Patent Publication Number: US-2011055083-A1

Title: System and method of funds transfer using a secure financial account

Description:
TECHNICAL FIELD 
     The present invention relates generally to the field of electronic transfer of funds, and, more specifically, to a system and method for transferring funds from a depositor to a recipient using secure bank accounts. The present invention also relates to a system and method of issuing and monitoring of secure bank accounts. 
     BACKGROUND 
     There are multiple options to transfer money between two people in different countries including bank transfer services, courier companies, prepaid cards as well as agent based money transfer companies such as Western Union and MoneyGram. 
     Each of these services has drawbacks. For example a bank transfer service requires both the depositor and the recipient to have existing bank accounts. Conventional bank checking and savings accounts are often not available to minors, persons with poor credit or financial status, travelers in foreign countries, or countries with repressive regimes. Even if those persons have a bank account, generally they will have to visit the financial institution in person at inconvenient times to receive cash. Further traditional bank accounts allow for deposits and withdraw, thus identity theft and fraud are concerns when that account information is disseminated. 
     Courier companies and agent based money transfer services suffer from human error in the handling of the funds and unscrupulous use of sensitive financial information. Agent based money transfer services require a sender to go to the agent&#39;s facility, complete cumbersome paperwork, have money transferred to a site near the recipient, who then must go to the transfer agent&#39;s site to receive the cash. The recipient then needs to provide identification, fills in more paperwork to ensure the accuracy and legitimacy of the recipient. This is a slow and often inconvenient arrangement. Prepaid cards require purchase from a dedicated retail store, which may not be available in rural areas. 
     Furthermore, providing credit/debit information for online transactions to a stranger (i.e. eBay buyer) renders one vulnerable to identity theft and fraud. There are payment options via electronic or computer devices such as cell phones and PDAs, in which the customer&#39;s credit/debit account information is transferred to payee via wireless signal. However these signals can be intercepted for purposes of theft and fraud by the interceptor. Thus, the systems and methods available today do not provide a convenient and safe mechanism for transferring funds between a depositor and recipient. 
     SUMMARY OF INVENTION 
     As used in the following embodiments, a deposit account generally refers to a deposit bank account, a deposit card account or a deposit account identification number (“ID”). The deposit account is adapted for allowing a customer to make a deposit of funds and serves as the origination account. The deposit account allows for deposit only. A withdraw account generally refers to a withdraw bank account, a withdraw card account, a withdraw account ID, or a checking account. The withdraw account is adapted for allowing a customer to make withdraws and payments and serves as the destination account. 
     In general, in a first aspect, the invention features a method of electronically processing and transferring funds from a depositor (payer) to a recipient (payee). Paired bank accounts with associated account access cards or paired cards account (“CA”) are issued to a customer, generally the depositor or recipient: a first bank account/CA is for deposits and a second bank account/CA is for withdraw. 
     The cards, such as access cards and CAs, can have an account ID, card ID and personal identification number (“PIN”) for security purposes similar to a traditional credit/debit card. The deposit bank account/CA allows for deposits only. The withdraw bank account functions as a debit account, a checking account or a prepaid credit account. The withdraw CA functions as a prepaid credit/debit card. 
     In one embodiment the deposit bank account/CA is issued in a first currency, usually a domestic currency of the origination country. The withdraw bank account/CA is issued in a second currency, usually a foreign currency of the destination country. 
     In another embodiment, a single secure account is issued to a customer. The single secure account has a deposit account ID, a withdraw account ID and a first and a second access card for each account ID respectively. The deposit account ID and its access card allow for deposits only. The withdraw account ID and its access card functions as a debit account, a checking account or as a prepaid credit account. 
     In a second aspect, the invention features a system which electronically processes and transfers funds from the deposit account to the withdraw account. The deposit account and the withdraw account are therefore linked. The online processing system monitors and automatically identifies when deposits are made to the deposit account and automatically credits the available funds to the withdraw account. The online processing system accounts for foreign currency exchange rates. 
