Method for receiving electronically transferred funds using an automated teller machine

A method for performing a money transfer transaction, the method comprising:

• storing transaction data on a host computer system, wherein the transaction data includes a desired amount of money to be electronically transferred from a sender to a recipient;
• receiving at the host computer system transaction identifying information from a receive-transaction initiating terminal in communication with the host computer system, wherein the transaction identifying information is provided by the recipient;
• comparing the transaction identifying information with the transaction data stored on the host computer system;
• providing, by the host computer system, an identification number and a confirmation code to the receive-transaction initiating terminal, for issuance to the recipient, if the transaction identifying information matches the transaction data stored on the host computer system;
• storing the identification number and the confirmation code on the host computer system;
• receiving at the host computer system input corresponding to the identification number and the confirmation code from a dispensing terminal in communication with the host computer system;
• comparing the input to the identification number and the confirmation code stored on the host computer system;
• and
• authorizing funds corresponding to at least a portion of the desired amount of money to be dispensed by the dispensing terminal if the input matches the identification number and the confirmation code stored on the host computer system.