Abstract:
A system for transferring funds and a video message employs an enclosure at a local station managed by a local agent. The enclosure includes recording equipment and a telephone linked by an automatic dialer to a call center that takes an order from the sender to transfer funds to a beneficiary at a remote destination. The recording equipment records the video message after the order is taken. The video message is forward to a remote agent at the remote destination from whom the beneficiary redeems the funds and is given the video message.

Description:
RELATED PATENT APPLICATION  
       [0001]    This application is a utility application based on U.S. provisional based on U.S. provisional patent application Ser. No. 60/271,919, entitled “Method and System for Transferring Funds and Video Messages,” filed Feb. 27, 2001. This related application is incorporated herein by reference and made a part of this application. Moreover, Applicants hereby incorporate herein by reference, any and all U.S. patents, U.S. patent applications, and other documents and printed matter cited or referred to in this application. 
     
    
     
       BACKGROUND OF INVENTION  
         [0002]    The wire transfer industry has been in existence for more than 100 years. During this period it has become the number one source of sending money back home for immigrants, particularly from in the United States to other countries. There are three kinds of wire transfers being performed here in the United States:  
           [0003]    1—Banking Wires: used for financial needs, such as business deals, transferring of accounts, mostly high balances, only from bank to bank.  
           [0004]    2—Domestic Wires: used for transferring small amounts within the United States. This service is dominated by Western Union and Money Gram. This service is usually used for college students, the military, and family members in need.  
           [0005]    3—International Wire Transfer: used mostly by immigrants to send money back home. The average wire transfer amount is about $300.00 US dollars.  
           [0006]    For the last century the international wire transfer business has grown beyond most expectations. There are now over 300 companies that offer the service of transferring funds mainly to Mexico, Central America, and South America. Companies have searched for better and more cost effective ways to transfer funds from the United States to destinations in other countries. Costs, as well as competition, have forced competitors to look for better or different kinds of service to maintain market share. Companies through out the years have created new ways to send money and to cut the cost related to this service. “Friendly User” has been the general goal for the companies due to the fact that most of the users or senders are immigrants, and a many are illiterate and speak a different language than English.  
           [0007]    Initially, the person desiring to make a wire transfer had to enter a financial institution, for example, a bank, and order a wire transfer. This made it difficult to attract customers, since the immigrants were afraid to enter a “financial institution.” They thought they would be “deported.” In the beginning of the last century, the major wire transfer companies, e. g. Western Union and Money Gram, “the leaders,” introduced an aggressive marketing campaign in the United States by recruiting nation-wide small “mom and pop” shops, to serve as the agent or the “Affiliated Store.” This practice allowed many immigrants to feel more secure and at ease at the time of entering a “mom and pop” shop to send or receive money. These stores or shops were conveniently located, being placed strategically in neighborhoods in cities were the presence of banks were restricted or in the farming communities heavy populated by immigrants.  
           [0008]    The major wire transfer companies recruited the store or shop as an agent and supply it with all the necessary products and materials to perform an outgoing or incoming wire transfer. It was a success. With the years to come, more and more companies invaded the wire transfer industry seeking the opportunity to participate in the revenues generated from this type of service. The agent became more interested in offering this type of service to its customers, due to the tremendous foot traffic generated at its store location. The system was great! But something was missing. Because many of the senders were immigrants and many did not now how to speak English, even how to reed or write, the industry was forced to come up with a better and faster way to send money.  
           [0009]    The major wire transfer companies used, and still use in many cases. a primitive service referred to as the “Form.” A customer enters a location, the Affiliated Store, and requests a form to send money. They fill out the information requested on the form and deliver it to the attendant or the storeowner. The information is then called into a main operation station, or in some cases due to the store&#39;s large volume, to a computer issued by the major wire transfer company. The information is entered and sent. The basic problem is that neither the storeowner nor the sender knew how to write the names of the beneficiaries or the cities were the money is going to be received. About 98% of all wires being performed were headed to third world countries. Although this service was obsolete, it works, and today over 1.5 million senders still utilize the Form.  
           [0010]    Competitors of the major wire transfer companies immediately started to look for better and faster ways to transfer funds. They wanted to offer an easier way of sending the money at the store itself. During the last decade the “hot phone,” the name given in the industry, was created. It was a phone utilized for many years in airports, catalog services, at department stores, and in many customers service businesses through the United States. The phone did not have a keypad. The customer simply lifted up the headset, and though an automatic dialer, programmed by the wire transfer company, the sender at the store would be connected to the company&#39;s call center. At this call center, an operator speaking the same language as the customer, would assist the customer in performing the wire transfer. No more did the storeowner or the sender have to deal with the language barrier.  
