WO1998007119A2

WO1998007119A2 - Method and transaction machine for managing payments by means of financial documents

Info

Publication number: WO1998007119A2
Application number: PCT/US1997/014048
Authority: WO
Inventors: Cosmo Mark Barone
Original assignee: Unisys Corporation
Priority date: 1996-08-09
Filing date: 1997-08-08
Publication date: 1998-02-19
Also published as: WO1998007119A3

Abstract

Bills are paid electronically or checks may be dispensed from an automated teller machine (100). Identification information is received from the user of the ATM. A bill (500) is scanned to obtain any of a bill identification number, a bill payee, and a bill amount. The user is provided with a request to pay at least a portion of the bill. The automated teller machine (100) receives authorization to pay at least a portion of the bill amount and a financial institution is signaled to pay the bill accordingly. Alternatively, the automated teller machine receives instructions to dispense a check, generates signals which indicate that funds corresponding to the value of the check are to be released and prints and dispenses the check.

Description

FINANCIAL TRANSACTION DOCUMENT TRANSACTION MACHINE

FIELD OF THE INVENTION

The present invention relates to the processing and generating of financial transaction documents and more particularly to electronic processing and release of funds for payments. In particular, a method and apparatus are disclosed for either scanning a financial transaction document such as a bill or for generating a financial transaction document such as a check, and for electronically signaling a financial institution to release a monetary amount which corresponds to the financial transaction document.

BACKGROUND OF THE INVENTION

Sellers of products and services typically send their customers a financial transaction document, such as a bill, as a first step towards collecting payment. Each customer then typically writes a check and mails the check to the seller (hereafter, the "bill payee") to satisfy the bill. There are, however, drawbacks to this system.

When a customer pays a bill in this manner, the customer incurs expenses. The customer must affix a postage stamp to the envelope which the customer is using to forward his check to the bill payee. If the envelope is lost, for example, by the Postal Service, the customer has no record to prove that he has paid the bill. Furthermore, banks typically charge the customer each time a check is used. The bill payee has to wait for the Postal Service to deliver the check. This may take several days to a week. When the customer's payment is received, the envelope must be opened, a clerk must enter the check into the bill payee's accounting system and the check must be deposited into the bill payee's bank. If, as occasionally occurs, the check is not honored by the customer's bank (e.g. there are insufficient funds to cover the amount of the check), and the check is hence uncollectable (i.e. the check "bounces"), the bill payee's bank may charge the bill payee a service fee. The bill payee then has to wait even longer to receive his money.

When the bill payee's bank receives the customer's check, the bill payee's bank needs to obtain the monies indicated by the check from the customer's bank and to credit this amount to the bill payee's account. Thus, the bill payee's bank has to return the check to the customer's bank and the bill payee's bank has to forward the monies to the seller's bank. The customer's bank has to remove the amount of the check from the customer's bank account. A report of this transaction must be made and the check is typically returned to the customer.

The process described above thus requires expenditures by numerous parties in order to process payments. All of this processing results in a delay for the bill payee to receive his money. Errors may also occur causing additional expense and delay.

SUMMARY OF THE INVENTION

A method and apparatus enable release of monetary funds. A customer with a monetary account which is managed by a financial institution indicates that payment is to be made. A physical medium which identifies the payment is processed. The physical medium is either received or dispensed. The financial institution is signaled to release funds for making a payment based upon the monetary account.

BRIEF DESCRIPTION OF THE DRAWINGS

Figure 1 is a diagram of a bill paying machine (BPM) in accordance with the present invention used in conjunction with an automated teller machine (ATM).

Figure 2 is a block diagram of an ATM which includes or which is coupled to a BPM in accordance with a first exemplary embodiment of the present invention.

Figure 3 is a perspective diagram of a BPM in accordance with exemplary embodiments of the present invention.

Figure 4 is a block diagram of an ATM which includes or which is coupled to a BPM in accordance with a second exemplary embodiment of the present invention.

Figure 5 is an illustration of an exemplary bill suitable for use with the present invention.

Figure 6 is a flowchart diagram which illustrates an exemplary embodiment of the present invention.

Figure 7 is a flowchart diagram which illustrates a further exemplary embodiment of the present invention. Figure 8 is a block diagram of an ATM which includes or which is coupled to a BPM in accordance with an exemplary embodiment of the present invention.

DETAILED DESCRIPTION OF THE PRESENT INVENTION

Figure 1 is an illustration of a bill paying machine 150 used with an automated teller machine 100 in accordance with an exemplary embodiment of the present invention. Automated teller machines (ATMs) are well know in the art. ATMs are also referred to as cash dispenser machines, because, in certain instances, the machines dispense cash (although some machines simply signal the transfer or release of funds). Automated teller machine 100 is exemplary of typical ATMs found in banks, malls and supermarkets. Display 110 provides a user with instructions and account information. Display 110 also displays messages requesting that the user enter instructions. Keyboard 120 includes a numerical keypad so that the user may enter the amounts to be associated with particular transactions. A portion of keyboard 120 is located on both sides of display 110. This portion of the keyboard allows the user to enter instructions which correspond to messages appearing on display 110 adjacent to each of these keys. Card reader 130 receives an identification card (such as a debit card or a credit card). The identification card includes an identification number which is read by the card reader. The identification number may be used to identify the user's various accounts. Printer 140 provides written confirmation that the transaction requested by the user has been processed and may also be used for printing checks (as more clearly described below). In an alternative embodiment of the present invention, bill paying machine 150 includes its own printer (not shown in Figure 1) for printing the results of the transaction directly on the bill. In a further alternative embodiment of the present invention, bill paying machine 150 is integrated into automated teller machine 100 to provide a single unit with bill paying capabilities. Cash dispenser 160 (if included) dispenses the currency requested by the user (subject, or course, to account availability). An optional receiving unit (not shown) may also be included to receive deposits. Figure 2 is a block diagram of ATM 100 which includes or which is coupled to BPM 150 in accordance with a first exemplary embodiment of the present invention.

As shown in Figure 2, ATM 100 is constructed of a card reader 130, display 110, keyboard 120, clerk key 7, and memory 8 with expansion circuit 9, all connected to a controller 1.

Card reader 130 may be constructed of a magnetic stripe reader/writer 130a and optionally of an optical reader 130b. The optional optical reader 130b is constructed of a light source (not shown) for applying light to an identification card, and an image sensor (not shown) for taking an image of surface information of the identification card (such as embossed characters).

Using magnetic reader 130a, it is possible for controller 1 to obtain data stored in a magnetic strip on the identification card upon insertion of the card into the ATM.

Display 110 and keyboard 120 in combination function as input/output means 105. Display 110 and keyboard 120 may be constructed of a cathode ray tube and mechanical keys, respectively. Alternatively, display 110 and keyboard 120 may be replaced with a touch sensitive screen.

Printer 140 is comprised of document printer 142 and internal printer 145. Document printer 142 provides the user of ATM 100 with a record of the transaction that has occurred by printing on paper received from receipt feed 143. In an alternative embodiment of the present invention, document printer 142 also prints checks (as more clearly described below) by printing on paper (e.g., check paper) received from check feed 144. Alternatively, checks are printed separately from optional check printer 170. Internal printer 145 maintains an internal record of all transactions which have occurred on ATM 100.

Cash dispenser 160 pays money in notes.

Clerk key 7 is not used during an ordinary cash transaction by a customer, but is used by a clerk for maintenance or service of the machine, search of transaction records upon occurrence of transaction failure, and the like. Controller 1 of ATM 100 may be provided with a compression/ expansion circuit 8 for data expansion with memory 8. Magnetic stripe data read by magnetic reader 130a is stored in memory 8 and may be compressed, if desired, for subsequent expansion by expansion circuit 9 before being received by controller 1 for later use.

