HK1082973A - Money transfer systems and methods - Google Patents

Description

Funds transfer system and method

Cross reference to related applications

This application is part of 10/040,568 filed 1, 4, 2002 and a continuation of the claims thereto, the 10/040,568 application being a continuation of the united states patent applications entitled 09/427,249 filed 10, 26, 1999, 09/975,171 filed 10, 2001 entitled "method for performing a fund transaction and system therefor" and 10/037,827 filed 1, 3, 2002 entitled "method for receiving electronically transferred funds using an automated teller machine," the disclosures of which are incorporated herein by reference in their entireties.

Background

The present invention relates generally to computer-implemented transfer systems, including systems for importing information from, and receiving information from, a computer-implemented transfer system, and methods therefor. More particularly, the present invention relates to transferring value and/or information related to the value through a computer-implemented transfer system.

There are various mechanisms for transferring information over a computer network. For example, emails may be sent from one person to another over a computer network, or funds may be transferred from one account to another over a computer network. However, these existing transfer mechanisms all require that the sender and receiver involved in the transfer have access to a common transfer medium. Thus, for example, to communicate information via an email system, both the sender and the recipient must be able to access an email account. Likewise, to transfer funds from one account to another, both the sender and the recipient must have an account that is accessible. In many instances, the recipient and sender cannot access the common system at the same time, and therefore can only select other methods to transfer information, such as the U.S. postal system.

Furthermore, even if the recipient and sender have access to a common transfer medium, the use of this medium is often inconvenient, resulting in the sender using alternative methods to transfer information and/or value. For example, a business and its supplier may both have bank accounts available for funds transfer, however, the business typically issues a check and pays the supplier via the U.S. postal service.

Thus, there is a need in the art to increase accessibility to provide increased paths to computer-implemented migration systems and to reduce the inconvenience of such migration systems. The present invention overcomes these and other deficiencies in the prior art.

Disclosure of Invention

The present invention provides a diverse funds-transfer system, components of the funds-transfer system and a method of electronically transferring funds. Broadly speaking, the present invention allows funds to be received in various forms and then electronically transferred to other available locations. A wide variety of systems and techniques may be used to access the funds-transfer system to provide funds to the funds-transfer system for transfer and to pay a recipient of the transferred funds.

For example, the funds-transfer system may provide payment by walking to a funds-transfer or provider site, may contact an Interactive Voice Recording (IVR) or customer service representative using a telephone, or may use various communicable devices including a personal computer, a mobile phone with a browser, a Personal Digital Assistant (PDA), or the like, via the Internet. More conveniently, payment may be effected in the form of cash, credit cards, debit cards, stored value cards including smart cards, transferred from bank accounts using an automated exchange (ACH), or cash cards available at a vendor terminal or point of sale device (pointof sale device) to accept cash, and so forth. The recipient may be credited with cash, a check, a credit to a bank account, or a credit to a stored value card, etc. More diverse payment techniques may also be used, such as in person at a funds transfer site (e.g., an entity working on behalf of a financial institution to transfer funds), transfer to a bank account via ACH, or transfer to a bank account via Federal wire, use of Automated Teller Machines (ATM), financial kiosks (kiosk), stored value cards, automated check printers, and so forth.

A special method involving the use of stored value accounts may be applied, for example, to credit a stored value account using a variety of payment techniques for internet payments. The method includes a method of receiving funds from a potential purchaser at a funds-transfer site. The funds are then stored as an electronic record in the purchaser's stored value account. The funds may then be transferred at the request of the purchaser. Based on this request, funds may be electronically transmitted to the recipient and the corresponding funds debited to the stored-value account.

For example, the funds-transfer site may include a device that may communicate with a host so that a stored-value account may be stored on the host. The purchaser then makes a request to transfer funds over the internet using any type of computer that can communicate with the server. Thus, a purchaser who does not wish to provide financial information over the Internet may establish a stored value account using conventional techniques, such as paying in cash at a funds-transfer site. These funds can then be used over the internet without revealing financial information.

By allowing funds to be received at the funds-transfer site, various payment types may be used. For example, payment may be made in the form of cash, check, credit card, debit card, and the like.

The present invention provides another method of transferring funds from a sender to a recipient while allowing the recipient to receive the funds in various forms of payment at different times. According to the method, funds from a sender (e.g., at a funds-transfer site) are received along with information of a recipient receiving the funds. An electronic record of the funds and the intended recipient is created and the recipient may be provided with various payment options to receive the funds. The recipient then requests payment using one or more payment options, and payment is made according to the requested payment options. An electronic record of the payment is also created.

Examples of payment options include withdrawing cash at a provider site, handing over cash to a recipient, handing over money to a recipient, crediting a recipient account, debiting or storing a value card, and so forth. Still further, the request to receive payment may be accomplished in a variety of ways, such as by telephone, by a computer over a network, by letter, by in person visit, by voice response unit request, by personal digital assistant request, and so forth.

In one aspect, the card comprises a closed loop debit card. The debit card may be used at any location where such a card is accepted. For example, the debit card may comprise an anonymous debit card, such as a card associated with MasterCard (MasterCard), VISA (VISA), Discover, etc., that is to be initialized when a payment request is made by the recipient. As another example, the debit card may comprise a stored value card incorporating a record of the value paid upon request by the recipient. As another still further example, the debit card may comprise a phone card or an Internet cash card. The phone time or other value may be loaded into the cards as payment to the recipient.

When a card is issued at the time of payment, the debit card may be initialized using a point of sale device to associate the debit card account with an electronic record of the funds. Alternatively, a receipt may be printed with the point-of-sale device, the receipt having account information associated with the electronic record of the funds. In some cases, a receipt may be used in place of a debit card. For example, the receipt may contain an identifier that may be used when making an internet purchase. As another example, the receipt may contain a bar code with account information and located on a debit card.

The transferred funds may be deposited into various accounts. For example, the funds may be transferred to the recipient's bank account based on displaying an account number from the recipient's check or a Magnetic Ink Character Recognition (MICR) number. As another example, the funds may be deposited into an online funds account, such as an online funds transfer account, an online banking account, an online investment account, an online auction account, and so forth. As a further example, the funds may be transferred to the recipient's bank account by providing a debit card and performing a return or refund transaction using a point of sale device. As yet another example, the recipient may receive the send key and confirmation code from the transmitter. This information may be entered into an appropriate Automatic Teller Machine (ATM) or financial kiosk (kiosk) device to receive the transferred funds.

When a point-of-use sales device pays for an account using an account number, various devices can be used. For example, account information may be obtained by a MICR reader that reads the MICR line from the recipient's check, a magnetic stripe reader that reads the magnetic stripe from the recipient's card, a keypad that allows manual entry of account information, an Optical Character Recognition (OCR) scanner or imager that reads the account from the recipient's statement, a biometric device that identifies a pre-registered recipient bound to the account, and the like.

In one aspect, the recipient may be provided a bill of fees associated with each type of payment option. This approach also allows the transaction fee to be split between the sender and the recipient. For example, the sender may pay all or a portion of the transaction fee, and the recipient may incur all or a portion of the transaction fee, both of which may be apportioned in any proportion. Further, payment of the transaction fee may be determined by the sender, the recipient alone, or by a two-party agreement.

The recipient may also be provided the option of receiving portions of the funds at different times. In this way, the recipient does not have to withdraw all funds at a single time. If the recipient requests that funds be paid in multiple portions, an electronic record is generated for each partial payment. Furthermore, the transaction fee is deducted for each partial payment.

More conveniently, a message may be sent to the recipient along with the payment options. This information may be e-mail, letter, telephone, fax, telegram, etc.

As a detailed example of this embodiment, the present invention provides a system and method for transferring funds to recipients traveling in one or more countries. The recipient may withdraw a portion of the money in the local currency. The funds are input into the system using a remote computer, such as a computer located at a funds-transfer site. In connection with these payments, other information may also be entered, such as identification information of the recipient, one or more countries to receive the funds, the payment amount, and so forth. This information may be communicated to the host system. When ready to receive payment in one of the designated countries, the recipient enters a withdrawal point having a remote computer capable of communicating with the host system. Information such as the recipient's identification and payment amount is entered into the remote computer and sent to the host system. If received, the recipient may be paid the amount in the local currency. The host system may calculate the corresponding fee and subtract it from the remaining principal. Further, the host system may maintain a record of the transaction, including the exchange rate used in the exchange to the local currency.

In a further embodiment, the present invention provides a method of transferring funds from a sender to a recipient by receiving the funds from the sender and information relating to the recipient receiving the funds. The sender also indicates that the funds are to be stored in the stored-value card. An electronic record of the funds and the intended recipient is created. When ready to receive the funds, the recipient makes a request and generates a stored-value card having the value of the funds. An electronic record of the payment is also stored electronically.

The present invention further provides an exemplary system and method for facilitating value transfer. According to the method, a host system is used to receive a request from a sender to transfer value. This request may be sent from a remote computer or point of sale device. The host system is used to in turn send a computer readable file to the remote computer requesting information about the requested transfer. Alternatively, the remote computer may be configured to prompt the sender for the information without accessing the host system. The requested information is received back at the host system to sequentially determine one or more options for transferring the value based on the received information regarding the transfer. The host system may then send a computer-readable file containing at least one option to the remote computer. In this way, the recipient can provide information about the transfer request and receive back a recommended method for transferring value.

