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METHOD, APPARATUS AND COMPUTER READABLE STORAGE TO EFFECTUATE AN INSTANTANEOUS MONETARY TRANSFER

  • US 20140019341A1
  • Filed: 04/10/2013
  • Published: 01/16/2014
  • Est. Priority Date: 04/10/2012
  • Status: Active Application
First Claim
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1. A computer implemented method, comprising:

  • receiving an electronic request on a computer communications network from a sender to transfer funds from a sender'"'"'s bank account at a first financial institution to a receiver'"'"'s bank account at a second financial institution, the second financial institution being different than the first financial institution; and

    initiating, using an electronic server connected to the computer communications network, an electronic transfer of funds from an intermediary'"'"'s bank account to a proxy'"'"'s bank account, wherein the server also initiates the proxy'"'"'s bank account to fund a transfer to the receiver'"'"'s bank account and the sender'"'"'s bank account to fund a transfer to the intermediary'"'"'s bank account or second intermediary bank account.

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