Patent ID: 7783539
Filing Date: 2010-08-24
Classification: G06Q

Abstract:
1. A method for executing a money transfer of funds from a first party to a second party, the method comprising: receiving customer instructions at a host computer system to stage the money transfer, the instructions including specification of an amount of money to be transferred, specification of a first currency in which the funds are to be provided by the first party, specification of a second currency different from the first currency in which the funds are to be received by the second party, and specification of a trigger currency exchange rate, wherein the trigger currency exchange rate is a customer specified ratio of the first currency to the second currency that a customer requires the monitored currency exchange rate be equal to or less than for execution of the money transfer; receiving, by the host computer system, confirmation that the funds have been collected from the first party; thereafter, monitoring, by the host computer system, a currency exchange rate between the first currency and the second currency, wherein the currency exchange rate is the ratio of the first currency to the second currency; and determining, by the host computer system, whether the monitored currency exchange rate is equal to or less than the trigger currency exchange rate.