US 11,978,026 B2Granted

Transferring funds between two parties

AssigneeWells Fargo Bank, N.A.

InventorThomas B. Hayes

Life of this patent

Estimating the term…

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Abstract

A method for transferring funds to a second electronic computing device includes establishing a first pre-paid payment account on a first electronic computing device. The first pre-paid payment account is used to establish one or more second pre-paid payment accounts. The one or more second pre-paid payment accounts have a value that is less than or equal to the first pre-paid payment account. A first account identifier is obtained for one of the second pre-paid payment accounts. The first account identifier is sent to the second electronic computing device. The sending of the first account identifier to the second electronic computing device results in a transfer of ownership of the one more second pre-paid accounts from a first user at the first electronic computing device to a second user at the second electronic computing device.

Claims16

Dependent claims

A method implemented on financial institution electronic computing device of a financial institution for transferring ownership of a portion of funds from a first electronic computing device to a second electronic computing device, the method comprising:

receiving, from the first electronic computing device, a request to transfer the portion of funds from a financial account, associated with the first electronic computing device and accessible to the financial institution, to the second electronic computing device;
sending, from the financial institution electronic computing device to the first electronic computing device, a first account identifier, wherein the first account identifier is an identifier for the financial account from which the portion of funds is to be transferred to the second electronic computing device;
receiving at the financial institution electronic computing device, via a uniform resource locator (URL) for the financial institution, the first account identifier from the second electronic computing device, wherein the second electronic computing device receives the first account identifier and the URL for the financial institution from the first electronic computing device using a peer-to-peer connection or an Internet connection;
sending a second account identifier from the financial institution electronic computing device to the second electronic computing device, the second account identifier being created by the financial institution electronic computing device as an updated identifier for identifying the financial account upon receiving the first account identifier, and the second account identifier confirming a transfer of the ownership of the portion of funds to a user of the second electronic computing device.

1 more element

A financial institution electronic computing device of a financial institution comprising:

a processing unit;
and
system memory, the system memory including instructions which, when executed by the processing unit, cause the financial institution electronic computing device to:
receive, from a first electronic computing device, a request to transfer a portion of funds from a financial account, associated with the first electronic computing device and accessible to the financial institution, to a second electronic computing device;
send, from the financial institution electronic computing device to the first electronic computing device, a first account identifier, wherein the first account identifier is an identifier for the financial account from which the portion of funds is to be transferred to the second electronic computing device;
receive at the financial institution electronic computing device, via a uniform resource locator (URL) for the financial institution, the first account identifier from the second electronic computing device, wherein the second electronic computing device receives the first account identifier and the URL for the financial institution from the first electronic computing device using a peer-to-peer connection or an Internet connection;
send a second account identifier from the financial institution electronic computing device to the second electronic computing device, the second account identifier being created by the financial institution electronic computing device as an updated identifier for identifying the financial account upon receiving the first account identifier, and the second account identifier confirming a transfer of ownership of the portion of funds to a user of the second electronic computing device.

4 more elements

Dependencies are inferred from the claim text.

Facts

Application: 18/336,416Filed 16 Jun 2023 · continuation
Priority: 28 Apr 2016
Published: US 2023/0325795 A112 Oct 2023
Granted: 7 May 2024
Term ends: Not estimatedThe source records don’t support an estimate.

Classification14 codes

G06Q 20/10
Payment architectures: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
H04M 17/02
Prepayment of wireline communication systems, wireless communication systems or telephone systems: coin-freed or check-freed systems , e.g.…
G06Q 20/28
Payment schemes or models: pre-payment schemes, e.g. "pay before"
H04L 67/104
In which an application is distributed across nodes in the network: peer-to-peer [P2P] networks

Family

Application15/141,537Parent of this division · filed 28 Apr 2016
Application17/215,184Parent of this continuation · filed 29 Mar 2021
US 10,990,935 B1Parent of this division · filed 27 Apr 2021
US 2023/0325795 A1Pre-grant publication · published 12 Oct 2023
US 11,720,866 B1Parent of this continuation
Application17/215,184Parent of this division
US 11,978,026 B2This patent

From the US filing history. Foreign family members aren’t listed.