System and method of transferring funds

• US 20100042536A1
• Filed: 08/14/2009
• Published: 02/18/2010
• Est. Priority Date: 08/15/2008
• Status: Abandoned Application

• Current Assignee: Regions Bank (Regions Financial Corporation)
• Original Assignee: Regions Bank (Regions Financial Corporation)
• Inventors: Thorson, Tim, Sims, Harvey, Meissner, Stark
• Application Number:
  US12/541,342
• Publication Number:
  US 20100042536A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system for transferring funds can include a database with information about a routing number including ACH transfer information and wire transfer information. The system can include a conversion module configured to receive an ACH transfer file including an associated routing number, access the database to retrieve wire transfer information, and convert the ACH transfer file to a wire transfer file. The system can include an implementation module configured to perform a wire transfer using the wire transfer file. The wire transfer can be a batch wire transfer. The conversion module can use the associated routing number from the ACH transfer file to retrieve wire transfer information for the associated routing number from the database.

Claims

1. A system for transferring funds comprising:

a database including information about a routing number including ACH transfer information and wire transfer information;

a conversion module configured to receive an ACH transfer file including an associated routing number, access the database to retrieve wire transfer information, and convert the ACH transfer file to a wire transfer file; and

an implementation module configured to perform a wire transfer using the wire transfer file.

2. The system of claim 1 wherein the wire transfer is a batch wire transfer.

3. The system of claim 2 wherein the implementation module automatically performs the wire transfer.

4. The system of claim 1 wherein the conversion module uses the associated routing number from the ACH transfer file to retrieve wire transfer information for the associated routing number from the database.

5. A method of transferring funds comprising:

receiving an ACH file having information about an ACH transfer including an associated routing number;

converting the ACH file to a wire transfer file using the information about an ACH transfer and information about wire transfers for the associated routing number as input; and

transferring funds using the wire transfer file.

6. The method of claim 5 wherein the wire transfer file is a batch wire transfer file.

7. The method of claim 5 wherein the transferring funds is automatic.