A practical system and method for the remote distribution of financial
services (e.g., home banking and bill-paying) involves distributing
portable terminals to a user base. The terminals include a multi-line
display, keys "pointing to" lines on the display, and additional keys.
Contact is established between the terminals and a central computer
operated by a service provider, preferably over a dial-up telephone line
and a packet data network. Information exchange between the central
computer and the terminal solicits information from the terminal user
related to requested financial services (e.g., for billpaying, the user
provides payee selection and amount and his bank account PIN number). The
central computer then transmits a message over a conventional ATM network
debiting the user's bank account in real time, and may pay the specified
payees the specified amount electronically or in other ways as
appropriate. Payments and transfers may be scheduled in advance or on a
periodic basis. Because the central computer interacts with the user's
bank as a standard POS or ATM network node, no significant software
changes are required at the banks' computers. The terminal interface is
extremely user-friendly and incorporates some features of standard ATM
user interfaces so as to reduce new user anxiety.