     Generally, in one aspect the depositor sends to the recipient the withdraw access card, with the PIN, or the recipient sends the deposit access card and the PIN to the depositor. In another aspect, the recipient (typically a business or vendor) provides the deposit card or deposit account ID to the depositor (typically a buyer of goods or services). The depositor deposits funds into the deposit account through any suitable manner, such as ATM, live teller, or online banking services. The system automatically credits the withdraw account based on the funds available in the deposit account, while accounting for any foreign currency exchange rates and applicable fees. The recipient uses the withdraw card to make purchases or withdraw funds similar to a pre paid credit card or a debit card. In still a further aspect, a withdraw bank account/withdraw account ID can be used as a checking account. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         FIG. 1  is a schematic diagram showing a system and method of issuing secure bank accounts. 
         FIG. 2  is a schematic diagram showing a system and method of issuing another of secure bank accounts. 
         FIG. 3  is a schematic diagram showing a system of transferring funds from a depositor to a recipient. 
         FIG. 4  is a block diagram showing the components of a financial processing system. 
         FIG. 5  is a diagram showing the interactions of a system and method of transferring funds from a depositor to a recipient. 
         FIG. 6  is a diagram showing a further embodiment of a system and method of transferring funds from a depositor to a recipient. 
         FIG. 7  is a block diagram of the components of a computer as used in accordance with the invention. 
     
    
    
     DETAILED DESCRIPTION 
     Payment Processor 
     Typically, a payment processor processes financial transactions, including credit, debit, deposits, payments, and withdraws on behalf of one or more financial institution such as banks. Generally a payment processor also has the capability to issue accounts on behalf of issuer banks. Payment processors are usually a third party but can also be part of a bank. 
     Paired Bank Accounts 
     Referring to  FIG. 1 , two bank accounts are issued to a customer, generally the depositor, but the recipient can also establish the accounts. The bank accounts are generally issued by a system licensee  110  (“SL  110 ”) operating through payment processors  112  (“PP  112 ”) and PP  116  and approved by issuer banks. A deposit bank account  102  (“DBA  102 ”) is issued in the origination country by a domestic issuer bank  114  (“DIB  114 ”). This account is capable of deposits only. Withdraws from this account cannot be made. A withdraw banking account  106  (“WBA  106 ”) is issued in the destination country, typically a foreign country with a foreign currency by a foreign issuer bank  118  (“FIB  118 ”). These accounts are paired or linked which means that the accounts are in communication with each other, capable of electronically transferring funds from DBA  102  at a first location to WBA  106  at a second location. The WBA  106  can also be issued in a domestic currency. In one aspect, DBA  102  and DIB  114  have account identification numbers (“ID”s) capable of being recognized by payment processors and financial networks. In another aspect DBA  102  and DIB  114  have online account IDs enabling a customer to access the accounts via online or internet banking services. The SL  110  operates the online processing system  310 , through, in one embodiment, website  306  as discussed in more detail below. The OPS  310  is connected to PP  112  and PP  116  as discussed in more detail below. 
     Paired Card Accounts 
     In another embodiment, referring to  FIG. 1 , two anonymous card accounts are issued to an anonymous customer, generally the depositor, but the recipient can also obtain the card accounts. The anonymous card accounts are generally issued in same manner as the paired bank accounts above. One card is for deposits only, referred to as anonymous deposit card  97  (“ADC  97 ”) which is generally issued in a domestic currency. The second card, anonymous withdraw card  95  (“AWC  95 ”) is a prepaid credit/debit card generally issued in a foreign currency. The AWC  95  can also be issued in a domestic currency. In one aspect, ADC  97  and AWC  95  have account IDs capable of being recognized by payment processors and financial networks. In another aspect ADC  97  and AWC  95  have online account IDs enabling a customer to access the accounts via online or internet banking services. 
     The ADC  97  and AWC  95  are paired or linked which means that the accounts are in communication with each other, capable of electronically transferring funds from ADC  97  at a first location to AWC  95  at a second location. In one aspect, ADC  97  and AWC  95  have card ID(s) and personal identification number(s) (“PIN”s). Generally the two accounts are issued without requiring personal information from the customer. The ADC  97  and AWC  95  are issued active and ready for use. In one aspect, the ADC  97  has a funds transfer restriction such as on the amount of funds that can be transferred per week, i.e., $300 per week. Generally transfer restrictions are dictated by local government regulations. 
