Methods and systems for transferring funds
First Claim
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1. A method of electronically transferring funds, the method comprising:
- sending a transfer request that includes transfer information associated with personal information and including an amount to be transferred from an independent host system to a central processing center;
sending a status response from the central processing center to the independent host system;
receiving transfer information and personal identification from a receiver at a distribution center;
comparing for confirmation purposes the transfer information sent from the independent host system and the transfer information received from the receiver;
sending an authorization from the central processing center to the distribution center to distribute cash in accordance with the transfer request; and
distributing funds from the distribution center to the receiver.
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Abstract
Methods and systems for transferring funds are disclosed that utilize a transfer card issued to a sender that enables the sender to transfer funds at independent host locations. The transfer card is encoded with information about the sender and the intended receiver so that transfer forms are not required for each transaction. The receiver obtains the funds via a distribution center, wherein the personal identity of the receiver is verified before the funds are distributed.
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Citations
34 Claims
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1. A method of electronically transferring funds, the method comprising:
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sending a transfer request that includes transfer information associated with personal information and including an amount to be transferred from an independent host system to a central processing center;
sending a status response from the central processing center to the independent host system;
receiving transfer information and personal identification from a receiver at a distribution center;
comparing for confirmation purposes the transfer information sent from the independent host system and the transfer information received from the receiver;
sending an authorization from the central processing center to the distribution center to distribute cash in accordance with the transfer request; and
distributing funds from the distribution center to the receiver. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of electronically transferring funds from a sender to a receiver by way of an independent host system, the method comprising:
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sending a transfer request from the sender to the independent host system via a source that personally identifies the sender, the transfer request comprising transfer information that at least indicates a monetary amount to be received by the receiver;
sending a status response from a central processing center to the independent host system that at least indicates that funds may be transferred by the sender to the receiver;
receiving at a distribution center personal information of the receiver and transfer information corresponding with the transfer information sent from the sender;
confirming the transfer information and personal identity of the receiver;
sending an authorization indicating that the monetary amount can be received by the receiver; and
distributing funds from the distribution center to the receiver. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20)
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21. An electronic funds transfer system for transferring funds from a sender to a receiver by utilizing an independent host system, the electronic funds transfer system comprising:
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a transfer card unique to the sender that is capable of being read electronically or manually by the independent host system, said transfer card associated with personal information about the sender;
a central processing center operably connected to the independent host system such that transfer information from the sender can be transferred to the central processing center via the independent host system; and
a distribution center operably connected to the central processing center, said distribution center operable to receive transfer information from the central processing center and to receive personal identification and transfer information from the receiver in order to effect the transfer of funds. - View Dependent Claims (22, 23, 24, 25, 26, 27)
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28. A method of utilizing an existing third party point-of-sale device for transferring funds between a sender and a receiver, the method comprising:
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receiving transfer information that includes personal information at least about the sender, the transfer information being associated with a transfer card readable by the existing third party point-of-sale device;
transferring cash from the sender to the third party;
sending transfer information from the third party to a central processing center that includes a transaction code;
receiving personal identification and the transaction code from the receiver by personnel of a distribution center; and
distributing funds from the distribution center to the receiver in an amount to be transferred. - View Dependent Claims (29, 30, 31, 32, 33, 34)
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Specification