Customer-directed, automated system for transferring funds between accounts

Abstract

The invention relates to a system (20) and method for instantly transferring a sum of money to an account, so that the sum of money is credited to the recipient's account simultaneously with the sending, based on the customer's information, with the automatic access of the system. The system (20) calculates the cross exchange rate and fees with which the source account is debited, which data is displayed to the customer on the input terminal (22), whereupon the customer can confirm or cancel the transfer request. The system (20) allows the customer to enter the amount to be transferred in the currency of the source account or the recipient's account. The system (20) is also equipped with security measures to ensure that only authorized persons have access to the accounts and sums of money. The customer is immediately informed on the input terminal (22) about the successful completion of the transaction or the occurrence of an error.

Description

The invention relates to a system and method for transferring money between financial institutions or for electronic transfers. In particular, the invention relates to a system and method for performing such transfers securely and virtually instantaneously. In today’s shrinking world, moving money between countries or between accounts is becoming increasingly difficult. One existing process involves a person going to a financial institution and requesting that the money be transferred to another institution. This process is lengthy, often taking several days to two weeks. Furthermore, the requested transfer often does not go through as expected or intended. Even when the requested transfer does go through, sometimes the receiving institution mishandles the money. In particular, the wire transfer process causes inevitable delays in submission, transfer, authorization and execution by the recipient institution. For example, this process requires the requesting party to provide identification information, which is submitted and sent by the local financial institution so that it can be authorized and approved by the customer's home financial institution, thus creating a number of opportunities for error, which subsequently causes delays in the customer's request. In the event of an error, manual intervention and action are required. Transferring money between countries is particularly complicated. For example, such transfers are strictly regulated by different governments. Accordingly, any attempt to simplify transfers must comply with the regulations of the respective government. An additional difficulty in international money transfers is the use of different currencies. In particular, since the amounts transferred must be in a currency other than the currency of the country of the transferring financial institution, the requesting party must be aware of the applicable exchange rate, preferably before the transfer is made. This usually means that the customer must calculate the value of the corresponding foreign currency. Currently, most banks use an ATM (Automated Teller Machine) network to facilitate money transfers between accounts for customers. This system allows customers to perform such transactions immediately (there is no delay in payment). Some systems use ATM networks that allow customers in one country to access their accounts in another country. However, these systems are not suitable for transferring money from an account in one country to an account in a second country in the traditional way. There is therefore a need to develop a more suitable and reliable system and procedure that will enable customers to transfer money across borders and in different currencies. More specifically, a system is needed that will allow customers to transfer money to another current account in a convenient and reliable manner. In this regard, it is also necessary that these transactions can be carried out in a customer-friendly and easy-to-understand manner. The invention aims to provide a system that overcomes the above shortcomings, whereby money can be transferred instantly to a current account in the same or another bank via a terminal such as an ATM, from home, via a telephone line, a personal computer, a conventional telephone or the like. The system according to the invention enables money to be transferred to a current account based on customer information that is automatically accessed by the system instead of being manually entered. The system also automatically calculates the appropriate exchange rate and any fees that may be charged to the current account, and displays these to the customer so that the customer can confirm or cancel the transaction. The system evaluates the transfer data to ensure that the transfer complies with the regulations of the respective governments.The system also allows the customer to enter the amount to be transferred either in the currency of the original country or in the currency of the receiving current account, thus maximizing the flexibility of the system. Furthermore, the system was designed so that it can be understood and used by people who do not have special computer, transfer or other similar knowledge. In addition, the system is equipped with various protections to ensure that only authorized persons have access to current accounts and funds. In the figures, the Figure 1 is a block diagram of the system according to the invention, Figure 2 illustrates the function of the various elements of the system of Figure 1 in the method according to the invention, Figure 3 is a block diagram of the parts of a customer-operated terminal, the Figure 4 is an overview of the architecture of a client-operated terminal software, Figure 5 is a more detailed block diagram of the structure of a client-operated terminal software, the Figure 6 is a flow chart of the main process according to an embodiment of the invention, Figure 7 is a flow chart of the “select recipient institution” subroutine according to an embodiment of the invention, Figure 8 is a flow chart of a subroutine "request recipient name" according to an embodiment of the invention, Figure 9 is a flow chart of the "request recipient account number" subroutine according to an embodiment of the invention, HU 221 354 Bl Figure 10 is a flow chart of the “request currency and amount to be transferred” subroutine according to an embodiment of the invention, Figure 11 is a flow chart of a "request message" subroutine according to an embodiment of the invention, Figure 12 is a flow chart of the "FX / Fee Repeat and Confirm" subroutine according to an embodiment of the invention, Figures 13-1 and 13-2 are flow charts of a "message response check" subroutine according to an embodiment of the invention, Figure 14 is a flowchart of the "FX / Fee Error Handling" subroutine according to an embodiment of the invention, Figure 15 is a block diagram of a regional transfer system according to an embodiment of the invention. Figure 1 is a schematic diagram of a system 20 according to the invention. Transfer transactions begin with a sequence of operations between a customer and an input computer terminal 22, which computer terminal 22 may be a home banking telephone, a personal computer (PC) or an ATM. In a preferred embodiment, this dialogue is conducted by a series of messages that are displayed to the customer and a number of responses and requests that the customer must enter via some input device, such as a telephone keypad, a computer keyboard or a touch screen. The input terminal exchanges electronic messages with a front-end computer (FEP) 24. In this example, the source-end, or local FEP, is connected to a source-end banking system 26 and is connected to a remote FEP 30 via a switched network 28. As can be seen, the remote FEP 30 is connected to a destination banking system 32. Accordingly, a number of FEPs and the switched network together form an ATM network, which are accessible through various types of input terminals, including ATM checking accounts. Each element of this network includes a suitable processing device, including a central processing unit (CPU) and associated