Patent ID: 8554672
Filing Date: 2013-10-08
Classification: G06Q,G07F

Abstract:
1. A method for transferring funds from an originator to a recipient, the method comprising: receiving, using a computer, a selection from the originator of an option to transfer funds from a source account of the originator to a financial institution escrow account for dispensing to the recipient at any of a plurality of financial transaction terminals and identification information for the recipient, wherein the recipient identification information comprises a cardless identifier associated with the recipient and wherein the cardless identifier does not require a transaction card of the recipient for use of the cardless identifier; furnishing, using a computer, a unique authentication code associated with the recipient identification information to the originator upon receiving the recipient identification information that identifies the recipient, said recipient identification information and associated unique authentication code serving only to identify the recipient for dispensing of the cash in the financial institution escrow account to the recipient at any of the plurality of financial transaction terminals without allowing the recipient access to any account of the originator; receiving, using a computer, a designation of the source account and an amount of funds to be transferred from the source account to the financial institution escrow account for dispensing to the recipient at any of the plurality of financial transaction terminals; transferring, using a computer, the designated amount of funds from the source account of the originator to the financial institution escrow account for dispensing to the recipient at any of the plurality of financial transaction terminals; receiving, using a computer, entry by the recipient of the recipient identification information and the associated unique authentication code; and dispensing, using a computer, at said one of the plurality of financial transaction terminals, to the recipient an amount of funds specified by the recipient up to the designated amount of cash from the financial institution escrow account.