Method and system for performing money transfer transactions

• US 6,488,203 B1
• Filed: 10/26/1999
• Issued: 12/03/2002
• Est. Priority Date: 10/26/1999
• Status: Expired due to Term

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Seifert, Dean A., Stoutenburg, Earney E.
• Primary Examiner(s): Le, Thien M.
• Assistant Examiner(s): St. Cyr, Daniel
• Application Number:
  US09/427,249
• Time in Patent Office: 1,134 Days
• Field of Search: 235/379, 235/380, 235/382, 235/472.02, 705/35, 705/39, 705/40
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 19/201 Accessories of ATMs
• CPC Class Codes: G07F 19/203 Dispensing operations within ATMs dispensing in general G07D11/00

Abstract

A method of performing a send money transfer transaction through a financial services institution includes storing transaction details on a data base, wherein the transaction details include a desired amount of money to be sent; establishing a code that corresponds to the transaction details stored on the data base; entering the code into an electronic transaction fulfillment device in communication with the data base to retrieve the transaction details from the data base; and determining a collect amount based on the transaction details. A system for performing a send money transfer transaction is also disclosed.

Claims

1. A method of performing a money transfer send transaction, the method comprising:

providing a sender direct access to an employee of a financial services institution in order to receive transaction details from the sender;

storing, on a data base, the transaction details provided by the sender, wherein the transaction details include a desired amount of money to be sent by the sender to a recipient;

establishing a code that corresponds to the transaction details stored on the data base, wherein the code is established for use by the sender during the send transaction;

storing the code on the data base such that the code is useable to identify the send transaction on the data base;

entering the code into an electronic transaction fulfillment device in communication with the data base to retrieve the transaction details from the data base after the step of storing the code on the data base; and

determining a collect amount, to be collected from the sender, based on the transaction details;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

2. The method of claim 1 wherein providing a sender direct access to an employee of a financial services institution comprises providing an access card to the sender that is used on an electronic staging device to initiate a video conference with the employee.

3. The method of claim 1 wherein establishing a code comprises providing a numeric code to the sender, and wherein entering the code comprises entering the code on a numeric key pad of the electronic transaction fulfillment device.

4. The method of claim 1 wherein establishing a code comprises providing the code on an electronically readable card, and wherein entering the code comprises introducing the card into a card reader of the electronic transaction fulfillment device.

5. The method of claim 1 wherein establishing a code comprises printing the code using an optical character recognition font.

6. The method of claim 1 wherein establishing a code comprises printing the code using magnetic ink.

7. The method of claim 1 wherein establishing a code comprises establishing the code as a voice print, and wherein entering the code comprises entering the voice print into the electronic transaction fulfillment device using a voice scanner.

8. The method of claim 1 wherein establishing a code comprises establishing the code as an anatomical image, and wherein entering the code comprises entering the anatomical image into the electronic transaction fulfillment device using an image scanner.

9. The method of claim 1 wherein establishing a code comprises establishing the code as a fingerprint, and wherein entering the code comprises entering the fingerprint into the electronic transaction fulfillment device using a fingerprint scanner.

10. The method of claim 1 wherein establishing a code comprises establishing the code as a retinal image, and wherein entering the code comprises entering the retinal image into the electronic transaction fulfillment device using a retina scanner.

11. The method of claim 1 wherein establishing a code comprises establishing the code as a facial image, and wherein entering the code comprises entering the facial image into the electronic transaction fulfillment device using a face scanner.

12. The method of claim 1 wherein establishing a code comprises providing the code through the employee of the financial services institution.

13. The method of claim 1 wherein establishing a code comprises establishing the code through an electronic transaction staging device.

14. The method of claim 15 wherein the electronic transaction staging device and the electronic transaction fulfillment device are the same.

15. The method of claim 1 wherein the electronic fulfillment device is a kiosk.

16. The method of claim 1 further comprising:

collecting the collect amount;

notifying the data base that the collect amount has been collected; and

recording the transaction as sent.

17. The method of claim 1 further comprising printing a record corresponding to the money transfer transaction.

18. The method of claim 17 wherein printing a record comprises printing a negotiable instrument based on the code.

19. The method of claim 17 wherein printing a record comprises printing a receipt based on the code.

20. A method of performing a money transfer send transaction through a financial services institution, the method comprising:

providing a sender direct access to an employee of the financial services institution in order to receive transaction details from the sender, wherein the transaction details include a desired amount of money to be sent by the sender to a recipient;

storing the transaction details on a data base;

providing to the sender, via the employee of the financial services institution, a numeric code that corresponds to the transaction details stored on the data base, wherein the code is provided for use by the sender during the send transaction;

storing the code on the data base;

entering the code into an electronic terminal in communication with the data base to retrieve the transaction details from the data base after the step of storing the code on the data base;

determining a collect amount based on the transaction details; and

collecting the collect amount from the sender;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

21. A system for performing a money transfer send transaction, the system comprising:

a transaction staging device for providing a sender direct access to an employee of a financial services institution in order to receive transaction details from the sender;

a data base for storing the transaction details and a code that corresponds to the transactions details; and

an electronic transaction fulfillment device in communication with the data base, the electronic transaction fulfillment device being configured to receive the code and to retrieve the transaction details from the data base based on the code;

wherein the database is configured to validate the code received by the electronic transaction fulfillment device, and to provide a collect amount, to be collected from the sender, to the electronic transaction fulfillment device.

22. The system of claim 21 wherein the transaction staging device includes an encoder for encoding the code on a card, and the electronic transaction fulfillment device includes a card reader for receiving the card in order to read the code therefrom.