memory. For example, in the preferred embodiment, computer systems offered by STRATUS® are used. According to the system shown in Figure 1 and the procedure described below, it is possible to request a transfer of funds from a source banking system to a second banking system supported by the system within a specific area. The procedure for performing such an operation is essentially reviewed in connection with Figure 2. Figure 2 illustrates the nineteen-step process of the elements of the system of Figure 1. In Figure 2, each step is represented by a row, and each element of the system is assigned to a column. The elements of the system that operate during the corresponding step are marked with a shaded cell. In step 1, after the customer has successfully passed through various display operations, for example, after having correctly entered a predetermined personal identification number (PIN), an application menu is displayed on the input terminal 22. Based on this display, the customer is enabled to select a transfer operation according to the invention. Upon selecting this option, in step 2, the terminal requests a list of available recipient companies from the local FEP. In step 3, the list of recipient companies received from the local FEP 24 is displayed on the input terminal 22. At this point, the customer selects a recipient company from the list. This is preferably done by the customer selecting the recipient company from a list. If the selected recipient company is correct, a displayed text informs which part of the account number is required and prompts the customer to enter the account number of the destination account. In step 4, terminal 22 sends an account validity challenge to local FEP 24 to determine whether the account number provided by the customer corresponds to a valid account. In step 5, local FEP 24 forwards this challenge to the connected network. Based on the recipient company selected by the customer, the network forwards the request to the appropriate remote FEP 30 in step 6. At this point, remote FEP 30 determines whether the requested account number is valid and responds by providing the currency corresponding to the recipient account. Alternatively, remote FEP 30 may indicate with an error code that the requested account was not found or that it cannot accept the amount to be sent. Based on the origin information embedded in the message, the connected network sends the response back to local FEP 24 in step 7. In step 8, the local FEP 24 sends the response back to the client terminal 22 and displays it. In step 9, the response returned from the remote FEP 30 is displayed to the customer. In the event that the displayed response indicates an error in the procedure, the error is displayed to the customer and the transaction is completed. Otherwise, the customer is prompted to select a source account for the transfer. In the event that the source currency and the recipient current account currency are different, the customer is prompted to select a currency for the transfer amount. The customer is also prompted to enter the amount to be transferred. The customer is also prompted to enter a message to accompany the transfer. The terminal 22 then repeats the information entered by the customer and prompts the customer to confirm the accuracy of the repeated details. In the event that the customer indicates that the requested transfer details are not accurate, the transaction is completed and a completion message is displayed on the screen. In step 10, the terminal 22 sends a message requesting the local FEP 24 for the fees and the destination exchange rate information. In step 11, the local FEP 24 forwards the request to the connected network. The connected network returns the exchange rate for the currency in question, or an error code if either the source currency or the destination currency is not supported by the system. Preferably, a predetermined value is returned if the source and destination currencies are the same. HU 221 354 Bl At step 12, if the response from the connected network is not an error code, the local FEP 24 calculates the transaction fee and checks whether the amount to be transferred is within the allowed financial limits. The local FEP 24 then returns the conversion information and the fee information (or an appropriate error code) to the terminal. At step 13, if the response from the remote FEP 30 was an error response, this is displayed to the customer and the transaction is completed. Otherwise, the terminal displays the fee and the conversion rate and the appropriate currency. The customer is then prompted to confirm whether he wishes to transfer. If the customer chooses not to transfer, the transaction is completed and this is displayed to the customer on the screen. If the customer confirms the request, then in step 14 a request is sent to the local FEP 24 to execute the transfer. The local FEP 24 checks whether there is sufficient funds in the source current account and whether there are no obstacles to the transfer of this amount of money. If this check gives an incorrect result, the local FEP 24 sends an error code back to the terminal, which then displays the appropriate error message and completes the transaction. If the check is successful, then in step 15 the local FEP 24 debits the source account and sends an execution request to the connected network. The connected network 28 then checks whether the exchange rate is still valid. In the opposite case, if the exchange rate is no longer valid, the connected network 28 sends an error code back to the local FEP 24 at the terminal to cancel the transaction. In step 16, if the above conditions are met, the connected network 28 forwards the request to the remote FEP 30. The remote FEP 30 then credits the beneficiary's account with the transferred amount. If this credit is successful, the remote FEP 30 returns a completion code to the connected network. Otherwise, it returns an error code. Upon receiving the successful completion code in step 17, the connected network 28 initiates the transfer between the two institutions by posting the appropriate items to the accounts in their main institution and then sending a completion code to the local FEP 24. Otherwise, the connected network 28 returns some error code, which comes from the remote FEP 30. In step 18, if an error code is received from the local FEP 24, it resets the imposed charge and returns the error code to the terminal 22. Otherwise, it returns the received completion code. In step 19, the terminal 22 displays a message to the customer indicating whether the transaction was successful or unsuccessful. The input terminal 22 shown in FIG. 1 may include any of a variety of devices. In a preferred embodiment of the invention, a specially designed ATM is contemplated. This type of ATM is referred to hereinafter as a customer-operated terminal 40 CAT. Unlike many other ATMs, the primary or exclusive function of which is to dispense cash, CATs 40 provide a wide range of banking functions. These basic operations include cash withdrawals, deposits, and deposits, as well as transfers between accounts, balance inquiries, transaction retrievals, and traveler's checks. As shown in FIG. 3, the structure of a CAT 40 is substantially the same as that of conventional ATMs that perform these functions.The standard devices include a magnetic card reader 48 for reading the information encoded on the customer's card, a deposit unit 52 for accepting deposits and deposit envelopes, a cash dispenser 44, and a printer (not shown). The internal units include a processor 42 and a communication device 50 for exchanging data with an input system 54. The processor 42 is provided with memory that enables the CAT to perform the functions described below. The 40 CAT incorporates several advanced features over traditional ATMs. For example, the primary customer interface is a dynamic 46-inch touch screen that uses color graphics. This interface is more versatile than many other ATMs in that it can be reconfigured more easily. This allows the 40 CAT to more easily accommodate newly developed operations. In addition, it is an interactive display