As a specific example, a process may be used for bill payment services. For example, customers may require payment and provide information about their accounts and means of payment. This payment means may be evaluated during a pre-authorization step to ensure that funds are available. Further, based on the provided payment instrument, a list of possible payment options may be displayed on the remote computer. For example, the customer may have the option to pay by real-time secured funds, such as cash, credit card payments, debit card payments, passless debit card payments, automated exchange (ACH) payments, check payments, and the like. Further, the costs associated with each option may be displayed for the customer.

To provide the recommended transfer technique, the host system may require a series of information about the transfer. For example, such required information may include private information about the value recipient, value receiving interfaces available to the value recipient, withdrawal points available to the value recipient, and so forth. The host system may select the recommended transfer option from a variety of options. These options include, for example, transfer to a money handling point, transfer to a financial kiosk, transfer to a cash dispenser, transfer to a financial account, transfer through a negotiable instrument, transfer to a stored value card, and so forth. In some cases, the host system may send a computer-readable file containing a list of all options for transferring value. In this case, the sender may simply select one of these options.

A further embodiment of the present invention provides a system for value transfer that places certain restrictions in the transfer and a method thereof. According to the method, a host system is used to receive a request to transfer value to a plurality of recipients and one or more restrictions on how the value is received by the recipients. The host system may also receive a request to provide value to one or more of the recipients. The host system may then be used to determine a method of migration based on the restrictions.

Thus, based on these limitations, a transfer may be implemented. This may occur, for example, by sending a computer readable file from the host system giving instructions on how to pay for value in accordance with the limit. Likewise, the host system may receive and store information about how to provide value to the recipient to generate a record of the payment method.

The sender may use various restrictions. For example, these limits may require that a portion of the value be provided to each recipient or may require that a time limit be set when the value is received. As another example, this limitation may be a specification of the form of value or a specification of which recipients must be present when receiving value.

In one embodiment, the present invention is suitable for situations where an individual, small business or similar entity receives multiple payments or transfers of funds periodically or in an efficient manner over a short period of time. To facilitate this need, in one embodiment, a method for paying for goods or services using a network is provided. According to the method, account information about the payee is input to the funds-transfer system. Further, at least one limit is set to the transfer from the payor(s) to the account, and the limit is stored at the funds-transfer system. A cash payment may then be received at the funds-transfer point, the cash from the at least one payer for payment of the goods or services provided by the payee. A record may also be sent over the network to the funds-transfer system to indicate that the cash payment has been completed. Funds may then be transferred to the payee's account over the network based on cash payments using the funds-transfer system. In this way, the payee may establish a particular, limited relationship with the funds-transfer system to allow the payer to make payments based on the limits set in the system.

For example, the limit may be some limit such as the number of allowed transfers to the payee account, the period of time the transfer is made to the payee account, the amount of money transferred to the payee account each time, and the like. More conveniently, the funds may be transferred using an ACH transfer, a check transfer, or the like. Further, a record of the payment from the funds-transfer system to the payee may be sent to the payee so that the good or service may be provided. For example, upon receiving a payment record, the item may be shipped from the payee to the payer. Alternatively, a transaction fee may be charged along with the payment.

These and other embodiments of the invention will be described in detail below with reference to the following text and attached drawings.

Drawings

A more complete understanding of the present invention may be derived by referring to the detailed description and claims when considered in conjunction with the following figures, wherein like reference numbers refer to the same, similar, or corresponding features and functions throughout the figures.

FIG. 1A shows one embodiment of a transfer network including an input-output mechanism in accordance with the present invention;

FIG. 1B shows an interface system of the network of FIG. 1A;

FIG. 1C shows an input mechanism for the network of FIG. 1A;

FIG. 1D shows an Automated Teller Machine (ATM) network included in the network of FIG. 1A;

FIG. 2 shows another embodiment of a transition network according to the invention;

FIG. 3 is a flow chart showing a method of transferring funds using a stored value account according to the present invention;

FIG. 4 is a flow chart showing a method of transferring funds using various payment types and times in accordance with the present invention;

FIG. 5 is a flow chart illustrating a method of preparing a funds-transfer transaction according to the present invention;

FIG. 6 is a flow chart showing a recommended method of obtaining information about a transfer and providing for the transfer to be made

FIG. 7 is a flow chart showing a recommended method of obtaining information about how the value being transferred is used and providing for the transfer

FIG. 8 is a flow chart illustrating a method of placing one or more restrictions for value transfer;

fig. 9 is a flow chart illustrating a method of paying for goods or services using a network in accordance with the present invention.

Detailed Description

The present invention provides various devices and techniques for transferring funds. The present invention allows funds to be received in some manner and transferred electronically to another location where they can be withdrawn or further processed. To conduct a funds-transfer transaction, an interface to the funds-transfer system is required. Thus, various interfaces may be used to access the funds-transfer system. For example, the funds-transfer system may be accessed by walking into a funds-transfer or provider site and providing payment, contacting an Interactive Voice Recording (IVR) or a customer service representative using a telephone, or using various communicable devices including a personal computer, a mobile phone with a browser, a Personal Digital Assistant (PDA), or the like, via the Internet. These interfaces may be accessible by both the sender and the recipient.

The present invention further allows a variety of payment instruments to be used to fulfill a payment. For example, an automated exchange (ACH) may be used to transfer from a bank account in the form of cash, credit cards, debit cards, stored value cards including smart cards, or to pay using cash cards and other similar means. Similarly, once funds are transferred, various payment techniques may be used. For example, the recipient may be paid in cash, a check, a credit to a bank account, or a credit to a stored value card, and other similar ways. Still further, various payment techniques may be used to provide funds to the recipient. These include allowing the recipient to receive funds, either in person at a funds transfer site, transfer to a bank account via ACH, or transfer to a bank account via federal wire (Fedwire), using ATMs, financial kiosks (kiosk), stored value cards, automated check printers, and the like. Alternatively, the funds may be divided into portions and received in different currencies. For example, a traveler may transfer funds to himself before leaving for travel and specify the country in which he will receive the funds along with identifying information.

Various combinations of the above-described methods may be implemented in accordance with the present invention. For example, any method of access may be used with any method of providing payment or receiving payment. Further, any of the above methods may be used with any payment device. In addition, a recipient may access the system to request funds from one or more senders.

Referring to FIG. 1A, one embodiment of a transfer system 100 according to the present invention is depicted. Transfer system 100 includes interface system 125, an automated teller system (ATM)145, a deposit maintenance network 160, a credit maintenance network 160, and a central switch 170. The interface system 125 is interactively connected to the ATM system 145 through an ATM network 140, a deposit maintenance network 150, and a credit maintenance network 160. In general, the interface system 125 supports various mechanisms for introducing and receiving information from the transfer system 100, thereby unifying the various transfer systems.

The interface system 125, described in further detail below in conjunction with fig. 1B and 1C, basically includes an interface switch 130, a provider terminal 110 and a user terminal 112, which communicate via an interface network 120. The interface network 120 provides information based on communications between the provider terminal 110 and the user terminal 112 and the interface switch 130. In another alternative embodiment, the interface network 120 provides communication between the provider terminal 110 or the user terminal 112 and the interface switch 130, but does not provide communication between the provider terminal 110 and the user terminal 112. In some embodiments, interface network 120 comprises a TCP/IP compliant Virtual Private Network (VPN). However, it should be appreciated that other communication networks may be used to provide similar functionality. For example, interface network 120 may be the internet, a Local Area Network (LAN), a Wide Area Network (WAN), a telephone network, a mobile telephone network, a Virtual Private Network (VPN), a fiber optic network, a wireless network, or any similar communication network.

Referring to FIG. 1B, the interface system 125 will be described in detail below. The interface system 125 provides a path to the transfer system 100 and allows for the receipt of payments using various payment means. For example, the funds to be transferred may be provided in cash, checks, stored value cards, credit cards, debit cards, cash cards, transfer from a bank account through an automated exchange (ACH), and other similar methods. To accommodate these payment means and types, various input devices 126, such as terminals or interfaces, may be used. For example, a local provider terminal 110a may be used to accept cash, credit cards, checks, debit cards, stored value cards, and smart cards. These terminals may also be used to print a check or money order at the payout end, or to deposit cash or stored value cards. Examples of such terminals are described in the related U.S. application No. 09/634,901 entitled "website for retail payment system" filed on Randy j. templeton, 8/month and 9, 2000 and the united states granted patent No. 60/147,899 entitled "comprehensive website for sales of equipment", filed on Randy j. templeton, 8/month and 9, 1999, the complete disclosures of which are incorporated herein by reference.

A financial kiosk terminal 110b may also be used and will be described with reference to fig. 1C. In doing so, it may be found that terminal 110b may be used to effect payment to a recipient and receive funds from a sender. The terminal 110b includes a controller 200 for communicating with various devices such as a computer 202, a PDA port 204, a telephone 206, a card reader 208, a card writer 210, a card issuer 212, an information issuer 214, a cash provider 216, and a check printer 218. Terminal 110b may include some or all of these devices. Computer 202 may include standard computer components known in the art, such as a display, one or more input devices such as a keyboard, a pointing device, a touch screen, a speaker for voice recognition, and other similar devices. In this manner, various information regarding the transfer of funds may be entered into the transfer system. The computer 202 may communicate with the interface system 120 using a variety of communication techniques, including through an internet interface 113a, a dedicated telephone line, etc. More conveniently, computer 202 may include a web browser to generate web pages as is known in the art. Thus, a user may enter a payment type, such as a credit or debit card number, stored value account information, credit account (royal program account) information, etc., and recipient information using computer 202. This information may then be processed by the interface switch 130 to complete the transaction.

Personal Digital Assistant (PDA) port 204 allows a PDA device to be connected to terminal 110 b. Thus, a transfer may be made directly from the sender's PDA, which may be conveniently pre-programmed with various transaction-related information, such as account information, recipient information, etc. Thus, transactions may be conducted in a similar manner as used by computer 202, but using the sender's personal PDA device. If necessary, the controller 200 may communicate with the PDA interface 112b to enable communication with the interface network 120.

The phone 206 allows the transaction to be prepared in voice. For example, by using a telephone interface 112c, various aspects of the transfer transaction may be conducted over the telephone 206. For example, the phone 206 may be used to talk to a customer service representative to prepare a transaction. The sender may then receive a transaction number, which may be given to a supplier when the sender sends funds for transfer. The vendor may use this number to access the prepared information, thereby speeding up the transaction. Alternatively, such transactions may be accessed at computer 202 by inserting a number to allow access to the prepared transaction information. Payment information may then be obtained at the kiosk 200, such as by stuffing cash, a check, a credit, debit, or smart card, or the like, into an appropriate reader. Another way is to use a customer service provider and the transaction information may be entered using an IVR system that may record the information and submit it to the interface network 120.

The telephone interface 112c may also be used to allow a mobile phone user to access the transfer system. In this manner, mobile phone time or other stored value associated with the mobile phone may be transferred using the system 100. Further, the telephone interface 112c allows funds to be withdrawn from the transfer system. For example, a phone may be used to make a request to withdraw money from a bank account, credit card account, stored value account, or the like. This may be done by calling directly into the bank account or the credit card organization requesting a withdrawal at a particular location. The bank or credit card organization may then contact the interface switch 130 to bring the funds to the desired location, such as a local supplier terminal.

As another example, a mobile phone may access point-of-sale devices, financial kiosks, local provider terminals, etc. using a telephone interface of the devices. A request for funds may then be generated to the interface switch 130. An exchange of value or foreign currency may be performed through the interface switch 130 described herein, with an authorization being sent back to the location requesting payment of the funds. Thus, a person in a foreign country can easily obtain cash through a local supplier, vendor, etc., request payment by using a mobile phone, and then receive payment in local currency. Alternatively, a verification step may be required, for example by requiring entry of a Password (PIN) to ensure that the correct recipient is receiving the funds.

The card reader 208 may be used to input various information. For example, a sender may have a card with various pre-stored transaction information, such as the sender's name, identification number, payment instrument, etc. These may be used to fill out on a transaction screen at financial kiosk 110 b. Card reader 208 may also be used to read information from credit, debit, smart, and stored value cards. In this way, a sender can very simply provide the system with funds for transfer by inserting a card with the required account information into the card reader 208. Further, the card reader 208 may be used to read information from an Identification (ID) code or payment card of a recipient to receive the transferred value.

The card reader 210 allows information to be encoded and stored in a variety of cards. For example, information for each transaction may be stored in a client card of the sender. Card recorder 210 is also useful when the kiosk server is to pay funds or value to a recipient. For example, card logger 210 may be used to add value to a recipient's stored value or smart card.

In some cases, the card may be issued to a sender or a recipient using card issuer 212. For example, a customer card may be issued to a sender who is registered in the system. Card issuer 212 may also be used to issue cards when making payments to recipients. For example, card issuer 212 may issue stored value cards, smart cards, cash cards, and the like. These cards may be used at other financial kiosks or ATMs to withdraw transferred funds or value.

The information publisher 214 allows a message sent from a sender to be provided to a recipient. The information publisher 214 may be used to generate information on the computer 202 display screen or to print information assigned to a recipient.

The cash provider 216 may be used to dispense cash to a recipient. Thus, a recipient may receive cash from a financial kiosk payment that is sent from a sender using any of the techniques described herein. These payments may be made available once the recipient is properly identified, for example, by inserting a customer card into the card reader 208 and optionally entering a password. Cash withdrawals may also be obtained by inserting a card having stored values that are stored in interface switch 130. Thus, once a stored-value card is issued to a recipient, the recipient may carry the card to any financial kiosk for partial or full withdrawal. Further, when withdrawing money, the exchange may be performed. For example, a recipient may have a stored-value card with mobile phone times and may require that the times be redeemed for cash. Also foreign currency may be exchanged. Such transactions are facilitated through the interface switch 130 described herein.

A sender may also use his/her own communication device to access the funds-transfer system. For example, the transfer system 100 may be accessed through various computers having access to the Internet using an Internet interface 112 a. Information about the payment instrument or payment type may then be communicated through the internet and the transfer system. Such payment instruments or payment types include credit cards, debit cards, stored value cards, cash cards, ACH bank transfer information, and the like. As another example, a PDA interface 112b may be used to allow the PDA device to communicate with the transfer system 100. Similar payment instruments and payment types may also be present using the PDA interface 112 b. Another example is through a telephone interface 112 c. Thus, communication may be by telephone, by contact with a customer service representative, via an IVR system, or the like. Similar to other interfaces, various payment instruments and payment types may be contacted to the system through this interface, including credit cards, debit cards, stored value cards, cash cards, ACH bank transfer information, and the like.

After passing through the interface network 120, the information about the transfer is sent to the interface switch 130, which switch 130 has a network processor 132 to process the data. The data is then sent to a host 133. the host 133 may communicate with a value decoder 135, a database 136, a settlement engine 137, and a message engine 138 which may in turn communicate with a message decoder 139. The information received by the interface switch 130 may include information about the sender, information about the recipient, the type and amount of payment, the destination point for the transfer of funds, and the like. In some cases, a value translator 135 may be required to convert foreign currency, or may convert from one value to another, such as mileage to U.S. dollars. All of the processed information may be conveniently stored in the database 36.

Settlement engine 137 may be used to facilitate debiting and crediting various accounts during the transfer. For example, if a sender requires funds from a credit card account to be used for the transfer, the settlement engine 137 is used to contact the network to charge the card and manage the fees involved in the transaction. These fees may be those charged by the credit card organization, as well as internal fees as part of the funds-transfer transaction. Settlement engine 137 may be used in a similar manner when debiting or crediting a checking account, a stored value account, a customer credit (customerloyalty points), etc.

In some cases, the sender may also wish to send a message relating to funds. This message may be a simple greeting, a business or legal payment period, etc. Message engine 138 is used to convert the information into the appropriate format depending on the type of output device used to receive the funds. For example, the output device may be a printer that physically prints the message onto various media. Alternatively, the message may be displayed briefly on a display, such as at a financial kiosk, ATM machine, point of sale device, an email, a web page, or the like. The sender or recipient may also indicate that the message needs to be translated into a different language. In this case, the message decoder 139 may be used to translate the message into other languages. This can be done by simply one-to-one querying in other languages for each word. The ability to translate more complex languages may also be used.

Once the transfer request is properly processed, it is sent by a switch 134 to the appropriate network as shown. This may be sent to an ATM network 140, deposit maintenance network 150, and/or credit maintenance network 160 to complete the transaction. As described below, in some cases, all of the funds transactions may be completed without the assistance of these networks, such as when transferring funds between one stored value account and another. Alternatively, the transaction may use a central exchange 170, which central exchange 170 may include federal reserve systems, a bank's association such as NACHA, a mobile phone network, etc.

With such a configuration, there may be various payment options. For example, the sender may request that funds be withdrawn from a sender's bank account. In this case, interface switch 130 communicates with the deposit maintenance network to effect the withdrawal. This transaction may also include the central switch 170. Once the funds are withdrawn, they may be retrieved by the sender using various techniques. For example, payment of the funds may be made via delivery to a supplier's website, a financial kiosk, a point of sale device, an ATM, over the Internet using a stored value account, transfer to the recipient's account via federal wire or an ACH, via a stored value card or smart card, cash card, or the like.

As a particular example, a sender may request that funds be obtained at an ATM or bank. In this case, the funds may be deposited into a recipient's bank account using the deposit maintenance network 150. An example of this system for transferring funds to a recipient bank account is described in related U.S. patent application No. 09/516,209 filed on 29.2.2000, the entire disclosure of which is incorporated herein by reference. However, there are other systems that may be used. The central exchange may conveniently conduct transactions using the federal reserve system wire transfers to bank accounts, via ACH transfers, and the like. In this way, funds may be retrieved using an ATM, an access bank, or using any of the withdrawal techniques provided by the bank. For example, payment may be made in cash, printed checks, credit to a smart card or stored value card, and the like. These may be made available to the ATM or other payment device, such as a kiosk or other suitable equipment, for making such payment. As another example, the interface switch 130 may maintain a stored value account for the recipient. Next, funds may be withdrawn from ATM114 using any of the techniques described herein, and the account debited once ATM network 140 and settlement engine 137 communicate. Likewise, once a stored value account is established, funds may be withdrawn using various other techniques, such as depositing into an account of a recipient, crediting a credit card account of the recipient, and so forth.

If a credit card is involved in the transaction, it is possible to access the credit maintenance network 160, whether for transmission or reception. For example, if the sender uses a credit card, the interface switch 130 accesses the credit maintenance network 160 via the settlement engine 137 to approve funds, and sends a request to charge the credit card account. Once the funds are available, they may use various techniques, such as by delivering the funds to a supplier's website, at a financial kiosk, at a point-of-sale device, at an ATM, the Internet using a stored-value account, via a stored-value or smart card, cash card, etc. in a manner similar to that described herein.

Check printer 218 may be used to print a check to a recipient. In this way, payment may be made in the form of a check. Although not shown, an imager may be used to scan the check so that the funds to be transferred may be entered in the form of a check. The printer 218 may also be used to print receipts for a particular transaction.

As shown in fig. 1C, the financial kiosk controller 200 may be configured to communicate directly with the ATM network 140. Thus, the financial kiosk may function as an ATM in addition to performing funds transfer functions as described herein.

It will be appreciated that some or all of the components of the financial kiosk 110b may be incorporated with other devices used to access the system 100. For example, the components may be used at a supplier terminal, a point of sale device, an ATM machine, and the like. Further, the financial kiosk 110b may be configured to communicate with a local provider terminal 110a that communicates with the interface network 120 as shown in FIG. 1C.

The ATM system 145 is described in detail with reference to fig. 1D. The ATMs 114 and 116 each include a controller 114a and 116a that interfaces with cash providers 114b and 116b, ATM access modules 114c and 16c, card readers 114d and 116d, card writers 114e and 116e, card issuers 114f and 116f, and message issuers 114g and 116 g. The cash provider 114 is used to dispense cash to the recipient based on previous transfers. The access module 114c accesses the ATM using various components, such as a touch screen, a keypad, a voice recognition system, etc. In this way, various information regarding the transfer request or extraction may be input to the controller 114 a. The card writer 114c and the card reader 114e allow various information to be written to and read from various cards using methods similar to those described above with respect to the financial kiosk 110 b. The card issuer 114f allows a variety of cards to be issued in a manner similar to that described above with respect to the financial kiosk 110 b. Message publisher 114 allows various messages to be sent to the user in a manner similar to that described above with respect to financial kiosk 110 b.

The ATMs may communicate with each other via ATM network 140. The ATM system 145 includes a host 141, the host 141 being coupled to a database 142 to facilitate processing and storing of data transferred between the various ATMs. With this configuration, by connecting to the interface switch 130, a transfer of funds can be easily made between the ATMs. For example, information regarding the transfer may be entered into the ATM114 using the access module 114c and optionally the card reader 114 c. This request is sent from ATM network 140 to interface switch 130, which interface switch 130 processes the transaction in a manner similar to that described previously. The recipient may then simply access the ATM at any other ATM through the access module 114 to withdraw the funds. The transferred funds may then be dispensed from the cash provider 114 b.

The ATMs may also be used as a withdrawal device in connection with other transfer techniques described herein. For example, any input device 126 may be used to provide the funds to be transferred. A request may also be made to require funds to reach an ATM. The funds may then be retrieved from the ATM, as previously described by debiting an account stored at the interface switch 130 or by depositing funds into a recipient's bank account.

It should be appreciated that other embodiments of the transfer system 100 are possible. For example, another embodiment of a transfer system 101 is shown in FIG. 2. In this embodiment, the transfer system 101 includes a provider terminal 110, a user terminal 112, a financial kiosk terminal 110b, and ATMs 114, 116 that communicate via an interface network 120. The switching function of interface switch 130 is as previously described in fig. 1B. Each financial kiosk terminal 11b and ATM114,116 are capable of communicating through an ATM network 140 and a central switch 170. In this way, transfers involving central switch 170 as previously described may be accomplished without a direct interface between interface switch 130 and ATM network 140 or other networks. Preferably, this transfer may be accomplished by providing a dual communications function kiosk at the kiosk terminal 110b and/or the ATM terminals 114, 116.

A method of transferring funds using the above-described transfer system will now be described with reference to figure 3. This approach has particular utility in creating a stored value account for internet or other electronic payments without revealing any account information to the sender or recipient. A user provides funds to a provider of the funds-transfer system, as shown in step 200. The payment may be made in any form acceptable to the vendor who is to keep the information secret. Payment information may be entered into a local provider terminal (see fig. 1B). The payment is credited to a stored value account, as shown at step 210. This may occur in interface switch 130 (see fig. 1B). These funds are placed into the stored value account by the sender designating the user's stored value account, or the user may connect to the interface switch 130 and request that funds be placed into the user's stored value account. Next, the user may make a desired purchase, as shown in step 220. As an example, the purchase may be made over the Internet. The user may access his or her stored value account when payment is required, using, for example, the internet interface 112a (see fig. 1B). One convenient way to allow stored value accounts to be used for payment is to provide a link to a web page that manages the stored value account on a web page of a seller. Information regarding the transaction may then be provided for debiting the stored value account as shown in step 230 and crediting the vendor as shown in step 240. This transaction may be performed using the settlement engine 137 (see fig. 1B) of the interface switch 130. Using the foregoing techniques, various types of seller accounts may be credited, including a checking account, a credit card account, or a stored value card account.

One advantage of this approach is that all information about buyers and sellers can be kept secret. For example, the buyer may pay funds to the system that transferred the funds to the seller, who may not know any information about the buyer if the buyer chooses. In a similar situation, any data about the seller may also be kept private from the buyer.

In another case, the funds may be paid to the system upon request by the recipient. For example, funds may be paid for obtaining a stored-value card or for payment services, such as a prepaid telephone service. In this case, the user may be instantly entered into the amount of funds paid. For example, the information is to prepay for phone time, which may require $50 to pay. The information is provided to the system from the recipient. The sender may also be provided with the option to change the amount to be paid, as well as additional information.

Figure 4 shows a method by which the recipient may choose to transfer funds using different payment types and different times. The process begins at step 250 with the funds to be transferred being input into the funds-transfer system at step 250. More conveniently, the sender may choose to send a message with the funds. This information may be received in any sender or recipient desired language using the information decoder 139 (see fig. 1). In some cases, the information may be separate from the funds transfer. For example, the funds may be transferred electronically to a recipient's bank account, with a message sent to a printer or the recipient's computer informing of receipt of the transferred funds. This is useful, for example, when paying a bill in bulk. Payments may be made in batches and sent to the recipient's bank account, while a separate receipt is sent to the recipient giving a detailed list of each payment.

When ready to receive funds, the recipient accesses the funds-transfer system using any of the techniques described herein. The recipient is provided with various payment options, as shown in step 260. This may be, for example, payment in the form of cash, a check, money order, a stored value card, a deposit into a checking account, a credit card crediting a credit card account with funds, and so forth. Still further, the recipient may request that payment be made in any currency or other form of value using a value translator (see FIG. 1B). For example, if the recipient lives in mexico, he may request to withdraw money in pesos and may also request that the message be sent in spanish. The recipient selects the payment type as shown in step 270, and then the recipient is provided the option of receiving all or a few times to receive a partial payment as shown in step 280. If a full payment is selected, the process proceeds to step 310 where a full payment is made according to the requested payment type at step 310. Alternatively, as shown in step 320, some fee may be charged depending on the type of payment. If a partial payment is selected, the process proceeds to step 290 where the partial payment is made based on the requested payment type and debited to the stored value account in step 290. As shown in step 300, a deduction of some fee may be selected. At any time, the recipient may again access the funds-transfer system to receive the remaining transferred funds.

One particular use of partial payments in conjunction with currency conversion is to allow an international traveler to receive funds in one or more local currencies in one or more countries. For example, a U.S. resident may decide to travel to several countries during a business trip, and may need to obtain local currency in each country. In doing so, the traveler may not receive or convert too much local currency at once. To facilitate this need, the present invention allows travelers to send funds to themselves (or other travelers) before (or after) departure. These funds may be withdrawn in the currency of their destination. Such a process facilitates the transfer of travelers' funds for the purpose of increasing withdrawals in a limited or convenient local currency during their travel.

Conveniently, the customer may do this by performing a funds transfer transaction, and then, upon reaching the destination, receive all or only a portion of the initially transferred funds. The fee may be determined based on the amount of withdrawal and which currency is used may be determined at the time of withdrawal. In this way, the funds may be received in multiple currencies in multiple countries based on the same funds-transfer transaction. As such, the need to carry large amounts of cash or travelers checks may be greatly reduced or eliminated.

The cash withdrawal may conveniently be performed at a funds-transfer site, for example at a Western Union transfer (Western Union) site. This process allows a traveler to withdraw funds in local currency at a known transaction rate and at any one of the funds-transfer points.

This process may be performed using any of the funds-transfer systems described herein. For example, as shown in FIG. 1B, the funds-transfer request and the payment request may be entered using any of the input devices 126. As an example, the local provider terminal 110a may be used to receive payment information as well as information about the recipient and the intended country. This information may be sent to a host 133 for storage.

Other home agent terminals 110a in foreign countries may be accessed when preparing to make a withdrawal. Alternatively, any access device, including networks 140, 150, or 160 may be used. This request is received at the host 133, which host 133 uses the value translator 135 to determine the exchange rate and calculate some cost. This information is sent back to the terminal 110a for use in authorizing payment. The host 133 may also maintain a record of the transaction and the remaining principal, which is stored in the database 136. The host 133 may compare the identification code to the record to confirm the correct recipient, if necessary.

The fee structure assessed to the customer may be calculated in accordance with the method by which a minimum fee is paid to offset the cost when funds are placed into the system. The traveler may be required to pay a certain or predetermined amount at each withdrawal point depending on how much funds are received. For example, a cost of $1000 to withdraw may be $ 20. If the traveler decides to withdraw $100, the fee would be 100/1000x20, or $ 2. For each withdrawal, the amount paid plus the amount of the fee is deducted from the total principal available.

Thus, any of the interfaces described herein may be used in order to place funds into the system. As a particular example, a customer may place funds into the system by walking into a funds-transfer site and providing appropriate information regarding the transfer. This is conveniently accomplished by filling in a form and providing the form to a customer service representative at the transfer site, or by the customer inputting information into a computer. Such information may include customer identification information, sender identification information (if the sender is different from the customer), the country from which the funds are to be obtained, payment information, and so forth. The customer may also provide some type of identification code for use in drawing funds at the point of payment. This identification number may also be entered into the system. The input information is sent to a host system using any of the techniques described herein.

