Back to results
US 7,581,674 B2Granted
Financial transaction system and method
OwnerCharles Cohen, Jean-Pierre Murrayinventors
Life of this patent
Estimating the term…
Abstract
A financial system and method for a stored value e-card financial management system using a worldwide financial network to deposit funds into an e-card account in one country and withdraw funds from a networked automated teller machine in another country. A dual-card package containing two e-cards and a personal identification number is purchased at a point-of-sale location, and then activated by depositing funds into the e-card system. A first load-card is used for activating and reloading the e-card system, and a second debit-card provides withdrawal capabilities when the account balance is sufficient to fund the request and any associated fees.
Claims25
A stored value e-card system, comprising:
- an e-card financial management network having automated teller machine systems networked in multiple countries;
- a dual-card package purchasable at a point of sale location, the package including a first transaction card and a second transaction card, the transaction cards having a personal identification number;
- wherein the financial management network is configured such that, upon an initial fund deposit being made to an agent of the financial management network by a user of the first card, the stored value e-card system can be activated at the point of sale location;
- wherein the financial management network is configured to allow, upon activation, cash withdrawal through the automated teller machine systems;
- and wherein:
- the stored value e-card system is reloadable by the first card user after the initial fund deposit has been made;
- and
- the financial management network is configured so that cash withdrawal can be made only in a country other than the country in which the e-card system was activated.
5 more elements
A dual-card stored value system, comprising:
- an e-card management network having an automated teller machine system networked in multiple countries;
- a dual-card package purchasable at a point of sale location, the dual-card package including a first transaction card and a second transaction card, the transaction cards having a personal identification number;
- means for activating the stored value system with the first transaction card in a first country;
- and
- means, using the second transaction card, to withdraw cash from the networked automated teller machine system in a second country different from the first country;
- wherein the management network is configured not to permit withdrawals upon presentation of the first card, but only upon presentation of the second card.
3 more elements
A method for activating a dual-card e-card system for cash withdrawal in a foreign country, comprising:
- providing an e-card financial management system having networked automated teller machine systems in at least two different countries;
- purchasing at a point of sale location in a first country a dual-card e-card package having a first transaction card and a second transaction card, the transaction cards having a personal identification number and being operable within the networked automated teller machine system;
- activating the e-card system at the point of sale location by depositing cash to an agent for the financial management system for adding stored value to the e-card system;
- forwarding the second transaction e-card to a second card user;
- communicating the personal identification number to the second card user to thereby enable the second card user to use the second transaction card to withdraw cash at a networked automated teller machine located in a second country different from the first country;
- and
- configuring the management network so as not to permit withdrawals upon presentation of the first card, but only upon presentation of the second card.
4 more elements
A method for activating a dual-card e-card management system having networked automated teller machines systems in at least two countries for cash withdrawals, comprising:
- in a first country, purchasing a dual-card e-card package having a first transaction card and a second transaction card, the transaction cards having a personal identification number and being operable within the networked automated teller machine system;
- prior to providing the personal identification number to the first card user, loading value to the dual e-card at the point of sale by depositing cash to an agent of the e-card management system;
- provisionally activating the e-card system;
- verifying the identity of the first card user from information provided by the first card user;
- consulting a list of known or suspected terrorists or terrorist organizations to determine whether the first card user is on the list;
- approving the identity of the first card user;
- permanently activating the dual card system,
- providing the personal identification number to the first card user;
- maintaining records of the information provided by the first card user;
- forwarding the second transaction e-card to a second card user;
- communicating the personal identification number to the second card user to thereby enable the second card user to use the second transaction card to withdraw cash at a networked automated teller machine in a second country different from the first country;
- and
- configuring the management network so as not to permit withdrawals upon presentation of the first card, but only upon presentation of the second card.
10 more elements
A dual-card stored value system, comprising:
- an e-card management network, the e-card network having automated teller machine systems networked in multiple countries;
- a dual-card package purchasable at a point of sale location, the dual-card package including a first transaction card and a second transaction card, the transaction cards having a personal identification number and being operable in the e-card management network;
- means for provisionally activating the e-card system with the first transaction e-card in a first country;
- means for approving the identity of a first transaction e-card user for permanently activating the e-card system;
- and
- means for withdrawing cash using the second transaction e-card from the networked automated teller machine system in a second country;
- wherein the management network is configured not to permit withdrawals upon presentation of the first card, but only upon presentation of the second card.
4 more elements
A stored value e-card system, comprising:
- a dual-card package purchasable at a point of sale location, the package including a first transaction card and a second transaction card, the transaction cards having a personal identification number;
- wherein when an initial fund deposit is made to an agent of a financial management network by a user of the first card, a stored value e-card system is activated at the point of sale location;
- and cash withdrawal through automated teller machine systems is made with the second transaction card;
- and wherein the stored value e-card system is reloadable by a user of the first card, after the initial fund deposit has been made;
- and the financial management network is configured not to permit withdrawals upon presentation of the first card, but only upon presentation of the second card.
2 more elements
Dependencies are inferred from the claim text.