         SUMMARY OF INVENTION  
         [0011]    The present invention provides an improved wire transfer system and method to send conveniently a personal video message at the same time that a wire transfer of funds is being executed. The invention has several features. Without limiting the scope of this invention as expressed by the claims that follow, its more prominent features will now be discussed briefly. After considering this discussion, and particularly after reading the section entitled, “DETAILED DESCRIPTION,” one will understand how the features of this invention provide its benefits, which include, but are not limited to, quickly and conveniently sending a video message with a wire transfer to a remote location, typically from one country to another country.  
           [0012]    The first feature of the system of this invention is that it enables the sender to create conveniently and quickly a personalized video message when he or she is sending money to relatives, friends, and other beneficiaries at a remote destination, most likely, their native country. This novel system includes a local station where the sender initiates a transaction including recording a video message and placing an order to transfer funds to a beneficiary at a remote destination. A call center takes the order and the transaction is identified, typically with a unique numerical or alpha-numerical code. This codes enables each specific transaction to be tracked to insure timely and accurate delivery of the video message and funds to the proper beneficiary. The sender calls by telephone, or otherwise notifies the beneficiary of the code, and the beneficiary provides this code to an agent at the remote destination responsible for delivering the video message and funds to the proper beneficiary. This code is necessary to redeem the video message and funds at the remote destination. A receipt, including the code, is provided at the local station for approval by the sender. In addition to the code, the receipt preferably should state the amount of the funds transferred, the exchange rate, name of the beneficiary, and the remote destination. The call center issues the receipt and typically sends a fax to the sender at the local station concurrent with transaction for the signature of the sender. A signed copy is retained by both the local agent and the sender. A copy may be transmitted, for example by fax to the call center.  
           [0013]    The second feature is a telephone at the local station and recording equipment that records the video message. Preferably, an automatic dialer links the telephone to the call center. The telephone includes a conventional headset that normally is positioned to disconnect the telephone and the call center. The sender picks up the headset to manually move the headset into a call position. In this call position, a telephone call is automatically initiated by the automatic dialer, connecting the sender to the call center. Convention video recording equipment is used that includes an audio recorder that simultaneously records a voice message with the recording of the video message. Such convention video recording equipment includes a camera and a microphone that the sender accesses at the time of conducting the transaction. The recording equipment is activated at the time the order is placed to record the video message of the sender, preferably after the code is provided. The duration of the visual and audio messages may be from a few seconds to a few minutes, e.g., from 5 seconds to fifteen minutes. An audio or visual indicator is turned on when the recording equipment is activated. Both the visual and audio messages are preferably digitized for transmission over a computer network. In some instances it may be desirable or necessary because the remote destination cannot be link to a computer network, the video message is recorded on a tangible media such as a VCR video tape or compact disk (CD) that is sent via mail to the remote destination.  
           [0014]    The third feature is that the video message is stored at a storage station for subsequent delivery to the beneficiary. A computer network links the local station to the storage station and the remote destination. This computer network may be a private network or open to the public such as the global computer network commonly referred to as the Internet or World Wide Web. This such transmission of the message or messages is low cost and convenient. The funds are transmitted in the conventional manner and, as usual, the money making benefit is on arbitrage or differential in exchange rates. For example, the operator of the system buys with United States dollars large amounts of Mexican pesos at one exchange rate and sells these pesos to a sender in the United States at a higher exchange rate, making a profit with each sale. The present invention gives the sender an added incentive to buy pesos from the operator of the system because the sender can give the beneficiary a personalized video message when the funds are delivered.  
           [0015]    The fourth feature is that a local agent manages the local station and receives a commission for the transaction. Consequently, once the system is operational, very little additional costs is attributable to the management of the local stations, because there are no salaries for employees at the local station. There is a computer at the local station for the control and communication, typically a conventional personal computer (PC). This computer has a memory that stores (i) information concerning the transaction, (ii) the code identifying the transaction, and (iii) the local station or agent from which a sender is conducting a transaction.  
