×

Computerized money transfer system and method

  • US 9,076,134 B2
  • Filed: 10/15/2001
  • Issued: 07/07/2015
  • Est. Priority Date: 10/15/2001
  • Status: Active Grant
First Claim
Patent Images

1. A computerized money transfer system implementing a money transfer service for transferring money from a sending entity to at least one receiving entity comprising:

  • a a plurality of agent terminals that is operated by agents of the money transfer service, said agent terminal being interconnected by a communications network;

    a money transfer control system connected by the communications network to the plurality of agent terminals, wherein said money transfer control system solely controls and implements a money transfer transaction in the money transfer service, the money transfer control system including an agent account data store storing account data for each agent, and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity, wherein the money transfer control system is positioned in a first currency location with first local money transfer regulations;

    wherein at least one of said agent terminals, located in a second currency location with second local money transfer regulations and part of a first organization having a sending agent and a sending entity, (i) is responsive to data input by the sending agent instigating a money transfer requested by the sending entity to at least one receiving entity that is part of a second organization different from the first organization, and (ii) transmits the input data to the money transfer control system;

    wherein the input data identifies the sending and receiving entity or entities, the sending agent, and at least one receiving agent, who is part of the second organization, and transmits the money transferred thereto to the each receiving entity;

    wherein the money transfer control system applies first local money transfer regulations and second local money transfer regulations to the money transfer request;

    wherein the money transfer control system records the input data in said transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity, with the sending agent terminal and the receiving agent terminal being in separate currency locations, and updates the agent account data in the agent account data store for the sending and receiving agents;

    wherein the first organization and the second organization are unrelated, and a money transfer transaction occurs through and is solely controlled by the money transfer control system;

    wherein the money transfer control system implements and carries out the money transfer transaction between the sending agent and the at least one receiving agent such that the sending agent communicates with the money transfer control system, and the at least one receiving agent communicates with the money transfer control system; and

    wherein neither the sending entity nor the sending agent is required to communicate directly with or send information directly to either one of the at least one receiving agent and the at least one receiving entity, in order to verify or complete the money transfer transaction.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×