where buttons and keys can be replaced with images of standard three-dimensional objects. According to the invention, the CAT 40 is used to perform a number of operations. The various software installed in the CAT 40 is shown in FIG. 4 . The block diagram shown in Figure 4 shows an overview of the structure of the software 60 used in the CAT 40 according to the invention. In this example, the structure of the software shown is stored in the CAT 40 itself. In the event that an update of this software becomes necessary, this can be done via an associated FEP, by updating a reconfigurable table stored in the memory of the CAT 40. This solution allows for the use of a substantially standard interface on all terminals worldwide, while allowing the CATs 40 in individual countries to be conventionally installed to ensure compliance with various regulatory requirements. As shown in Figure 4, the software structure of the CAT 40 is represented by levels, which are indicated in the drawing by “Level I”, “Level II”, and a CAT 40 operating system, CRS 72. The CRS 72 basically serves as the operating system of the CAT 40. This system is the operating system for the above-mentioned devices in the CAT 40. For example, this system operates a card reader, a dispenser, a printer and a touch screen. It also handles messages from the CAT 40 to the FEP and responses from the FEP to the CAT 40. The operation of the CRS 72 is conventional. HU 221 354 Β1 is launched in a specific way in order to perform the other functions described here. Once the CRS 72 is operational, the CAT 40 should be ready to engage in a conversation with the customer. The initial steps in an on-line process are controlled by level 1, as indicated by block 62 in FIG. 4. In this example, level 621 begins when the customer inserts his card into the CAT 40. At this point, level 621 checks the validity of the card and identifies any customer accounts associated with the card. This is typically done by interpreting the information read from the magnetic stripe on the card by the card reader. For example, level 621 interprets data representing the financial institution that issued the card. The CAT 40 then examines a table to determine how to handle the account associated with the card received from that institution.The CAT 40 then runs an authenticity check program, prompting the customer to enter their PIN number, which is compared with the customer identification record received with the card along with the customer's account number. When the identification and authenticity check is complete, the various application levels II indicated under level 621 begin. These include an international application 64, an accounting application 66, a regional application 68, and local area network applications 70. In this example, the international applications 64 shown in Figure 4 include transactions that extend beyond a specific geographic area to which transfers can be made in accordance with the invention. For example, if the system is configured to allow transfers between specific European countries, and the level 62 I determines that the customer requesting the transaction is from Brazil, then the transactions available to the customer will be processed using the international applications 64. Accounting applications 66 include specific operations that grant authorization to persons holding a card containing a special code. For example, from the inserted specially coded card, level I determines that various administrative operations become available, such as the formation of a balance of the amount of money remaining in the 40 CAT at the end of the day against the transactions handled by the 40 CAT. In this example, the regional application 68 is a software in which the system of the invention is implemented according to the geographical area. The communication system that enables data transmission between the elements described in Figure 1 may form part of the regional application 68. The 68 area application serves many functions. For example, it determines the language of the on-line dialogue with the customer. More specifically, it allows the dialogue to be conducted in a selected language that corresponds to the origin of the customer's card. For example, if the customer is from France and uses a 40 CAT in Germany, the 68 area application, which is run by a German 40 CAT, will run the on-line dialogue in French, as determined by Level I when identifying the customer's card, that the card originates from a French financial institution. The 68 field application allows the customer to perform operations on other systems that are outside the scope of the 40 CAT operations used by the customer. These higher level operations are “Level 3”. For example, this allows the above The procedure described in connection with Figure 2 allows the transfer of funds from a bank account in a first country to a bank account in a second country. The local network applications 70 handle transactions for identified cards issued by a bank institution within its local network. For example, in the United States, networks such as the CIRRUS® network allow individuals to perform specified transactions from terminals of affiliated institutions. These applications are implemented in accordance with the state of the art. Generally, cards that can access transactions through the local network applications 70 cannot access transactions that can be accessed through other Level II applications. Figure 5 shows the architecture of the software 75 described in connection with Figure 4 in more detail. Below the “Level 1” cube 60 is a “Level 2” cube 76. This represents the code that applies to all CATs within a given geographic area. Within the area 95 enclosed by the dashed line, the “Level III” applications within this code are: 78 withdrawal requests, 88 balance inquiries and transaction listings (TJ), 80 local transfer requests, 90 deposit requests, 82 PIN change and control reorder requests, 84 requests that allow external transfers, standing orders, and direct withdrawals, 94 requests for mutual fund purchases and sales, 86 Inter-Citi transfer requests. The withdrawal request 78 handles cash withdrawals in the CAT. The balance inquiry and TJ request 88 allows the customer to determine current balances and past transactions. The local transfer request 80 allows transfers between consolidated accounts within a single banking institution, such as between a checking account and a savings or money market account. The Change PIN and Reorder Check request 82 allows a customer to change their PIN and reorder their check details. The Save and List request 92 allows the customer to obtain information on, for example, the latest transaction and interest details for the relevant specified savings account. 84 External transfers, standing orders and direct debit requests perform several different operations that together form a payment system. This allows a customer to transfer funds from their account, for example to settle bills. This allows for one-off payments, HU 221 354 BI or executes recurring payments by standing order. It also handles direct debits to the customer's account, for example for sales transactions. Requests for mutual sending and receiving of funds 94 are described in more detail in co-pending U.S. Patent Application Serial No. 0.8 / 483,710. Regional transfer applications are described in more detail below. The above-described client-system interface is described in more detail below with reference to Figures 6-14. This method is particularly well suited for use in the aforementioned CAT system 40. It will be apparent to those skilled in the art that a variety of other terminals are available for the method described below, including personal computers and home bank telephones. As mentioned above, the flowcharts in Figures 6-12 primarily serve the purpose of the interaction between the terminal and the client. For example, the rectangular units represent discrete operations performed by the CAT (e.g., displaying a particular screen) and the diamond units represent decisions made by the CAT. The hexagonal units represent messages exchanged by the CAT with the rest of