Integrated technology money transfer system
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Accused Products
Abstract
A money transfer system where a sender can authorize an escrow agent computer system electronically by touch-tone telephone, computer modem, P.O.S.(point of sale) terminal, live operators, and the like, to send a money transfer such as a cash transfer from their card account such as their credit card, debit card, bank card, ATM card, or a bank checking account, bank savings account, and the like, to a recipient that can access the money transfer at any remote ATM type location or P.O.S.(point of sale) terminal by using magnetic cards such as a specialized magnetic (Cash Magic) card, credit cards, debit cards, and automated teller machine(ATM) card, at anytime and anywhere that the ATM or P.O.S.(point of sale) terminal is located worldwide. The system can be used to quickly and easily send another party cash for pickup at any ATM location or P.O.S.(point of sale) terminal worldwide without having pre-existing relationships between the parties. A sending party can authorize, by touch-tone and PIN(personal identification number) secure codes to a central computer system which authorizes taking of funds from one type account (for example, a bank account, a credit account, and the like) and put credit for access by a recipient-user. The recipient-users can take the cards to withdrawal sites such as ATM machines, merchant machines, credit card machines, banks, and the like, to be used. The invention computer system can monitor the charging transaction and take surcharges based on the amount of cash being transferred and deposited into the escrow account accessible by the debit type cards. The system can be an alternative to wire money transfers, and Western Union type services. The system offers customers an easy method for sending cash, making it available at existing ATM type machine locations throughout the world, 24 hours a day, 365 days a year. The invention can also allow for having a universal specialized magnetic card permanently tethered to an ATM machine so that money transfer recipients do not need to possess any magnetic card, and/or be used with novel double magnetic sided cards.
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Citations
45 Claims
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1-25. -25. (canceled)
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26. A method for sending cash money transfers at anytime from anyone to a remotely located party, comprising the steps of:
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providing a sender with available funds, the available funds being selected from one of;
a credit card of the sender and a debit card of the sender, wherein the sender is adapted to be solely a human-sender;providing a recipient being remotely located from the sender, wherein the recipient is adapted to be solely a human-recipient, wherein the sender and the recipient are different from one another; communicating an unplanned request for cash funds from the remotely located recipient to the sender; providing a toll free connection to a remotely located IVR(interactive voice response) computer system; connecting the sender to the IVR(interactive voice response) computer system by a communication medium using the toll free connection, the communication medium being selected from one of a phone and a computer modem, the IVR system receives multiple simultaneous calls from different senders and prompts each sender to enter transfer authorization data, the IVR system processes the data in automated modes with software and converts the data to language of existing banks, processors, processing networks and clearing houses, and the IVR system processes the transfer with transmission lines and electronic mediums, the electronic mediums being different from the communication medium; providing a national bank escrow account to receive the cash to be transferred plus an amount for a possible terminal charge and to temporarily hold the cash; providing a recipient card consisting of a credit card with a magnetic stripe and a debit card with a magnetic stripe; authorizing a transfer of cash to the recipient-card by the sender entering responses to automated prompts from the remotely located IVR system, solely through the connection medium; transferring the cash from accessible funds of the sender to the recipient-card by the sender solely using the connection medium and the IVR system; providing a remotely located automated terminal, the terminal being selected from one of an existing ATM(automated teller machine) and an existing POS(point of sale terminal); physically presenting the recipient-card by the recipient to the remotely located automated terminal; and physically retrieving the cash by the recipient using the recipient-card having the magnetic stripe at the remotely located automated terminal; and repeating the above steps between the different senders and different recipients causing simultaneous cash money transfers from the different senders and the different recipients. - View Dependent Claims (27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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45. A method for transferring money funds from senders to recipients, each sender adapted to be solely a human-sender, and each recipient adapted to be solely a human-recipient, consisting of the steps of:
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providing each sender with available funds, the available funds being selected from one of;
a credit card of the sender and a debit card of the sender;providing a communication medium to a remotely located IVR(interactive voice response) computer process, the communication medium being selected from one of a phone and a touchtone phone and a computer modem; providing for the recipient to be different from the sender and to be physically located apart from the sender; connecting the sender to the remotely located IVR computer process by a connection medium; providing a national bank escrow account; providing the recipient with a recipient'"'"'s magnetic stripe card, the magnetic strip card being selected from one of;
a magnetic stripe credit card and a magnetic stripe debit card and a magnetic stripe ATM(automated teller machine) card that uses the national bank escrow account;determining cash to distribute to the recipient'"'"'s magnetic stripe card by the sender entering responses to automated prompts from the remotely located IVR system, solely through the connection medium and the IVR computer process; transferring the cash from accessible funds of the sender to the national bank escrow account by the sender solely using the connection medium and the IVR computer process; transferring the cash to distribute to the recipient plus an amount to cover a possible ATM surcharge from the escrow account to the recipient'"'"'s magnetic stripe card account and the balance to an income account; physically presenting the recipient-card by the recipient to a remote automated terminal, the remote automated terminal being solely selected from at least one of an existing ATM(automated teller machine) and an existing POS (point of sale terminal); physically retrieving the cash transferred to the recipient-card by the recipient at the remote terminal presenting the recipient-card; and providing that no business and transaction information will be conveyed by the sender to the recipient since the recipient is in possession of the recipient-card, and wherein the method for transferring of the money funds is not in response to a pre-existing transactional relationship between the sender and the recipient; and repeating the above steps causing simultaneous money fund transfers from the different senders and different recipients.
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Specification