System and method for transferring funds

A system comprising:

• a processor;
• network interface logic configured to control the processor to perform:
• registering a recipient using one or more public identifiers, each of the one or more public identifiers comprising contact information to contact the recipient, the recipient being registered by creating at a second financial institution a record in an information directory, the record comprising the one or more public identifiers, a private identifier of the recipient, an account number of a recipient second account of the recipient at the second financial institution, and a first mapping between the private identifier and the account number of the recipient second account, and the private identifier providing an additional level of security to facilitate secure communications over a computer network;
• automatically periodically confirming that each of the one or more public identifiers is usable to contact the recipient;
• receiving, through the computer network, an expedited funds transfer message, the expedited funds transfer message requesting that the second financial institution provide recipient funds to the recipient second account of the recipient at the second financial institution before sender funds are received by the second financial institution from a first financial institution, the first and second financial institutions being members of a computer-implemented payment network, and the expedited funds transfer message comprising the private identifier;
• determining the account number of the recipient second account using the private identifier;
• providing, based on the expedited funds transfer message, the recipient funds to the recipient second account, based on the account number of the recipient second account, prior to the second financial institution receiving the sender funds, the first financial institution removing the sender funds from a sender financial account at the first financial institution before providing the expedited funds transfer message and before the second financial institution provided the recipient funds to the recipient second account;
• and
• notifying the recipient, using at least one of the one or more public identifiers, that a payment has been provided to the recipient second account in real-time after initiation of the expedited funds transfer message from the first financial institution,
• wherein:
• the first financial institution sends the sender funds to the second financial institution using an automated clearing house (ACH) network after the recipient funds are provided to the recipient second account.

Non-transitory computer-readable media comprising executable instructions, the executable instructions being executable by a processor to perform a method, the method comprising:

• registering a recipient using one or more public identifiers, each of the one or more public identifiers comprising contact information to contact the recipient, the recipient being registered by creating at a second financial institution a record in an information directory, the record comprising the one or more public identifiers, a private identifier of the recipient, an account number of a recipient second account of the recipient at the second financial institution, and a first mapping between the private identifier and the account number of the recipient second account, and the private identifier providing an additional level of security to facilitate secure communications over a computer network;
• automatically periodically confirming that each of the one or more public identifiers is usable to contact the recipient;
• receiving, through the computer network, an expedited funds transfer message, the expedited funds transfer message requesting that the second financial institution provide recipient funds to the recipient second account of the recipient at the second financial institution before sender funds are received by the second financial institution from a first financial institution, the first and second financial institutions being members of a computer-implemented payment network, and the expedited funds transfer message comprising the private identifier;
• determining the account number of the recipient second account using the private identifier;
• providing, based on the expedited funds transfer message, the recipient funds to the recipient second account, based on the account number of the recipient second account, prior to the second financial institution receiving the sender funds, the first financial institution removing the sender funds from a sender financial account at the first financial institution before providing the expedited funds transfer message and before the second financial institution provided the recipient funds to the recipient second account;
• and
• notifying the recipient, using at least one of the one or more public identifiers, that a payment has been provided to the recipient second account in real-time after initiation of the expedited funds transfer message from the first financial institution,
• wherein:
• the first financial institution sends the sender funds to the second financial institution using an automated clearing house (ACH) network after the recipient funds are provided to the recipient second account.