the system (e.g., a remote computer). The messages contain data elements that enable the procedure described below to be performed. Figure 6 is a flow chart of the method according to the invention. To start this method, the customer must enter his personal identification number (PIN) and indicate to the system that he wants to make a transfer transaction (step 200). In step 202, the system checks the authenticity of the PIN entered by the customer in a manner known per se. At this point, the system receives information related to the customer's card, for example, how many accounts the card can access. Assuming that the correct PIN has been entered, in step 204 the system checks whether the accounts associated with the customer's card are available for the transfer transaction in accordance with the invention. For example, the system checks a table stored in memory indicating the different types of accounts that are authorized for such transfer transactions. Authorized accounts may include a checking account, a related credit card account, or other accounts provided by the customer's financial institution. In the event that the customer's card does not have an account associated with it that is available for the transfer transaction, a message is displayed in step 206 stating that the transfer cannot be made with the customer's card, and in step 208 the customer is offered the option of making another transaction. Assuming that a valid account is available, in step 210 the FEP associated with the CAT 40 (i.e. the local FEP) attempts to determine the system status. In the event that this external system sends a message indicating that transactions are available to it, the process continues. The customer is then asked in step 212 whether he wishes to transfer money from one account to an external account in a country other than his home country current account. For example, if the customer's account is in Greece and he wishes to transfer money to another country, which is the United Kingdom, the customer should indicate that he wishes to make a foreign transfer. If he does not wish to make a foreign transfer, the CAT automatically sets the destination institution in step 214a. In the event that the customer has indicated a foreign transfer, a routine is initiated in step 214 to select the recipient institution. This routine is described in connection with Figure 7. As shown in Figure 7, the system determines which recipient institutions are available or authorized. At this point, an electronic message is sent to the CAT associated with the FEP (step 302), and the CAT waits for a response, as shown in step 304. Specifically, the CAT waits for a response called an “action code” (AC). The response is checked by the CAT in step 306. If the AC is non-zero, an error message is displayed to the customer in step 308. For example, the CAT may display a message stating “unfortunately, I cannot help you.” In the case where the value of AC is zero (meaning that no error occurred), the CAT receives a list of possible recipients. Since it is not known how many recipients are available, an index flag is used to track the number of responses as illustrated in step 310. Namely, an index flag is set to a non-zero value until no more responses are received. In the case where the number of recipients is greater than a predetermined number, for example fifty, a first batch is saved and the process is repeated in step 310 until the index flag reaches a value of zero. In step 312, the system determines whether the appropriate identification number of the available recipient institutions has been returned. If not, a message is displayed to the customer in step 314, indicating that this operation is not available. In step 316, a standard options screen is displayed and the customer is asked if he wishes to perform another transaction. On the other hand, if the identification number of the institution is returned, a comparison procedure is performed in step 318. The CAT then compares the list of companies, which is stored locally in a table, with all the messages it has previously received from the remote computer. If the two lists are identical, the CAT displays the list saved locally. If the messages and the locally saved table are not identical, this means that the remote unit has updated information that was not previously available to the CAT. In this case, the updated list is displayed to the client. For example, in step 320, the CAT would sequentially display different images, each showing a specific number of receiving institutions. For example, each screen could be limited to four banks at a time. HU 221 354 Β1 time display. The customer then has the option to scroll back or forward until the desired recipient bank is displayed. Since each image is displayed, the customer has the option to select one of the 5 displayed banks or to indicate that a different bank is required that is available for the transfer transaction. In the event that a different bank is required, the customer is prompted in step 322 to contact an agent. For example, the following image may be displayed in accordance with steps 322 and 326 of Figure 7. Sorry, I can't transfer money to any other company yet. For further assistance, please visit one of our branches or call xxxxxxxxxxxx. Can I help you with anything else? YES NO EXIT In the event that the customer wishes to select a company from the list, the procedure continues according to step 216 of Figure 6, which corresponds to the "please provide the recipient's name" subroutine shown in Figure 8. In Figure 8, the CAT prompts the customer to enter the recipient name via the screen. The customer 30 preferably uses a graphical alphanumeric keyboard displayed on the CAT's touch screen. For example, a screen is displayed as shown below, in which the data element "recip_name_25" corresponds to the entered recipient name, which is received by the CAT: If the customer entered nothing or only blank space characters, the following image will appear: Sorry, I need the recipient's name to complete the transfer. Would you like to try again? YES NO EXIT HU 221 354 Bl At this point, the customer has the option to try again or cancel the transaction. In the event that the transaction is canceled, the CAT indicates that the transfer has been canceled and asks the customer to indicate whether they would like another service. For example, such an image could be as follows: OK. I don't want this transfer. Can I help you with something else? YES NO EXIT If the customer enters a name on the first or subsequent attempt, the process continues with step 218 shown in Figure 6. This step corresponds to the "recipient account number please" subroutine described in connection with Figure 9. In Figure 9, the system examines a table to determine whether the recipient account number format matches that of the country in which the requested recipient is located. For example, several countries have different possible formats, while others may not specify a specific format. After examining the table, in step 502, the CAT determines whether it is possible to display a desired format to the customer so that the customer can complete the transaction. In this case, the process continues in step 504, otherwise it continues in step 510. In step 504, an informational image is displayed that shows the exact form of the account number information that is requested from the customer. After viewing the image, the customer is available to complete the transfer process or complete the transfer request. In the event that the transfer is completed by the customer, a confirmation message is displayed to the customer in step 506 and the customer is allowed to request another transaction in step 508. For example, the following image may be displayed: OK. I don't want this transfer. Can I help you with something else? YES NO EXIT If no special format is required, or if the customer indicates in step 504 that they wish to continue with the process, the CAT requests the recipient's account number in step 510. For example, the CAT may display the following image: HU 221 354 Bl Please enter the account number of the recipient_name_25, then