Patent ID: 7668780
Filing Date: 2010-02-23
Classification: G06Q,G07F,H04M

Abstract:
1. A method for sending cash money transfers at anytime from anyone to a remotely located party, comprising the steps of: providing a sender with available funds, the available funds being selected from one of: a credit card of the sender or a debit card of the sender, providing a recipient being remotely located from the sender, wherein the sender and the recipient are different from one another; communicating an unplanned request for cash funds from the remotely located recipient to the sender; providing a toll free connection to a remotely located IVR (interactive voice response) computer system; connecting the sender to the IVR (interactive voice response) computer system by a communication medium using the toll free connection, the communication medium being selected from one of a phone or a computer modem, the IVR system receives multiple simultaneous communications from different senders and prompts each sender to enter transfer authorization data, the IVR system processes the data in automated modes with software and converts the data to language of existing banks, processors, processing networks and clearing houses, and the IVR system processes the transfer with transmission lines and electronic mediums, the electronic mediums being different from the communication medium; providing a national bank escrow account to receive the cash to be transferred plus an amount for a possible terminal charge and to temporarily hold the cash; providing a recipient card consisting of a credit card with a magnetic stripe or a debit card with a magnetic stripe; authorizing a transfer of cash to the recipient-card by the sender entering responses to automated prompts from the remotely located IVR system, solely through the connection medium; transferring by a computer the cash from accessible funds of the sender to the recipient-card by the sender solely using the communication medium and the IVR system; providing a remotely located automated terminal, the terminal being selected from one of an existing ATM (automated teller machine) or an existing POS (point of sale terminal); physically presenting the recipient-card by the recipient to the remotely located automated terminal; and physically retrieving the cash by the recipient using the recipient-card having the magnetic stripe at the remotely located automated terminal; and repeating the above steps between the different senders and different recipients causing simultaneous cash money transfers from the different senders and the different recipients.