The host may be configured in any similar manner as described herein. The host system may store traveler funds transactions in a queue that is independent of other types of transactions, such as periodic funds transfer transactions. Further, the traveler's funds transaction may have a separate product code associated with them. In one aspect, the host system may store some fields in the transaction record, which may include fields such as [ Country ], [ identification number ], and so forth.

The host system may also be configured to allow transactions to be "split". This allows partial payments to be made in the total principal available. Additionally, the host system may be configured to deduct a portion of the payment plus the required fee from the total principal. Further, the host system may periodically receive an exchange rate for each of the intended countries. These exchange rates may be stored at the host system and may be used when payment requires a currency conversion. In some cases, this information may be communicated to the payment computer where currency conversion calculations are made.

Various communication devices may be used when paying funds to the system. For example, information regarding a transaction may be sent to the host system using point-of-sale devices, personal computers, financial kiosks, and the like, while the information is displayed. As described above, various types of information that can be input include receivable countries, an identification number, a payment amount, and the like.

A similar type of computer may be used for the recipient of the transaction. The payment computer may be programmed with a payment mode that allows the traveler to enter information required for withdrawal. For example, the cash machine may be configured to prompt the customer service representative to check the recipient's identification. The identification is then compared with the identification sent from the host computer to the payment computer. For greater security, the recipient may be required to enter their identification, which is then compared to the identification in the host record.

More conveniently, the host system may send the remaining principal amount available for withdrawal to the cash computer. Based on the selection of the payment amount, this information is sent back to the host for calculating some fees and performing currency conversion (although some of these tasks will be performed in the payment computer). The recipient may then be paid the corresponding amount by the customer service representative, who may input payment information to a payment computer. The remainder is then debited for the withdrawal amount and some fee. More conveniently, the information may also be displayed on a display screen, a receipt, etc. for the recipient. Alternatively, the payment computer may be used to generate a receipt containing the payment amount and the balance in the account.

Another feature is the ability to provide the traveler with information as to where the fund may be available in each specified country. This information is provided to the system on a receipt when entering 1 funds into them. For example, a telephone number (toll free phone) may be provided for each country of travel so that the traveler can have a communication link to guide them where their funds are available. Alternatively, the withdrawal point may be downloaded to a PDA or other spreadsheet device.

As a specific example, a traveler may first travel to a designated country to receive funds for entry into the system. Alternatively, the traveler may make a phone call to determine where the nearest withdrawal point is. The traveler then travels to one of the locations where the customer service representative may query the transaction based on identification information provided by the traveler, such as the traveler's name. The traveler may then be asked to provide their identification for confirmation to a customer service representative or host system. The traveler informs the representative how much he wishes to receive, which is then paid to the traveler.

As an alternative to requiring the recipient to provide identification, the recipient may also be provided with a Personal Identification Number (PIN) for entry at the time of withdrawal. This allows the traveller to withdraw funds even if their identification has been lost. As another option, the PIN can be used as identification in the event that the traveler's identification is lost or stolen to contact a customer service representative. As a further option, the customer may be provided with a telephone number, web page, or the like to confirm the withdrawal point prior to departure.

In some cases, the customer may wish to withdraw principal again. This may be, for example, by allowing the traveler to authorize debiting of their checking account. This information may be provided at the time of the initial transaction, or at a later time. When ready to transfer funds, the user may access a "PIN-based" VRU system that allows the customer to authorize transactions debited from their checking account to be placed into their account on the host system.

FIG. 5 illustrates a method of preparing funds-transfer transaction information to a transfer system prior to displaying payment at a physical location that may reduce transaction time or simply facilitate a transaction. For example, a customer may access the funds-transfer system through the Internet or a customer service representative. In some cases, the sender is not eligible for credit card payment or may only have difficulty completing the transaction. In this case, the process proceeds by contacting the transfer system, as shown in step 330. Next, as shown at step 340, the information needed to prepare the transaction is provided, and then, as shown at step 350, the information is stored in a database, such as in the interface switch 130 (see FIG. 1B). Alternatively, the sender may be given a transaction number or other identifier and then directed to a provider site as in step 370. The sender provides the information to the provider who enters the information into the system, for example by using the local provider terminal 110a (see fig. 1B). This causes the relevant records in the database to be accessed and sent to the vendor terminal for automatic on-screen field population. All the sender is then required to do is provide the proper payment to the provider. The funds may then be transferred, as shown in step 380, using any of the techniques described herein.

Still further, it is to be appreciated that the transfer system described herein can be used to perform various transfer methods. For example, to accelerate a money transfer transaction, a customer card may be provided to the sender with provisioning information stored in the card. Such information may include, for example, the sender's name, account number, contact information, and the like. This card may then be read using the provider terminal 110a (see FIG. 1B) to populate the fields displayed on the display. The sender may then provide payment and provide information of the recipient.

In some cases, the recipient may wish to withdraw the transferred funds from an ATM. However, in order to access existing ATMs, a user must present some type of card. Similarly, after a transaction is sent, the transfer system may send the recipient an ATM acceptable card by various types of mailing methods. A separate mail piece may optionally be sent to the recipient for providing a Personal Identification Number (PIN). This card may include ATM readable information to allow access to the ATM so that the funds may be withdrawn. Such a card may also function as a cash card or other type of stored value card, such that the funds may be withdrawn based on information provided in the card, rather than by accessing the funds-transfer system. Alternatively, the ATM may be configured to be accessed by these types of cards, such as driver's licenses, ATM credit cards, and the like. Once accessed, a home screen may be displayed that allows access to the interface switch 130 (see FIG. 1B) to complete the previously described funds transfer.

The transfer system may also find use in situations where the individual does not have a credit or debit card for internet shopping. In this case, the customer may go to a provider site to purchase a cash card (which may also be a physical or virtual card, such as an authentication code) using the local provider terminal 110a (see FIG. 1B). The cash card is used by the funds transfer system as an indicator to record the funds that the customer pays the system and may be transferred. Thus, after making an internet purchase, the customer can provide vendor information from the cash card. The seller then presents the information to the funds-transfer system, which examines the information and then transfers the funds to the seller using any of the various techniques described herein.

In some cases, the exchange fee may be used when the transfer is made using a credit card. To avoid such charges, a funds transfer may be made using a check, debit card, ACH transfer to a bank account, or the like. In this case, payment may be made at a provider site over the internet or using other techniques described herein. The funds-transfer system will then wait for the funds to pay before the funds are available. Once obtained, the recipient may receive the funds in cash from a funds transfer system, such as withdrawing the funds at a supplier site.

As another example, a deliverer of a good may use the transfer system to reduce or eliminate the amount of cash received and carried during daily deliveries. Currently, when delivering goods, the deliverer is provided payment at each point of delivery of the goods. The accumulated payments are then deposited at the end of the day. However, the deliverer may be at risk of being robbed or misplaced during routine activities. According to the present invention, the transfer system may use a point of sale device, such as a local supplier terminal (see FIG. 1B), which may credit a stored-value card carried by the presenter. In this method, the card is presented to the purchaser each time a delivery is used, and the purchaser uses the terminal to credit an account to update the card. The transfer system may also debit the purchaser's stored-value card or may require some other type of payment that may be entered into the terminal. When requested, such as at the end of the day, the courier may take the stored value card to his own terminal to update the credit to the transfer system. Of course, payment may be made using any of the techniques described herein, including crediting a bank or credit card account, paying in cash from an ATM, and the like. By using this card, the presenter does not need to carry a large amount of cash all day long.

The transfer system may also be used to facilitate commerce and transactions between commerce. For example, a merchant may use software of known technology to maintain a computer record of accounts they may pay. Periodic multiple payments may be made by simply loading account payment information into the funds-transfer system, for example, by using a connection to the local provider terminal 110a or through the internet interface 112a (see fig. 1B), along with a request for payment. These payments may be made using any of the techniques described herein, including in cash, credit cards, debit cards, stored value accounts, and the like. Using message engine 138 (see FIG. 1B), a message may be sent to each recipient giving the recipient information about the account. Each recipient may also be given the option of making payments for some of the payment types described. Conveniently, the merchant may have stored simple conditions of the recipient in the transfer system so that payment may be made automatically each time a request is made in accordance with these conditions.

Accordingly, the payment system of the present invention is configured to provide various techniques for displaying funds from a funds-transfer receiving transaction to a user. These include, for example, the use of closed loop debit cards on custom ATMs to withdraw cash or make a private purchase if within a predetermined network. For example, a debit card may be loaded with funds and purchased over the network of a particular retailer or retailer association. Still further, an anonymous debit card may be used, such as those provided by mastercard, visa, Discover, and the like. In this case, funds may be provided to the funds-transfer site for use in setting up an account. A card may then be initialized and provided to the recipient along with a Personal Identification Number (PIN) or other authentication code. Other cards that may be used to receive funds include stored value cards, prepaid phone cards, prepaid internet cash cards, and the like.

When funds are paid out of the card in association with a card, the recipient's card may be provided to any of the terminals described herein that communicate with the interface switch 130, such as a point of sale device (POS). The terminal reads the card number to associate the card with the transfer of funds. For example, a recipient may enter identity information, such as their name, into a POS device to access records of funds to be paid for. The card may then be swiped in the POS device to read the card number and allow the card account number to be tied to the funds. Funds are then credited to the account using any of the techniques described herein. In some cases, the sender may indicate that the funds are to be paid out in the form of a stored-value card. The sender may also indicate the form of value stored in the card, e.g., funds, phone time, etc.