           [0016]    The fifth feature is the local station itself. This local station comprises an enclosure providing a recording zone for the sender to record the video message. This enclosure has at least one open side to provide the sender with access to the recording zone, and it includes the recording equipment and telephone. The headset of the telephone and the camera and microphone of the recording equipment are located with the recording zone in position to facilitate capturing an image of the sender and his voice message. The indicator is also in this zone so the sender is notified when the recording equipment has been activated. When the sender picks up the headset to manually move the headset into the call position, the call center instructs the sender to look at the camera, hang up the headset, and speak into the microphone. Usually a live operator is at the call center to take the call and enter data in a main server or hub concerning each specific transaction, speaking to the sender in his or her native language. Automated communication devices with voice synthesizers that generating synthesized voice prompts and a keyboard input for the sender to enter data may also be used. The computer network links the recording equipment to the storage station and transmits a recorded video message via the computer network to the storage station. The call center controls the activation of the indicator and the recording equipment.  
           [0017]    This invention also includes a number of related methods where a sender sends a video message and transfers funds to a beneficiary at a remote destination. These methods are set forth in the CLAIMS and disclosed in the following the section entitled, “DETAILED DESCRIPTION.” 
       
    
    
     DESCRIPTION OF DRAWINGS  
       [0018]    The preferred embodiment of this invention, illustrating all its features, will now be discussed in detail. This embodiment depicts the novel and non-obvious method and system of this invention for transferring funds and video messages as shown in the accompanying drawings, which are for illustrative purposes only. These drawings include the following figures (Figs.), with like numerals indicating like parts:  
         [0019]    [0019]FIG. 1 is a schematic illustration of a portion of the system of this invention located at a local station managed by a local agent that enables the sender to make a video message that is forwarded to a beneficiary at a remote destination.  
         [0020]    [0020]FIG. 2 is a schematic illustration of an array of enclosures like the one depicted in FIG. 1 used at the local station.  
         [0021]    [0021]FIG. 3 is a schematic illustration of the entire system for transferring funds and a video message according to this invention. 
     
    
     DETAILED DESCRIPTION  
       [0022]    As depicted in FIG. 1, there is located at a local agent&#39;s store, referred to herein as the local station  11  (FIGS. 1 and 3), a video recording enclosure  10  that enables a sender to order concurrently a funds wire transfer and create a video message. The enclosure  10  has opposed vertical side walls  10   a  and  10   c , a top wall  10   b , and a back wall  10   d . A front side  10   e  and a bottom  10   f  of the enclosure are open to provide the sender with access to a recording zone  15  within the interior of enclosure  10 . The enclosure  10  is mounted on a stand (not shown) and is of heavy duty, metal construction similar to public pay phones telephones. Within the enclosure  10  is a data board  17  utilized in the recording of the video and voice messages and the video data collection mechanism including a camera  12 , a microphone  14 , an indicator light  16 , and a telephone  18 , including a headset  18   a  normally resting in a cradle  18   b . When the sender lifts the headset from the cradle  18   b , an automatic dialer  20  connects the telephone  18  to a call center  32 , including a main server  22  (FIGS. 2 and 3) that serves as a storage station for storing data concerning each individual transaction conducted. A computer  21  is located at each station  11  for control and communication purposes. One computer  21  may control a number of separate enclosures  10  located at an individual local station  11  as depicted in FIG. 2.  
         [0023]    The camera  12  is of digital quality, but not a zoom, in order to avoid bad recording, and it should be flush mounted against an inner surface of a wall of the enclosure  10  and is of industrial quality due to ware and tear and hard handling. The microphone  14  is flush mounted against an inner surface of a wall of the enclosure  10 , and preferably of metal only. This microphone  14  preferably has a voice sensor in order to adjust volume control due to different voice pitch. The indicator light  16  is also flush mounted against an inner surface of a wall of the enclosure  10  and of heavy-duty construction in order to avoid tampering.  
         [0024]    The cradle  18   b  for the headset  18   a , also of industrial quality, is attached to an inner surface of a wall of the enclosure  10  and does not have a dial pad. A dial pad is not needed, since the telephone  18  is always connected to the same phone number. The sender initiates a telephone call by removing the headset  18   a  from its cradle  18   b . When removed from the cradle  18   b , the headset  18   a  is automatically connected to a live operator  13  at the call center  32  by the automatic dialer  20 .  
         [0025]    This invention combines the existing phone service used for money transfers with modern video and data collection technology to capture the funds wire transfer and at the same time record a video message, which may be of any short duration. Thus the invention combines a regular money transfer and a video message. The video recording enclosure  10  is placed at the local agent&#39;s station  11 . When the sender decides to order a video and funds wire transfer, he or she conducts the following operations:  
         [0026]    1—The sender enters the recording zone  15  in the enclosure  10  and picks up the headset  18   a  to activate the automatic dialer  20 . This connects the sender to the call center  32  (FIG. 3) to conduct a live conversation with the operator  13  who takes the order for the money transfer.  
