Method for receiving electronically transferred funds using an automated teller machine

• US 20030126083A1
• Filed: 01/03/2002
• Published: 07/03/2003
• Est. Priority Date: 01/03/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Seifert, Dean A., Stoutenburg, Earney E.
• Granted Patent: US 7,617,157 B2
• Time in Patent Office: Days
• US Class Current: 705/43
• 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 20/382 insuring higher security of transaction
• 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 99/00 Subject matter not provided for in other groups of this subclass
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

A method for performing a money transfer receive transaction involving a desired amount of money to be transferred from a sender to a recipient includes receiving transaction identifying information provided by the recipient; comparing the transaction identifying information with transaction data stored on a host computer system; providing a confirmation code, to be issued to the recipient, if the transaction identifying information matches the transaction data stored on the host computer system; storing the confirmation code on the host computer system; receiving at the host computer system input corresponding to the confirmation code from a dispensing terminal in communication with the host computer system; comparing the input to the stored confirmation code; and allowing funds, corresponding to at least a portion of the desired amount of money, to be dispensed by the dispensing terminal if the input matches the stored confirmation code.

Claims

1. A method for performing a money transfer receive transaction involving a desired amount of money to be transferred from a sender to a recipient, the method comprising:

receiving transaction identifying information provided by the recipient;

comparing the transaction identifying information with transaction data stored on a host computer system;

providing a confirmation code, to be issued to the recipient, if the transaction identifying information matches the transaction data stored on the host computer system;

storing the confirmation code on the host computer system;

receiving at the host computer system input corresponding to the confirmation code from a dispensing terminal in communication with the host computer system;

comparing the input to the confirmation code stored on the host computer system; and

allowing funds, corresponding to at least a portion of the desired amount of money, to be dispensed by the dispensing terminal if the input matches the confirmation code stored on the host computer system.

2. The method of claim 1 wherein the confirmation code includes a number.

3. The method of claim 1 wherein the confirmation code includes a letter.

4. The method of claim 1 wherein the confirmation code includes a symbol.

5. The method of claim 1 wherein the confirmation code includes an image.

6. The method of claim 1 wherein the step of providing a confirmation code includes providing, by the host computer system, the confirmation code to a receive-transaction initiating device in communication with the host computer system.

7. The method of claim 6 wherein the receive-transaction device is a personal computer.

9. The method of claim 1 wherein the step of providing a confirmation code includes providing, by a telephone operator, the confirmation code to the recipient.

10. The method of claim 1 further comprising:

providing an identification code to the recipient if the transaction identifying information matches the transaction data stored on the host computer system;

storing the identification code on the host computer system;

receiving at the host computer system additional input corresponding to the identification code from the dispensing terminal;

comparing the additional input to the identification code stored on the host computer system; and

wherein the step of allowing funds, corresponding to at least a portion of the desired amount of money, to be dispensed by the dispensing terminal includes allowing the funds to be dispensed if the additional input matches the identification code stored on the host computer system.

11. The method of claim 10 wherein the identification code includes a number.

12. The method of claim 10 wherein the identification code includes a letter.

13. The method of claim 10 wherein the identification code includes a symbol.

14. The method of claim 10 wherein the identification code includes an image.

15. The method of claim 1 further comprising:

receiving an identification code established by the recipient;

storing the identification code on the host computer system;

receiving at the host computer system additional input corresponding to the identification code from the dispensing terminal; and

comparing the additional input to the identification code stored on the host computer system;

wherein the step of allowing funds, corresponding to at least a portion of the desired amount of money, to be dispensed by the dispensing terminal includes allowing the funds to be dispensed if the additional input matches the identification code stored on the host computer system.

16. The method of claim 15 wherein the identification code includes a number.

17. The method of claim 15 wherein the identification code includes a letter.

18. The method of claim 15 wherein the identification code includes a symbol.

19. The method of claim 15 wherein the identification code includes an image.

8. The method of claim 8 wherein the receive-transaction initiating device is a telephone.

20. A method for performing a money transfer transaction, the method comprising:

storing transaction data on a host computer system, wherein the transaction data includes a desired amount of money to be electronically transferred from a sender to a recipient;

receiving at the host computer system transaction identifying information from a receive-transaction initiating terminal in communication with the host computer system, wherein the transaction identifying information is provided by the recipient;

comparing the transaction identifying information with the transaction data stored on the host computer system;

providing, by the host computer system, an identification number and a confirmation code to the receive-transaction initiating terminal, for issuance to the recipient, if the transaction identifying information matches the transaction data stored on the host computer system;

storing the identification number and the confirmation code on the host computer system;

receiving at the host computer system input corresponding to the identification number and the confirmation code from a dispensing terminal in communication with the host computer system;

comparing the input to the identification number and the confirmation code stored on the host computer system; and

authorizing funds corresponding to at least a portion of the desired amount of money to be dispensed by the dispensing terminal if the input matches the identification number and the confirmation code stored on the host computer system.