38 carries ball bearings (not shown) to enable it to be 
rotated freely relative to plate 34 as well as being supported by plate 
34. Solenoid 33 has a double-ended plunger 40 that is normally biased by a 
spring 41 to a lower position. A pair of lugs 42a, b (see FIG. 3) are 
formed integrally with and project upwardly from ring 38 a short distance 
along the exterior of shell 11. These lugs straddle and confine the keys 
14a, b, respectively, thus precisely defining the insertion position for 
cartridge 10. 
With plunger 40 retracted, as shown in FIG. 2, it will project into a notch 
43 in plate 34, for locking ring 38 and hence lugs 42a, b and shell 11 
against rotation, while enabling core 12 to rotate relative to ring 38. 
When solenoid 33 is energized, plunger 40 will project into a notch 44 in 
the under surface of core 12 to latch ring 38 and hence lugs 42a, b and 
shell 11 to the core. Hence, by energizing solenoid 33, rotary motion of 
turntable 27 will be transmitted via core 12 and plunger 40 to ring 38 for 
causing the core, shell and cover to rotate as a unit. This type of motion 
is necessary to align dispensing opening 15 with an escrow portion 45 
(FIG. 3) of the cartridge 10 that is removable from core 12 and normally 
retained within the core by shell 11. 
As illustrated in FIG. 3, escrow portion 45 has an opening 46 in one of its 
radial sides. Portion 45 is manually removable from a ribbed sector of 
cartridge 10 while the shell opening 15 is aligned therewith. Portion 45 
is then latched to a stationary apertured retainer plate 47, such that the 
escrow opening 46 is exposed to the aperture and is directly adjacent a 
movable slide 48. Slide 48 constitutes one side of a generally rectangular 
hollow shuttle member 49 normally disposed at an escrow station, as shown, 
and providing an enclosed space or chamber 49a. This shuttle chamber 49a 
forms part of the currency dispensing path. Currency of the selected 
denominations is accumulated in chamber 49a prior to movement of the 
shuttle to the exterior of the apparatus to dispense the currency to the 
customer. 
At this escrow station, at the opposite side of the shuttle from the escrow 
cartridge portion 45, there is a stationary bracket 50 that supports two 
solenoids 51, 52. Solenoid 51 has a double-ended plunger 53 that is biased 
by a spring 54 to a retracted position, in which it is shown in FIG. 3. 
With the plunger retracted, slide 48 can be moved laterally relative to 
the remaining portion of shuttle member 49 by a pinion 55 that engages a 
rack 56 affixed to the lower part of the slide. When solenoid 51 is 
energized, however, plunger 53 is projected into a notch 57 in slide 48, 
thus latching the slide to the remainder of the shuttle member 49. Now, 
when pinion 55 is rotated, the entire shuttle member 49 will be shifted 
laterally to a position D indicated in phantom lines in FIG. 3 to dispense 
the accumulated currency to the customer. Note that the beveled left end 
of plunger 53 will be cammed out of bracket 50 as slide 48 starts to move. 
Solenoid 52 has a plunger 60 that is biased by a spring 61 to a retracted 
position, in which it is shown in FIG. 3. In this position, a flat end 
portion 60a of plunger 60 is flush against the wall of chamber 49a. When 
solenoid 52 is energized, due to currency being misfed or other 
predetermined causes, plunger 60 will be projected to cause any currency 
then in chamber 49a to be driven by plunger portion 60a through opening 46 
and into the escrow cartridge portion 45; this will occur, however, only 
after a time delay during which slide 48 has been shifted laterally 
relative to chamber 49a to expose the opening 46. 
A currency feed device 63 is located at a currency dispensing station X. 
Device 63 comprises a lever 64 normally pivoted clockwise, as viewed in 
FIG. 3, about a pin 65 to maintain a feed roll 66 retracted from cartridge 
10 so the latter may be rotated. After the shell and/or core of cartridge 
10 are rotated to bring the proper compartment 18a, b or c into alignment 
with opening 15, a rotary solenoid 67 is energized. This causes meshing 
gear segments 68a, b connected to solenoid 67 and lever 64, respectively, 
to swing roll 66 counterclockwise into an operative position, in which it 
is shown in FIG. 3. In this position, feed roll 66 frictionally contacts a 
restraint pad 69 carried by spaced flexible fingers 70 (only one shown) 
that are affixed to the inner wall of shell 11. Fingers 70 help to fan out 
the currency 16 as it approaches the nip of roll 66 and pad 69. 
