Method for fully automated electronic transfer of funds in cash or cash equivalent and system for thereof

摘要

Method for fully automated electronic transfer of funds in cash or cash equivalent between a sender and a recipient including an initiating terminal for receiving a designation of an amount of money to be electronically transferred, identification of an account from which it is to be transferred, and receiving a security code from the sender, executed by initiating terminal (110, 115, 120, 125). Method further including storing amount of money to be transferred and the security code in a file in the central terminal (140), and finally receiving entry information corresponding to the designated amount of money to be transferred and the security code executed by dispensing terminal (180), for providing the entered amount of money and security code to the central terminal (140) for comparison with the information stored in the central terminal's file and for dispensing to the recipient funds equivalent to the designated amount of money without requiring the recipient to have a card to activate the dispensing terminal (180).