DYNAMICALLY SELECTING SENDING AND RECEIVING ACCOUNTS
First Claim
1. A computer-implemented method performed on one or more computing devices, the method comprising:
- receiving, using the one or more computing devices, a fund transfer request from a sender, wherein the fund transfer request requests a fund transfer that transfers a predetermined amount of funds from the sender to a receiver;
identifying, using the one or more computing devices, a sender financial account associated with the sender;
wherein the sender financial account is associated with a plurality of holding accounts;
wherein the plurality of holding accounts are associated with a plurality of financial institutions;
wherein every holding account of the plurality of holding accounts is capable of performing the fund transfer;
identifying, using the one or more computing devices, a receiver financial account associated with the receiver, wherein the receiver financial account is associated with a receiver financial institution;
automatically selecting, using the one or more computing devices, a target holding account from among the plurality of holding accounts based on one or more selection factors, wherein the one or more selection factors includes at least one of;
amount of time to complete the fund transfer using each holding account of the plurality of holding accounts;
orgeographic location associated with each holding account of the plurality of holding accounts; and
transferring, using the one or more computing devices, a predetermined amount of currency associated with the fund transfer request, from the target holding account to the receiver financial account.
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Abstract
A computer implemented system for optimizing the transfer of funds from an account holder to an associate is disclosed. The system uses digitally stored logic to identify the geographic location of a first financial institution involved in the transaction. The system dynamically selects from a plurality of financial institutions a second financial institution which is located near the first financial institution to be involved in the transaction. Selecting a second financial institution nearby the first financial institution facilitates the transaction and reduces the time transaction funds are unavailable.
44 Citations
20 Claims
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1. A computer-implemented method performed on one or more computing devices, the method comprising:
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receiving, using the one or more computing devices, a fund transfer request from a sender, wherein the fund transfer request requests a fund transfer that transfers a predetermined amount of funds from the sender to a receiver; identifying, using the one or more computing devices, a sender financial account associated with the sender; wherein the sender financial account is associated with a plurality of holding accounts; wherein the plurality of holding accounts are associated with a plurality of financial institutions; wherein every holding account of the plurality of holding accounts is capable of performing the fund transfer; identifying, using the one or more computing devices, a receiver financial account associated with the receiver, wherein the receiver financial account is associated with a receiver financial institution; automatically selecting, using the one or more computing devices, a target holding account from among the plurality of holding accounts based on one or more selection factors, wherein the one or more selection factors includes at least one of; amount of time to complete the fund transfer using each holding account of the plurality of holding accounts;
orgeographic location associated with each holding account of the plurality of holding accounts; and transferring, using the one or more computing devices, a predetermined amount of currency associated with the fund transfer request, from the target holding account to the receiver financial account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. One or more non-transitory computer-readable media storing instructions which, when executed by one or more computing devices, cause performance of a method for transferring funds from a sender to a receiver, performed on one or more computing devices, the method comprising:
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receiving, using the one or more computing devices, a fund transfer request from the sender requesting a fund transfer that transfers a predetermined amount of funds from the sender to the receiver; identifying, using the one or more computing devices, a sender financial account associated with the sender, wherein the sender financial account is associated with a plurality of holding accounts, wherein the plurality of holding accounts are associated with a plurality of financial institutions, wherein every holding account of the plurality of holding accounts is capable of performing the fund transfer; identifying, using the one or more computing devices, a receiver financial account associated with the receiver, wherein the receiver financial account is associated with a receiver financial institution; automatically selecting, using the one or more computing devices, a target holding account from among the plurality of holding accounts based on one or more selection factors, wherein the one or more selection factors includes at least one of; amount of time to complete the fund transfer using each holding account of the plurality of holding accounts;
orgeographic location associated with each holding account of the plurality of holding accounts; and transferring, using the one or more computing devices, a predetermined amount of currency associated with the fund transfer request, from the target holding account to the receiver financial account. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification