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AssigneeCitibank, N.A.
InventorsHorton Jennings, Nigel Pinnell, Khanh Do, Virendrakumar Shah, Marjorie Profumo, John Downing, Neil Goodhand, Marion Maino, Michael H. Thompson
Estimating the term…
A system and method for allowing funds to be transferred instantly to an account so that the funds are available to the beneficiary at the time they are sent, based on customer information which can be automatically accessed by the system, rather than needing to be manually entered. Further, the system automatically computes the appropriate exchange rate and any fees to be charged to the account and displays them to the user so that the user may authorize or cancel the transaction. The system also analyzes the parameters of the transfer to assure that the transfer conforms with pertinent government regulations. The system also enables the user to quantify the amount to be transferred in the currency of the originating account or the currency of the receiving account, thereby maximizing the flexibility of the system. The system further is designed so that it can be understood and accessed by individuals having no special expertise in computers, wire transfers and the like. Further, the system is provided with various safeguards to assure that only authorized individuals have access to the accounts and the funds and immediately verifies successful completion or failure to the customer.
A process for transferring funds through a communications network, comprising the steps of:
In a system for performing money transfers comprising an input terminal having input means and display means, a first host system which is in communication with said input terminal and which services a source account, and a second host system coupled to said first host system with a communications network, said second host system servicing a destination account, wherein:
Dependencies are inferred from the claim text.