US 2004/0024696 A1 · System for automatically transferring funds

Abstract

A system enables a payer to transfer funds to a payee. The system includes a first location where a payee can purchase a payee card and a second location where a payer can purchase a payer card for transferring a designated amount of money. The system also includes a central processor that can approve or reject a transfer of money from the payer to the payee, notify an AVRS of whether the requested transfer has been approved or rejected, and authorize an ATM to pay out money. An AVRS in the system can, when called by the payer, transmit information from the payer to the central processor and notify the payer whether a requested transfer is approved or rejected. Finally, at least one ATM in the system can pay out money if the requested transfer is approved.

Claims20

Dependent claims

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card;
(B) providing a second location where a payer can purchase a payer card for transferring a designated amount of money;
(C) providing a central processor that can
(1) approve or reject a transfer of money from said payer to said payee;
(2) notify an AVRS of whether said transfer has been approved or rejected;
and
(3) authorize an ATM to pay out money;
(d) providing an AVRS that can, when called by said payer,
(1) transmit information from said payer to said central processor;
and
(2) notify said payer whether a requested transfer is approved or rejected;
and
(e) providing at least one ATM that can pay out money when said payee card is inserted into it and said central processor authorizes payment.

10 more elements

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card having an encoded identifying number that can be read by an ATM and having a first PIN printed thereon;
(B) providing a second location where a payer can purchase a payer card for transferring a first amount of money, where said payer card has a second PIN printed thereon;
(C) providing a central processor having a database that comprises a payee account identified with said first PIN and said encoded identifying number and a payer account identified with said second PIN, where said central processor can
(1) receive information from an AVRS, said information including said first and second PINs and a second amount of money, the amount that said payer would like to transfer;
(2) determine
(a) whether said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) a third amount of money, the amount in said payer account;
(3) notify said AVRS of said third amount;
(4) notify said AVRS that a transfer of said second amount is approved if said payee account is identified with said first PIN and said payer account is identified with said second PIN and said second amount does not exceed said third amount;
(5) authorize an ATM to pay out said second amount;
and
(D) providing an AVRS that can, when called by a payer,
(1) receive from said payer information that comprises said first and second PINs and said second amount and transmit that information to said central processor;
(2) inform said payer of said third amount;
and
(3) inform said payer whether the transfer of said second amount is approved;
(E) providing at least one ATM that can pay out money when
(1) said payee card is inserted into said ATM;
(2) said first PIN is entered into said ATM;
and
(3) said central processor authorizes payment.

19 more elements

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card having
(1) a magnetically-encoded identifying number that can be read by an ATM;
(2) a first PIN printed thereon;
and
(3) a first telephone number printed thereon;
(B) providing a second location where a payer can purchase a payer card for transferring a first amount of money, where said payer card has a second PIN and a second telephone number printed thereon;
(C) providing a central processor having a database that comprises
(1) a payee account identified with said first PIN, said first location, said magnetically-encoded identifying number, and a second amount, where said second amount is the amount in the account;
and
(2) a payer account identified with said second PIN, said second location, and a third amount, where said third amount is the amount in said payer account;
where said central processor can
(1) receive information from an AVRS, said information including said first and second PINs and a fourth amount of money, where said fourth amount is the amount that said payer would like to transfer;
(2) determine
(a) if said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) whether said fourth amount exceeds said third amount;
(3) notify said AVRS of said third amount;
(4) notify said AVRS that a transfer of said fourth amount is approved if
(a) said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) said fourth amount does not exceed said third amount;
and
(5) if said transfer is approved, debit said payer account and credit said payee account for said fourth amount;
(6) receive information from an ATM, said information comprising
(a) said magnetically-encoded identifying number;
(b) said first PIN;
and
(c) a fifth amount of money, where said fifth amount is the amount that said payee wishes to withdraw from said payee account;
(7) determine whether said fifth amount exceeds said second amount;
(8) authorize a bank to pay out said fifth amount from said ATM when said fifth amount does not exceed said second amount;
and
(9) debit said payee account by said fifth amount;
(D) providing an AVRS that can, when called by a payer,
(1) receive from said payer information that comprises said first and second PINs and said fourth amount and transmit said information to said central processor;
and
(2) inform said payer whether the transfer of said fourth amount is approved;
(E) providing a bank that can, when authorized to do so by said central processor, direct at least one ATM to pay out said fifth amount;
and
(E) providing at least one ATM that can pay out said fifth amount when
(1) said payee card is inserted into said ATM;
(2) said first PIN is entered into said ATM;
and
(3) said ATM is directed to pay out said fifth amount by said bank.

