Patent ID: 8676681
Filing Date: 2014-03-18
Classification: G06Q

Abstract:
1. A computer-implemented method for a financial institution to implement service fee profiles for participation in an international remittance system comprising: storing in a computer a plurality of service fee profiles, each of the service fee profiles for associating a respective service fee level with each of a plurality of transaction amount tiers; receiving, by the computer, user input selecting a first pair of currencies, the first pair of currencies including a first sender currency associated with a first sender country and a first recipient currency associated with a first recipient country defining a first class of remittance transactions; receiving, by the computer, user input selecting a first service fee profile having first transaction amount tiers; assigning, by the computer, said selected first service fee profile to the first class of remittance transactions associated with international remittance transactions that involve the selected first pair of currencies; receiving, by the computer, user input selecting a second pair of currencies, the second pair of currencies different from said first pair of currencies and including a second sender currency associated with a second sender country and a second recipient currency associated with a second recipient country defining a second class of remittance transactions; receiving, by the computer, user input selecting a second service fee profile from the stored service fee profiles, said second service fee profile having second transaction amount tiers different from the first transaction amount tiers of said first service fee profile assigning, by the computer, said selected second service fee profile to the second class of remittance transactions associated with international remittance transactions that involve the selected second pair of currencies; and applying, by the computer, the first service fee profile when an international remittance transaction occurs between the first sender country and the first recipient country involving the first pair of currencies, and the second service fee profile when an international remittance transaction occurs between the second sender country and the second recipient country involving the second pair of currencies.