     Paired Account IDs 
     In another embodiment, as depicted in  FIG. 2 , a secure account  202  (“SA  202 ”) is issued to a customer by SL  110  in a similar manner as DBA  102  and WBA  106 . SA  202  has two account IDs which allow a single account to have deposit and withdraw capabilities. A first account ID is for deposits only, referred to as deposit account number  204  (“DAN  204 ”). A second account ID is for withdraw or payments, i.e. a debit account, checking account, or a prepaid credit account, referred to as withdraw account number  208  (“WAN  208 ”). The deposit account ID allows for deposits only. In one aspect, DAN  204  and WAN  208  have account IDs capable of being recognized by payment processors and financial networks. In another aspect DAN  204  and WAN  208  have online account IDs enabling a customer to access the accounts via online or internet banking services. 
     Cards 
     The embodiments contained in the description have cards used to provide access to the deposit and withdraw accounts. The cards are generally similar to a credit or debit card, having a unique serial number, a magnetizable strip or computer chip that stores information necessary to complete a financial transaction such as cardholder account information, issuer bank identification number, etc. The card could also be a computer device such as a cell phone or PDA. The card enables the cardholder to access the account and perform transactions via ATM, bank teller, Point Of Sell (“POS”) terminal and online interfaces. 
     Referring to  FIG. 1 , in one aspect, an access card  104 , (“AC  104 ”) is used to access DBA  102 . An access card  108  (“AC  108 ”) is used to access WBA  106 . Multiple access cards can be issued for each DBA  102 , or WBA  106 . Each card has a unique PIN and a card ID. 
     Still referring to  FIG. 1 , in a further aspect, ADC  97  and AWC  95  are deposit and withdraw accounts issued as cards. Because AC  104 , or ADC  97  is for deposits only the loss of the card and/or disclosure of related PIN does not allow fraudulent withdraw from the account. 
     In still another aspect, multiple AC  104  are distributed to a plurality of depositors each with a unique PIN and/or unique ID registered to one DBA  102 . For example a loan company can seek collection from a plurality of debtors who deposit funds to a single DBA  102 . The company via website  306  can recognize the depositor according to the ID/PIN used to deposit the funds and the debtors can use the deposit receipt as proof of payment. In another embodiment an employer with a plurality of employees is the depositor with a DBA  102  and a WBA  106 . Multiple AC  108 , each with a unique PIN and/or unique ID, are distributed to the employees. The employer can transfer funds from DBA  102  to WBA  106 . Each employee can use an AC  108  to pay for business expenses. 
     In still a further aspect, AC  108  and AWC  95  can be used at any ATM, vendor, retailer, etc, that accepts credit/debit cards. The AC  104  and ADC  97  can be used at any ATM and financial intuition that accepts deposit for other financial institutions. 
     Transactions of such accounts are communicated to one or more financial networks as discussed in more detail below. Thus deposits, withdraw and payments can be made at retail banks such as Royal Bank of Canada, Bank of America, etc. 
     Referring to  FIG. 2 , in a further embodiment, pertaining to SA  202 , a first account card is associated with DAN  204 , referred to as deposit account card  206  (“DAC  206 ”). A second account card is associated with the WAN  208  referred to as withdraw access card (“WAC  209 ”). Each access card has a unique PIN. The PIN of WAC  209  should remain confidential. The account IDs and PIN of DAC  206  and DAN  204  can be disclosed without concern of fraud since they are for deposits only. In one aspect, SA  202  can be accessed using DAN  204 , DAC  206 , WAC  208  or WAN  209 . In another aspect, multiple DAC  206 , or multiple WAN  209  can be issued for a single SA  202 —each card would have a unique ID and PIN. 
     Referring to  FIG. 1  and  FIG. 2 , in still a further aspect, WAN  208  and WBA  106  have checking account capabilities. A check book  212  or check book  120  can be issued for the WAN  208  and WBA  106  respectively. In this aspect, WAN  208  and WBA  106  function as checking accounts and have checking account IDs. In another aspect, DBA  104  and DAN  204  functions as checking accounts and have checking account IDs but only for the purposes of making deposits. 
     Method of Transfer and OPS 
     In a further aspect, referring to  FIG. 3 , to link or electronically process and transfer funds from a deposit account to a withdraw account, (i.e. DBA  102  to WBA  106 , and ADC  97  to AWC  95 ), an online processing system  310  (“OPS  310 ”) accesses one or more financial network via a payment processor. In one embodiment OPS  310  accesses financial network  314  and  312  via PP  112  and  116  respectively. The financial network can be for example, a debit network, a credit card network, ATM network, SWIFT network, an ACH network, EFT network, a wire transfer network, and etc. 
     Still referring to  FIG. 3 , typically DIB  114  is connected to a PP  112 , while FIB  118  is connected to a PP  116 . The OPS  310  is a system that processes various financial transactions on behalf of a SL  110 . The OPS  310  is not necessarily associated with any financial institution. To access the financial network the OPS  310  communicates with the PP  112  which in turn communicates with the financial networks  314  and  312 . 
     System Licensee, Reserve Account and Agent 
     Referring to  FIG. 3 , the SL  110  operates the OPS  310 . The SL  110  interfaces with the OPS  310  via a variety of communications links including phone, fax, email, website and computer. In one aspect, SL  110  has a website  306  (“Website  306 ”) which interfaces with the OPS  310 . Website  306  also allows a customer and/or agent to access and monitor the accounts. 
     The SL  110  has agreements with one or more issuer banks, such as DIB  114  and FIB  118 , to establish deposit and withdraw accounts as described above. SL  110  also has the capability to issue access cards that are associated with such accounts. In a further aspect SL  110  offers a website  306  to provide online banking services to its customers and/or agents. 
     Referring again to  FIG. 3 , SL  110  has agreements with DIB  114  and FIB  118  to establish reserve accounts associated with the deposit and withdraw accounts respectively. Generally funds in the deposit account are transferred to reserve account  324 . After any applicable foreign currency exchange conversion, the funds are then transferred to a reserve account  328 . In one aspect, the funds in the reserve account  328  is security for the line of credit extended to SL  110  by FIB  118  to cover payments made from the withdraw account. 
     Still referring to  FIG. 3 , in one aspect, on a daily basis or some other suitable time period, SL  110  exchanges currencies of the reserve account  324  via the FX broker  320 , who deposits the converted amount to the reserve account  328  to cover any credit limits established for the withdraw accounts. This aspect is discussed in more detail below. Authorized deductions from the withdraw accounts and related settlement request are charged against the reserve account  328 . 
     Typically an Agent  302  works for the SL  110 , an issuer bank (i.e. DIB  114 ), or is independent. Typically a customer meets with an Agent  302  at a retail location. Agents  302  activates SL  110  issued deposit and withdraw accounts by obtaining customer information and other information, such as compliance information, that may be required by the local government regulations and transfers such information to the OPS  310 , via a variety of communications links including phone, fax, email, website etc. 
     Customer information is not required for ADC  97  and AWC  95 . The seller of ADC  97  and AWC  95 , typically retail store or Agent  302 , generally has an agreement with SL  110  to sell the cards and is bound to any government restrictions. 
     Foreign Currency Exchange 
     Still referring to  FIG. 3 , in a further aspect when the transfer of funds occurs between two countries, i.e. DBA  102  in Canada and WBA  106  in Mexico, a foreign currency exchange is initiated. The SL  110  or a foreign exchange broker  320  (“FX broker  320 ”) provides the current exchange rate to the OPS  310 . The OPS  310  can also obtain the current exchange rate directly from the foreign currency exchange market  318  (“FX market  318 ”). The foreign currency exchange rate is determined by the FX market  318 . In another aspect, the SL  110  can set a formula for the profit margins to account for foreign currency exchange fluctuation risk. 
     Modular Components of the OPS System 
     In a further aspect, a system comprises an Online Processing System  310  (“OPS  310 ”) which is a software program with a plurality of components and modules as depicted in  FIG. 4 . In one embodiment, as depicted in  FIG. 7 , OPS  310  runs on a computer  700 . Computer  700  includes at least one processor  702  coupled to a bus  706  that couples together various system components. Bus  706  represents one or more of any of several types of bus structures, such as a memory bus or memory controller, a peripheral bus, and a processor or local bus using any of a variety of bus architectures. A random access memory (“RAM”)  704  and a read only memory (“ROM”)  706  are coupled to bus  706 . Additionally, a network interface  710  and a removable storage device  712 , such as a floppy disk or a CD-ROM, are coupled to bus  706 . Network interface  710  provides an interface to a data communication network such as a local area network (LAN) or a wide area network (WAN) for exchanging data with other computers and devices. A disk storage  714 , such as a hard disk, is coupled to bus  706  and provides for the non-volatile storage of data (e.g., computer-readable instructions, data structures, program modules and other data used by computer  700 ). Although computer  700  illustrates a removable storage  712  and a disk storage  714 , it will be appreciated that other types of computer-readable media which can store data that is accessible by a computer, such as magnetic cassettes, flash memory cards, digital video disks, and the like, may also be used in the exemplary computer. 