Alternatively, the card number may be dynamically assigned by a host system, such as the interface switch 130, followed by issuing a receipt containing the account number to the recipient. For example, a terminal such as a POS terminal may print a receipt of paper or a label on a card or other medium that contains account information. The value from the account may be redeemed using the interface switch 130 using any of the techniques described herein.

The payment system of the present invention may also be used to pay funds to the recipient's bank account using the Magnetic Ink Character Recognition (MICR) code on the recipient's check. For example, the recipient may submit the MICR code to the interface switch 130 using any of the interfaces described herein, including POS devices having readers. In this method, the recipient receives funds by entering identity information into the POS device and then reading the MICR line by swiping a check through the POS device. Once the account information is read, the information is transferred to interface switch 130 where funds may be deposited into the recipient's account using the techniques described herein. Similar techniques may also be used to transfer funds to the recipient's bank account using the recipient's debit card. For example, the recipient's debit card may be swiped at a POS terminal to establish a return or return transaction in which the recipient's account is credited with the transferred funds. The interface switch 130 may perform this transaction in a similar manner as previously described with the deposit maintenance network 150.

As another example, payment funds may be automatically transferred to an online investment account and an online banking account. This account may be maintained by an investment service or bank that may access the interface switch 130 using any of the techniques described herein. Funds may be transferred to this account in various ways. For example, the sender may specify the account of the recipient such that when information regarding the payment arrives at the interface switch 130, the converter 134 (see FIG. 1B) sends the information regarding the payment to the investment service and bank where the fund may be present with the specified account number. Alternatively, the recipient may record in the database 136 which funds are to be received from any source or a particular source to be automatically transferred to the online account. As another example, a record of the fund transfer may be maintained in the interface switch 130 until the recipient is notified that the specified fund is to be placed in the online account. The actual transfer of funds may be accomplished using any of the techniques described herein, such as ACH transfer.

Funds may be transferred to an account of an online purchase service in a similar manner. In this way, the transferred funds may be accessed by a user to make purchases using an online auction or shopping website.

The funds may be transferred to the individual's bank account using a return or return transaction. For example, at a website with a POS device, the user may provide his debit card and pay. The card is read by the POS device and a return or return transaction is performed to credit a bank account associated with the debit card. In this way, the fund may be automatically credited to the user's bank account.

Another technique for paying funds is to have the sender generate a send key at the time of payment. The send key may be sent to interface switch 130 using some of the techniques described herein. Alternatively, the send key may be automatically generated by the interface switch 130. The sender then provides the send key to the recipient using techniques such as by telephone, email, regular mail, fax, in person, etc. Alternatively, the transmission key may be stored on some type of medium to be transmitted to the recipient, such as a card. The interface switch 130 also generates a confirmation password. This confirmation password may be accessed by the recipient through the connection interface switch 130 using any of the techniques described herein. The recipient may access an ATM, financial kiosk, etc. associated with the interface switch 130 with the send key and confirmation code and receive a cash payment at the ATM or financial kiosk. For example, the recipient may access an ATM114 of the ATM network to receive payment. More conveniently, the card may be inserted into an ATM to gain access to the ATM functions or to provide the ATM with a send key. Alternatively, payment at the ATM or financial kiosk may be of any form described herein, including crediting a stored value card, crediting a bank account, and the like.

When receiving a payment, various techniques and devices may be used to facilitate the entry of information related to the payment. For example, a MICR reader may be used to read the MICR line from the recipient's check to allow the interface switch 130 to transfer funds to the recipient's bank account. A card reader may be used to read the magnetic stripe from a card containing recipient account information. This information may be sent to interface switch 130 to allow crediting of the account. A keypad or keyboard may also be used to allow entry of account information. For example, a keyboard may be used to enter account information for the recipient into a website or other online screen to be used for receiving online or internet accounts for the funds. Another option is to use an Optical Character Recognition (OCR) scanner or other reader to allow OCR or other account information, such as bar codes, to be read into the system. For example, a recipient may wish to use the transferred funds for paying an outstanding bill, such as a loan payment, a telephone or utility bill. In this case, the account information may be sent from the account or invoice to the interface switch 130, which may transfer funds to the holder of the outstanding bill using any of the techniques described herein. Still further, various biometric devices may be used to identify the customer as having a presence and account binding. Examples of biometrics may be readings including face recognition, fingerprint acquisition, retinal or iris scans, and the like. This information may be sent to the interface switch 130, which may include an engine to determine the recipient and perform a search in a database to determine the recipient's account. The fund may then be transferred to the account.

Another feature of the invention is for the sender or recipient to be able to receive information about what value is in the system and can be used for sending or receiving. Thus, when connected to the system using any interface (e.g., interfaces 110, 112, financial kiosk, ATM, IVR system, computer, PDA, etc.), the user can enter identity information and then receive a summary of what value is in the system. For example, a sender may access the system and receive information regarding previous transfers, transfers in progress, transferred unclaimed value, value stored in a stored value account. Other information that may also be provided includes information regarding why the value was entered, such as for funds transfer, for stored value accounts, for bill payment, and so forth. As another example, information regarding the status of the input or the form of payment may be provided at the time the value is input into the system, such as in the form of cash, credit card, money order, check, etc. The time at which funds are input may also be included.

At the receiving party, the recipient may receive information, such as the transfer value remaining in the system, the sum of the values transferred out of the system, and so forth. Other information that may be provided includes the source of the funds, the time of transfer, and the like.

Once logged into the system, either the sender or the recipient may receive relevant information regarding how the value was transferred or extracted from the system. This information may be provided in the form of a summary of the entire list of options, or may be one or more recommended options generated based on input from the sender or recipient. An example of how this information can be provided to the sender is shown in figure 6.

In fig. 6, a sender accesses the host system and requests a transfer of funds or value using all of the devices described herein, as shown in step 400. Alternatively, the host system may list all possible options for transferring funds, as shown in step 410. This listing may include any value transfer option described herein, such as payment via money order, transfer to the recipient's account, payment with a card, and the like. Alternatively, the sender may select one of the displayed options, as shown in step 420, and proceed according to the selected option.

Alternatively, the sender may be prompted with various types of information about the transfer so that the host system may recommend one or more options. These may include, but are not limited to, requiring information about the type of funds recipient, as shown in step 430. Conveniently, a box for entering the information may be provided, or the predetermined type may be selected from a drop down menu. For example, the sender may select a type, such as family member, colleague, charity, retailer, and so forth. The sender may also be asked to enter information regarding the amount of the transfer, as shown in step 440. This information may be selected by typing it in, or by selecting it from a drop-down menu. The sender may also be queried for information about available extraction sites, as shown in step 450. For example, the sender may select from a directory of abstraction sites, such as a particular zip code, city, country, etc. Further, the sender may also be queried for information on the types of interfaces available to the recipient, as shown in step 460. Such interfaces may include, for example, funds-transfer points, personal computers, ATMs, financial kiosks, banks or credit card unions, and the like. Alternatively, other types of information related to value transfer may be required. For example, the sender may optionally be asked about the purpose for which the funds are to be used, as shown in step 470.

Using the information provided by the sender, the host system processes the information to generate one or more recommended options for transferring funds, as shown in step 480. The host system may logically and query the table to decide on the options based on the standard input. These may then be displayed to the sender, as depicted at step 490. For example, if the recipient does not have a personal computer, the recommended option may be to withdraw cash at the actual location, such as a money transfer site. Alternatively, the option may be to place a stored-value account financial kiosk that the recipient may access from an ATM machine or a financial kiosk. If the recipient is located in a suburban area, the option may be to post or personally deliver a money order. As a further example, if the intended use of funds is for a particular store, the recommended option may be to use a stored value card accepted by the store. More conveniently, the options may be displayed to the sender in textual form or communicated orally. For example, the recommended option may state that: we recommend that i withdraw cash in person at a money transfer site located at 123 a wyen street, los angeles, california.

Such a process may also be used when the transferred value is used to pay an amount due, such as bill payment. For example, the customer may enter a request to pay a bill at a remote computer, point of sale device, PDA, mobile phone, etc. The customer (or customer service representative) may be required to enter information needed to process the bill payment, such as the customer's account, the amount to be paid, the type of payment instrument, and so forth. This information may then be sent to the host system in a similar manner to other embodiments already discussed. An account associated with the payment instrument may be evaluated to ensure that sufficient funds are available to pay the bill. For example, the host system may perform a pre-authorization step by evaluating a savings account, a credit card account, a stored value account, and the like.

In addition, the host system may send a list of possible payment options using the desired payment instrument to the remote computer (or such information may be stored on the remote computer). In some cases, payment options using other types of payment instruments may also be suggested. Such payment options may include, for example, real-time guaranteed fund payment by withdrawing cash at a third party site that guarantees funds to be paid to the drawer, debiting an ATM (with or without a Personal Identification Number (PIN)), transferring with ACH, check payment, and so forth. A listing of the respective fees for these options may also be provided to the customer.

Once the customer has agreed to an option and provided a type of authorized payment, the host system can easily proceed with the payment process. This may be accomplished by generating a request to debit a payment account so that funds may be transferred to the drawer. Various different intermediary accounts may be used to store and transfer the required funds. The appropriate fee may also be deducted. Further, the customer may be provided with a receipt on which the form of payment used, the fee charged and a confirmation of payment completion are displayed.