23. The system of claim 21 wherein the transaction staging device includes a first voice scanner for establishing the code as a voice print, and wherein the electronic transaction fulfillment device includes a second voice scanner for receiving the voice print.

24. The system of claim 21 wherein the transaction staging device includes a first anatomical image scanner for establishing the code as an anatomical image, and wherein the electronic transaction fulfillment device includes a second anatomical image scanner for receiving the anatomical image.

25. The system of claim 24 wherein the first anatomical image scanner includes a first fingerprint scanner for establishing the code as a fingerprint, and wherein the second anatomical image scanner includes a second fingerprint scanner for receiving the fingerprint.

26. The system of claim 24 wherein the first anatomical image scanner includes a first retina scanner for establishing the code as a retinal image, and wherein the second anatomical image scanner includes a second retina scanner for receiving the retinal image.

27. The system of claim 24 wherein the first anatomical image scanner includes a first face scanner for establishing the code as a facial image, and wherein the second anatomical image scanner includes a second face scanner for receiving the facial image.

28. A method of performing a money transfer send transaction, the method comprising:

a) storing, on a data base, transaction details provided by a sender through a transaction staging device that provides the sender direct access to an employee of a financial services institution, wherein the transaction details include a desired amount of money to be sent by the sender to a recipient;

b) storing, on the data base, a code for use by the sender during the send transaction, wherein the code corresponds to the transaction details stored on the data base;

c) receiving at the data base an entry provided by the sender and corresponding to the code;

d) validating the entry; and

e) providing, by the data base, a collect amount, to be collected from the sender, to an electronic transaction fulfillment device in communication with the data base if the entry is valid, wherein the collect amount is based on the desired amount of money to be sent;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

29. The method of claim 28 wherein the code includes a number.

30. The method of claim 28 wherein the code includes a letter.

31. The method of claim 28 wherein the code includes a symbol.

32. The method of claim 28 wherein the code includes a voice print.

33. The method of claim 28 wherein the code includes an anatomical image.

34. The method of claim 28 wherein the code includes a fingerprint.

35. The method of claim 28 wherein the code includes a retinal image.

36. The method of claim 28 wherein the code includes a facial image.

37. The method of claim 28 wherein step c) includes receiving, at the data base, the entry from the electronic transaction fulfillment device.

38. The method of claim 28 further comprising receiving at the data base an additional entry, corresponding to the desired amount of money, from the electronic transaction fulfillment device, and validating the additional entry at the data base prior to performing step e).

39. A method of performing a money transfer send transaction, the method comprising:

receiving, by an employee of a financial services institution, transaction details provided by a sender through a transaction staging device that provides the sender direct access to the employee of the financial services institution, wherein the transaction details include a desired amount of money to be sent by the sender to a recipient;

storing the transaction details on a data base of the financial services institution;

providing to the sender, via the employee of the financial services institution, a numeric code that corresponds to the transaction details stored on the data base, wherein the code is provided for use by the sender during the send transaction;

receiving at the data base an entry, provided by the sender and corresponding to each of the desired amount of money to be sent and the code, from an electronic transaction fulfillment device in communication with the data base;

validating the entry at the data base; and

providing a collect amount, to be collected from the sender, to the electronic transaction fulfillment device if the entry is valid, wherein the collect amount is based on the desired amount of money to be sent;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

42. The method of claim 39 wherein establishing a code comprises providing the code on an electronically readable card, and wherein receiving the code comprises receiving the card in a card reader of the electronic transaction fulfillment device.

43. The method of claim 39 wherein establishing a code comprises printing the code using an optical character recognition font.

44. The method of claim 39 wherein establishing a code comprises printing the code using magnetic ink.

45. The method of claim 39 wherein establishing a code comprises establishing the code as a voice print, and wherein receiving the code comprises receiving the voice print at the electronic transaction fulfillment device through a voice scanner.

46. The method of claim 39 wherein establishing a code comprises establishing the code as an anatomical image, and wherein receiving the code comprises receiving the anatomical image at the electronic transaction fulfillment device through an image scanner.

47. The method of claim 39 wherein establishing a code comprises establishing the code as a fingerprint, and wherein receiving the code comprises receiving the fingerprint at the electronic transaction fulfillment device through a fingerprint scanner.

48. The method of claim 39 wherein establishing a code comprises establishing the code as a retinal image, and wherein receiving the code comprises receiving the retinal image at the electronic transaction fulfillment device through a retina scanner.

49. The method of claim 39 wherein establishing a code comprises establishing the code as a facial image, and wherein receiving the code comprises receiving the facial image at the electronic transaction fulfillment device through a face scanner.

40. A method of performing a money transfer send transaction, the method comprising:

storing, on a data base, transaction details provided by a sender through a transaction staging device that provides the sender direct access to an employee of a financial services institution, wherein the transaction details include a desired amount of money to be sent by the sender to a recipient;

establishing a code that corresponds to the transaction details stored on the data base, wherein the code is established for use by the sender during the send transaction;

storing the code on the data base;

receiving the code at an electronic transaction fulfillment device in communication with the data base after the step of storing the code on the data base;

determining a collect amount, to be collected from the sender, based on the transaction details; and

providing, by the data base, the collect amount and the transaction details to the electronic transaction fulfillment device;

wherein the code is not provided by or to the recipient for use by the recipient during the send transaction.

41. The method of claim 40 wherein establishing a code comprises providing a numeric code to the sender, and wherein receiving the code comprises receiving the code through a numeric key pad of the electronic transaction fulfillment device.

50. The method of claim 40 wherein establishing a code comprises providing the code to the sender through the employee of the financial services institution.

51. The method of claim 40 wherein establishing a code comprises establishing the code through the transaction staging device.