ATM 100 may be connected to a central computer (not shown) via line control unit 19. The connection between the central computer and line control unit 19 may be a telephone line. Line control unit 19 may thus include a modem for accomplishing communication. The central computer may include such information as past transaction history, account numbers, account balances, funds availability, account numbers for stolen identification cards, etc. The central computer may also be operated by a financial institution and may receive instructions relating to, for example, the transfer of funds from the user's bank account to the bill payee's account. The central computer may also manage funds for several financial institutions. Transaction data is thus transferred between line control unit 19 and the central computer. The data can either be transferred each time a transaction occurs or in batch form.

Supervisory line control unit 18 is also coupled to controller 1 for communicating with a supervisor center. The supervisor center communicates with ATM 100 for monitoring individual transactions and for receiving indications of transaction failures (a questionable identification card, occurrence of a jam, etc.). Because the connection between the supervisor center and supervisory line control unit 18 may also be by telephone, supervisory line control unit 18 may also include a modem for accomplishing communication.

The central computer may also be located at the supervisor center and ATM 100 may communicate with both using a multi-channel communications connection.

The design of ATM 100 described above is well known in the art and is described, for example, in U.S. Patent No. 5,010,238 which is incorporated herein by reference for its teachings on ATM design. There are numerous other U.S. patents providing the implementation details of ATMs and the details of such implementations will not be described here. ATM 100 as shown in Figure 2 differs from other ATMs known in the art in that ATM 100 includes or is coupled to Bill Paying Machine (BPM) 150. Figure 3 is a perspective drawing of bill paying machine 150 and Figure 4 is a block diagram of BPM 150. Bill paying machine may include optional external casing 152. Opening 155 is also included for receiving the bill. Scanner 156 is situated above the bill. In an exemplary embodiment of the present invention, scanner 156 may be a bar code scanner. Bar code scanners are well known in the art and are manufactured, for example, by Symbol Technologies, Inc., New York. Printer 154 (e.g., a laser printer) may optionally be included. Printer 154 may be used for printing the results of the transaction directly on the bill.

In operation, a customer receives a financial transaction document such as a bill and wishes to pay this bill using BPM 150. BPM 150 then obtains information from the bill so that the bill may be paid. An exemplary bill suitable for use with BPM 150 is shown in Figure 5. As shown in Fig 5, bill 500 includes bar code 520. In an exemplary embodiment of the present invention, bar code 520 is situated within a predetermined sector on bill 500 to facilitate bar code scanning. Bar code 520 may be used for representing financial transaction or billing data such as invoice number, account number, financial transaction (bill) amount, vendor identification (i.e. an identification number which uniquely identifies the bill payee and an identification number which uniquely identifies the financial institution which will receive the bill payee's payments), and due date. Bar codes can be included with numerous types of documents where payment is required, such as bills, payment books, tax notices, and lease documents. Thus, many kinds of payments can be made in accordance with the present invention. An optional field 510 is provided in which the results of the transaction are printed.

Bill 500 is inserted into slot 155 of BPM 150 so that bar code 520, for example, may be scanned. The billing data retrieved from bar code 520 may be used to determine the bill payee. Using screen 110, the user is then asked if he wishes to pay all or part of bill 500. If the user answers in the affirmative, the central computer receives authorization to pay the bill. The user's financial institution (or a financial institution which manages funds for the user's financial institution) may then receive instructions from the central computer to transfer the appropriate funds from the user's account to the bill payee's account within the financial institution identified by bar code 520. Returning again to Figure 2, BPM 150 is coupled to controller 1 using a simple I/O card. Controller 1 (as in many ATMs) resembles a personal computer. As such, controller 1 includes slots which are filled with I/O boards (to communicate, for example with display 110, keyboard 120, magnetic reader 130a, cash dispenser 160, etc.) and slots which are empty and which can receive I/O boards. One such slot can be used to receive an I/O board for communicating with BPM 150.