         [0027]    2—The operator  13  asks the sender to provide the agent&#39;s number corresponding the location of the station  11 , and when multiple enclosure are at the same station  11 , to identity of the enclosure. This information is needed to credit and pay a commission on the transaction to the local agent managing the local station  11  at which the transaction occurs.  
         [0028]    3—Once communication is established, the operator also captures the information concerning the beneficiary, specifically the beneficiary&#39;s name and destination, and the name of the sender of the wire.  
         [0029]    4—Once all the necessary or desired information about the funds wire transfer has been captured, the operator  13  instructs the sender that when the indicator light  16  is activated, he or she should look in to the camera  12 , hang up the headset  18   a  and speak into the microphone  14 .  
         [0030]    5—The operator activates of the camera  12  remotely from the call center  32 . As shown in FIG. 2, the computer  21  is connected to the individual enclosures  10  in station  11 . This computer  21  activates each of these individual enclosures when being used. Each enclosure  10  has a number or letter identifying the specific enclosure being used by the sender. Each of these numbers or letters is already imputed into the agent&#39;s record and database in the main server  22  to identify properly the individual enclosure being used by a sender.  
         [0031]    6—The operator presses a print button (not shown) at the call center  32  to print a receipt  42  and activate a fax machine  40 . This receipt  42  states the amount of the funds transferred, the exchange rate, name of the beneficiary, the remote destination, and a code identifying the transaction. The code has a first portion identifying the local agent, and when required, the enclosure, a second portion identifying the remote destination, and a third portion identifying the transaction for tracking and delivery. With this action the following occurs:  
         [0032]    a. The fax receipt  34  with the information about the video and wire transfer is automatically sent to the local agent at the station  11  where the transaction is being conducted for approval and signature by the sender and the agent. This signed faxed is then faxed to the call center  32  to confirm that the sender has deposited the funds with the local agent and the information concerning the transaction is accurate.  
         [0033]    b. The code is assigned by the main server  22  to identify the origin of the video and wire transfer and the tracking of the video message and wire transfer transaction.  
         [0034]    c. The camera is activated and a message with voice and video data is recorded.  
         [0035]    7—Once the video message is recorded at the local station  11 , it is sent in digital format to the main server  22  by the computer  21  via a communication link such as a computer network  50 . Preferably, the information concerning each individual transaction retained in the the main server  22  and storage station is filed or organized according to the final destination to which they are to be sent. Preferably, a batch of messages and funds transfer wires are sent to and stored in a remote server  41  located in the same country as the remote destination  36 . All these stored messages and funds transfer wires for a given destination are sorted by each destination in the country of the destination and are forwarded at once in a batch to this destination. Typically, a D.S.L/Frame relay line connects the local station  11  to the storage station  22  and the main server  22  to the server  41 . When the stored and recorded video message is subsequently sent to a final remote destination  36  (FIG. 3), an agent at this destination delivers it to the beneficiary so it can be played and also pays out the funds. The code on the receipt  42  and provided by the sender to the beneficiary, preferably along with suitable ID such as a driver&#39;s license, is used insure the funds and message is being deliver to the proper person.  
         [0036]    8—In some very remote cities in Mexico, Central, and South America, their is no connection trough D.S.L/frame relay or even a phone line. In those cases the video message will be recorded on, for example, a video tape, diskette, or compact disk (C. D.) and sent via mail to the remote agent located at the intended final destination  36 .  
         [0037]    9—The beneficiary then visits the remote agent located at the intended final destination  36  and redeems the money and the video message.  
         [0038]    Once the money and the video message are redeemed, the video message can be saved or erased at the discretion of the remote agent located at the intended final destination  36 .  
       SCOPE OF THE INVENTION  
       [0039]    The above presents a description of the best mode contemplated of carrying out the present invention, and of the manner and process of making and using it, in such full, clear, concise, and exact terms as to enable any person skilled in the art to which it pertains to make and use this invention. This invention is, however, susceptible to modifications and alternate constructions from that discussed above which are fully equivalent. Consequently, it is not the intention to limit this invention to the particular embodiment disclosed. On the contrary, the intention is to cover all modifications and alternate constructions coming within the spirit and scope of the invention as generally expressed by the following claims, which particularly point out and distinctly claim the subject matter of the invention: