Patent ID: 8032435

Claim:
A method of making a validated money transfer, utilizing a sending financial institution, a receiving financial institution, and a validating agent unaffiliated with both said receiving financial institution and sending financial institution, comprising the steps of: (a) providing a database comprising validated transfer agreements, which database is administered by said validating agent, each agreement comprising: identity of said transfer agreement; identity of a sending person associated with said transfer agreement; identity a receiving person associated with said transfer agreement; identification of a first money transfer method via which money is provided from said sending person to said sending financial institution; identification of a second money transfer method via which money is received by said at least one receiving person from said receiving financial institution; (b) receiving a validation request at said validation agent, wherein said request contains transfer data specifying the identity of a transfer agreement, a first money holder, a second money holder, the identity of a sending person, and the identity of a receiving person; (c) executing a validation at said validation agent by comparing said transfer data with data of said transfer agreement comprised in said data base; (e) sending information from said validation agent to said sending financial institution specifying that a money transfer in accordance with the transfer data is valid; (g) transferring an amount of money from said sending person to said receiving person via said sending and receiving financial instituions and said first and second money transfer methods.