Figure 6 is a flowchart diagram which illustrates operation of an exemplary embodiment of the present invention. At step 610, ATM 100 is provided with the user's identification. This may comprise, for example, inserting an identification card (not shown) into card reader 130a. Alternative forms of identification (e.g., fingerprint detection, retinal or iris scanning, voice recognition, etc.) may also be used. At optional step 620, ATM 100 provides the user with a request, via display 110, to enter an identification code. This may be accomplished, for example, by entering a code using keypad 120. Next, in one exemplary embodiment of the present invention, the user is offered various options for proceeding at step 630. This may be accomplished, for example, by displaying a menu on display 110. The user selects the appropriate choice. In an exemplary embodiment of the present invention, these choices may include "make a deposit", "make a withdrawal", "pay a bill" and "print a check". At step 640, if the "pay a bill" option has been selected, then at step 650, the user is prompted to insert the bill into opening 155 and bar code 520 is scanned. Bill 500 is desirably entered into opening 155 so that scanner 156 can scan bar code 520. Otherwise, processing proceeds to step 705 in Figure 7 via offpage connector A. Returning to step 620, in an alternative embodiment of the present invention, after the identification code is received (or after the user's identification is received if no identification code is required), a message is displayed on display 110 telling the user to insert a bill in opening 155 if bill payment is required. At step 635, if scanner 156 (or some other type of object detector) detects a bill in opening 155, then processing proceeds to step 650 where bill scanning occurs. Otherwise, processing proceeds to step 630 as explained above.

As previously described, bill scanning is accomplished by scanner 156. If bar code scanning methodology is being used, then bar code 520 is desirably placed at an appropriate location on the bill so that bar code scanner 156 can indeed scan the bar code. It is understood to one of ordinary skill in the art that other forms of data input (e.g., character recognition) may be used to obtain the billing data from the bill.

After the bill has been scanned and the bill identification information is obtained, then, at step 660, the user is asked whether he wishes to pay the bill. This may be accomplished by providing an appropriate message on display 110. An exemplary message would be:

THIS IS A BILL DATED JANUARY 21, 1996 FROM INTERMOUNTAIN POWER AND LIGHT, THE INVOICE NUMBER IS 359712, THE AMOUNT

DUE IS $57.81. IF YOU WISH TO PAY $57.81 , PRESS [YES], IF NOT, ENTER THE AMOUNT YOU WISH TO PAY AND PRESS [ENTER].

At step 670, the user indicates that the bill (or some other amount, e.g., a portion thereof or more than the bill total) is to be paid. The user may respond, for example, by pressing a YES key on keyboard 120 in response to the query set forth above.

At step 680, the ATM transmits an appropriate signal to the central computer via line control unit 19 to pay the bill for the amount indicated. In one exemplary embodiment of the present invention, the user's financial institution (or a financial institution which is managing the account for the user's financial institution) receives instructions from the central computer that the amount of the bill from the users checking account is to be withdrawn. Assuming the user's account has sufficient funds for this withdrawal, this amount is then electronically transferred to the bill payee's financial institution (by either the central computer, the user's financial institution or the financial institution which is managing the account for the user's financial institution) along with the information required to identify the bill payee's account and to identify the bill which is being satisfied by this electronic transfer. This information may be conveyed by E-mail, for example, in a standardized format. The account number and identification of the bill payee and the bill payee's financial institution may be obtained from the financial transaction data contained within bar code 520. The electronic transfer of funds between the financial institutions is well known in the art. At step 690, the present invention provides a confirmation message to the user that the bill has been paid. This may be accomplished in any (or all) of three ways. First, bill payment machine 150 may optionally include a printer (e.g., a laser printer) 154. Printer 154 may print a confirmation message that the bill has been paid in a predetermined location 510 on the bill 500 as shown in Figure 5. In an alternative embodiment of the present invention, the bill is scanned for a blank location (i.e. a location where text does not appear) and the confirmation message is printed at that location. ATM 100 may also provide a printed confirmation that the bill has been paid using printer 140 which is included in ATM 100. A message confirming payment of the bill may also occur on display 110.

