Real-Time Funds Transfer
First Claim
1. A computerized method for transferring funds from a first account at an initiating financial institution to a second account at a receiving financial institution over an electronic funds transfer (EFT) network, the method comprising:
- receiving a funds transfer request from a consumer, wherein the funds transfer requests comprises a request to transfer funds from the first account at the initiating financial institution to the second account at the receiving financial institution, the fund transfer request comprises a fund transfer amount, and the funds transfer request is received from the consumer over the Internet;
authenticating the consumer for a transaction related to the first account at the initiating financial institution;
verifying that the funds available in the first account at the initiating financial institution is greater than or equal to the fund transfer amount;
debiting the fund transfer amount from the first account at the initiating financial institution; and
crediting the fund transfer amount to the second account at the receiving financial institution.
8 Assignments
0 Petitions
Accused Products
Abstract
A computerized method for transferring funds from a first account at an initiating financial institution to a second account at a receiving financial institution over an automated teller machine (ATM) network is disclosed. The method may include receiving a funds transfer request from a consumer to transfer funds from the first account at the initiating financial institution to the second account at the receiving financial institution. Authenticating the consumer for a transactions related to the first account at the initiating financial institution may also be included. The system may verify that the funds available in the first account at the initiating financial institution is greater than or equal to the fund transfer amount. Finally, the method debits funds from the first account at the initiating financial institution; and credits funds to the second account at the receiving financial institution.
-
Citations
25 Claims
-
1. A computerized method for transferring funds from a first account at an initiating financial institution to a second account at a receiving financial institution over an electronic funds transfer (EFT) network, the method comprising:
-
receiving a funds transfer request from a consumer, wherein the funds transfer requests comprises a request to transfer funds from the first account at the initiating financial institution to the second account at the receiving financial institution, the fund transfer request comprises a fund transfer amount, and the funds transfer request is received from the consumer over the Internet; authenticating the consumer for a transaction related to the first account at the initiating financial institution; verifying that the funds available in the first account at the initiating financial institution is greater than or equal to the fund transfer amount; debiting the fund transfer amount from the first account at the initiating financial institution; and crediting the fund transfer amount to the second account at the receiving financial institution. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
-
-
17. A computerized method for transferring funds from a first account at an initiating financial institution to a second account at a receiving financial institution over a financial network, the method comprising:
-
receiving a funds transfer request over a telephone network from a consume at a third-party institution system, wherein the funds transfer requests comprises a request to transfer funds from the first account at the initiating financial institution to the second account at the receiving financial institution, and the fund transfer request comprises a fund transfer amount; authenticating the consumer for a transactions related to the first account at the initiating financial institution at the third-party institution; requesting verification from the initiating financial institution that the funds available in the first account at the initiating financial institution is greater than or equal to the fund transfer amount; requesting that the fund transfer amount is debited from the first account at the initiating financial institution; and requesting that the funds transfer amount be credited to the second account at the receiving financial institution. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
-
-
25. A computerized method for transferring funds from a first account at an first financial institution to a second account at a receiving financial institution over an electronic funds transfer (EFT) network, the method comprising:
-
receiving a funds transfer request from a consumer at a third-party financial institution, wherein the funds transfer requests comprises a request to transfer funds from the first account at the first financial institution to the second account at the receiving financial institution, the fund transfer request comprises a fund transfer amount, and the funds transfer request is received at the third-party institution from the consumer over the Internet; authenticating the consumer at the third-party institution for a transaction related to the first account at the first financial institution; verifying that the funds available in the first account at the first financial institution is greater than or equal to the fund transfer amount; debiting the fund transfer amount from the first account at the first financial institution; and crediting the fund transfer amount to the second account at the receiving financial institution.
-
Specification