Patent ID: 8239319

Claim:
A computerized method for transferring money, the method comprising: receiving at a host computer system from a point of sale device transactional information that comprises information on a bank account that is to receive the money, wherein: the information on the bank account that is to receive the money comprises a transaction identifier of a length of digits and the transaction identifier comprises a bank account number of the bank account that is to receive the money; storing the transaction information at the host computer system; determining if the transaction identifier is a first length of digits, whereby the identifier is a complete transaction identifier if it is the first length of digits; determining if the transaction identifier is a second length of digits; if the transaction identifier is the second length of digits, creating the complete transaction identifier of the first length of digits using: the bank account number; a bank name identifier associated with the bank account; and a bank location number of the bank associated with the bank account, wherein the bank name identifier and the bank location number are determined based on information received from the point of sale device; transmitting at least the complete transaction identifier to an intermediary computer system that is configured to interact with a plurality of banking networks in different countries; determining with the intermediary computer system which one of the banking networks is associated with the bank account that is to receive the money; and transmitting a request from the intermediary computer network to a local banking network information on the bank account that is to receive the money and an amount of money to deposit.