Money transfers for tax refunds

In a relationship between a financial institution, a money transfer service, and a taxpayer, a method of providing a tax refund to the taxpayer in relation to a tax return, the method comprising:

• creating a first account identifier comprising:
• a) a first money transfer service identifier comprising a set of one or more characters that identifies an account at the financial institution as corresponding to the money transfer service;
• and
• b) a taxpayer identifier comprising a second set of characters that is derived from either a federal taxpayer identification number for the taxpayer or a telephone number corresponding to the taxpayer;
• c) a birthdate identifier comprising a third set of characters corresponding to the birthdate of the taxpayer;
• providing a routing number for the financial institution, along with the first account identifier, to a governmental entity, as a direct deposit target for a first portion of the tax refund corresponding to the tax return;
• receiving, at a first host computer operated by the financial institution, a direct deposit transaction, the direct deposit having associated therewith a name of the taxpayer and being directed to a first account identified by the first account identifier;
• performing a host-to-host transaction between the first host computer and a second host computer operated by the money service provider, wherein the host-to-host transaction transfers an amount of money corresponding to at least a portion of a first direct deposit transaction, and wherein the host-to-host transaction has associated therewith a set of data, the set of data comprising the name of the tax payer and the taxpayer identifier;
• at the second host computer, identifying the host-to-host transaction as a money transfer transaction having the taxpayer as a recipient;
• receiving a request from the taxpayer to obtain funds from the money transfer transaction;
• verifying, based at least in part on the taxpayer identifier, an identity of the taxpayer;
• and
• providing, to the taxpayer, an amount of money corresponding to at least a portion of the amount of the host-to-host transaction.

In a relationship between a financial institution, a money transfer service, and a taxpayer, a method of providing a tax refund to the taxpayer in relation to a tax return, the method comprising:

• receiving, at a first host computer operated by the financial institution, a direct deposit transaction in a first amount from a governmental entity, the direct deposit transaction corresponding to a refund related to a tax return filed on behalf of the taxpayer, wherein the direct deposit transaction has associated therewith an account identifier, the account identifier comprising a first portion having sufficient information to identify the direct deposit as being related to the money transfer service and a second portion having sufficient information to enable the money transfer service to identify the taxpayer;
• identifying the direct deposit transaction as being related to the money transfer service, based at least in part on the first portion of the account identifier;
• and
• performing a money transfer transaction, from the first host computer to a second host computer operated by the money transfer service, wherein the money transfer transaction has a second amount and has a recipient identifier associated with the money transfer transaction, the recipient identifier being derived at least in part from the second portion of the account identifier and comprising sufficient information to enable the money transfer service to identify the taxpayer as a recipient of the money transfer, and wherein the money transfer transaction results in the transfer of funds from an account at the first host computer to an account at the second host computer.

In a relationship between a financial institution, a money transfer service, and a taxpayer, a computer system for of providing a tax refund to the taxpayer in relation to a tax return, the system comprising:

• one or more processors;
• and
• a computer readable medium, in communication with the one or more processors, the computer readable medium having embodied thereon a set of instructions executable by the one or more processors, the set of instructions comprising:
• instructions to receive, at the computer system, a direct deposit transaction in a first amount from a governmental entity, the direct deposit transaction corresponding to refund related to a tax return filed on behalf of the taxpayer, wherein the direct deposit transaction has associated therewith an account identifier, the account identifier comprising a sufficient information to enable the money transfer service to identify the taxpayer, wherein the sufficient information comprises a birthdate;
• and
• instructions to perform a host-to-host transaction, from the computer system to a host computer operated by the money transfer service, wherein the host-to-host transaction has a second amount and has a recipient identifier associated with the host-to-host transaction, the recipient identifier being derived from the portion of the account identifier and comprising sufficient information to enable the financial service provider to identify the taxpayer as a recipient of the money transfer and to verify an identity of the taxpayer, and wherein the host-to-host transaction results in the transfer of funds from an account at the first host computer to an account at the second host computer.