Systems and methods for money sharing

• US 8,204,829 B2
• Filed: 10/15/2004
• Issued: 06/19/2012
• Est. Priority Date: 10/17/2003
• Status: Active Grant

• Current Assignee: MoneyGram Payment Systems Incorporated (MoneyGram International Incorporated)
• Original Assignee: Nexxo Financial Corp. (MoneyGram International Incorporated)
• Inventors: Alvarez, David R., Shapiro, Mitchell A.
• Primary Examiner(s): Oyebisi, Ojo O
• Application Number:
  US10/966,958
• Publication Number:
  US 20050086168A1
• Time in Patent Office: 2,804 Days
• Field of Search: 705/39, 705/35, 705/43
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/229 Hierarchy of users of accounts
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G07F 19/20 Automatic teller machines [ATMs]
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A system and a method for money sharing are provided. The system includes a processor configured to receive a deposit amount and assign an account value to a stored-value account. The stored-value account is stored in a storage device. The processor then dispenses two or more stored-value cards associated with the stored-value account. The stored-value cards can be distributed among two or more cardholders who may withdraw money from the stored-value account at a remote access unit configured to accept any of the distributed stored-value cards associated with the same account. Additional deposit amounts can be received into the stored-value account from a cardholder of any distributed stored-value cards associated with the same account. The remote access unit can be unattended. The cards can be ATM-enabled.

Claims

1. A kiosk comprising:

a monetary transaction device configured to receive a deposit amount;

a processor configured to enable a processing system to assign an account value calculated from the deposit amount to a stored-value account, the stored-value account being other than a demand deposit account (DDA) or a line of credit; and

a card dispensing system configured to dispense a first stored-value card and a second stored-value card associated with the stored-value account, the first stored-value card and the second stored-value card configured to access the stored value account, the first stored-value card and the second stored-value card configured to access the kiosk, a different kiosk, or a remote access unit to withdraw at least a part of the account value from the stored-value account, and the first stored-value card and the second stored-value card configured to access the kiosk, the different kiosk, or the remote access unit to deposit an additional amount into the stored-value account.

2. The kiosk of claim 1 which is unattended and further configured to create the stored-value account without requiring an account holder to preregister.

3. The kiosk of claim 1 wherein the first stored-value card and the second stored-value card are enabled to operate an Automatic Teller Machine (ATM).

4. The kiosk of claim 1 wherein the first stored-value card and the second stored-value card are identical.

5. The kiosk of claim 1 wherein the kiosk is further configured to receive user identification information including at least one biometric attribute.

6. The kiosk of claim 1 wherein the stored-value account is created after an initial deposit amount has been received.

7. The kiosk of claim 1 wherein the stored-value account is a master stored-value account associated with one or more money sharing sub-accounts.

8. The kiosk of claim 1 wherein the DDA is a checking account.

9. The kiosk of claim 1 wherein the line of credit is a credit card.