Patent ID: 7568615

Claim:
A method for facilitating cash transfer comprising: (a) at a first automated teller machine (ATM), (i) receiving an instruction to begin a cardless cash transaction, the first ATM being configured to interact with a remitter through one or more user input and output devices to facilitate the cardless cash transaction, wherein the first ATM is configured to facilitate the cardless cash transfer without the remitter having a pre-existing user account; (ii) receiving a deposit of cash from the remitter, wherein at the first ATM, the remitter provides a payment schedule that includes a payment structure including a plurality of partial payouts of the cash deposit to be available at the receiver at specified dates; (iii) providing a confirmation code to the remitter; and (iv) sending an indicator to a network server including an indicia of the cash deposit and an indicia of the confirmation code; (b) at the network server, (i) creating a temporary cash account based on the cash deposit; and (ii) revealing the temporary cash account to an interbank network; (c) at a second ATM, (i) receiving an instruction to begin a cardless cash receipt transaction, the second ATM being configured to interact with a receiver without the receiver having a pre-existing user account; (ii) receiving an identifier including the confirmation code; (iii) accessing the temporary cash account through the interbank network; (iv) providing cash output to the receiver; and (v) sending an indicator of the cash output to the interbank network.