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Money transfer systems and methods for travelers

  • US 7,549,575 B2
  • Filed: 06/05/2007
  • Issued: 06/23/2009
  • Est. Priority Date: 10/26/1999
  • Status: Expired due to Fees
First Claim
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1. A method for transferring money from a sender to a recipient, wherein a transfer amount is to be paid to the recipient in one or more payment amounts by the recipient, and wherein a transfer fee is to be paid in connection with a transfer, the method comprising:

  • providing a sender presentation instrument for use by the sender in accessing a sender account at a sending terminal in order to provide the transfer amount, wherein the sender account is a loyalty program account having value other than monetary value;

    converting loyalty program value at a value translator to monetary value for use as at least a portion of the transfer amount or a transfer fee;

    receiving and storing at a host computer system money transfer information comprising recipient identification information and the transfer amount;

    providing a recipient presentation instrument for use in paying the recipient a payment amount;

    receiving at the host computer system a request to pay the recipient at least a portion of the transfer amount in response to use of the recipient presentation instrument at a receiving terminal; and

    storing a record at the host computer system of the payment amount.

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