40 more elements

Dependencies are inferred from the claim text.

Abstract

Claims20

Dependent claims

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card;
(B) providing a second location where a payer can purchase a payer card for transferring a designated amount of money;
(C) providing a central processor that can
(1) approve or reject a transfer of money from said payer to said payee;
(2) notify an AVRS of whether said transfer has been approved or rejected;
and
(3) authorize an ATM to pay out money;
(d) providing an AVRS that can, when called by said payer,
(1) transmit information from said payer to said central processor;
and
(2) notify said payer whether a requested transfer is approved or rejected;
and
(e) providing at least one ATM that can pay out money when said payee card is inserted into it and said central processor authorizes payment.

10 more elements

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card having an encoded identifying number that can be read by an ATM and having a first PIN printed thereon;
(B) providing a second location where a payer can purchase a payer card for transferring a first amount of money, where said payer card has a second PIN printed thereon;
(C) providing a central processor having a database that comprises a payee account identified with said first PIN and said encoded identifying number and a payer account identified with said second PIN, where said central processor can
(1) receive information from an AVRS, said information including said first and second PINs and a second amount of money, the amount that said payer would like to transfer;
(2) determine
(a) whether said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) a third amount of money, the amount in said payer account;
(3) notify said AVRS of said third amount;
(4) notify said AVRS that a transfer of said second amount is approved if said payee account is identified with said first PIN and said payer account is identified with said second PIN and said second amount does not exceed said third amount;
(5) authorize an ATM to pay out said second amount;
and
(D) providing an AVRS that can, when called by a payer,
(1) receive from said payer information that comprises said first and second PINs and said second amount and transmit that information to said central processor;
(2) inform said payer of said third amount;
and
(3) inform said payer whether the transfer of said second amount is approved;
(E) providing at least one ATM that can pay out money when
(1) said payee card is inserted into said ATM;
(2) said first PIN is entered into said ATM;
and
(3) said central processor authorizes payment.

19 more elements

A method of enabling a payer to transfer funds to a payee comprising

(A) providing a first location where a payee can purchase a payee card having
(1) a magnetically-encoded identifying number that can be read by an ATM;
(2) a first PIN printed thereon;
and
(3) a first telephone number printed thereon;
(B) providing a second location where a payer can purchase a payer card for transferring a first amount of money, where said payer card has a second PIN and a second telephone number printed thereon;
(C) providing a central processor having a database that comprises
(1) a payee account identified with said first PIN, said first location, said magnetically-encoded identifying number, and a second amount, where said second amount is the amount in the account;
and
(2) a payer account identified with said second PIN, said second location, and a third amount, where said third amount is the amount in said payer account;
where said central processor can
(1) receive information from an AVRS, said information including said first and second PINs and a fourth amount of money, where said fourth amount is the amount that said payer would like to transfer;
(2) determine
(a) if said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) whether said fourth amount exceeds said third amount;
(3) notify said AVRS of said third amount;
(4) notify said AVRS that a transfer of said fourth amount is approved if
(a) said payee account is identified with said first PIN and said payer account is identified with said second PIN;
and
(b) said fourth amount does not exceed said third amount;
and
(5) if said transfer is approved, debit said payer account and credit said payee account for said fourth amount;
(6) receive information from an ATM, said information comprising
(a) said magnetically-encoded identifying number;
(b) said first PIN;
and
(c) a fifth amount of money, where said fifth amount is the amount that said payee wishes to withdraw from said payee account;
(7) determine whether said fifth amount exceeds said second amount;
(8) authorize a bank to pay out said fifth amount from said ATM when said fifth amount does not exceed said second amount;
and
(9) debit said payee account by said fifth amount;
(D) providing an AVRS that can, when called by a payer,
(1) receive from said payer information that comprises said first and second PINs and said fourth amount and transmit said information to said central processor;
and
(2) inform said payer whether the transfer of said fourth amount is approved;
(E) providing a bank that can, when authorized to do so by said central processor, direct at least one ATM to pay out said fifth amount;
and
(E) providing at least one ATM that can pay out said fifth amount when
(1) said payee card is inserted into said ATM;
(2) said first PIN is entered into said ATM;
and
(3) said ATM is directed to pay out said fifth amount by said bank.

40 more elements

Dependencies are inferred from the claim text.

System for automatically transferring funds

Life of this patent

Abstract

Claims20

System for automatically transferring funds

Life of this patent

Abstract

Claims20