At the receiving party, a similar process may be used to provide recommended options for receiving funds. For example, as shown in step 500 of FIG. 7, the recipient may access the host system to request payment for the transferred funds. The recipient may be provided with a list of all possible payment options or may be prompted to enter information that will be used to generate one or more recommended payment options. For example, as shown in step 510, the recipient may be asked to provide information regarding the intended use of the funds. The recipient may also be asked to provide information regarding the types of accounts available to the recipient, as shown in step 520. Such accounts may include some of the accounts described herein, such as bank accounts, credit accounts, investment accounts, stored value accounts, and so forth. The recipient may also be asked to provide information regarding the transfer amount, as shown in step 530. Other questions regarding payment may also be required. The host system inputs this information to generate one or more recommended options for receiving funds, as shown in step 540. The host system may include logic and a lookup table to match recommended options based on the inputs. These are then displayed or orally communicated to the recipient. For example, if the recipient does not have any account and is expected to pay a friend in cash, the recommended option may be to pay in cash at a money transfer site. As another example, the recipient may have a checking account and wish to pay for the service by check. In such a case, the recommended option may be to transfer the fund to the recipient's checking account.

Another embodiment of the invention relates to restrictions that may be associated with payment of funds. These limits may be limits on the type of payment that may be made at the time of withdrawal, or limits on how funds are paid when paid to multiple recipients. For example, the sender may specify that funds must be paid to a debit card, stored value card, phone card, gas card, and the like. Still further, the sender may set limits on how much transferred funds may be withdrawn from the system over time, e.g., the recipient may take no more than $50 per week until all of the funds are withdrawn. For multiple recipients, the sender may set limits, such as an amount that each recipient can withdraw, or may require that some or all of the recipients must be present at the time of withdrawal. Alternatively, any recipient may withdraw any amount of money at any time.

With reference to fig. 8, one embodiment of setting these limits will be described. The sender initially enters value within the system, as shown at step 550, using any of the techniques described herein. The sender may then be prompted as to whether the sender wishes to transfer funds to multiple recipients, as shown in step 560. If desired, the process proceeds to step 570 where the sender designates a plurality of recipients who may withdraw cash from the system. The sender may also be asked if the sender wishes to set a limit on the withdrawal, as shown in step 580. If so, the process proceeds to step 590 where the sender enters any desired restrictions. These restrictions may facilitate selection from a menu displayed to the sender or spoken selection using an IVR system. These restrictions are stored by the host system, as shown in step 600, and the process ends at step 610. Withdrawal may be limited based on the limiting terms set by the sender when an intended recipient accesses the system to withdraw funds. For example, the sender may require that all recipients be present before funds are withdrawn. If only one of the recipients attempts to withdraw funds from a fund transfer site, the clerk will receive a message that all recipients must be present and may decline to pay for the fund. As another example, the limit may be that the fund is placed on a phone card. If the recipient requests payment of cash at a money transfer site, the request may be denied and the recipient is provided with a phone card.

Many individuals, small businesses, or merchants, etc. may have periodic or short-term needs to receive payments or transfers of funds many times. However, because of such limitations of use, these individuals or businesses do not wish to establish a commercial account with traditional money transfer services, and the cost of doing so can be prohibitive. The system of the present invention may accommodate this need by allowing such individuals or entities to use the funds-transfer system within certain limits. For example, these accounts may be limited in time, amount transferred, number or transfer, etc., alone or in combination. Still further, these accounts may be requirements for certain executions, such as a minimum transaction amount.

As an example, an individual may have 15 items auctioned on the internet. The individual will only receive a guaranteed fund. These items may be those that are particularly attractive to cash customers, and therefore the individual needs a cash settlement method. Further, the individual needs to ensure that the cost of such services is economically viable. By establishing a particular relationship with the funds-transfer system of the present invention with certain limitations, such as not more than 15 transactions over a period of time, the seller can provide a method of cash settlement to potential customers. Further, funds may be stored directly in the seller's account with a reasonable fee.

Such an approach may be used for internet auctions, donations, situations involving a limited number of purchases, such as categorical, etc. Further, such a method may be implemented using the Internet, via a facsimile application, a telephone call, or any of the techniques described herein.

Referring now to fig. 9, a method of paying for goods or services in this manner will be described. In step 650, account information regarding a payee may be entered into the funds-transfer system. The funds-transfer system may be those described herein and the information may be entered electronically, such as via the internet, facsimile, telephone call, etc. Such information may include the name of the payee, the payee's preferred payment method, such as a direct deposit to the payee's account, and the like. Still further, as shown in step 660, the payee agrees to set one or more limits on the transfer of funds into the account from one or more payers. This information is then stored using the funds-transfer system. These limits may be the amount of the transfer, the number of the transfer, the time at which the transfer is made, etc.

Once the relationship is established, cash payments for the goods or services provided by the payee may be made from the payer at a funds-transfer site, as shown in step 670. In this way, by concentrating cash for payment, the goods fund can be secured. When the payment is complete, a record indicating that the cash was paid is transferred to the payee using the funds-transfer system, as shown in step 680. This notification may conveniently be sent electronically, for example by a mail. Still further, funds may be transferred to a payee account for payment. In this way, the payee or seller can receive the goods funds for each purchase. The seller may ship or otherwise provide the seller's services, as shown at step 690.

The description as set forth is intended to be illustrative of the preferred embodiment and is not intended to limit the scope, applicability, or configuration of the invention. However, a series of descriptions of the preferred embodiments will provide those skilled in the art with a practical description of the preferred embodiments for practicing the present invention. It being understood that various changes may be made in the function and arrangement of elements without departing from the spirit and scope of the invention as set forth in the appended claims.

Claims (87)

1. A method of storing value that can be used to purchase goods or services, the method comprising:

receiving funds from a potential purchaser at a funds transfer location;

storing an electronic record of the received funds in the purchaser's stored-value account;

accepting a request for the purchaser to transfer at least a portion of the received funds to a recipient;

the requested funds are electronically transmitted to the recipient and debited to the stored value account.

2. The method of claim 1, wherein the funds-transfer location comprises a device that can communicate with a host, wherein the stored-value account is stored on the host upon receiving the received funds information from the device.

3. The method of claim 2, wherein the request for the funds transfer is accepted at a server in communication with the host.

4. The method of claim 1, wherein the funds are obtained from a set of sources including cash, checks, credit cards, and debit cards.

5. The method of claim 3, wherein the host is configured to electronically transfer the requested funds to a recipient.

6. A method of transferring funds from a sender to a recipient, the method comprising:

receiving funds of a sender and information of a recipient who is to receive the funds;

creating an electronic record of the funds and the intended recipient;

providing the recipient with various payment options for receiving the funds, wherein the payment options are selected from the group consisting of cash, draft, credit to the recipient's account, and use of a card;

receiving a payment request using a payment option selected by the recipient;

paying the funds to the recipient in accordance with the requested payment option; and

an electronic record of the payment is created.

7. The method of claim 6, wherein said request to receive said payment is obtained from a group of means comprising a telephone request, a computer request over a network, a letter request, a personal visit, a voice response unit request, and a personal digital assistant request.

8. The method of claim 6, wherein the card comprises a closed loop debit card, further comprising extracting information from the card to obtain the value associated with the card.

9. The method of claim 8, wherein the debit card comprises an anonymous debit card, further comprising initializing the debit card based on a request received from the recipient to pay for the funds.

10. The method of claim 8, wherein the debit card comprises a stored value card, further comprising storing a record of the value on the stored value card.

11. The method of claim 8, wherein the debit card comprises a phone card, further comprising storing a record of prepaid phone time on the phone card.

12. The method of claim 8, wherein the debit card comprises an internet cash card, further comprising storing a record of the funds on the cash card.

13. The method of claim 8, further comprising initializing a debit card by associating an electronic record of funds with an account of the debit card using a point of sale device.

14. The method of claim 8, further comprising printing a receipt using a point-of-sale device, wherein the receipt has account information associated with the electronic record of funds.

15. The method of claim 14, wherein the debit card comprises the receipt.

16. The method of claim 14, wherein the receipt comprises a label on the debit card.

17. The method of claim 6, further comprising receiving a Magnetic Ink Character Recognition (MICR) number of the check from the recipient, wherein the funds are credited to the bank account using the MICR number.

18. The method of claim 6, further comprising receiving information from a recipient on an online fund account, wherein funds are credited to the online fund account using the information on the online fund account.

19. The method of claim 18, wherein the online fund account is selected from the group consisting of an online funds transfer account, an online banking account, an online investment account, and an online auction account.

20. The method of claim 6, further comprising receiving a debit card from the recipient, wherein the funds are credited to a bank account associated with the debit card by a return transaction using a point-of-sale device.

21. The method of claim 6, further comprising receiving a send key from the sender and assigning a confirmation code, further comprising receiving the send key and the confirmation code from a recipient prior to providing the funds to the recipient.

22. The method of claim 6, further comprising crediting the account by adding the account information to a point of sale device.

23. The method of claim 22, wherein the account information is from a set of input devices including a line MICR reader to read the MICR from the recipient's check, a magnetic stripe reader to read a magnetic stripe from the recipient's card, a keypad to allow manual entry of account information, an Optical Character Recognition (OCR) scanner or imager to read the account from the recipient's statement, and a biometric device to identify a pre-registered recipient bound to the account.

24. The method of claim 6, further comprising providing the recipient with a bill of fees associated with each type of payment option.

25. The method of claim 6, further comprising providing the recipient with an option to receive portions of the funds at different times.

26. The method of claim 25 wherein if a recipient requests that payment of the funds be made in multiple portions, an electronic record of each portion of payment is created.

