Multiple-network system and method for loading, transferring and redeeming value through stored value accounts

• US 20050269396A1
• Filed: 05/18/2005
• Published: 12/08/2005
• Est. Priority Date: 05/18/2004
• Status: Active Grant

• Current Assignee: Teletouch Communications Incorporated
• Original Assignee: AIR-Bank, LLC
• Inventors: Schofield, Richard W.
• Granted Patent: US 7,252,223 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/04 Billing or invoicing

Abstract

A system and method for loading, transferring and redeeming value whereby two different systems of stored value accounts, one system being on a major network and the second system being on a secondary network, are linked, providing multiple paths to perform critical operations.

Claims

1. A system for storing and transferring funds, comprising:

(a) a first network for electronically transferring funds to and from stored value accounts; and

(b) a second network for electronically transferring funds to and from stored value accounts;

(c) wherein funds can be exchanged between a first account associated with said first network and a second account associated with said second network.