Patent ID: 8065236
Filing Date: 2011-11-22
Classification: G06Q,G07D,G07F

Abstract:
1. A method for processing coined money using a stored value account, the method comprising: receiving from a user a plurality of coins into a coin processing machine; processing the coins with the coin processing machine to determine a value of the coins, wherein processing the coins with the coin processing machine to determine the value of the coins comprises converting the value of the coins from one country's currency to another country's currency; receiving a name of a payee, wherein the user and payee are different persons; transmitting a money transfer request, wherein: creating an electronic record of a second portion of the determined value with the coin processing machine, wherein the second portion of the determined value is greater than zero; associating the electronic record of the second portion of the determined value with a stored value account, wherein the stored value account is associated with a payment identifier; electronically transmitting the electronic record of the second portion of the determined value associated with the stored value account from the coin processing machine to a stored value network; and adjusting the value of the stored value account based on the electronic record.