US 8,571,975 B1 · System and method for sending money via E-mail over the internet

Abstract

A method and system for transferring money from a sender to a receiver utilizing a computer network such as the Internet. The sender visits a web site and identifies, to-the server over the Internet, the receiver, an e-mail address of the receiver, an amount of money to be transferred and a withdraw account from which money is to be transferred. The withdraw account can be a checking account, a checking account secured by a credit card account, or a credit card account. Money is transferred from the withdraw account and preferably deposited into a holding account. The server automatically sends an e-mail to the receiver, over the Internet, to inform the receiver that the sender has transferred money and to request the receiver to visit the web site of the server to receive money. The receiver visits the web site of the server in response to the e-mail and identifies a deposit account to which money is to transferred.

Claims29

Dependent claims

A method of transferring money from a sender to a receiver utilizing a computer network including a server, the method comprising the steps of:

(a) the server receiving a sender identifier and a deposit account identifier from the receiver, the sender identifier associated with a sender from whom money is to be transferred to the receiver and the deposit account identifier associated with a deposit account to which money is to be transferred;
(b) the server sending an electronic message to the sender over the network to inform the sender that the sender should transfer money to the receiver and to request the sender to contact the server to transfer money, the sender not being in contact with the server at the time of the server sending the electronic message to the sender;
(c) the server receiving a response to the electronic message and identifying a withdraw account from which money is to be transferred;
(d) transferring money from the withdraw account;
and
(e) transferring money to the deposit account.

3 more elements

A method for transferring money from a sender to a receiver utilizing a computer network including a server, the server in the form of a tangibly embodied computer processor, the method comprising the steps of:

receiving over the computer network from a tangibly embodied receiver computer processor of the receiver:
a sender identifier identifying the owner of a withdraw account;
and
a deposit account identifier identifying a deposit account to which money is to be transferred;
sending, by the server, an electronic message to the sender over the computer network using the sender identifier, the electronic message containing information that constitutes a request for the sender to contact the server to transfer money to the receiver, the sender not being in contact with the server at the time of the server sending the electronic message to the sender;
receiving, by the server, over the computer network a withdraw account identifier from the sender, the withdraw account identifier identifying the withdraw account from which money is to be transferred;
initiating a transfer of money, by the server, from the withdraw account to the deposit account using the deposit account identifier, the initiating the transfer being in response to the server receiving the withdraw account identifier from the sender;
and
the server performing a settlement process in which the server performs a search for the initiated transfer of money against a listing of funded and rejected transactions of daily transaction reports;
and
performing the transfer of money to the deposit account of the receiver, upon the server matching the transfer of money against a listed funded transaction of the daily transaction reports.

8 more elements

Dependencies are inferred from the claim text.

System and method for sending money via E-mail over the internet

Life of this patent

System and method for sending money via E-mail over the internet

Life of this patent

Abstract

Claims29