     Various peripheral interfaces  716  are coupled to bus  706  and provide an interface between the computer  700  and the individual peripheral devices. Exemplary peripheral devices include a display device  718 , a keyboard  720 , a mouse  722 , a modem  724 , and a printer  726 . Modem  724  can be used to access other computer systems and devices directly or by connecting to a data communication network such as the Internet. 
     A variety of program modules can be stored on the disk storage  714 , removable storage  712 , RAM  704 , or ROM  708 , including an operating system, one or more application programs, and other program modules and program data. A user can enter commands and other information into computer  700  using the keyboard  720 , mouse  722 , or other input devices (not shown). Other input devices may include a microphone, joystick, game pad, scanner, satellite dish, or the like. 
     Computer  700  may operate in a network environment using logical connections to other remote computers. The remote computers may be personal computers, servers, routers, or peer devices. In a networked environment, some or all of the program modules executed by computer  700  may be retrieved from another computing device coupled to the network. 
     Typically, the computer  700  is programmed using instructions stored at different times in the various computer-readable media of the computer. Programs and operating systems are often distributed, for example, on floppy disks or CD-ROMs. The programs are installed from the distribution media into a storage device within the computer  700 . When a program is executed, the program is at least partially loaded into the computer&#39;s primary electronic memory. As described herein, the invention includes these and other types of computer-readable media when the media contains instructions or programs for implementing the steps described below in conjunction with a processor. The invention also includes the computer itself when programmed according to the procedures and techniques described herein. 
     For purposes of illustration, programs and other executable program components are illustrated herein as discrete blocks, although it is understood that such programs and components reside at various times in different storage components of the computer, and are executed by the computer&#39;s processor. Alternatively, the systems and procedures described herein can be implemented in hardware or a combination of hardware, software, and/or firmware. For example, one or more application specific integrated circuits (ASICs) can be programmed to carry out the systems and procedures described herein. 
     Referring to  FIG. 4 , a communication interface  402  allows the OPS  310  to communicate with other computing systems, such as servers, client computers, and portable computing devices. In one embodiment, communication interface  402  is a network interface to a LAN, which is coupled to another data communication network, such as the Internet. 
     The OPS  310 &#39;s customer data  404  component stores customer information such as account and card information for both deposit accounts/cards and withdraw accounts/cards. The information includes the issuer/bank identification number (“IIN”) or (“BIN”), account ID, account currency depositor/recipient personal information, card IDs, online account ID and card PINs. 
     The OPS  310  stores agent data  406  such as personal information, bank account ID, fee schedule, commission schedule, etc. The OPS  310  has an account activation component  408  which receives information about a customer including personal information, purpose and type of transfer, various contractual obligations (terms and conditions), restrictions and compliance information as required by local regulations etc. This information is received by the Agent  302  and submitted to the OPS  310  via website  306  or directly by the customer via website  306 . 
     The OPS  310  has a verification component  410  which receives the transaction detail from the financial network via a payment processor regarding any activity of all accounts, i.e. DBA  102 , SA  202  and ADC  97 , and the associated or paired accounts. Verification component  410  determines the mechanism of deposit and when such funds are available for withdraw. The mechanism of deposit limits when funds are available for transfer, i.e. by ATM, check, cash/credit, live teller at a financial institution. If the mechanism of deposit is cash/credit via a live teller then verification component  410  routes that information for processing and an instruction setting a credit limit is dispatched to WBA  106  or WAC  95  immediately. In the case of a SA  202  transaction, the available funds in DAN  204  are transferred to WAN  208  immediately. In a further aspect, fees for processing may be deducted from the deposit accounts. 