Fanning is also assisted by compactors 71a, b, c that are freely rotatable 
about control annulus 12a of core 12 within the respective currency 
compartments 18a, b, c. These compactors comprise vertically spaced 
flexible fingers 72a, b, c (FIG. 2) supported at their inner ends by 
compactor lugs 73a, b, c (only one shown) and having friction pads 74a, b, 
c at their outer ends, which engage the inner wall of the shell 11. Each 
compactor 71a, b, c comprises a ring portion 75a, b, c slidably encircling 
core annulus 12a, and supporting the respective lugs 73a, b, c, which are 
nested in circumferentially spaced relation about annulus 12a between the 
fixed stops 17; i.e., lug 73a extends downwardly outboard of ring 75a, and 
lug 73b extends upwardly outboard of ring 75b. Thus, clockwise movement of 
core 12 (preferably one revolution after each transaction is completed) 
will automatically compact the currency with a force that is a function of 
the selected spring rate of fingers 72 and the frictional characteristics 
of the pads 74. 
Currency is dispensed one bill at a time by roll 66, which is suitably 
rotated by a belt 76 and a clutched stepping motor 77. As each currency 
bill exits from a throat 78 in device 63, it enters a guide chute 79 
leading to compartment 49a of shuttle member 49. Spaced apart 
approximately the width of a single dollar bill along this chute are a 
pair of sheet feed devices 80. These are perferably of the type covered by 
U.S. Pat. No. 3,747,921, assigned to the assignee of the present 
invention. These devices 80 cooperate with respective rubber surfaced 
idler rolls 81 to drive sheets, such as currency bills, with a series of 
jabbing, scuff-like vibratory elliptical cyclic motions. A 240 Hz driving 
frequency, for example, can feed currency bills at a rate of 10-15 inches 
per second. 
Between the devices 80 is a double bill detector 82 comprising a light 
source 83 and a sensor 84 that is associated with conventional circuitry 
(not shown) operative to generate an abort signal only if and when light 
intensity as sensed by the sensor drops below a preselected low threshold 
indicative of two or more bills having been fed in overlapped condition. 
Upstream of first device 80 is a currency counter 85 comprising a light 
source 86 and a sensor 87 associated with conventional circuitry (not 
shown) operative to count the number of bills fed to compartment 49a as 
the leading edge of each bill is fed past the sensor. 
As best shown in FIG. 3, the apparatus further comprises a wire printer 
having a print head 90 that is pivoted by a motor 91 to successively print 
a transaction receipt (not shown) at a platen 92 and then print a 
transaction journal record tape 93 at a platen 94. The transaction receipt 
preferably is printed on a 51-column card that is advanced in a direction 
toward the reader as viewed in FIG. 3 at the completion of the 
transaction. Tape 93 is preferably of encapsulated ink-coated paper so as 
to obviate need for a ribbon. The tape is unreeled from a roll 95 and over 
platen 94 into the nip defined between another sheet feed device 80 and 
rubber coated idler roll 81. This latter device 80 drives tape 93 with a 
series of jabbing motions through an aligned opening 96 in the wall of 
shell 11 and into compartment 21. Secured to shell 11 adjacent opening 96 
is a knife blade 97 for severing tape 93 whenever shell 11 is rotated, for 
when that occurs, opening 96 will be moved out of alignment with the 
transaction tape path. 
SUMMARY OF OPERATION 
Assume initially that currency 16 of differing denominations and of known 
quantities has been inserted in the compartments 18a, b, c of cartridge 
10; that solenoids 32, 33, 51, 52 and 67 are deenergized; that the 
assembled cartridge is inserted in its prescribed location with cartridge 
keys 14a, b retained between lugs 42a, b (see FIGS. 2, 3); and that 
depending portion 19 of cover 13 has been rotated manually to uncover 
opening 15. Under these conditions, the various parts will be in the 
respective positions at which they are shown in FIGS. 2 and 3, except for 
roll 66 of currency feed device 63, which will be retracted from the 
cartridge. 
As illustrated in FIG. 4, when cartridge 10 is inserted, cartridge shell 11 
will be grounded by contact with support plate 34, enabling manual 
rotation of cover 13 to expose opening 15; and a series of mechanical 
switches 101a, b, c will be closed. With switch 101b closed, a bank teller 
can now key into a special keyboard 102 (not accessable to customers) the 
amount of currency of the various denominations in the respective 
cartridge compartments 18a, b, c and have this data stored in suitable 
storage within a controller 103. With switch 101c closed, the teller can 
now depress another key on keyboard 102 to initiate the following sequence 
of operations: (a) energize solenoid 33 to latch the entire cartridge 10 
to turntable 27; (b) cause turntable drive control circuitry 104 to rotate 
the turntable until opening 15 is at the preselected offset station W 
(FIG. 3) for accessing cartridge escrow portion 45; (c) deenergize 
solenoid 33 to lock shell 11 and enable circuitry 104, through the 
turntable, to rotate core 12 relative to shell 11 for aligning escrow 
portion 45 with opening 15 at location W; and (d) energize both solenoids 
32, 33 to lock cartridge 10 in this position. The teller now grasps escrow 
portion 45, removes it manually from the cartridge, and inserts it in 
retainer plate 47, as shown in phantom lines in FIG. 3. The apparatus is 
now ready for operation by the customer. 
The customer inserts his credit card 105 in a credit card reader 106 
forming part of the apparatus, and appropriate data is transmitted to 
controller 103. A console (not shown) of conventional type will instruct 
the customer on the various transaction steps to be taken. With switch 
101a closed, the customer can now, for example, enter a personal 
identification number in a keyboard 107 for transmission to controller 103 
and customer authentication. Next, the customer can key in on keyboard 107 
the amount of currency desired; e.g., $50. This will initiate the 
following sequence of operations under control of controller 103: (a) 
energize solenoid 33, then rotate the entire cartridge 10 through 
turntable 27 until opening 15 aligns with currency dispensing station X; 
(b) deenergize solenoid 33, then rotate the turntable to rotate core 12 
relative to the now stationary shell 11 until compartment 18a containing 
the $20 bills is aligned with opening 15 at station X; (c) energize 
solenoids 32, 33 to lock the entire cartridge in this position; (d) 
energize solenoid 67 to swing feed roll 66 into its operative position, 
then actuate stepping motor 77 to rotate this feed roll for feeding 
currency through throat 78 into chute 79 for advancement by devices 80, 81 
into compartment 49 a. 
Since in the example illustratively assumed, the customer desires $50, 
controller 103 will be programmed to call for two $20 bills and two $5 
bills to be dispensed. When the second $20 bill is still in the nip of 
roll 66 and pad 69, its leading edge will be detected by counter 85 to 
stop rotation of roll 66 after the second $20 bill is fed into throat 78. 
Controller 103 will now initiate the following sequence of operations: (a) 
deenergize solenoid 67 for retracting feed roll 66; (b) deenergize 
solenoids 32, 33; (c) through turntable 27, rotate core 12 relative to 
shell 11 until compartment 18b containing the $5 bills is aligned with 
opening 15 at station X; (d) reenergize solenoids 32, 33 to lock the 
entire cartridge in its new position; (e) reenergize solenoid 67 for 
restoring feed roll 66 to its operative position; and (f) operate stepping 
motor 77 to cause roll 66 to dispense two $5 bills. 
Assuming now that the two $20 and two $5 bills have been received without 
problem in shuttle chamber 49a, solenoid 51 will be energized to lock 
slide 48 to the remainder of shuttle 49. Then after a preselected short 
time interval, a motor 110 (FIG. 4) will be operated under control of 
controller 103 for rotating pinion 55 to drive rack 56 to move shuttle 49 
to the position D indicated in phantom lines and in which it is exposed 
where the customer can grasp and remove the currency. 
Meanwhile the customer will receive the transaction receipt printed at 
platen 92 and delivered to the customer by means (not shown) not pertinent 
to the present invention. Also the requisite data concerning this 
transaction will be printed on transaction record tape 93 and the record 
tape will be advanced into compartment 21 of cartridge 10 by device 80, 
81. 