ENTER In addition, a graphical keyboard is preferably displayed, as described above, on which the requested information can be entered accordingly. The entered information is included as the data element "recip_name_25". In step 512, the system checks whether the account number entered by the customer is a valid account number. A message containing the account number (or dst acct_no data element) entered by the customer is sent from the CAT to the input part and to the remote FEP. This message requests verification and verification of the authenticity of the account number entered by the customer. The CAT then waits for a response to this request in step 514. The customer is preferably presented with a screen indicating that the CAT is “waiting for a response.” In step 516, the CAT checks the response. Similar to the procedure described above15, the CAT checks this step with the action code (AC). In the event that the action code is any non-zero value, the procedure continues as shown in connection A. As shown in Figure 9 at connector A, the system returns the specified value of the promotion code (AC). For example, if a promotion code equals 64, this indicates that the account entered by the customer is a blocked account. Alternatively, the promotion code equals 68, which indicates that it is an invalid account. Whether a blocked or invalid account is displayed in step 518, an image is displayed indicating that the system cannot transfer funds to the specified account. For example, the following image is displayed to the customer: Sorry, I cannot transfer to the recipient's current account. Please visit one of our branches or call the bank's clerk. Can I help you with anything else? YES NO EXIT In case the promotion code is some other value other than 50 zeros, then in step 520 the system sends a standard error message to the customer, depending on the promotion code that came for the CAT. In the event that a zero value promotion code is received in step 516, this indicates that the recipient company is accessible and the customer has entered a valid recipient account number. In step 518, the CAT examines the electronic message received from the FEP to ensure that it contains a valid currency code. The currency code information allows the system to subsequently perform a foreign currency conversion. If it recognizes that there is no currency code, the transaction is then completed in step 522, after an appropriate error message is displayed in step 520. If the currency code has been identified, the system returns to the main procedure, as shown in step 220 of FIG. 6. In step 220 shown in Figure 6, the system prompts the customer to enter the source current account from which the money is to be transferred. The available HU 221 354 Bl invoices are displayed based on the display of invoice information previously received from an external entity, for example, as described in U.S. Patent Application Serial No. 0.8 / 483,710. In this way, the system automatically receives the information that would otherwise have to be entered manually. Once this information has been entered, the system starts a "receipt from source account" subroutine in step 222 and a "currency amount to be transferred" subroutine in step 224. These subroutines are described in connection with Figure 10. As shown in Figure 10, the system determines in step 602 whether the requested source and destination currencies are the same. If they are the same, the process continues in step 606. In the event that the source and destination currencies are not the same, for example, the transfer is to be made from an account in a first currency to an account in a second currency, the process continues in step 604. In step 604, the CAT prompts the customer to indicate the type of currency that he wishes to use in determining the amount requested to be transferred. For example, if the customer wishes to transfer an amount of money from an English account (in British pounds) to a French account (in French francs), the customer may indicate which currency he chooses to specify the amount to be sent.For example, the following image may be displayed to the customer, where the data elements currdescl and curr_desc2 correspond to the textual description of the respective currencies used for the source and destination invoices:. How would you like to specify the amount to be sent? Payable to recipient curr desc in 1 The amount to be withdrawn from my checking account in curr desc2 EXIT When the customer has already indicated the currency to be used, or they are the same, then in step 606 a transaction code is generated, either corresponding to the common currency or appropriately set in the currency selected by the customer in step 604. The process continues in step 60830 and the CAT requests the amount to be transferred. For example, the image below may appear. Please enter the amount to be transferred and press ENTER. To cancel, press CLEAR. Not shown in the table, this image preferably includes a numeric keypad that includes an “Enter” and a “Delete” key. This numeric screen preferably also includes a comma and decimal characters, which corresponds to the format commonly used in the transfer currency. For example, if it is Belgian francs, a decimal point is usually not used. In step 610, the CAT interprets the entered amount and transfers it in a format that the system can interpret. The process then continues in step 224 of FIG. 6 . The main program shown in Figure 6 then continues by starting the “receive message” subroutine shown in Figure 6. This subroutine provides the customer with the option to send a message along with the transfer. For example, in step 652 the following image may be displayed: HU 221 354 Bl Do you want to attach a message to this transfer? YES NO EXIT In the event that the client indicates that it does not want to attach a message to the CAT, the main program continues to enter the message to be sent. For example, in step 228 of Figure 6 below. Otherwise, the procedure continues as follows: Please state your message, then ENTER trf msg ENTER SPACEBAR EXIT Not shown in the table, but preferably a graphical keyboard layout is displayed, with a layout corresponding to the language used. This allows the client to enter a message, which is stored in the CAT as a "trfmsg" data element. As shown in step 672 of FIG. 11, this method includes a “timeout” routine in which a message is displayed to the client after a specified period of time has elapsed if the client has not pressed a key during that time. For example, in step 676, a message is displayed asking the client if they wish to retry the message. If the client wishes to retry, the method begins again in step 658. If they do not wish to retry the message, the method simply continues in the main program of FIG. 6. If the client has already submitted the desired message, the main program continues at step 228 of Figure 6. This corresponds to the “FX / fee repeat and confirm” subroutine described in connection with Figure 12. As shown in Figure 12, the system repeats the information entered by the customer in step 702. If, at this point, the customer indicates that they no longer wish to proceed with the transaction, then in step 704 the system displays a message as described above indicating that the transfer will not take place and offers the customer the option to make another transaction in step 706. If the customer indicates that the information is correct and they wish to proceed with the transfer, then in step 708 the CAT responds to the drawings with the message “Request FX / Fee Information”. This message is passed to the remote computer via the FEP and the CAT displays a message in step 710 indicating that it is awaiting a response. The CAT then checks the response received from the FEP in step 712. It again checks for an action code (AC) to determine how to proceed. If a non-zero action code is returned, the procedure continues in step 714 of Figure 14. This procedure corresponds to the “FX / Fee Handling Errors” subroutine. As shown in Figure 14, the process continues depending on the value of the promotion code. For example, the promotion code at 604 