27. The method of claim 26, further comprising deducting a transaction fee each time a partial payment is made.

28. The method of claim 6, further comprising sending information to the recipient regarding the payment options.

29. The method of claim 28, wherein the information is selected from the group consisting of e-mail, letter, phone, fax, and telegram.

30. The method of claim 6, further comprising providing the recipient with an option to select a different currency or other type of value for making the payment.

31. The method of claim 6, further comprising providing the recipient with an option to receive information from the sender.

32. The method of claim 31, further comprising providing the recipient with an option to receive the information in a specified language.

33. A method of transferring funds from a sender to a recipient, the method comprising:

receiving funds from a sender and information of a recipient to receive the funds, the funds being stored within a stored value card;

creating an electronic record of the funds and the intended recipient;

receiving a payment request from the recipient;

paying the funds to the recipient by initializing a stored-value card and storing the value of the funds to the stored-value card;

an electronic record of the payment is created.

34. A method of facilitating value transfer, the method comprising:

receiving, in a host system, a request from a remote computer that a sender require a value transfer;

sending a computer-readable file from the host system to request information regarding the requested transfer;

receiving the requested information in the host system;

determining, by the host system, one or more options for transferring the value based on the received information about the transfer; and

sending a computer readable file containing at least one option from the host system.

35. The method of claim 34, wherein the requested information regarding the transfer includes personal information regarding a recipient of the value.

36. The method of claim 34, wherein the requested information regarding the transfer includes a value receipt interface available to a recipient of the value.

37. The method of claim 34, wherein the requested information regarding the transferred value includes extraction sites available to the value recipient.

38. The method of claim 34, wherein the requested information includes information regarding payment credentials, and further comprising evaluating the information regarding payment credentials to approve a withdrawal from an account associated with the payment credentials.

39. The method of claim 34, wherein the request to transfer value comprises a request to pay an expiration amount, wherein the option for transferring the value is selected from a group consisting of a real-time guaranteed payment, a credit card payment, a debit card payment, a password-less debit card payment, and an automated exchange (ACH) payment.

40. The method of claim 34, wherein the option for transferring the value is selected from a group consisting of transfer to a funds handling location, transfer to a financial kiosk, transfer to a cash dispenser, transfer to a financial account, transfer through a negotiable instrument, and transfer to a stored value card.

41. The method of claim 34, further comprising sending a computer readable file from the host system containing a list of all options available for transferring the value.

42. The method of claim 34, further comprising sending a computer-readable file from the host system containing a list of fees associated with the option for transferring the value.

43. The method of claim 34, further comprising receiving a selection of one of the options at the host system and effecting the transfer based on the selected option.

44. A system for facilitating value transfer, comprising:

a host system having an input interface, an output interface, and a rules engine configured to determine one or more options for value transfer from a sender based on information received at the input interface relating to sender request transfer, and to send a computer readable file from the output interface having the determined options.

45. The system of claim 44, wherein the host system is further configured to receive information associated with payment credentials and to send authorization instructions to withdraw funds from an account associated with the payment credentials.

46. The system of claim 44, wherein the host system is further configured to send a request to withdraw money from the account upon receiving a selection of one of the options.

47. The system of claim 44 wherein the host system is further configured to send a bill of fees associated with the option.

48. A method of transferring value, the method comprising:

receiving, at a host system, a request to transfer value to a plurality of recipients and one or more restrictions on how the value is received by the recipients;

receiving in said host system a request to provide said value to one or more of said recipients;

determining, by the host system, a manner of the transfer based on the limit.

49. The method of claim 48, further comprising implementing the transfer based on the restriction.

50. The method of claim 49 wherein the transfer is effected by sending a computer readable file from the host system, the file giving instructions on how to pay for the value.

51. The method of claim 48, further comprising receiving information at the host system on how to provide the value to the recipient.

52. The method of claim 48, wherein the limit comprises a portion of the value provided to each recipient.

53. The method of claim 48, wherein the limit comprises a time limit when value may be received.

54. The method of claim 49, wherein said limit comprises a specification of a form of value.

55. The method of claim 48, wherein the limit comprises a designation of which recipient must be present when the value is received.

56. A value transfer system, comprising:

a host system having an input interface, an output interface, and a rules engine, wherein the input interface is configured to receive a request to transfer value to a plurality of recipients and one or more restrictions on how the value may be received by the recipients, and to receive a request to provide the value to one or more recipients, wherein the rules engine is configured to determine a manner of the transfer based on the restrictions.

57. A method of paying for goods or services using a network, the method comprising:

providing account information about the payee to the funds-transfer system;

setting at least one limit on the transfer from one or more payers to the account and storing the limit in the funds-transfer system;

receiving a cash payment from at least one payer at a funds-transfer location, wherein the cash payment is used to pay for a good or service provided by a payee;

sending a record to the funds-transfer system over a network to indicate that the cash payment has been completed; and

transferring funds to the account of the payee over a network using the funds-transfer system based on the cash payment.

58. The method of claim 57, wherein the limit is selected from the group consisting of an amount allowed to transfer to the payee account, a time period for transfer to the payee account, an amount transferred to the payee account each time.

59. The method as recited in claim 57, wherein the transferring of funds is performed using an automated exchange-transfer machine.

60. The method of claim 57, further comprising sending a payment record from the funds-transfer system to the payee.

61. The method of claim 60, further comprising sending details from the payee to the payer upon receipt of the payment record.

62. The method of claim 58 further comprising charging a transaction fee in connection with the payment.

63. A method of transferring funds to a location having a different currency, the method comprising:

receiving and storing funds transfer information at the host system, the information including recipient identification information, at least one country in which the funds are to be accepted, and a payment amount in an original currency;

receiving a request in said host system for withdrawal of a portion of the payment amount, which is paid in the local currency of the country from which said request was sent; and

storing at the host system a record of the amount of the withdrawal and the exchange of the payment to the exchange rate of the local currency.

64. The method of claim 63, further comprising storing a record of any fees paid in relation to said withdrawal amount in said host system.

65. The method of claim 63, wherein the received information includes a name and an identification number of the recipient, wherein the request includes the identification number from the recipient, and further comprising comparing the identification numbers to approve the withdrawal.

66. The method of claim 63, wherein the request includes a name of a sender, wherein the sender and recipient are the same.

67. The method of claim 63 further comprising sending the required receipt information from the host computer system to a remote payment computer to provide a receipt to the recipient.

68. The method of claim 67 wherein said received information includes an amount paid to the recipient, any fees, and a balance of said paid amount.

69. The method of claim 63, further comprising receiving and storing the funds in a plurality of countries in which the funds may be received at the host system.

70. A method of transferring funds to a location having a different currency, the method comprising:

entering remote computer funds-transfer information from a sender, wherein the funds-transfer information includes recipient identification information, at least one country from which the funds may be received, and a payment amount in an original currency;

sending the funds-transfer information from the remote computer to a host system; and

providing a receipt to the sender, the receipt including at least some of the funds-transfer information and payment information usable to identify potential payment points in the identified country.

71. The method of claim 70 wherein the recipient information includes a name of the recipient and an identification number for enabling receipt of payment from the identified country.

72. A method of receiving funds at a location having a currency different from a currency in which the funds were sent, the method comprising:

entering payment computer recipient identification information and a request to extract a portion of the possible payment amount;

sending said recipient identification information and said extraction request to a host system;

the requested withdrawal is manually provided to the recipient in a local currency.

73. The method of claim 72, further comprising receiving a confirmation of recipient identification information at the payment computer.

74. The method of claim 72, further comprising receiving information on a currency exchange rate, any charges, and any balance of the payment amount at the payment computer.

75. The method of claim 72, further comprising displaying information at the payment computer prompting entry of recipient identification information.

76. A method of transferring funds to a location having a different currency, the method comprising:

entering funds transfer information from a sender into a remote computer, wherein the funds transfer information includes recipient identification information, at least one country in which the funds are to be received, and a payment amount in an original currency;

sending the funds transfer information to a host system;

entering recipient identification information and a request to extract a portion of the possible payment amount into a payment computer located in the designated country;

sending said recipient identification information and said extraction request to a host system; and

the requested withdrawal is provided to the recipient in the local currency.

77. The method of claim 76, further comprising adjusting an account associated with the recipient to indicate the withdrawal amount and any fees.

78. A funds-transfer system, comprising:

a host system configured to receive and store funds transfer information, said information including recipient identification information, at least one country from which said funds are to be accepted, and a payment amount in an original currency; and

wherein the host system is further configured to receive a request for a portion of the payment amount to be drawn in the local currency of the country from which the request was sent, to deduct the requested portion and any fees from the payment amount, and to exchange the requested portion for local currency.

79. The system of claim 78, wherein the host system is further configured to receive recipient identification information from a recipient and compare the received recipient identification information to stored recipient identification information.

80. The system as recited in claim 78, wherein the host system is further configured to send the receipt information of the remote payment computer required to provide a receipt to the recipient indicating the withdrawal.

81. The system of claim 78, wherein the host computer system is further configured to send a remote payment computer contact information to contact the payment location in the specified country.

82. A method of transferring funds, comprising:

receiving funds at a first financial institution location and information relating to an intended recipient of the funds;

transferring at least a portion of the received funds to a second financial institution location;

associating at least a portion of the transferred fund with a card.

83. The method of claim 82, further comprising providing the card to the intended recipient at the second financial institution location.

84. The method of claim 82, wherein the card comprises a stored-value card.

85. The method of claim 82, wherein the card comprises a debit card.

86. The method of claim 82, further comprising withdrawing cash from a cash transaction machine using the card.

87. The method of claim 82, further comprising using the card to make a purchase.