     When the verification component  410  determines that the method of deposit is not a cash or credit deposit via a live teller, component  410  scans the deposit account such as DBA  102 , i.e., once a day, every hour or every one minute, until the funds are available for withdraw, if at all (i.e. a bad check). The verification component  410  checks the account activation component  408  for any transfer restrictions and other applicable limitations. Verification component  410  updates OPS  310  with the bank authorized deposit amount or cancels the transaction. 
     The OPS  310  has a foreign currency exchange component  412  which obtains and stores current foreign currency exchange rates for any applicable transaction, i.e. those involving transfers between two countries. 
     Referring to  FIG. 3  and  FIG. 4 , the OPS  310  has a reserve account component  414  which receives information from the verification component  410  regarding whether the deposited funds of DBA  102 , or ADC  97 , are available. The reserve account component  418  obtains the available funds and transfers it to the reserve account  324  maintained at DIB  114 . To perform the transfer funds from the deposited location, such as FI  320  to the reserve account  324 , the payment processor  112  (“PP  112 ”), in one embodiment, via an ACH network, settles the transaction. The reserve accounts 324 and 328 are “connected” via the FX broker  320  who converts the finds from reserve account  324  and deposits the converted amount to the reserve account  328  via payment processor  112  and  116 . The FX broker  320  process such currency conversion according to the instructions provided by SL  110  or OPS  310 . 
     When a recipient makes a payment (or withdraw finds) from the withdraw account maintained in FIB  118 , an authorization and settlement request is sent to the PP  116  from the financial institution that made a sale or provided funds (i.e. ATM, POS, Bank) to the recipient. Upon settlement, the payment processor  116  draws funds from the reserve account  328  to pay for any authorized withdraw related to the withdraw account located at the FIB  118 . 
     The OPS  310  has a blocking component  416  which prevents any withdraw or payment from the deposit accounts, i.e. DBA  102 , AC  104 , DAC  206 , DAN  204 , ADC  97 . The blocking component  416  can limit the accounts to deposits only through a variety of suitable means such as embedding the account with an over limit notice or an insufficient funds notice. The blocking can also be accomplished in conjunction with a financial network by designating the deposit account and/or card as a deposit only account through the assignment of a unique ID number. For example all deposit accounts can start with “00”. 
     The OPS  310  has a computational component  418  for calculating a variety of factors including: currency and price conversions, transaction charges, interest rates and commissions for Agent  302  and other transaction factors. The deposited amount in DBA  102  is passed through the computational component  418  which computes the amount to be credited to WBA  106 . The OPS  310  has a dispatch component  420  for routing and dispatching credit to the withdraw account, i.e. WBA  106  or AWC  95 . The OPS  310  has a transaction data component  422  which logs all transactions. The customer, Agent  302  or SL  110  can log onto website  306  and view a detailed log of any related transactions. 
     Example 1 
     Paired Bank Accounts 
     Referring to  FIG. 5 , a depositor  304  (“Depositor  304 ”), based in Canada, is issued a DBA  102  and WBA  106  by SL  110  via an Agent  302 . Depositor  304  sends recipient  306  (“Recipient  306 ”), based in Mexico, AC  206  via a deliver company. The PIN for AC  206  can be provided to Recipient  306  through a variety of suitable means such as phone, fax, email etc. Depositor  304  uses AC  104  to deposit a check at an ATM machine of financial institution  320  (“FI  320 ”). 
     FI  320  sends the transaction detail to the financial network  314  which transfers the transaction detail to a payment processor  112  connected to OPS  310 . Based on the deposit information, the verification component  410  of OPS  310  determines that the method of deposit is a check via an ATM machine. The verification component  410  proceeds to scan DBA  102  for funds availability (e.g. once a day) until the funds are available, if at all (i.e. bad check). Verification component  410  updates the system or cancels the transaction as applicable. 
     When the funds are available, the FX  412  component of OPS  310  contains the latest FX rates and conversion formula, and in one embodiment, is updated by SL  110 , and/or FX broker  320  and/or FX market system  318 . Based on such information the FX  414  component determines the current exchange rate between the DBA  102  currency and WBA  106  currency. In another aspect, the FX  414  component sends a request for currency exchange to the FX broker  320  automatically for each transaction. 
