System and method for checkless cash advance settlement

A method for executing a checkless cash advance settlement at a gaming machine, comprising:

• (a) initiating a debit or credit POS cash transaction via a terminal with a credit/debit card, wherein the terminal comprises a gaming machine;
• (b) authorizing the debit or credit POS cash advance transaction;
• (c) providing, for the transaction initiated at the terminal, an identification of a customer and the credit/debit card to an attendant with a remote control unit;
• d) validating the identification of the customer and the credit/debit card presented to the cashier or attendant;
• e) completing the transaction upon validation of the identification, including dispensing cash requested in the debit or credit POS cash advance transaction to the customer;
• f) presenting a transaction receipt to the customer, wherein the transaction receipt is a non-negotiable instrument providing proof of cash dispersal;
• g) obtaining a customer signature on the transaction receipt to confirm the transaction;
• h) storing the transaction receipt, wherein the transaction receipt is stored electronically;
• i) recording the transaction information, including recording a electronic image of the transaction receipt on a central server;
• and
• j) generating an ACH file containing all the cash advance transactions completed for a predetermined specified settlement period and electronically transmitting the ACH file to a designated financial institution for processing and successive posting of the deposits.