ATM machine and methods with currency conversion capabilities
View Patent ↗Methods, systems, and Automated Teller Machines (ATMs) are disclosed which provide ATM currency conversion capabilities. In one embodiment, a financial account number associated with a financial account maintained by a customer at a financial institution is received, a foreign currency type associated with the financial account is determined, and a choice is presented to the customer at the ATM to conduct a financial transaction in the foreign currency type. A currency selection is received from the customer and at least a portion of the financial transaction is conducted at the ATM in the selected currency.
1. A method comprising:
receiving, at an Automated Teller Machine (ATM) a financial account number associated with a financial account maintained by a customer at a financial institution;
determining a foreign currency type associated with the financial account;
at the ATM, presenting to the customer a choice to conduct a financial transaction in the foreign currency type;
receiving a currency selection from the customer; and
conducting at least a portion of the financial transaction at the ATM in the selected currency, wherein determining the foreign currency type associated with the financial account comprises:
obtaining an identifier portion of the financial account number; and
determining a country associated with the financial institution using the identifier portion, and
wherein determining the country comprises comparing the identifier portion to a lookup table, the lookup table associating financial institution identification numbers to a country; and
wherein determining the currency type further comprises comparing the identifier portion to an exception table associating financial institution identification numbers to a country different than the one indicated in the lookup table.
2. The method of claim 1 , wherein obtaining an identifier portion comprises determining a bank identification number (BIN) portion of the financial account number.
3. The method of claim 1 , wherein receiving the currency selection comprises receiving a selection indicating the foreign currency type.
4. The method of claim 3 , wherein conducting at least a portion of the financial transaction comprises receiving a withdrawal amount in the foreign currency type.
5. The method of claim 4 , wherein conducting at least a portion of the financial transaction further comprises:
obtaining an exchange rate to convert the foreign currency type to a native currency type associated with the ATM;
converting the withdrawal amount to the native currency type.
6. The method of claim 5 , further comprising presenting the converted withdrawal amount to the customer.
7. The method of claim 6 , further comprising displaying the exchange rate to the customer.
8. The method of claim 6 , further comprising receiving a confirmation from the customer to proceed with the transaction.
9. The method of claim 6 , further comprising presenting an account balance in the foreign currency type indicating the balance of the financial account after the withdrawal.
10. The method of claim 5 , further comprising modifying the converted withdrawal amount to be a denomination amount supported by the ATM for withdrawal.
11. The method of claim 10 , wherein modifying the converted withdrawal amount comprises rounding the converted withdrawal amount to the nearest denomination amount supported by the ATM for withdrawal.
12. The method of claim 10 , wherein modifying the converted withdrawal amount comprises receiving a modification choice from the customer to one of increase the withdrawal amount or decrease the withdrawal amount.
13. The method of claim 10 , further comprising displaying the modified withdrawal amount to the customer.
14. The method of claim 13 , further comprising:
converting the modified withdrawal amount to the foreign currency type;
presenting the converted modified withdrawal amount to the customer.
15. The method of claim 3 , wherein conducting at least a portion of the financial transaction further comprises:
receiving a withdrawal amount in a native currency type associated with the ATM;
obtaining an exchange rate to convert the native currency type to the foreign currency type;
converting the withdrawal amount to the foreign currency type; and
displaying the converted withdrawal amount to the customer.
16. The method of claim 15 , further comprising displaying the exchange rate to the customer.
17. The method of claim 15 , further comprising receiving a confirmation from the customer to proceed with the transaction.
18. A method comprising:
receiving, at an Automated Teller Machine (ATM) network, a request from an ATM to obtain a currency exchange rate to convert from a first currency to a second currency;
obtaining the currency exchange rate;
providing the currency exchange rate to the ATM;
receiving, at the ATM network, an identifier from the ATM, the identifier identifying a financial institution associated with a financial account;
using the identifier to determine a currency type associated with the financial institution;
providing the currency type to the ATM; and
wherein using the identifier comprises comparing the identifier to a list of identifiers in the lookup table; and
wherein determining the currency type further comprises comparing the identifier to an exception table associating financial institution identification numbers to a country different than the one indicated in the lookup table.
19. The method of claim 18 , wherein obtaining the currency exchange rate comprises obtaining the currency exchange rate from a currency recognition and exchange service.
20. A method comprising:
receiving, at an Automated Teller Machine (ATM) a financial account number associated with a financial account maintained by a customer at a financial institution;
determining a foreign currency type associated with the financial account;
at the ATM, presenting to the customer a choice to conduct a financial transaction in the foreign currency type;
receiving a currency selection from the customer;
conducting at least a portion of the financial transaction at the ATM in the selected currency,
wherein determining the foreign currency type associated with the financial account comprises:
obtaining an identifier portion of the financial account number;
determining a currency associated with the financial institution using the identifier portion; and
wherein determining the currency comprises comparing the identifier portion to a lookup table, the lookup table associating financial institution identification numbers to a currency; and
wherein determining the currency type further comprises comparing the identifier portion to an exception table associating financial institution identification numbers to a country different than the one indicated in the lookup table.