Method and system for managing financial transactions
First Claim
4. The method of claim I, comprising:
- formatting the information in a United Nations Electronic Data Exchange Administration, Commerce and Transport (UN/EDIFACT) format, if the account is not in the United States.
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Accused Products
Abstract
A method of processing a cash transfer by or on behalf of a first entity to a bank account of a second entity comprises receiving information related to the cash transfer and formatting the information into one of a plurality of formats based, at least in part, on a location of the bank account. The information may be formatted into a NACHA format, if the bank account is in the United States, or a UN/EDIFACT format, if the bank account is not in the U.S. Information related to the country where the bank account is located may be added to the formatted information, to facilitate and enable clearance and settlement of funds in that country. A clearing network may be selected for the clearance and settlement of the funds. Information about the second entity may be previously received and stored in memory, for comparison to currently received information about the second entity in a current transaction, to detect fraud. Systems are disclosed, as well.
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Citations
88 Claims
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4. The method of claim I, comprising:
formatting the information in a United Nations Electronic Data Exchange Administration, Commerce and Transport (UN/EDIFACT) format, if the account is not in the United States. - View Dependent Claims (5, 6)
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31. A method of managing cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the method comprising:
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receiving information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from a party;
formatting the information in the at least one record into one of a plurality of formats based, at least in part, on a country where the bank account of the second entity related to the cash transfer of the record is located, to form a formatted record; and
sending a file comprising at least one formatted record to a clearing network. - View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40)
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41. A method of managing cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the method comprising:
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receiving information about a second entity, from a party;
storing the received information about the second entity;
receiving information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from the party; and
comparing the received information about the second entity to the stored information. - View Dependent Claims (42, 43, 44, 45)
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46. A method of managing cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the method comprising:
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receiving information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from a party;
sending the information to a clearing network to clear and settle the cash transfer;
receiving information from the clearing network concerning a status of the clearance and settlement of the cash transfer; and
informing the party of the status. - View Dependent Claims (47, 48, 49)
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50. A system for managing a cash transfer by or on behalf of a first entity to an account of a second entity, the system comprising:
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means for receiving information related to the cash transfer; and
means for formatting the information into one of a plurality of formats based, at least in part, on a location of the account.
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51. A system to manage a cash transfer by or on behalf of a first entity to an account of a second entity, the system comprising:
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memory to store information related to the cash transfer; and
a processor coupled to the memory, the processor being programmed to;
format the information into one of a plurality of formats based, at least in part, on a location of the account. - View Dependent Claims (52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71)
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72. A system to manage cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the system comprising:
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an interface to receive information related to the cash transfer in the form of a file, the file comprising at least one record related to a respective cash transfer, from a party;
memory to store the file;
a processor coupled to the interface and to the memory, the processor programmed to;
format the information in the at least one record into one of a plurality of formats based, at least in part, on a country where the bank account of the second entity related to the cash transfer of the record is located, to form a formatted record; and
send a file comprising at least one formatted record to a clearing network, via the interface. - View Dependent Claims (73, 74, 75, 76)
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77. A system to manage cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the system comprising:
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an interface to receive;
information about a second entity, from a party; and
information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from the party;
memory to store the information about the second entity and the information about the cash transfer; and
a processor coupled to the interface and to the memory, the processor being programmed to;
compare the information about the second entity to the information about the cash transfer to identify differences in the same type of information. - View Dependent Claims (78, 79, 80)
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81. A system to manage cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the system comprising:
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an interface to;
receive information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from a party;
memory to store the received information; and
a processor coupled to the interface and to the memory, the processor being programmed to;
send the information to a clearing network to clear and settle the cash transfer; and
inform the party of a status of the clearance and settlement of the cash transfer based on information provided by the clearing network. - View Dependent Claims (82, 83)
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84. A system to manage cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the system comprising:
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an interface to;
receive information related to the cash transfer in the form of a file comprising at least one record related to a respective cash transfer, from the party, and memory to store the received information; and
a processor coupled to the interface and to the memory, the processor being programmed to;
process the record for cash transfer; and
allow access to information about the status of the processing of the record by the system, to at least one selected party. - View Dependent Claims (85, 86)
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87. A method of managing cash transfers by or on behalf of at least one first entity to a bank account of at least one respective second entity, the method comprising:
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receiving information related to a cash transfer in the form of a file comprising at least one record related to a respective cash transfer;
processing the record;
receiving a request for access to status information related to the status of the processing of the record; and
selectively granting access to the status information. - View Dependent Claims (1, 2, 3, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 88)
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88-1. The method of claim 87, wherein the selected party is contractually associated with the first party or the second party with respect to the cash transfer and the record comprises an identification of the selected party, the method further comprising:
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receiving an identification of the selected party from the party;
comparing the identification with an identification of the selected party in the record; and
allowing access if the identification of the selected party matches the identification in the record.
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Specification