Patent ID: 8024242
Filing Date: 2011-09-20
Classification: G06Q

Abstract:
1. A system for securing foreign destination currency funds for a traveler for prospective travel in a selected foreign destination country commencing on a preselected travel date, the system comprising: a domestic financial institution computer positioned at a domestic financial institution site to define a domestic financial institution server, the domestic financial institution server having a processor and memory operably coupled thereto; a remote user computer positioned remote from both the domestic financial institution server and a foreign destination country financial institution computer and in communication with the domestic financial institution server through a communication network, the foreign destination country financial institution computer positioned at a foreign financial institution site located in a selected foreign destination country in communication with the domestic financial institution server through the communication network; the domestic financial institution server configured to perform the operations of: receiving, on a first date, traveler personnel identification data for a traveler, a future travel date being substantially later than the first date and being established by the traveler to thereby define a preselected travel date, and indicia of the selected foreign destination country from the remote user computer through the communication network; determining a foreign exchange rate for conversion of domestic currency funds to foreign destination currency funds for the selected foreign destination country and substantially all fees associated therewith responsive to the receiving of the indicia of the selected foreign destination country; presenting the determined foreign exchange rate and associated exchange fees to the remote user computer through the communication network; receiving an indication of an amount of traveler desired foreign destination currency funds to open an interest-bearing foreign destination currency transaction account and indicia of a traveler selected domestic currency funds payment method from the remote user computer through the communication network; establishing the interest-bearing foreign destination currency transaction account responsive to receiving one or more of the following: the amount of traveler desired foreign destination currency funds to open the interest-bearing foreign destination currency transaction account and the indicia of the traveler selected domestic currency funds payment method, the interest-bearing foreign destination currency transaction account being funded by the domestic currency funds provided by the traveler to thereby secure foreign destination currency funds for the traveler at the foreign exchange rate for use by the traveler in the selected foreign destination country on and after the preselected travel date; establishing a maturity date for the interest-bearing foreign destination currency transaction account responsive to the preselected travel date; and responsive to passage of a second date associated with the preselected travel date, providing the traveler access to the foreign destination currency funds via a debit card associated with the foreign destination country financial institution.