Assume now that two $5 bills are fed overlapped, indicating a misfeed 
condition. Detector 82 will operate to generate an abort signal, causing 
the controller 103 to initiate the following sequence of operations: (a) 
stop stepping motor 77 to cease further currency feeding; (b) operate 
motor 110 to cause pinion 55 to shift slide 48 laterally relative to the 
remainder of shell 49; (c) energize solenoid 52 to cause plunger portion 
60a to force all currency then stored in escrow compartment 49a (including 
the misfed currency which will now have entered the compartment) into 
cartridge escrow portion 45; (d) deenergize solenoid 52; (e) reverse 
operation of motor 110 to operatively restore slide 48 to normal position; 
(f) wipe out the count made by counter 85; (g) resume operation of 
stepping motor 77 to ab initio initiate a currency dispensing cycle. No 
transaction receipt or record tape will be printed when the currency 
dispensing operation is thus aborted. 
Assume now that the currency stored in cartridge 10 is substantially 
depleted, or that for some other reason, it is desired to remove the 
cartridge. The teller now keys into keyboard 102 an appropriate command 
that is transmitted via switch 101c to controller 103 to cause shell 11 
and core 12 to be rotated in the manner previously described; i.e., to 
align opening 15 and the escrow-portion-receiving part of core 12 at 
station W so that escrow portion 45 can be reinserted manually, then 
restore cartridge 10 to the position shown in FIG. 3 (except with feed 
roll 66 retracted); and finally rotate cover 13 manually to close opening 
15. Now, when the cartridge is withdrawn as a unit from the apparatus, it 
will contain all undispensed currency, including rejected currency, and 
also contain a journal record of each transaction, thus accounting for all 
currency initially stored in the cartridge. 
Description and Operation FIG. 5 
According to this variation of the invention, the apparatus has three 
dispensing stations X, Y, Z disposed 120.degree. apart, but serviced by a 
single cartridge 10, preferably of larger diameter than that employed with 
the single station version. Since customers may be accommodated at each 
station, it is necessary that shell 11 be rotatable to three positions, 
120.degree. apart, to bring the dispensing opening 15 into alignment with 
a respective station X, Y, Z, as well as rotatable to three offset 
stations in which opening 15 provides access to a respective one of three 
removable cartridge portions 45. In other words, there preferably is a 
separate removable escrow portion 45 for each station X, Y, Z. Hence, as 
in the single station version, the cartridge upon removal from the 
apparatus will contain all undispensed currency including rejected 
currency and also contain journal records of all transactions conducted at 
all three stations. 
It should be noted that solenoid 33 will now be operated to align opening 
15 at a desired one of the three dispensing stations X, Y or Z, as well as 
at their respective offset stations (like W) at which escrow portions 45 
are manually removable or insertable. Solenoid 32 will operate as in the 
earlier embodiment to control movement of the selected currency 
compartments into dispensing position aligned with opening 15 and then 
latch the compartments in such a position during the dispensing operation. 
The multiple station dispensing version can thus be readily implemented by 
appropriate modification of the programming for controller 103, operation 
being on a selective multiplexed basis. 
The three dispensing stations, X, Y, Z can be serviced by a single print 
head 90 and record tape 93 by providing a separate opening 96 and knife 
blade 97 for each station; i.e., one opening 96 will be aligned with the 
tape feed path when opening 15 is at station X, another opening 96 when at 
Y, etc. Also a separate feed device 63, currency dispense path and shuttle 
49 will be provided for each station. As shown in FIG. 5, the apparatus 
has at each station X, Y, Z, an instruction console 111, a slot 112 for 
insertion of credit card 105, and an opening 113 into which shuttle 49 is 
advanced to make the dispensed currency available to the customer. 
While the apparatus has been illustrated as using a cartridge having a 
manually removable escrow cartridge portion, it will be understood that, 
if preferred, the cartridge may be formed without a removable escrow 
portion; and a special escrow bin or container may be manually inserted in 
the retainer plate 47, with either the single station or multiple station 
version. 
Alternatively, if desired, the apparatus could be modified to provide for 
automatic (rather than manual) withdrawal of escrow portion 45 from the 
cartridge and insertion in retainer plate 47 during a start-up sequence, 
and automatic removal of the escrow portion from the plate and reinsertion 
into the cartridge during a shut-down sequence prior to removal of the 
cartridge from the apparatus. 
While the invention has been particularly shown and described with 
reference to preferred embodiments thereof, it will be understood by those 
skilled in the art that various changes in form, detail and method, 
including but not limited to those above suggested, may be made therein 
without departing from the spirit, scope and teaching of the invention. 
Accordingly, the apparatus and method herein disclosed are to be 
considered merely as illustrative and the invention is to be limited only 
as specified in the claims.