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Multi-depository financial transactions

  • US 20050222957A1
  • Filed: 03/06/2003
  • Published: 10/06/2005
  • Est. Priority Date: 03/07/2002
  • Status: Abandoned Application
First Claim
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1. A method of processing funds between a transferor and a transferee, at least the transferor having a transferor deposit sub-account administered via a depository administrator, the method comprising:

  • (a) the transferor accessing the depository administrator via a global network;

    (b) the transferor requesting a transfer or hold of funds in the transferor deposit sub-account to or for the benefit of the transferee;

    (c) if the transferee does not have a transferee deposit sub-account administered via the depository administrator, providing the transferee an opportunity to establish the transferee deposit sub-account; and

    (d) the depository administrator processing the funds between the transferor deposit sub-account and the transferee deposit sub-account.

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