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Systems and Methods for Managing Prepaid Cards in a Digital Wallet, including Transferring Value from Prepaid Cards and Managing User Selected Accounts

  • US 20150324768A1
  • Filed: 06/25/2015
  • Published: 11/12/2015
  • Est. Priority Date: 09/04/2013
  • Status: Active Grant
First Claim
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1. A method for transferring value from a first account to a second account using a consumer device comprising:

  • accessing a swap service through a consumer device that is communicatively linked to a remote system, said remote system communicatively linked to a transfer network,requesting funding transaction information including at least the identity of a funding account and a transaction amount from a user through a first user interface displayed by the consumer device,accepting the funding transaction information input through the first user interface,establishing an escrow account with a financial affiliate and issuing an escrow account identification code,submitting the funding transaction information and the escrow account identification and an authorization code to a funding account issuer system as a submission,receiving a submission payment in the amount of a transaction amount from the funding account issuer system into the escrow account,determining a transfer amount based on the funding transaction information,requesting receiving account information including at least the identity of a receiving account from a user through a second user interface displayed by the consumer device,accepting the receiving account information input through the second user interface,providing transfer instructions including at least the receiving account information and the transfer amount and escrow account identification code to the receiving account issuer system causing a transfer of value to the receiving account,wherein the submission payment is transferred through an automated clearing house (ACH) from a funding account financial institution in to the escrow account.

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