Regardless of how the confirmation message is provided, the confirmation message is desirably provided after the central computer (or the user's financial institution via the central computer) has been signaled to perform the transaction and the central computer signals back to ATM 100 that sufficient funds are available to complete the transaction.

After payment has been confirmed, processing proceeds to just prior to step 630 where, depending upon the embodiment that has been implemented, the user is provided with further options or, at step 632, the user is given the option to insert an additional bill into opening 155.

An alternative embodiment of the present invention is accomplished by proceeding to Figure 7 via offpage connector A. In this alternative embodiment, the ability to dispense checks is provided. Thus, in step 630 of Figure 6, one of the options which may be offered to the user is the option to print a check. The user may also be offered the option of printing several types of checks, including the following:

1) Blank Payee Check: This is a check which is printed with a monetary amount selected by the customer. A blank space is allocated on the check so that the payee's name may be written in by hand.

2) Preprinted Payee Check: This is a check in which again, the monetary amount has been printed on the check. Also, the name of the payee has been preprinted on the check. This may be accomplished, for example, using an alpha-numeric input device such as a keyboard (not shown).

3) Traveler's Check: This is a check which may be received by anyone. Optionally, the user requesting the check signs the check one time after the check has been dispensed by BPM 150 and an additional time when the check is given to a merchant.

In any of the checks described above, the user may sign the check or the user's signature (or some other authorizing signature) may be printed on the check using, for example, laser printing technology. Furthermore, any of the checks specified above may have an appearance similar to a personal check or an appearance similar to a bank (or certificed or cashier) check.

Referring now to Figure 7, at step 705, if the "print check" feature has not been selected by the user, then processing proceeds to step 710 to perform the alternative user requested function (withdraw, deposit, etc.). Otherwise, at step 705, if the "print check" feature has been selected, then processing proceeds to step 715. At step 715, the user is requested to enter the amount (i.e., the value) of the check. This request may be made, for example, via display 110. In one embodiment of the present invention, where only one of the three exemplary types of checks described above is dispensed, processing proceeds to step 725. At step 725, ATM 100 transmits a signal to the central computer to release the funds which correspond to the amount of the check. In another embodiment of the present invention, processing proceeds from step 715 to step 720 where the user is requested to select either a blank payee check, a preprinted payee check, or a Traveler's Check. The user may be given this request at step 720 if the request is not included with the other requests at step 630. After step 720 has been executed, processing proceeds to step 725 so that the financial institution which is managing the account can be signaled to release the funds corresponding to the amount of the check. Finally, at step 730, a check is printed and is dispensed to the user for the user's personal use. In one embodiment illustrated by Figure 2, this check is generated by providing check paper from check feed 144 to document printer 142 for subsequent printing of the check. In another embodiment illustrated by Figure 2, a separate check printer 170 receives the check paper and prints the check. In either embodiment, a copy of the check may also be printed and provided to the user for record keeping purposes.

A further exemplary embodiment of the present invention is shown in Figure 8. As shown in Figure 8, BPM 150 is not connected to controller 1. In some situations, if controller 1 is unable to communicate with additional I/O boards, it may be undesirable to connect BPM 150 directly to controller 1. Thus, BPM 150 has been connected to line control unit 19. In other words, controller 1 communicates with BPM 150 through line control unit 19. In the first embodiment of the present invention, line control unit 19 was described as including a modem for communicating with the central computer. In the alternative embodiment, if line control unit 19 is communicating with both the central computer and BPM 150, a multi-drop modem may be required since BPM 150 and the central computer both communicate with line control unit 19 over the same telephone line. To the user, operation of BPM 150 would appear to be identical as in the previously described embodiment of the present invention. A separate check printer 170 may also be included in BPM 150. Because BPM 150 is connected to the telephone line, however, BPM 150 would desirably include a modem for communicating with line control unit 19. In this embodiment , BPM 150 or ATM 100 may transmit the signal to the central computer authorizing the release of funds. Also in this embodiment, a check printer is optionally included in BPM 150. Check printer 170 may be available to print and dispense checks.

