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

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Hansen, Kurt L., Michelsen, Mike, Thompson, Mark, Seifert, Dean A.
• Primary Examiner(s): St. Cyr; Daniel
• Application Number:
  US11/758,101
• Publication Number:
  US 20080035723A1
• Time in Patent Office: 749 Days
• Field of Search: 235/379, 235/380, 235/382, 902/8, 902/20, 705/17, 705/39, 705/43, 705/64
• 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 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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: G06Q 99/00 Subject matter not provided for in other groups of this subclass
• 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

One method involves payment of money to a recipient traveling to one or more foreign countries by entering into a remote computer money transfer information from a sender. The money transfer information comprises recipient identification information, at least one country where the money is to be received, and a payment amount in an originating currency. The money transfer information is transmitted to a host computer system. When ready to receive payment in the designated country, recipient identification information along with a request to withdraw a portion of a possible payment amount is entered into a payout computer. The recipient identification information and the request to withdraw is transmitted to a host computer system, and the requested withdrawal is provided to the recipient in the local currency.

Claims

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.

2. A method as in claim 1, further comprising:

providing at the host system a stored value account and associating the transfer amount with the stored value account, wherein the stored value account has an account identifier, and wherein the recipient identification information stored at the host computer system includes the account identifier.

3. A method as in claim 1, wherein the sending terminal is in a first country and the receiving terminal is in a second country having a different a currency than the first country, wherein the money transfer information further comprises at least one second country where the money is to be paid, and wherein the method further comprises:

in response to receiving the second country at the host computer system, providing second country transfer information for use in paying the recipient the payment amount in the second country.

4. A method as in claim 3, further comprising storing a record at the host computer system of the exchange rate used to convert the withdrawn amount to the local currency of the second country.

5. A method as in claim 3, wherein the request includes the name of the sender, and wherein the sender and the recipient are the same, so that the sender has access to the transfer amount when traveling in the different country.

6. A method as in claim 3, further comprising receiving and storing at the host computer system multiple second countries where the money may be received.

7. A method as in claim 1, further comprising storing at the host computer system a record of any fees charged on the payment amount.

8. A method as in claim 1, wherein the recipient identification stored at the host computer system information comprises the recipient'"'"'s name and an identification number, and wherein the request includes an identification number stored on the recipient presentation instrument used by the recipient, and further comprising comparing the identification numbers to authorize the withdrawal.

9. A method as in claim 1, further comprising transmitting, from the host computer system to a money transfer location, receipt information needed to provide a receipt to the recipient.

10. A method as in claim 9, wherein the receipt information comprises an amount paid to the recipient, any fees, and a remaining balance of the transfer amount.

11. A method as in claim 1, further comprising:

notifying the recipient as to the remaining balance in the transfer amount.

12. A method as in claim 1, wherein the recipient information and transfer amount is entered by the sender at a self-service kiosk.

13. A method as in claim 12, wherein the self-service kiosk is an ATM.

14. A method as in claim 1, wherein the sender presentation instrument is selected from a group consisting of a credit card, a debit card, and a loyalty program card.

15. A method as in claim 1, wherein the recipient presentation instrument is selected from a group consisting of a debit card, an anonymous debit card, a phone card, a gas card and a stored value card.

16. A method as in claim 1, wherein the receiving terminal is a self-service kiosk.

17. A method as in claim 16, wherein the self-service kiosk is an ATM.

18. A method as in claim 1, wherein the receiving terminal is operated by a customer service representative at a money transfer location.

19. A method as in claim 1, wherein at least a portion of the payment amount is provided to the recipient in the form of cash.

20. A method as in claim 1, wherein at least a portion of the payment amount is provided to the recipient in a form selected from a group consisting of loyalty reward points, frequent flier miles, and telephone minutes.

21. A method for transferring money deposited by a sender at one or more deposit locations for withdrawal at one or more withdrawal locations by a recipient, wherein a transfer fee is associated with transferring money, wherein the deposited amount is to be withdrawn in portions at the withdrawal location, and wherein the method comprises:

using a sender presentation instrument to access a sender account to provide the transfer amount, wherein the sender account is a loyalty program account having stated value other than monetary;

converting loyalty program value to monetary value for use in transferring money;

receiving and storing at a host computer system money transfer information entered by the sender, wherein the money transfer information comprises recipient identification information and the deposited amount in monetary value;

receiving at the host computer system a request to withdraw at least a portion of the deposited amount; and

storing a record at the host computer system of the amount of each portion withdrawn.

22. A system for permitting money deposited by a sender to be withdrawn in portions by a recipient and wherein fees are charged for withdrawals comprising:

a host computer system that is configured to receive and store money transfer information entered by a sender when using a sender presentation instrument, the money transfer information comprising recipient identification information and a payment amount that is withdrawn from a sender account accessed by the sender presentation instrument;

wherein the host computer system is further configured to receive a request to withdraw at least a portion of the payment amount from a recipient using a recipient presentation instrument and to deduct the requested portion from the payment amount along with any fees;

wherein the sender account is a loyalty program account having value other than monetary value; and

wherein the host computer system is further configured to convert value in the loyalty program account into monetary value for the payment amount or a fee.

23. A system as in claim 22, wherein the host computer system is further configured to notify the recipient as to the remaining balance in the payment amount after withdrawal of the requested portion.

24. A system as in claim 22, further comprising:

a reader at a self-service terminal at a sender location for reading account identification information stored on the sender presentation instrument and identifying the sender account.

25. A system as in claim 24, wherein the sender location is in one country, wherein the money transfer information further comprises at least one second country where the money is to be withdrawn, and wherein the host computer is further configured to provide information pertaining to withdrawals in the second country in response to receipt of the second country information.

26. A system as in claim 22, wherein the host computer system is further configured to maintain a stored value account having an account number, wherein the account number comprises the recipient identification information, and to associate the payment amount with the stored value account.

27. A system as in claim 26 wherein the account number of the stored value account number is stored on the recipient presentation instrument.

28. A system as in claim 22, wherein the host computer system is further configured to receive recipient identification information from the recipient presentation instrument and to compare the received recipient identification information with the stored recipient identification information.