Computerized Money Transfer System and Method

Abstract

A computerized money transfer system implements a money transfer service for transferring money from a sending entity to at least one receiving entity. A plurality of agent terminals operable by agents of the money transfer service are interconnected by a communications network. A money transfer control system is connected to the communications network for controlling the implementation of the money transfer service. The money transfer control system includes an agent account data store storing account data for each agent and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity.

Description

CROSS REFERENCE[0001]The present application is a continuation of U.S. patent application Ser. No. 09 / 978,849 filed on Oct. 15, 2001, which is incorporated herein in its entirety by reference.FIELD OF THE INVENTION[0002]The present invention relates to a computerized money transfer method and system.BACKGROUND OF THE INVENTION[0003]There are many services available for the transfer of money from a sender to a receiver. One method offered by money transfer companies requires a sender to enter an office of the company in order to request the sending of money to a receiver, e.g. overseas. One office local to the receiver is identified and the money is transferred to that office. When the money reaches the office, the receiver can go to the office and withdraw the money, e.g. as cash or a cheque. The problem with this system is that there is a considerable time delay between the ordering of the transfer of the money and the actual receipt of the money. This method does however have the ...

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