     The reserve account component  418 , based on information from verification component  410 , draws all available funds from DBA  102  and transfers the funds to a reserve account  324 . The computational component  420  applies any applicable foreign currency exchange rates, transactions charges, interest rates, commissions for Agent  302  etc, against the deposited amount. 
     The funds are now transferred from reserve account  324  to reserve account  328 . The FX broker  320  receives a first currency from reserve account  324  and deposits a second currency to reserve account  328 . The dispatch component  422  sends a credit instruction via PP  112  through PP  116  to WBA  106  setting a credit limit for WBA  106 . Recipient  306  using AC  206  makes a withdraw from financial institution  322  (“FI  322 ”). The financial network  312  (“FN  312 ”) recognizes the issuer bank and account ID of AC  206 , allowing FI  322  to dispense cash to the Recipient  306 . The funds are transferred from reserve account  328  to FI  322  responsive to an authorized payment request initiated by the recipient. 
     Example 2 
     Secure Account with Deposit Account ID and Withdraw Account ID 
     Referring to  FIG. 6 , Agent  302  on behalf of SL  110  issues a customer  601  a SA  202  similar to the issuing of accounts described in Example 1. Along with SA  202  customer  601  has a DAN  204 , WAN  208 , DAC  206 , WAC  209  and CB  112 . The DAC  206  has the PIN printed on the card, while WAC  209  has a confidential PIN known only to the customer  601 . 
     In this example customer  601  sells an item to a buyer  608  (payer) through an online auction site such as eBay. The customer  601  communicates to the buyer  608  the DAN  204 . Buyer  608  can pay customer  601  by using DAN  204  to make a deposit into SA  202 . In one embodiment, the buyer  608  contacts her bank  604  via the bank&#39;s online banking service  606 , and requests a transfer of funds from her bank account to the SA  202  of customer  601  using the DAN  204  to identify the bank account information of the customer  601 . 
     Bank  604  via its payment processor and the FN  314 , transfers the funds to the SA  202  of customer  601 , which is held at issuer bank  114 . The transaction is processed through PP  112  which is in communication with OPS  310  and SL  110 . The customer  601  logs onto website  306  to verify that the payment is deposited into SA  202 . Customer  601  sends the purchased product to the buyer  608 . Upon verification of the deposit, the OPS  310  sends a credit instruction to WAN  208  establishing a credit limit for withdraws. 
     To access the funds in SA  202 , customer  601  uses WAC  209  at ATM  602  to withdraw funds. ATM  602  which is connected to the financial network  314  recognizes the account issuer and account ID. The customer  601  enters in the PIN associated with WAC  209 . The PP  112  and OPS  310  recognizes the WAC  206  and its PIN. An authorization request is relayed to SA  202 . Since SA  202  has sufficient finds, the PP  112  approves the authorization request. The ATM  602  dispenses the funds to customer  601 . The funds are transferred from SA  202  to the financial institution maintaining ATM  602  (not shown) responsive to an authorized payment request initiated by the recipient. 
     Example 3 
     Deposit Card Account and Withdraw Card Account 
     A customer purchases ADC  97  and AWC  95  from a retail store authorized to sell the account cards. The cards have an account ID and PIN, and come activated and ready to use. The customer sends the AWC  95  to the recipient and deposits funds at an ATM using ADC  97 . As described in the two previous examples, the system and methods described herein transfers the funds from ADC  97  at a first location to AWC  95  at a second location. Upon verification of the deposit, the OPS  310  sends a credit instruction to AWC  95  establishing a credit limit for withdraws. The recipient can use AWC  95  to make purchases and withdraws as with a debit or prepaid credit card as with the above examples. 
     Because ADC  97  and AWC  95  are issued anonymously, certain government regulations apply. For example some countries limit the anonymous transfer of finds to $300 per week. In one aspect, transfers above the legal limit will result in cancellation of the cards. 
     CONCLUSION 
     Other variations, applications and ramifications of the present invention will occur to those skilled in the art upon reading this disclosure. Those are intended to be included within the scope of this invention, as defined in the appended claims. For example the OPS  310  can be modified to account for implementation of specific embodiments discussed herein. In one example, the system and methods of the disclosure are applicable for domestic to domestic (i.e., Canada to Canada) transfers as well. In this embodiment, OPS  310  can function without a foreign currency exchange rate component.