Secure, automated transaction system that supports an electronic currency operating in mixed debit & credit modes

An electronic money system;

• using transaction packets as its medium-of-exchange said packets being comprised of digital bytes that specify the transaction amount, type of transaction, settlement routing, nationality of base currency, and system security;
• is comprised of:
• personal terminals, automated and semi automated vendor terminals, and an electronic banking network consisting of PACs, VACs, HBTs, and clearinghouses;
• said
• personal terminal being comprised of a receiver/transmitter, running debit and credit account registers, crypto crediting entry gate, liquid crystal display, and button switches that configure terminal to conduct a variety of transactions or to display running account balances;
• said
• vendor terminal being comprised of a receiver/transmitter, transaction amount entry means, memories, modem, and display;
• said
• vendor account custodian terminal being comprised of apparatus that periodically receives vendor's transaction packets from which it credits vendor's account and forwards said packets to designated PACs;
• said
• electronic clearinghouse being comprised of means to direct transaction packets from the various VACs to their specified personal account custodians;
• said
• personal account custodian terminal being comprised of means to receive and store individual transactions, means to debit individual running accounts using said transaction information, means to credit running accounts from cash deposits, means to generate crypto entry codes to gain crediting access to PT's running accounts, means to interact with PT via its homebase terminal, and means for detecting and pinpointing fraud, malfunction or error;
• and said
• homebase terminal being comprised of means for interfacing a telephone line to said PT to provide a convenient entry point into the electronic banking system.