Systems and methods for fund transfers
First Claim
1. A method for automatically transferring a desired sum of money from one financial account to another, comprising:
- associating a communications address with each of a plurality of financial accounts for communicating with corresponding accountholders of the financial accounts;
assigning a transfer code in response to a communication indicating that a money transfer is to occur;
utilizing the transfer code to send a specified sum of money from a transferor financial account; and
identifying which one of the pluarlity of the financial accounts is to receive that specified sum of money, based on identifying from which one of the communications addresses the communication was received.
4 Assignments
0 Petitions
Accused Products
Abstract
A system and method permits the transfer of funds between a transferor account and a transferee account through interaction with a transfer execution system. Money may be transferred from one account to another account in a different financial institution, which may occur for example in real time or without substantial delay in completing the process. The accounts that are to be used in the transfer may be identified based on the communications addresses of the users communicating with the system. A transfer code may be provided which in some embodiments may be used to identify one or more of the accounts to be used for the transfer when the transfer code is submitted to the system by one of the participants of the transfer. To implement desired transfers, the system may communicate with a financial network which may provide communications with the financial institutions of the users.
232 Citations
49 Claims
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1. A method for automatically transferring a desired sum of money from one financial account to another, comprising:
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associating a communications address with each of a plurality of financial accounts for communicating with corresponding accountholders of the financial accounts;
assigning a transfer code in response to a communication indicating that a money transfer is to occur;
utilizing the transfer code to send a specified sum of money from a transferor financial account; and
identifying which one of the pluarlity of the financial accounts is to receive that specified sum of money, based on identifying from which one of the communications addresses the communication was received. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 18, 19)
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17. The method of claim 17 wherein the sum that is to be transferred is only specified by the user that is seeking to transfer funds.
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20. A system for automatically transferring a desired sum of money from one financial account to another, comprising:
equipment that includes processing equipment, communications equipment and storage, the equipment being configured to associate a communications address with each of a plurality of financial accounts for communicating with corresponding accountholders of the financial accounts, to assign a transfer code in response to a communication indicating that a money transfer is to occur, to utilize the transfer code to send a specified sum of money from a transferor financial account, and to identify which one of the pluarlity of the financial accounts is to receive that specified sum of money based on identifying from which one of the communications addresses the communication is received. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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39. A method of sending payment from a sender'"'"'s account to a receiver'"'"'s account, the method comprising:
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the receiver calling a host computer using a communications channel;
the host computer identifying the receiver using caller identification;
the host computer retrieving receiver card information from a card number database; and
the host computer prompting the receiver to select an action from the group consisting of send money, receive money, and check account balance;
such that when the receiver selects receive money, the receiver is prompted to input an amount to receive, the receiver inputs amount to receive, the host computer reads the amount to receive input by the receiver and prompts receiver for a personal identification number (PIN) of the receiver, the receiver inputs the PIN, the host computer transmits a balance inquiry for an account of the receiver through an automated teller machine (ATM)/debit network to determine if the receiver'"'"'s account is valid and capable of receiving the amount. - View Dependent Claims (40, 41, 42, 43)
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44. A method of sending payment from a sender'"'"'s account to a receiver'"'"'s account, the method comprising:
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the receiver calling a host computer using a communications channel;
the host computer identifying the receiver using caller identification;
the host computer retrieving receiver card information from a card number database; and
the host computer prompting the receiver to select an action from the group consisting of send money, receive money, and check account balance;
such that when the sender elects to send money, the host computer prompts the sender to enter the transaction code, the sender inputs the transaction code to the host computer, the host computer checks the transaction code against the central database and retrieves the transaction amount, the host computer advises the sender of the transaction amount and queries the sender as to whether transfer should continue. - View Dependent Claims (45, 46, 47, 48)
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49. A method of checking the balance of an ATM or debit card account of a user, the method comprising:
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the user calling into a host computer;
the host computer identifying the user using caller identification;
the host computer retrieving the user'"'"'s ATM or debit card number from a card number database;
the host computer prompting the user to send money, receive money, or check account balance;
the host computer prompting the user for a PIN of the user when the user elects to check account balance;
the user inputting the PIN of the user;
the host computer transmitting a balance inquiry through an ATM/debit network;
the host computer receiving a response from the ATM/debit network, including an account balance; and
the host computer advising the user of the account balance.
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Specification