corresponds to a transaction amount that is below a specified minimum amount. As a result, in step 750, the CAT determines whether the source currency is the same as the destination currency. If so, the process continues in step 758. Otherwise, the process continues in step 752. This determination ensures that the transactions involving the transfer are above the specified limit. In the event that the source currency and the destination currency are different, the system determines in step 752 whether a commission fee is applicable. This depends on the particular system of either the source country or the destination country. If no commission fee is applicable, the process continues in step 758. In the event that a commission fee is applicable, the process continues in step 754. If a commission fee is applicable, step 754 determines whether the transaction amount is in the source currency or the recipient currency. If the transaction is in the recipient currency, the process continues in step 758. Other11 As HU 221 354 Β1, the process continues in steps 756 and 757. For example, if someone in England requests a transfer in an amount specified in British pounds, and this transaction involves a fee, then a screen is displayed stating that the transaction is below a minimum fee. The following screen may then be displayed: As can be seen, this message contains several data elements including “comm_fee_s” which corresponds to the format of the commission fee along with the currency definition based on the source currency code, “src_eqv_amt_s” which corresponds to a source format amount based on the currency designation corresponding to the source currency code, and “limamts” which corresponds to a format limit amount based on the currency designation according to a limit currency code. In case the source currency was the same as the recipient currency, the system does not return a commission fee, or the transaction amount is in the recipient currency and the message “transfer amount below minimum no fee” is displayed in step 758. This message may be in the following format: I'm sorry, I can't do it. The minimum transferable amount is: lim_amt_s To arrange the transfer, please visit one of our branches or contact the bank's clerk. Can I help with anything else? YES NOT EXIT As you can see, this image contains the “lim amt s” data elements described above. In this case, a promotion code 605 indicates that the transaction amount is above a predetermined maximum amount. This results in a message, which is displayed in step 760, indicating that this limit cannot be exceeded. For example, the following image may be displayed by the CAT: HU 221 354 BI I'm sorry, I can't do it. The maximum transferable amount; lim_amt_s To arrange the transfer, please visit one of our branches or contact the bank's clerk. Can I help with anything else? YES NOT EXIT In this example, the promo code 606 indicates that an invalid currency was entered. As a result, the following message is displayed in step 762: "Sorry, I cannot transfer to the recipient you specified." This method of the invention also includes other additional restrictions. For example, in international transactions, a particular government may restrict the transfer of certain currencies. For example, the Greek government may restrict transfers in Greek drachmas. In such a case, a transaction involving two different currencies in step 764 may result in an error message such as the following: Sorry, I can't do this. This acct_desc39 is a restricted currency. Can I help you with something else? YES NO EXIT This message contains the data element “acct_desc39” which corresponds to the amount described in text, based on the type of source selected by the customer, such as checking account, savings account, etc. In this case, the customer also has the option to request a different transaction using the “yes”, “no” and “exit” buttons on the graphical display. Other promotional codes are handled in a similar manner by examining a table for standard errors, as illustrated in step 766. In Figure 12, at step 716, if a zero promotion code is returned from the system, the CAT determines whether a cross-currency transfer has been requested. In this regard, it is determined whether the source currency is the same as the destination currency. If they are the same, then there is no currency conversion transfer and the process continues at step 718. If a currency conversion transfer has been requested, the process continues at step 720. In step 718, the CAT determines whether the commission fee has been returned to the FEP. If not, the process continues in step 230 of the main program, Figure 6. If the commission fee has been returned, the foreign currency transaction fee summary is displayed in step 722 and the customer is prompted to indicate approval of the transaction. For example, the following information is displayed: HU 221 354 B1 I am ready to transfer txn_amt_s to recip_name_25 The fee for this transfer is comm_fee_s The amount to be deducted from your current account acct_desc: eqv_txn_amt Should I continue? YES NO EXIT As indicated above, this image displays information corresponding to the various data elements defined by the steps described above. For example, the data element “txn_amt_s” corresponds to the format of the transaction amount. The currency description of this data element is based on a transaction currency code that we have already recorded earlier in the process. The data element “recip_name_25” corresponds to the name of the displayed recipient that the customer entered. The data element “comm_fee_s” corresponds to the currency description format of the commission fee that the system receives based on the source currency code. The data element “acctdesc” represents the total amount deducted from the customer’s source checking account, including the amount transferred and any applicable fees. In the event that the customer approves the transaction, the process continues as shown in Figure 6.Otherwise, the CAT indicates that no transfer is taking place and offers the customer the option to make additional transactions, as shown in steps 704 and 706. In case a transfer involving a currency conversion was requested, in step 720 the CAT checks whether a commission fee has been charged. In case no, this means that the country of the transferee does not charge any fee for the transaction. In this case, in step 724 the system displays the transaction summary, either in the origination currency (step 726) or in the source currency (step 730). The destination currency summary (step 726) can be displayed in the following image: I am ready to transfer txn_amt_s to recip_name_25 Current exchange rate: fx_muit / fx_curr1 / fx_rate / fx__curr2 Amount to be deducted from your current account acct_desc6: eqv_txn_amt_s Continue? YES NO EXIT HU 221 354 B1 As indicated above, this image is the next data item- contains: Data name Description txnamts Amount to be transferred format with currency description according to the transaction currency code. recp_name_25 Display of the recipient name entered by the client. fxmult If the cross rate received from the system (step 708) is less than 0.1, then the value of fx_mult 10, 100 or 1000 is displayed so that fx mult multiplied by the cross rate is between 0.1 and 1, otherwise it displays 1. fx_currl If the flag (flag byte) value of the cross rate format received from the system (step 708) is 3, then it displays the currency sign of the recipient account. If this value is 4, then it displays the currency sign of the source account. fxrate Displays the product of the cross rate value received from the system (step 708) and the fx mult value above (this value is between "0.10000" and "99.999.00000"). The cross rate is ZZsZZZdZZZZ, where "s" is the thousands separator and "d" is the decimal point. By setting the decimal values ​​to zero, you exceed the number of decimal places available for the currency. For currencies that do not use decimals or the resulting cross rate is an integer, we do not display decimal values. fx_curr2 If the cross rate format flag (signal byte) value is 3, it displays the currency sign of