# US 10,318,936 B2 · System and method for transferring funds > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 10,318,936 B2 - Document ID: US10318936B2 - Status: Granted - Kind: B2 - Application number: 14/587,745 - Filed: 2014-12-31 - Published: 2015-04-23 - Granted: 2019-06-11 - Earliest claimed: 2012-03-07 - Assignees: Early Warning Services, LLC - Applicants: Early Warning Services, LLC - Inventors: Sri Saravana Muthu; Jeffrey Cornman; Michael Joseph Kennedy; Sergei Lilichenko; Melissa Lowry; Clinton Gilliam, III - Web page: https://patentgrep.com/patent/US10318936B2 ## CPC - G06Q 20/10: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems - G06Q 20/385: {using an alias or single-use codes} - G06Q 20/405: {Establishing or using transaction specific rules} - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract A method for facilitating real time transfer of funds from a sender to a recipient includes receiving an expedited funds transfer request from the sender having a first account at a first financial institution, the recipient having a second account at a second financial institution, the first and second financial institutions being members of a computer-implemented payment network including a plurality of member financial institutions; and sending a message to the second financial institution to deposit funds into the second account, wherein the second financial institution deposits funds into the second account, and wherein the first financial institution settles with the second financial institution after the second financial institution deposits funds into the second account. ## Claims ### Claim 1 A method comprising: registering, by a second computer system associated with a second financial institution, 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 the 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, by the second computer system, that each of the one or more public identifiers is usable to contact the recipient; receiving, through the computer network, by the second computer system, 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, by the second computer system, 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, a first computer system associated with 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, by the second computer system, 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 computer system associated with 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. ### Claim 2 (depends on 1) The method of claim 1, wherein an agreement to expedite transfer of funds exists between the first and second financial institutions before the expedited funds transfer message is received by the second computer system. ### Claim 3 (depends on 1) The method of claim 1, wherein the first and second financial institutions have agreed to send and receive expedited transfer of funds to and from all other members of the computer-implemented payment network before allowing the expedited funds transfer message to be sent. ### Claim 4 (depends on 1) The method of claim 1, wherein the first financial institution sends the sender funds to the second financial institution as part of a scheduled batch reconciliation. ### Claim 5 (depends on 1) The method of claim 1, further comprising checking if the recipient is eligible to receive expedited payments. ### Claim 6 (depends on 1) The method of claim 1, wherein the first financial institution checks whether the sender financial account contains enough funds to cover the recipient funds before the expedited funds transfer message is sent. ### Claim 7 (depends on 1) The method of claim 1, wherein the recipient must accept the recipient funds before the second computer system provides the recipient funds into the recipient second account. ### Claim 8 (depends on 1) The method of claim 1, wherein the recipient has previously registered as a user of the second financial institution. ### Claim 9 (depends on 1) The method of claim 1, wherein: a payment service computer system of the computer-implemented payment network stores a second mapping between the one or more public identifiers and the private identifier. ### Claim 10 (depends on 1) The method of claim 1, wherein: the private identifier is not shared with the recipient; and the private identifier is not shared with a sender associated with the sender financial account at the first financial institution. ### Claim 11 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. ### Claim 12 (depends on 11) The system of claim 11, wherein the network interface logic is further configured to control the processor to perform checking if the recipient is eligible to receive expedited payments before the expedited funds transfer message is received. ### Claim 13 (depends on 11) The system of claim 11, wherein the recipient must accept the recipient funds before the second financial institution provides the recipient funds into the recipient second account. ### Claim 14 (depends on 11) The system of claim 11, wherein: a payment service computer system of the computer-implemented payment network stores a second mapping between the one or more public identifiers and the private identifier. ### Claim 15 (depends on 11) The system of claim 11, wherein: the private identifier is not shared with the recipient; and the private identifier is not shared with a sender associated with the sender financial account at the first financial institution. ### Claim 16 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. ### Claim 17 (depends on 16) The non-transitory computer-readable media of claim 16, wherein an agreement to expedite transfer of funds exists between the first and second financial institutions before the expedited funds transfer message is received through the computer network. ### Claim 18 (depends on 16) The non-transitory computer-readable media of claim 16, wherein the first and second financial institutions have agreed to send and receive expedited transfer of funds to and from all other members of the computer-implemented payment network before allowing the expedited funds transfer message to be sent. ### Claim 19 (depends on 16) The non-transitory computer-readable media of claim 16, wherein the first financial institution sends the sender funds to the second financial institution as part of a scheduled batch reconciliation. ### Claim 20 (depends on 16) The non-transitory computer-readable media of claim 16, wherein the method further comprises checking if the recipient is eligible to receive expedited payments before the expedited funds transfer message is received. ### Claim 21 (depends on 16) The non-transitory computer-readable media of claim 16, wherein the recipient must accept the recipient funds before the second financial institution provides the recipient funds into the recipient second account. ### Claim 22 (depends on 11) The system of claim 11, wherein an agreement to expedite transfer of funds exists between the first and second financial institutions before the expedited funds transfer message is received through the computer network. ### Claim 23 (depends on 11) The system of claim 11, wherein the first and second financial institutions have agreed to send and receive expedited transfer of funds to and from all other members of the computer-implemented payment network before allowing the expedited funds transfer message to be sent. ### Claim 24 (depends on 11) The system of claim 11, wherein the first financial institution sends the sender funds to the second financial institution as part of a scheduled batch reconciliation. ### Claim 25 (depends on 16) The non-transitory computer-readable media of claim 16, wherein: a payment service computer system of the computer-implemented payment network stores a second mapping between the one or more public identifiers and the private identifier. ### Claim 26 (depends on 16) The non-transitory computer-readable media of claim 16, wherein: the private identifier is not shared with the recipient; and the private identifier is not shared with a sender associated with the sender financial account at the first financial institution.