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Money-transfer techniques

  • US 9,058,625 B2
  • Filed: 01/06/2004
  • Issued: 06/16/2015
  • Est. Priority Date: 01/05/2000
  • Status: Expired due to Fees
First Claim
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1. A method for accessing funds associated with a financial instrument, comprising:

  • generating by a financial system a funds-access code including the steps of generating, by a computer connected to a communication network, a random code that is the funds-access code;

    creating and storing by the computer a fund access code record containing the generated funds-access code and accompanying identification information about a recipient in a database accessible to a remote computer connected to the communication network, and linking by the computer the fund access code record to a financial instrument containing funds;

    supplying a carryable funds-access device to a distributor by a supplier of the financial system, the carryable funds-access device being in an inactive state and corresponding to the fund access code record;

    prior to activating the carryable funds-access device from the inactive state to a distributed state, preventing access, by the computer, to the funds associated with the financial instrument;

    supplying the funds-access code to the recipient;

    activating the carryable funds-access device from the inactive state to the distributed state by the remote computer of the distributor of the financial system;

    prior to activating the carryable funds-access device from the distributed state to an activated state, preventing access, by the computer, to the funds associated with the financial instrument;

    receiving by the remote computer of the distributor of the financial system of the funds-access code from the recipient;

    validating, in the distributed state of the carryable funds-access device, by the distributor the presented funds-access code by comparing the presented funds-access code and the recipient'"'"'s identification information with the information in the fund access code record in the database via the remote computer connected to the communication network;

    activating by the remote computer of the distributor the carryable funds-access device to the activated state after confirmation of the presented funds-access code including the steps of activating one of multiple inactive carryable funds-access devices located at the distributor'"'"'s location,creating and storing a funds-access device record representing the activated funds-access device in the database via the remote computer connected to the communication network, and linking via the remote computer connected to the communication network the funds-access device record to the financial instrument that is currently linked to the fund access code record;

    after activating the carryable funds-access device to the activated state, permitting access, by the computer, to the funds associated with the financial instrument;

    presenting by the distributor the recipient with the activated funds-access device;

    dispensing by the computer of the financial system the funds associated with the financial instrument in response to the utilization of the funds-access device at a location remote from a location of the distributor.

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