the source account. If this value is 4, it displays the recipient's currency symbol. acctdesco Displays the text of the selected source invoice. eqv_txn_amt_s Generate an Equivalent Transaction Amount 20 with the currency symbol based on the Equivalent Transaction Currency Code received from the system (step 708). This Equivalent Transaction Amount is displayed in green. The summary of the source currency (step 730) can be displayed in the image below: I am ready to transfer txn_amt_s from your src_prod9 Current exchange rate: fx_mult / fx_curr1 / fx_rate / fx_curr2 Total amount to be paid to recip_name_ 25: dst_eqv_amt_s Continue? YES NO EXIT Data name Description txnamts Formation of Transaction Amount with the currency symbol based on the Transaction Currency Code. src_prod9 The selected source invoice text displays the sign. fx_mult If the cross rate received from the system (step 708) is less than 0.1, then the value of fx_mult 10, 100 or 1000 is displayed so that fxmult multiplied by the cross rate is between 0.1 and 1, otherwise it displays 1. fxcurrl If the cross exchange rate format flag (signal byte) value received from the system (step 708) is 3, it displays the currency sign of the recipient account 60. If this value is 4, it displays the currency sign of the source account. fxrate Displays the product of the cross rate value received from the system (step 708) and the fx mult value above (this value is between "0.10000" and "99.999.00000"). The cross rate is ZZsZZZdZZZZ, where "s" is the thousands separator and "d" is the decimal point. By setting the decimal values ​​to zero, you exceed the number of decimal places available for the currency. HU 221 354 BI For currencies that do not use decimals or the resulting cross rate is an integer, decimal values ​​are not displayed. 5 fx_curr2 If the cross rate format flag is 3, the currency sign of the source account is displayed. If this value is 4, it displays the symbol of the recipient's currency. recip_name_25 Displays the Recipient Name entered by the customer. dsteqvamts The Recipient Equivalent Transaction Amount, along with the currency symbol, formed based on the recipient currency code received from the system (step 708). If a commission fee is charged on the transaction, a summary is provided in either the recipient's currency or the source's currency. For example, the summary in the recipient's currency with the commission (step 734) can be displayed as follows: The data elements for the recipient currency and fee formation (step 738) are the same as described above, except for the following new elements: Data name Description src_eqv_amt_s Source Equivalent Transaction Amount formation together with the currency symbol in Source number35 from 4633 messages based on the exchange rate code. commfees Commission fee calculation based on the Source Rate Code from message 4633 along with the currency symbol. The source invoice with the fee summary (step 733) can be displayed in the following 40 ways: I am ready to transfer txn_amt_s from your src_prod9. After deducting the comm_fee_s fee, the remaining amount to be transferred is: src_eqv_amt_s At the current fx_mult / fx_curr1 / fx_rate / fx_curr2 exchange rate, the amount src_eqv_amt_s is equal to dst_eqv_amt_s. Should I continue? YES NOT EXIT HU 221 354 B1 The data elements of the source account are the same as described above, except for the following new elements: Data name Description dst_eav_amt_s Formation of the Recipient Equivalent Transaction Amount along with the currency symbol based on the exchange rate code of the recipient account from message 4633. Once the transaction summary has been displayed and approved by the customer, the process continues as follows: The main program continues in Figure 6. In case the customer does not approve, a message is displayed indicating that the transfer has been canceled and offering the customer the option to execute another transaction (steps 704, 706). Please note that a summary of the fee amount, displayed in either the source or destination currency, ensures that it complies with the requirements of the various regulations. This summary helps the customer understand, for example, how the conversion, the exchange rate and the applicable fees are calculated. The customer has the option to close the transaction at various points. As shown in Figure 6, the process continues in step 230. For additional security, the customer is prompted to re-enter their PIN. This ensures that the CAT is still operated by the same customer who initiated the transfer. If the PIN entered by the customer is correct, the process continues in step 232. In step 232, the CAT sends a message to both the source computer and the destination computer, which will perform the transfer. If the message has already been sent, the CAT checks for a response to this message in step 234, as illustrated in more detail in Figures 13-1 and 13-2. As shown in Figures 13-1 and 13-2, in step 802, the CAT displays a message to the customer indicating that it is awaiting a response from the FEP. The response is examined in step 804. In the event that the response returned from the FEP is a zero-valued promotion code, this indicates that the system has approved the transaction before executing it. At this point, if the zero-valued promotion code is returned, the system first checks to see if the requested data elements have been returned from the FEP in step 806. The CAT then determines whether all data is available in the correct format in step 808. If either the data elements are missing (step 810) or the data format is not found to be correct (step 812), then a code indicating the reason for this is set to an appropriate value and the process continues in step 850 (Figure 13-2). If both conditions are met, the process continues as shown in Figure 6. In step 850, a “transfer order cancellation” message is transmitted to the FEP. This allows the CAT to indicate to the computer system that an error has occurred and to cancel the requested transaction. In step 852, an application error message is displayed to the customer, the transaction is completed (step 854) and the customer receives their card back. This allows the CAT to perform an error evaluation procedure. If a non-zero action code is displayed in step 804 (Figure 13-1), different procedures may be initiated depending on its value. These values ​​correspond to different circumstances that prevent the transfer from being made as requested by the customer. The following are examples only of various error codes that may be detected in the preferred embodiment of the invention. For example, if the promotional code returned from the FEP is 51, the customer is required to re-enter their PIN in step 813. The response from the FEP is then examined again in step 804. In the case where the promotion code value is 71, in this example it means that there are not enough funds in the source account to cover the transfer. In such a case the system indicates that there are not enough funds to cover the transfer. For example the system displays the requested amount with or without the customer's account balance, first checking the system design for this in step 814 and then displaying the appropriate message either in step 816 or in step 818. In this example the following image can be displayed if the system is configured to display the customer's account balance (step 816): Sorry, I can't do it right now. You have bal_s available in your current account acct_desc9 and you would like to transfer txn_amt_s. Can I help with anything else? YES NOT EXIT HU 221 354 Bl This image displays the value of the data element “bals”, which corresponds to the available balance in the source account accessible by the customer. The text data elements for the account description are “acct_desc9” and the transaction summary “txnamts” are also displayed. If the system 5 is configured not to display the customer’s account balance, a similar message is displayed in step 818, but without the data element “bal s”. The customer has the option to initiate a new transaction. In this example, a promotion code of value 72 means that the customer has