Integrated technology money transfer system

• US 8,620,809 B2
• Filed: 09/14/2012
• Issued: 12/31/2013
• Est. Priority Date: 09/26/2000
• Status: Expired due to Fees

• Current Assignee: Integrated Technological Systems, Inc.
• Original Assignee: Integrated Technological Systems, Inc.
• Inventors: Battaglini, Stephen D., Battaglini, Michael D., Starkey, Gil
• Primary Examiner(s): Dixon, Thomas
• Assistant Examiner(s): Fields, Benjamin S
• Application Number:
  US13/617,836
• Publication Number:
  US 20130246262A1
• Time in Patent Office: 473 Days
• Field of Search: 705/43, 705/38
• US Class Current: 705/43
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• 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 19/203 Dispensing operations within ATMs dispensing in general G07D11/00
• CPC Class Codes: H04M 3/51 Centralised call answering arrangements requiring operator intervention , e.g. call or contact centers for telemarketing

Abstract

Money transfer method and system for quickly and easily sending cash from one party via electronic mediums such as phones and computer modems using one of a credit card, debit card, ATM (automated teller machine) card, and/or a bank card and/or bank checking account and/or bank savings account, to another party who accesses an electronic retrieval site using a specialized card, credit card, debit card, ATM card account, or debit card account. Simultaneous money transfers from human sender'"'"'s available and accessible funds debit card accounts to human recipient'"'"'s receiving debit card accounts are processed by computer without the necessity of a pre-established relationship between the sending and receiving accounts, and the method and system repeats simultaneous money transfers between other senders and receivers.

Claims

1. A method for transferring available funds from senders to recipients, comprising:

providing for access to a computer system by a communication medium of a sender;

providing an escrow account to receive transferred funds;

determining funds to distribute to a recipient based on responses entered in reply to automated prompts from the computer system during a single communication from the sender through the communication medium and the computer system; and

providing for determined funds to be retrievable from the escrow account by the recipient using a debit card account of the recipient at an electronic terminal.

2. The method according to claim 1, wherein the communication medium is a phone.

3. The method according to claim 1, wherein the communication medium is a computer modem.

4. The method according to claim 1, wherein the escrow account is provided by a banking institution.

5. The method according to claim 4, wherein a transfer does not require a pre-established account link between the sender and the recipient.

6. The method according to claim 5, wherein the computer system repeats the above steps between different senders and different recipients, thus causing simultaneous fund transfer processes to effect fund transfers from the different senders to the different recipients.

7. A system for transferring funds from senders to recipients, comprising:

a computer processor being accessible to a sender by using a communication medium; and

an escrow account;

said computer processor determining funds to be distributed by the sender'"'"'s entering responses to automated prompts as a result of a single communication between the sender and the computer processor;

wherein the funds are distributed from an accessible funds account of the sender to an account of a recipient by the computer processor without needing a pre-established account link between the sender'"'"'s accessible funds account and the account of the recipient; and

wherein the funds are accessible to the recipient from an electronic terminal.

8. The system according to claim 7, wherein the communication medium is a phone.

9. The system according to claim 7, wherein the communication medium is a computer modem.

10. The system according to claim 7, wherein the computer processor repeats the above steps between different senders and different recipients, thus causing simultaneous fund transfer processes to effect fund transfers from multiple senders to multiple recipients.

11. A method for automatically transferring funds, comprising:

providing a computer configured to provide a person to person funds transfer system;

providing for the computer system to be accessible to a communication medium device that is controlled by a sender, said computer system being accessed by the communication medium device to receive information data related to a debit account of the sender and information data related to a receiving debit-accessible escrow account;

receiving account information data and transfer authorization data by the computer system;

processing the data in automated modes by the computer system;

transferring funds from the debit account of the sender to the receiving debit-accessible escrow account without requiring a pre-established relationship between the debit account of the sender and the receiving debit-accessible escrow account; and

repeating the above steps by the computer system, thus effecting additional transfers between different sending debit accounts and different receiving debit-accessible escrow accounts to cause fund transfers from the different sending debit accounts to the different receiving debit-accessible escrow accounts.

12. An automated computer person to person funds transfer system for transferring bank account funds from a sending bank account with available funds directly accessible by an individual person to a receiving bank account directly accessible by an individual person without a pre-established account link between the accounts, comprising:

a computer configured with an automated funds transfer system accessible to a person'"'"'s communication medium device to access and operate the automated funds transfer system to cause a funds transfer from a sending bank account to a receiving bank account;

wherein the computer is configured to receive identification information of the sending bank and sending bank account and of the receiving bank and receiving bank account from the communication medium device in a single communication;

wherein the computer is further configured to receive a transfer amount and a transfer authorization from the communication medium device in the single communication;

wherein the computer processes data received with data receiving and processing language utilizing adapters when needed to automatically and electronically transform the data received into a different data language for processing the funds transfer;

wherein the computer communicates the data received to an electronic processing medium to cause, as a result of the single communication, the funds transfer from the sending bank account to the receiving bank account;

wherein the funds transfer is accomplished without the necessity of an account link relationship having been pre-established between the sending bank account and the receiving bank account; and

wherein the automated funds transfer system simultaneously repeats those steps and, by the computer, causes additional fund transfers between different sending bank accounts with available and accessible funds and different receiving bank accounts.

13. The system according to claim 12, wherein a link is provided for the sending person'"'"'s communication medium device to utilize to access the computer with the funds transfer system.

14. The system according to claim 12, wherein the identification information of the sending bank account and the receiving bank account consists of bank routing numbers and bank account numbers.

15. The system according to claim 12, wherein the sending bank account is a bank escrow account.

16. The system according to claim 15, wherein the bank escrow account is a debit card account.

17. The system according to claim 12, wherein the receiving bank account is a bank escrow account.

18. The system according to claim 17, wherein the bank escrow account is a debit account.

19. The system according to claim 18, wherein the debit account is an electronic account that provides for payout upon transmission of account identification.

20. The system according to claim 19, wherein the electronic account is directly accessible for payout by utilizing a payout device.

21. The system according to claim 20, wherein the electronic account is directly accessible for payout by utilizing a debit card payout device.

22. The system according to claim 12, wherein the communication medium device is a phone.

23. The system according to claim 12, wherein the communication medium device is a modem.

24. The system according to claim 12, wherein the computer causes the funds transfer to the receiving bank account in a currency other than a currency of the sending bank account.

25. The system according to claim 12, wherein the electronic processing medium is an Automated Clearing House system.

26. The system according to claim 12, wherein the electronic processing medium is an Electronic Fund Transfer system.

27. The system according to claim 12, wherein the electronic processing medium is a debit card fund transfer system.

28. The system according to claim 12, wherein the electronic processing medium is a bank escrow accounting system which processes the funds transfer from one of the bank'"'"'s escrow accounts to another of the bank'"'"'s escrow accounts.