Half a croissant, on a plate, with a sign in front of it saying '50c'
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Multi-User ATM transfers

 transfer money to you friends or between banks
 
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Other than people like my father who puts more stock in the postal service delivering his retirement check on time than electronic direct deposit working without a glitch (he is retired from the post office after all). Most of the people I know have direct deposit and of course an ATM card. The problem is there is no good way to transfer electronic funds between friends.

Let’s say we went out to lunch last week and I was broke. You kindly bought me a cheeseburger which I gladly want to pay you back for on Tuesday. Why couldn’t we go to an ATM and I swipe my card and enter my PIN. I select “Transfer Out”. The machine prompt for the second card/PIN and the money moves to my friend regardless of what bank he has his account with.

This would also work great for people like me who keep most of there savings in a credit union but spending money and the like in the local bank. On many occasions, I which I had a way to move money from one bank to the other.

—crabbie, Jan 17 2003

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[futurebird, Oct 04 2004, last modified Oct 05 2004]

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       this might make some sort of sense if you could do this while at different ends of the country, different banks, different times. if you are together anyway and its just the price of a cheeseburger - then give him/her the cash.
—po, Jan 17 2003
   

       Banks like to talk about how all the obsolete paper stuff (checks, sending statements, paper money, Susan B. Anthony coins, etc.) are costing them a fortune to process and mail, but then whenever an electronic function comes along that is totally automated and you (the customer) do all the button-pushing (ATMS, on-line banking, etc.), they charge you out the butt. My bank just quoted me $90 a month for online banking on my business account so I could keep better track of incoming direct deposits from my merchant account.   

       Croissant! Power to the people!
—resurgere, Jan 17 2003
   

       Okay, I know Susan B. Anthony coins aren't paper. Just got carried away, I guess.
—resurgere, Jan 17 2003
   

       make it international and it gets my vote.
—po, Jan 17 2003
   

       Apart from the "reading the details off your friend's ATM card" this is already baked on my [UK] bank account.   

       As long as I'm prepared to register my friend's sort code and account number in advance, I *can* walk up to one of my bank's ATMs (or call their telephone service, or use their web site) and transfer cash from my account into theirs.   

       James
—JKew, Jan 17 2003
   

       This is a brilliant idea! Where I live the banks are stuck in a 50's time warp. They close at 4pm, dont open at all on saturdays and it just took them 23 days to transfer money from one of my accounts to another. It has also been 5 weeks since I ordered an ATM card though so I couldnt use this service yet.   

       Saying that though...I wouldn't use this for tiny sums (Cheeseburger) as there would very probably be a charge, and anyway, anyone who wants paying back for a cheeseburger in the first place is tight as a crabs arse.
—squeak, Jan 18 2003
   

       There are two US and international patents exist for transferring funds between ATMs. The one is US Pat. Number 5,937,396 is mine and the other has been licensed to Western Union , First Data Corporation by EDS. I'm sueing Western Union , First Data and their attorney firm, because they foully traded on me. A court decesion is expected by September-October and most probably the jury will transfer me the full patent rights of the EDS's patent for outside of the US. I'm writing all of this, because I established Hyper-Cash Bank to achieve the patent and hold recepients' deposits and we need contracts with other banks to join their ATM networks to our processing centre. If anyone who likes this service, could bring us contracts with banks , gains a fair percentage from our interbank ATM transfers.   

       Arpad Konya President, Hyper-Cash Bank www.hypercashbank.com hypercashbank@hushmail.com
—Arpad Konya, May 23 2003
   

       mmmm cheeseburger.
—bungston, May 23 2003
   

       Hi, that's a good service. For me it would certainly work and that's why I would like to work together with you as discussed yesterday. Let's talk!
—euronet, Jun 18 2003
   
      
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