Personal credit accounting system - operates by recording debit and credit transactions in magnetic memory with security key or access code

摘要

The personal credit accounting system, allowing goods and services to be charged to a credit account, has each user supplied with a portable magnetic memory device, for recording credit and debit transactions. Each memory device has a key or access code, for preventing its use by anyone but the authorised user. Each magnetic memory can be removed from the respective device for use by the bank etc in determining the credit standing of the user's bank balance. Two identical memories may be recorded simultaneously, to allow the user to retain a copy for checking the bank figures.