The embodiment shown in Figure 8 may be suitable for an implementation of the present invention in which the ATM machine and the BPM machine are separate physical units. Thus, the embodiment shown in Figure 8 may be particularly useful when the BPM is used with a pre-existing ATM (with modified software). By contrast, the embodiment shown in Figure 2 may be suitable for an implementation of the present invention in which the ATM machine and the BPM machine are combined into a single integrated unit to result in an ATM machine which includes a BPM machine. Thus, the embodiment shown in Figure 2 may be particularly useful when it is desired to install a new ATM with bill payment and/or check printing abilities. The above description has described the release of funds from a user's account. This account may be, for example, a debit account such as a checking account where the user has a positive balance in this account and the value of the account is decremented as funds are released (i.e., transferred away from) the account. A credit account may also be used. Thus, the funds may be released on credit. The user may thus periodically receive a statement indicating the total amount of funds which have been released by the financial institution. The user is then expected to repay the financial institution for what is, in effect, a loan.

The present invention offers numerous advantages over the present method of satisfying a bill by mailing a check to the bill payer through the Postal Service. The user saves money because postage is not required. In addition, many checking accounts have a per check charge. By using the present invention, the per check charge is avoided. The system can be used 24 hours a day, 7 days a week (subject to ATM availability). In addition, the user has a printed receipt proving that the bill has been paid. The bill payee (e.g., the electric company) saves the expenses involved in processing a check when the check is paid by mail. Furthermore, the bill payee has to wait for the Postal Service to deliver the check and for the check to clear so that they can receive their money. With the present invention, everything is done electronically, instantaneously, or within a matter of hours if batch processing is used. All administrative work is automated. Furthermore, a transaction conducted using the present invention cannot bounce like a check. If there are insufficient funds in the user's checking account to complete the transaction, the financial institution is not signaled to complete the transaction and the user may be provided a message (via display 110) to this effect. Finally, the financial institution saves the costs involved in not processing a check. Furthermore, the financial institution can charge the bill payer (or bill payee, or both) a nominal sum for electronically processing the payment.

It is understood that the billing paying function (where bills are scanned) may be implemented without the check printing function, the check printing function may be implemented without the bill paying function, or the bill paying function and the check printing function may be both implemented. While preferred embodiments of the invention have been shown and described herein, it will be understood that such embodiments are provided by way of example only. Numerous variations, changes and substitutions will occur to those skilled in the art without departing from the spirit of the invention. Accordingly, it is intended that the appended claims cover all such variations as fall within the spirit and scope of the invention.

Claims

What is Claimed:

1. Apparatus, for use with an automated teller machine (ATM), for paying bills, comprising:

scanning means for scanning a bill and for obtaining financial transaction data which includes at least one of

a) invoice number

b) vendor identification;

c) financial transaction amount;

display means for providing a request to pay at least a portion of said bill; and

means for receiving a response to said request and for signaling a financial institution to pay a bill payee at least a portion of said financial transaction amount responsive to said response.

2. A cash dispenser machine comprising:

scanning means for scanning a bill and for obtaining financial transaction data which includes at least one of:

a) a financial transaction identification number;

b) a financial transaction payee; and

c) a financial transaction amount;

means for receiving a response to said request and for signaling a financial institution to pay said bill payee at least a portion of said bill amount responsive to said response.

3. Apparatus according to claim 1 , wherein said scanning means comprises a scanner which reads indicia on said bill to obtain said bill data.

4. Apparatus according to claim 1 , wherein said display means includes a display screen which displays a message requesting authorization for payment of at least a portion of said bill.

5. Apparatus according to claim 2, wherein said scanning means comprises a scanner which reads a bar code on said bill to obtain said financial transaction data.

6. Apparatus according to claim 2, wherein said display means includes a display screen which displays a message requesting authorization for payment of at least a portion of said bill.

