Method and system for performing money transfer transactions

• US 6,761,309 B2
• Filed: 11/07/2002
• Issued: 07/13/2004
• 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): St. Cyr, Daniel
• Application Number:
  US10/289,802
• Publication Number:
  US 20030083987A1
• Time in Patent Office: 614 Days
• Field of Search: 235/379, 235/380, 235/382, 235/462.46, 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

receiving transaction details on a data base from a transaction staging device that is used to stage the send transaction, wherein the transaction details include a desired amount of money to be sent by a sender;

storing the transaction details on the data base;

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 and is useable to identify the send transaction on the data base;

receiving at the data base an entry, provided by the sender and corresponding to the code, from a transaction fulfillment device in communication with the data base;

validating the entry at the data base; and

providing by the data base a collect amount, to be collected from the sender, to the transaction fulfillment device if the entry is valid, wherein the collect amount is based on the transaction details;

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

2. The method of claim 1 wherein the transaction staging device provides direct access to the data base.

3. The method of claim 1 wherein the code comprises a number.

4. The method of claim 1 further comprising providing the code on an electronically readable card that is provided to the sender.

5. The method of claim 1 further comprising printing the code using an optical character recognition font.

6. The method of claim 1 further comprising printing the code using magnetic ink.

7. The method of claim 1 wherein the code comprises a voice print.

8. The method of claim 1 wherein the code comprises an anatomical image.

9. The method of claim 1 wherein the code comprises a fingerprint.

10. The method of claim 1 wherein the code comprises a retinal image.

11. The method of claim 1 wherein the code comprises a facial image.

12. The method of claim 1 further comprising providing the code through an employee of the financial services institution in order for the code to be received by the sender.

13. The method of claim 1 further comprising providing the code from the data base to the transaction staging device in order for the code to be received by the sender.

14. The method of claim 1 wherein the transaction staging device and the transaction fulfillment device are the same.

15. The method of claim 1 wherein the transaction 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 send 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. The method of claim 1 further comprising receiving at the data base an additional entry, corresponding to the desired amount of money, from the transaction fulfillment device, and validating the additional entry at the data base prior to the providing step.

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

receiving transaction details on a data base from an electronic transaction staging device that is used to stage the send transaction, wherein the transaction details are provided by a sender and include a desired amount of money to be sent by the sender to a recipient;

storing the transaction details on the data base;

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;

providing the code from the data base to the electronic transaction staging device in order for the code to be received by the sender;

receiving at the data base an entry, provided by the sender and corresponding to the code, from an electronic transaction fulfillment device in communication with the data base;

validating the entry at the data base; and

providing by the data base 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 transaction details;

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

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

receiving transaction details on a data base from a transaction staging device that is used to stage the send transaction, wherein the transaction details include a desired amount of money to be sent by a sender;

storing the transaction details on the data base;

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 and is useable to identify the send transaction on the data base;

receiving at the data base an entry, provided by the sender and corresponding to the code, from a transaction fulfillment device in communication with the data base;

validating the entry; and

collecting a collect amount from the sender if the entry is valid, wherein the collect amount corresponds to the desired amount of money to be sent by the sender;

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