Systems and methods for transferring funds to a pre-paid account

Patent metadata

Field	Value
Publication number	US-12079786-B2
Application number	US-201916709296-A
Country	US
Kind code	B2
Filing date	Dec 10, 2019
Priority date	Oct 10, 2013
Publication date	Sep 3, 2024
Grant date	Sep 3, 2024

Abstract

According to the invention, a method for transferring funds from a sender to a pre-paid account to be assigned to a recipient is disclosed. The method may include receiving a request to perform a funds transfer, including an amount and a recipient, and determining whether to approve the request. Upon approval, the method may include selecting a first and second money transfer control number (MTCN). The method may include recording an association of the amount and the recipient with the first MTCN, and an association of the two MTCN's. The method may include sending the second MTCN out and later receiving a request to redeem which includes the second MTCN. The method may include determining the first MTCN based on the second MTCN, and whether to approve the request. Upon approval, an indication may be sent that the amount is available for funding of the pre-paid account of the recipient.

First claim

What is claimed is:

1. A method for transferring funds from a sender to a pre-paid instrument account to be assigned to a recipient, the method comprising:
receiving, from a first agent system, a first request to perform a funds transfer from the sender to the recipient, wherein the first request comprises an amount, an identification of the recipient, and an indication that a destination of the funds transfer is the pre-paid instrument account of the recipient;
determining whether to approve the first request;
selecting, based upon determining that the first request is approved, a first identifier;
recording, based on receipt of the indication that the destination of the funds transfer is the pre-paid instrument account, an association of the first identifier with a flag identifying the funds transfer as a funds to pre-paid instrument account transfer; and
sending, to a second agent system, based upon a determination that the association of the first identifier with the flag identifying the funds transfer as a funds to pre-paid instrument account transfer, an indication that the amount is available for funding of the pre-paid instrument account of the recipient.

2. The method of claim 1 , further comprising:
receiving, from the second agent system, a second request, wherein:
the second request is a request to redeem the funds transfer; and
the second request comprises a second identifier.

3. The method of claim 2 , further comprising:
determining, by the first agent system, a previously recorded association between the first identifier and the second identifier, and wherein the first identifier is selected based on the previously recorded association.

4. The method of claim 2 , further comprising:
determining whether to approve the second request based at least in part on the first identifier; and
sending, to the second agent system, based on determination that the second request is approved and that the association of the first identifier with the flag identifying the funds transfer as a funds to pre-paid instrument account transfer, the indication that the amount is available for funding of the pre-paid instrument account of the recipient.

5. The method of claim 2 , wherein:
the first identifier comprises a first money transfer control number having a first number of characters; and
the second identifier comprises a second money transfer control number having a second number of characters that is different than the first number of characters.

6. The method of claim 1 , further comprising:
funding a pre-paid card based on the amount that is available for funding of the pre-paid instrument account of the recipient.

7. The method of claim 2 , further comprising:
authorizing, by the second agent system, collection of the funds transfer in cash; and
determining, by the second agent system, an additional fee for the collection of the funds transfer in cash.

8. The method of claim 7 , further comprising:
reducing, by the second agent system, the amount that is available for funding of the pre-paid instrument account of the recipient based on the additional fee.

9. A system for transferring funds from a sender to a pre-paid instrument account to be assigned to a recipient, the system comprising:
a first agent system;
a second agent system; and
a server system configured to:
receive, from the first agent system, a first request to perform a funds transfer from the sender to the recipient, wherein the first request comprises an amount, an identification of the recipient, and an indication that a destination of the funds transfer is the pre-paid instrument account of the recipient;
determine whether to approve the first request;
select based upon determining that the first request is approved, a first identifier;
record, based on receipt of the indication that the destination of the funds transfer is the pre-paid instrument account, an association of the first identifier with a flag identifying the funds transfer as a funds to pre-paid instrument account transfer; and
send, to the second agent system, based upon a determination that the association of the first identifier with the flag identifying the funds transfer as a funds to pre-paid instrument account transfer, an indication that the amount is available for funding of the pre-paid instrument account of the recipient.

10. The system of claim 9 , wherein the server system is further configured to:
receive, from the second agent system, a second request, wherein:
the second request is a request to redeem the funds transfer; and
the second request comprises a second identifier.

11. The system of claim 10 , wherein the server system is further configured to:
determine whether to approve the second request based at least in part on the first identifier; and
send, to the second agent system, based on determining that the second request is approved and that the association of the first identifier with the flag identifying the funds transfer as a funds to pre-paid instrument account transfer, the indication that the amount is available for funding of the pre-paid instrument account of the recipient.

12. The system of claim 10 , wherein the server system is further configured to:
determine, by the first agent system, a previously recorded association between the first identifier and the second identifier, and wherein the first identifier is selected based on the previously recorded association.

13. The system of claim 10 , wherein:
the first identifier comprises a first money transfer control number having a first number of characters; and
the second identifier comprises a second money transfer control number having a second number of characters that is different than the first number of characters.

14. The system of claim 13 , wherein:
the second number of characters in the second identifier indicates that the destination of the funds transfer is the pre-paid instrument account of the recipient.

15. The system of claim 9 , wherein the server system is further configured to:
fund a pre-paid card based on the amount that is available for funding of the pre-paid instrument account of the recipient;
receive authorization, from the second agent system, for collection of the funds transfer in cash; and
receive, from the second agent system, an indication of an additional fee for the collection of the funds transfer in cash.

16. A non-transitory, machine-readable machine medium having instructions stored thereon, the instructions executable by one or more processors for transferring funds from a sender to a pre-paid instrument account to be assigned to a recipient, wherein the instructions are executable by the one or more processors to at least:
receive, from a first agent system, a first request to perform a funds transfer from the sender to the recipient, wherein the first request comprises an amount, an identification of the recipient, and an indication that a destination of the funds transfer is the pre-paid instrument account of the recipient;
determine whether to approve the first request;
select, based upon determining that the first request is approved, a first identifier;
record, based on receipt of the indication that the destination of the funds transfer is the pre-paid instrument account, an association of the first identifier with a flag identifying the funds transfer as a funds to pre-paid instrument account transfer; and
send, to a second agent system, based upon a determination that the association of the first identifier with the flag identifying the funds transfer as a funds to

Assignees

• Western Union Co

Inventors

• Cochran Chris
• Jeffords Gary
• Sada Rodrigo

Classifications

• G06Q20/28

  Pre-payment schemes, e.g. "pay before" · CPC title

• G06Q20/10 Primary

  specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems · CPC title