7. A method of paying bills from an automated teller machine (ATM), comprising the steps of:

a) receiving identification information from a user of the ATM

b) scanning a bill to obtain at least one of:

1) a financial transaction identification number;

2) a financial transaction payee; and

3) a financial transaction amount;

c) providing said user with a request to pay at least a portion of said bill;

d) receiving authorization to pay at least a portion of said financial transaction amount; and

e) signaling a financial institution to pay said bill payee at least a portion of said financial transaction amount.

8. A method according to claim 7, wherein said portion of said financial transaction amount is removed from said user's account.

9. A method of paying bills from an ATM according to claim 7, wherein step a) comprises the steps of:

inserting an ATM card into said ATM

obtaining identification information from said ATM card.

10. A method of paying bills from an ATM according to claim 7, wherein step b) includes the step of:

scanning a bar code on said bill to obtain at least one of said financial transaction identification number, said financial transaction payee, and said financial transaction amount.

1 1. A method of fund transfer using an automated teller machine (ATM) comprising the steps of:

receiving identification information from a user of the ATM;

scanning a financial transaction document for both identification and financial transaction data; and

transmitting signals to perform financial transaction transfer base upon said scanning.

12. An automated teller machine comprising:

payment means for a customer with a monetary account managed by a financial institution to indicate that payment is to be made;

physical medium means for processing a physical medium which identifies said payment; payment accomplishment means, to accomplish said payment, for one of a) receiving said physical medium and b) dispensing said physical medium; and

signaling means for signaling said financial institution to release funds for said payment based upon said monetary account.

13. An automated teller machine according to claim 12, wherein said monetary account is a debit account.

14. An automated teller machine according to claim 12, wherein said monetary account is a credit account.

15. An automated teller machine according to claim 12, wherein said physical medium means includes a scanner, said physical medium is a bill, and said scanner scans said bill to obtain financial transaction data which includes at least one of:

a) a financial transaction identification number;

b) a financial transaction payee; and

c) a financial transaction amount.

16. An automated teller machine according to claim 12, wherein said physical medium means includes a printer, said physical medium is a check, and said printer prints said check with a monetary value corresponding to said funds released by said financial institution.

17. An automated teller machine according to claim 12, further comprising means for said customer to indicate a payee, wherein said printer prints said check payable to said payee.

18. An automated teller machine according to claim 12, wherein said printer prints said check payable to any payee.

19. An automated teller machine according to claim 12, wherein said payment means further comprising cash dispensing means for dispensing cash from said monetary account to said customer responsive to a request received by said automated teller machine is dispense said cash.

20. Apparatus, for use with an automated teller machine, comprising:

payment means for a customer with a monetary account in a financial institution to indicate that payment is to be made;

physical medium means for processing a physical medium which identifies said payment;

payment accomplishment means, to accomplish said payment, for one of a) receiving said physical medium and b) dispensing said physical medium ; and

21. Apparatus according to claim 20, wherein said payment means receives said indication that payment is to be made from a data entry device included in said automated teller machine.

22. Apparatus according to claim 20, wherein said physical medium is a check dispensed from a printer included in said automated teller machine.

23. A method of providing for payment comprising the steps of:

receiving from a customer with a monetary account in a financial institution an indication that payment is to be made;

receiving an indication that one of: a) a first physical medium is to be received to accomplish said payment; and

b) a second physical medium is to be dispensed to accomplish said payment;

receiving said first physical medium if said indication indicates that said first physical medium is to be received;

dispensing said second physical medium if said indication indicates that said second physical medium is to be dispensed; and

signaling said financial medium to release funds for said payment responsive to said indication.

24. A method of providing for payment, comprising the steps of:

receiving identification from a user with a monetary account in a financial institution;

receiving from said user a request to release funds from said monetary account with a value.

signaling said financial institution to release said value from said monetary account;

printing a check for said value and providing said check to said user.

25. An automated teller machine comprising:

physical medium means for receiving a physical medium which is used to identify said payment and which is used to satisfy said payment;

payment accomplishment means, to accomplish said payment, for completing printing of a check on said physical medium and for dispensing said physical medium; and signaling means for signaling said financial institution to release funds for said payment based upon said monetary account.