EFFICIENT TRANSFER OF FUNDS BETWEEN ACCOUNTS
First Claim
1. A computer-implemented method comprising:
- receiving, by a transfer management computer system, a fund transfer request to transfer an amount of funds from a transferring account maintained by a transferring bank to a receiving account maintained by a receiving bank;
determining, by the transfer management computer system, that the transferring bank maintains a first intermediate account and that the receiving bank maintains a second intermediate account, the first intermediate account and the second intermediate account managed by an administrative entity independent from the transferring bank and the receiving bank; and
responsive to a determining that the transferring bank maintains the first intermediate account and the receiving bank maintains the second intermediate account, the transfer management computer system processing the fund transfer request without initiating a fund transfer between the first intermediate account and the second intermediate account, the transfer management computer system processing the fund transfer request by;
transmitting to a transferring bank system of the transferring bank, an intra-bank transfer request to transfer the amount of funds from the transferring account to the first intermediate account maintained by the transferring bank; and
responsive to the first intermediate account receiving the funds from the transferring account, transmitting to a receiving bank system of the receiving bank, an intra-bank transfer request to transfer the amount of funds from the second intermediate account maintained by the receiving bank to the receiving account.
2 Assignments
0 Petitions
Accused Products
Abstract
A transfer management system receives a request to transfer an amount of funds from a transferring account maintained by a transferring bank to a receiving account maintained by a receiving bank. The transfer management system determines whether the transferring bank maintains an intermediate transferring account, and whether the receiving bank maintains an intermediate receiving account. If the transferring bank maintains an intermediate transferring account and the receiving maintains an intermediate receiving account, the transfer management system transmits to a transferring bank system of the transferring bank an intra-bank transfer request. The intra-bank transfer request is to transfer the amount of funds from the transferring account to the intermediate transferring account. Additionally, the transfer management system transmits an intra-bank transfer request to a receiving bank system of the receiving bank to transfer the amount of funds from the intermediate receiving account maintained by the receiving bank to the receiving account.
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Citations
20 Claims
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1. A computer-implemented method comprising:
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receiving, by a transfer management computer system, a fund transfer request to transfer an amount of funds from a transferring account maintained by a transferring bank to a receiving account maintained by a receiving bank; determining, by the transfer management computer system, that the transferring bank maintains a first intermediate account and that the receiving bank maintains a second intermediate account, the first intermediate account and the second intermediate account managed by an administrative entity independent from the transferring bank and the receiving bank; and responsive to a determining that the transferring bank maintains the first intermediate account and the receiving bank maintains the second intermediate account, the transfer management computer system processing the fund transfer request without initiating a fund transfer between the first intermediate account and the second intermediate account, the transfer management computer system processing the fund transfer request by; transmitting to a transferring bank system of the transferring bank, an intra-bank transfer request to transfer the amount of funds from the transferring account to the first intermediate account maintained by the transferring bank; and responsive to the first intermediate account receiving the funds from the transferring account, transmitting to a receiving bank system of the receiving bank, an intra-bank transfer request to transfer the amount of funds from the second intermediate account maintained by the receiving bank to the receiving account. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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2. (canceled)
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3. (canceled)
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4. (canceled)
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15. A computer program product having a non-transitory computer-readable storage medium having computer executable instructions comprising:
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an authorization module configured to receive a fund transfer request to transfer an amount of funds from a transferring account maintained by a transferring bank to a receiving account maintained by a receiving bank; and a transfer module configured to; determine that the transferring bank maintains a first intermediate account and that the receiving bank maintains a second intermediate account, the first intermediate account and the second intermediate account managed by an administrative entity independent from the transferring bank and the receiving bank; and responsive to determining that the transferring bank maintains the first intermediate account and the receiving bank maintains the second intermediate account, processing the fund transfer request without initiating a fund transfer between the first intermediate account and the second intermediate account, the fund transfer request processed by; transmitting to a transferring bank system of the transferring bank, an intra-bank transfer request to transfer the amount of funds from the transferring account to the first intermediate account maintained by the transferring bank; and responsive to the first intermediate account receiving the funds from the transferring account, transmitting to a receiving bank system of the receiving bank, an intra-bank transfer request to transfer the amount of funds from the second intermediate account maintained by the receiving bank to the receiving account. - View Dependent Claims (16, 17)
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18. A computer system for processing a fund transfer request, the system comprising:
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a computer processor; and a non-transitory computer-readable storage medium storing computer program modules comprising; an authorization module configured to receive a fund transfer request to transfer an amount of funds from a transferring account maintained by a transferring bank to a receiving account maintained by a receiving bank; and a transfer module configured to; determine that the transferring bank maintains a first intermediate account and that the receiving bank maintains a second intermediate account, the first intermediate account and the second intermediate account managed by an administrative entity independent from the transferring bank and the receiving bank; and responsive to determining that the transferring bank maintains the first intermediate account and the receiving bank maintains the second intermediate account, processing the fund transfer request without initiating a fund transfer between the first intermediate account and the second intermediate account, the fund transfer request processed by; transmitting to a transferring bank system of the transferring bank, an intra-bank transfer request to transfer the amount of funds from the transferring account to the first intermediate account maintained by the transferring bank; and responsive to the first intermediate account receiving the funds from the transferring account, transmitting to a receiving bank system of the receiving bank, an intra-bank transfer request to transfer the amount of funds from the second intermediate account maintained by the receiving bank to the receiving account. - View Dependent Claims (19, 20)
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Specification