Multiple-entity transaction systems and methods

• US 20040098335A1
• Filed: 11/06/2002
• Published: 05/20/2004
• Est. Priority Date: 11/06/2002
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated), Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Algiene, Kenneth, Hansen, Kurt, Michelsen, Michael, Siefert, Dean A.
• Granted Patent: US 8,032,452 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• 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 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

Methods and systems are provided for performing a funds transfer. A request to transfer funds to a recipient is received at a host system, as well as an identification of a selected funds-transfer company chosen from a group of funds-transfer companies and a request to provide the funds to the recipient. Information related to the request is transmitted from the host system to a payout system. The request to transfer funds may include an identification of a retrieval location, with a list of funds-transfer companies that offer funds-transfer services to the retrieval location further being transmitted from the host system to a funds-transfer initiating system.

Claims

1. A method for coordinating a funds transfer, the method comprising:

receiving entry from a requester into a funds-transfer initiating system of a request to transfer funds to a recipient; and

communicating a list of funds-transfer companies that may be selected to transfer the funds.

2. The method recited in claim 1 further comprising:

receiving entry from the requester into the funds-transfer initiating system of a selection of one of the funds-transfer companies;

transmitting the request and the selection from the funds-transfer initiating system to a host system.

3. The method recited in claim 1 wherein further comprising displaying the list to the requester.

4. The method recited in claim 1 further comprising displaying a selected one of the funds-transfer companies from the list to the requester.

5. The method recited in claim 1 further comprising collecting the funds to be transferred.

6. The method recited in claim 1 further comprising:

receiving entry into the fund-transfer initiating system a desired retrieval location; and

communicating a list of funds-transfer companies that offer funds-transfer services to the desired retrieval location.

7. The method recited in claim 1 further comprising communicating a list of prices charged for transferring funds by each of the funds-transfer companies.

8. The method recited in claim 7 wherein:

the request to transfer funds includes a foreign-currency-exchange request; and

the list of prices includes a list of foreign-currency-exchange rates offered by each of the funds-transfer companies.

9. The method recited in claim 7 further comprising:

receiving a modified price from one of the funds-transfer companies; and

displaying the list to the requester with the modified price.

10. The method recited in claim 1 further comprising communicating funds-transfer fees for each of the funds-transfer companies.

11. A method for performing a funds transfer, the method comprising:

receiving at a host system a request to transfer funds to a recipient;

receiving at the host system an identification of a selected funds-transfer company chosen from a group of funds-transfer companies;

receiving at the host system a request to provide the funds to the recipient; and

transmitting information related to the request to provide the funds to the recipient from the host system.

12. The method recited in claim 11 wherein the request to transfer funds to the recipient includes an identification of a retrieval location, the method further comprising transmitting from the host system to a funds-transfer initiating system a list of funds-transfer companies that offer funds-transfer services to the retrieval location.

13. The method recited in claim 11 further comprising transmitting from the host system to an initiating system a list of prices charged for transferring funds by each of the group of funds-transfer companies.

14. The method recited in claim 13 wherein:

the request to transfer funds includes a foreign-currency-exchange request; and

the list of prices includes a list of foreign-currency exchange rates offered by each of the group of funds-transfer companies.

15. The method recited in claim 13 further comprising charging at least some of the group of funds-transfer companies a fee for including such some of the group of funds-transfer companies in the list.

16. The method recited in claim 11 further comprising charging the selected funds-transfer company a fee for use of the host system.

17. A transaction device comprising:

a data-entry device;

a memory;

a communications device; and

a processor coupled with the data-entry device, the memory, and the communications device,

wherein the transaction device is configured to receive a request from a requester to transfer funds to a recipient, and to communicate a list of funds-transfer companies that may be selected to transfer the funds.

18. The transaction device recited in claim 17 wherein the transaction device is further configured to receive a selection from the requester of one of the funds-transfer companies, and to transmit the request and the selection to a host system.

19. The transaction device recited in claim 17 further comprising a display screen, wherein the transaction device is further configured to display the list of funds-transfer companies to the requester on the display screen.

20. The transaction device recited in claim 17 wherein the transaction device is further configured to collect the funds to be transferred.

21. The transaction device recited in claim 17 wherein the transaction device is further configured to:

receive identification of a desired retrieval location; and

communicate a list of funds-transfer companies that offer funds-transfer services to the desired retrieval location on the display screen.

22. The transaction device recited in claim 17 wherein the transaction device is further configured to communicate a list of prices charged for transferring funds by each of the funds-transfer companies.

23. The transaction device recited in claim 22 wherein:

the request to transfer funds includes a foreign-currency-exchange request; and

the list of prices includes a list of foreign-currency-exchange rates offered by each of the funds-transfer companies.

24. The transaction device recited in claim 17 wherein the transaction device is further configured to receive a modified price from one of the funds-transfer companies and to display the list to the requester with the modified price.

25. The transaction device recited in claim 17 wherein the transaction device is further configured to communicate funds-transfer fees for each of the funds-transfer companies.

26. The transaction device recited in claim 17 wherein the data-entry device comprises a card reader.

27. The transaction device recited in claim 17 wherein the communications device comprises an Internet interface.

28. The transaction device recited in claim 17 wherein the communications device comprises a telephone interface.

29. The transaction device recited in claim 17 wherein the communications device comprises a PDA interface.

30. The transaction device recited in claim 17 further comprising a cash issuer.

31. The transaction device recited in claim 17 further comprising a card issuer.

32. A computer system comprising:

a communications device;

a processor in communication with the storage device and the communications device; and

a memory coupled with the processor, the memory comprising a computer-readable storage medium having a computer-readable program embodied therein for operating the computer system to perform a funds transfer, the computer-readable program including;

instructions for receiving with the communications device a request to transfer funds to a recipient;

instructions for receiving with the communications device an identification of a selected funds-transfer company chosen from a group of funds-transfer companies;

instructions for receiving with the communications device a request to provide the funds to the recipient; and

instructions for transmitting with the communications device information related to the request to provide the funds to the recipient.

33. The computer system recited in claim 32 wherein the request to transfer funds to the recipient includes an identification of a retrieval location, the computer-readable program further including instructions for transmitting to a funds-transfer initiating system with the communications device a list of funds-transfer companies that offer funds-transfer services to the retrieval location.

34. The computer system recited in claim 32 wherein the computer-readable program further comprises instructions for transmitting to a funds-transfer initiating system with the communications device a list of prices charged for transferring funds by each of the group of funds-transfer companies.

35. The computer system recited in claim 34 wherein:

the request to transfer funds includes a foreign-currency-exchange request; and

the list of prices includes a list of foreign-currency exchange rates offered by each of the group of funds-transfer companies.

36. The computer system recited in claim 34 wherein the computer-readable program further includes instructions for charging at least some of the group of funds-transfer companies.

37. The computer system recited in claim 32 wherein the computer-readable program further includes instructions for charging the selected funds-transfer company a fee.