Method and system for performing money transfer transactions

• US 20030083987A1
• Filed: 11/07/2002
• Published: 05/01/2003
• Est. Priority Date: 10/26/1999
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Seifert, Dean A., Stoutenburg, Earney E.
• Granted Patent: US 6,761,309 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

A method of performing a send money transfer transaction through a financial services institution includes storing transaction details on a data base, wherein the transaction details include a desired amount of money to be sent; establishing a code that corresponds to the transaction details stored on the data base; entering the code into an electronic transaction fulfillment device in communication with the data base to retrieve the transaction details from the data base; and determining a collect amount based on the transaction details. A system for performing a send money transfer transaction is also disclosed.

Claims

1. A method of performing a send money transfer transaction through a financial services institution, the method comprising:

storing transaction details on a data base, wherein the transaction details include a desired amount of money to be sent;

establishing a code that corresponds to the transaction details stored on the data base;

entering the code into an electronic transaction fulfillment device in communication with the data base to retrieve the transaction details from the data base; and

determining a collect amount based on the transaction details.

2. The method of claim 1 further comprising providing a customer direct access to the data base through an electronic staging device in order to receive the transaction details from the customer.

3. The method of claim 1 further comprising providing a customer direct access to an employee of the financial services institution in order to receive the transaction details from the customer.

4. The method of claim 3 wherein providing a customer direct access to an employee of the financial services institution comprises providing an access card to the customer that may be used on an electronic staging device to initiate a video conference with the employee.

5. The method of claim 1 wherein establishing a code comprises providing a numeric code, and wherein entering the code comprises entering the code on a numeric key pad of the electronic transaction fulfillment device.

6. The method of claim 1 wherein establishing a code comprises providing the code on an electronically readable card, and wherein entering the code comprises introducing the card into a card reader of the electronic transaction fulfillment device.

7. The method of claim 1 wherein establishing a code comprises printing the code using an optical character recognition font.

8. The method of claim 1 wherein establishing a code comprises printing the code using magnetic ink.

9. The method of claim 1 wherein establishing a code comprises establishing the code as a voice print, and wherein entering the code comprises entering the voice print into the electronic transaction fulfillment device using a voice scanner.

10. The method of claim 1 wherein establishing a code comprises establishing the code as an anatomical image, and wherein entering the code comprises entering the anatomical image into the electronic transaction fulfillment device using an image scanner.

11. The method of claim 1 wherein establishing a code comprises establishing the code as a fingerprint, and wherein entering the code comprises entering the fingerprint into the electronic transaction fulfillment device using a fingerprint scanner.

12. The method of claim 1 wherein establishing a code comprises establishing the code as a retinal image, and wherein entering the code comprises entering the retinal image into the electronic transaction fulfillment device using a retina scanner.

13. The method of claim 1 wherein establishing a code comprises establishing the code as a facial image, and wherein entering the code comprises entering the facial image into the electronic transaction fulfillment device using a face scanner.

14. The method of claim 1 wherein establishing a code comprises providing the code through an employee of the financial services institution.

15. The method of claim 1 wherein establishing a code comprises establishing the code through an electronic transaction staging device.

16. The method of claim 15 wherein the electronic transaction staging device and the electronic transaction fulfillment device, are the same.

17. The method of claim 1 wherein the electronic fulfillment device is a kiosk.

18. The method of claim 1 further comprising:

collecting the collect amount;

notifying the data base that the collect amount has been collected; and

recording the transaction as sent.

19. The method of claim 1 further comprising printing a record corresponding to the money transfer transaction.

20. The method of claim 19 wherein printing a record comprises printing a negotiable instrument based on the code.

21. The method of claim 19 wherein printing a record comprises printing a receipt based on the code.

22. A method of performing a send money transfer transaction through a financial services institution, the method comprising:

providing a customer direct access to an employee of the financial services institution in order to receive transaction details from the customer, wherein the transaction details include a desired amount of money to be sent;

storing the transaction details on a data base;

providing a numeric code that corresponds to the transaction details stored on the data base;

entering the code into an electronic terminal in communication with the data base to retrieve the transaction details from the data base;

determining a collect amount based on the transaction details; and

collecting the collect amount.

23. A system for performing a send money transfer transaction, the system comprising:

a data base for storing transaction details;

a transaction staging device in communication with the data base for establishing a code that corresponds to the transaction details; and

an electronic transaction fulfillment device in communication with the data base, the electronic fulfillment device being configured to receive the code and to retrieve the transaction details from the data base based on the code.

24. The system of claim 23 wherein the transaction staging device includes an encoder for encoding the code on a card, and the electronic transaction fulfillment device includes a card reader for receiving the card in order to read the code therefrom.

25. The system of claim 23 wherein the transaction staging device includes a first voice scanner for establishing the code as a voice print, and wherein the electronic transaction fulfillment device includes a second voice scanner for receiving the voice print.

26. The system of claim 23 wherein the transaction staging device includes a first anatomical image scanner for establishing the code as an anatomical image, and wherein the electronic transaction fulfillment device includes a second anatomical image scanner for receiving the anatomical image.

27. The system of claim 23 wherein the transaction staging device includes a first fingerprint scanner for establishing the code as a fingerprint, and wherein the electronic transaction fulfillment device includes a second fingerprint scanner for receiving the fingerprint.

28. The system of claim 23 wherein the transaction staging device includes a first retina scanner for establishing the code as a retinal image, and wherein the electronic transaction fulfillment device includes a second retina scanner for receiving the retinal image.

29. The system of claim 23 wherein the transaction staging device includes a first face scanner for establishing the code as a facial image, and wherein the electronic transaction fulfillment device includes a second face scanner for receiving the facial image.