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Method for receiving electronically transferred funds using an automated teller machine

  • US 7,617,157 B2
  • Filed: 01/03/2002
  • Issued: 11/10/2009
  • Est. Priority Date: 01/03/2002
  • Status: Expired due to Fees
First Claim
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1. A method for performing a money transfer receive transaction involving a desired amount of money to be transferred from a sender to a recipient, the method comprising:

  • receiving transaction identifying information provided by the recipient, wherein the transaction identifying information is not operable at a dispensing terminal;

    comparing the transaction identifying information with transaction data stored on a host computer system;

    providing a confirmation code, to be issued to the recipient, if the transaction identifying information matches the transaction data stored on the host computer system;

    storing the confirmation code on the host computer system;

    receiving at the host computer system input corresponding to the confirmation code from the dispensing terminal in communication with the host computer system;

    comparing the input to the confirmation code stored on the host computer system; and

    allowing funds, corresponding to at least a portion of the desired amount of money, to be dispensed by the dispensing terminal if the input matches the confirmation code stored on the host computer system.

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