exceeded the daily limit. An appropriate message is displayed to the customer informing them of the circumstances. Depending on the elements returned in the response message in step 822, this display may include the current limit, the current limit amount, and the duration of the limit (step 820), or it may simply indicate that the limit amount has been exceeded (step 818). An example of the former is shown below: Sorry, I can't do it right now. This would exceed the lmt_amt_s limit of your acct_desc11 checking account lmt_period_txt Can I help with anything else? YES NOT EXIT As shown above, such an image contains the following data elements: an “lmt_amt_s” data element corresponding to the amount limit, an “lmt_period_txt” data element corresponding to the period of time over which the transfer restriction applies (for example, a day, a week, or a month), and an “acctdescll” data element corresponding to the text describing the customer’s account. A promotion code with a value of 73 indicates that the requested transfer would reduce the customer's account below a minimum level. For example, in many countries, legislation requires a minimum amount to be maintained in each account. This code indicates that the transfer would result in the account falling below the minimum amount. The customer will then be presented with an appropriate caption in step 826 indicating this error. A promo code of 130 indicates that the requested transfer would exceed the daily limit. For example, some countries limit the amount that can be transferred within a given period of time (such as a day or a week). This condition is shown in the example shown in step 832 as shown in the image below: I'm sorry, that would exceed the transferable amount limit. The remaining amount you can transfer is lim_period_txt lim_amt_rem_s. To transfer a larger amount or for more information, please contact one of our branches. Can I help with anything else? YES NOT EXIT HU 221 354 B1 In this message, a first data element lim_period_txt indicates the period. For example, the following text can be substituted: "today", "this week" or "this month". A second data element indicates the remaining amount that can be transferred without exceeding the predefined amount limit. In this example, the value of the promotion code 134 indicates that the customer is requesting a transfer from a blocked account. At this time, a message is displayed to the customer in step 830 indicating that the account is blocked and the customer has the option to initiate another transaction. In the case where the action code value is 137, this means that the customer has requested a transfer to an account that is the same as the source account. In this case, a message is displayed in step 832 indicating that the transaction cannot be executed and the customer has the option to initiate another transaction (step 868). As shown in Figure 13-2, an action code of 602 means that the balance in the source account was below the minimum amount at the time the transfer was requested. This prevents the customer from making the requested transfer. In the case where the action code is 601, this means that the amount requested to be transferred is less than the minimum deposit amount of the recipient account. In the case where the action code is 603, this means that if the transfer were to proceed, the balance in the recipient account would be too high. In each case, a message is displayed (step 834 or 836) indicating that the system cannot make the transfer for the recipient. An action code with the value 05 is particularly relevant for transactions related to Belgium. In Belgium, a special security device, called an SCM device, is required. The action code 05 indicates that a special type of SCM error has occurred. In this case, the CAT sets a parameter or a code in step 838 appropriately, or sends an authorization back to the system in step 850 indicating that an error has been detected. The customer's handling is then completed in step 854. In the case where the action code value is 04, this indicates that a communication failure has occurred. This means that the request was sent and after a specified period of time, no response has been received from the FEP. In such a case, an authorization revocation message is sent to the FEP in step 858 and an error message is displayed to the client in step 864. The transaction is then completed (step 854). In the case where the action code value is 29, this is again an example of a perceived difficulty with the SCM device. Specifically, while the action code value of 05 indicates that a failure occurred in the data transmission between the CAT and the computer, the action code 29 indicates the error that the computer did not send a response back to the CAT. In the latter case, a message is sent that cancels the transaction in step 862. Other promotional codes can be handled in a similar way (step 866). In the event that a zero value promo code is detected in step 804, the process continues in step 236 of Figure 6. As can be seen, a counter increment indicates that a transfer has been successfully completed. At this point, a CAT indicates that the transfer has been made and optionally displays the customer's account balance after the transfer (steps 238, 240, 242). In the event that the balance is displayed, the following image may be displayed: Okay, I transferred txn_amt_s. src_prod_3 / src_acct_no baljxt $rc_bal1 / src_bal1_txt from src_bal2 / src_ba!2_txt to recip_name_25 Can I help with anything else? YES NOT EXIT HU 221 354 Bl In this example, the following data elements are used: We have set: Data Name Description txn_amt_s Displays the Transaction Amount. src_prod3 Displays the text_a account description based on the selected Debit Type source account. src_acct_no Prints the Source Account Number only if there is more than one Debit Type spinning account. baltxt If more than one balance of the spinning account is displayed, “New Balances: ” is displayed, otherwise “New Balance: ” is displayed. srcball Creates a balance based on the currency code with the currency symbol in the source account, for the selected result class. src_ball_txt Displays the Screen Text based on the selected Balance Type and Result Class. src_bal2 Creates a balance based on the currency code with the currency symbol in the source account, for the selected result class. src_bal2_txt Displays the Screen Text based on the selected Balance Type and Result Class. recip_name_25 Displays the Recipient Name entered by the customer. As shown in Figure 6, the transfer process is complete. The customer may then initiate another transaction (step 244) in accordance with any known procedure. Figure 15 shows a system 125 for executing regional transfers in accordance with the procedure described above. In this example, a CAT 128 in France is connected to a French FEP 130, which in turn is connected to a French computer system 132 belonging to a French banking institution. In this example, a customer of the French CAT 128 can make a regional transfer via a communication network 134 as described above. This communication network 134 connects the French FEP 134 to various other FEPs within the same region, such as a German FEP 138, an English FEP 142, a Belgian FEP 146, a Spanish FEP 150, a Greek FEP 154, and a Luxembourg FEP 158 (140, 144, 148, 152, 156, 160). All of these FEPs are connected to a computer system belonging to the respective banking institution. As indicated by 136 in FIG. 15 , the communications system also allows access to other regional systems in order to perform limited international transactions, as described above in connection with FIG. 4 . According to the invention, this system allows a customer in France to make a transfer to an account in a financial institution in another country. For example, a French customer may request a regional transfer from a checking account number in a French bank, to which a French computer 132 is associated, to a Spanish computer 152 in a Spanish bank. The French CAT 128 performs the procedure described above in connection with Figures 6-14. In particular, after the identification and verification procedure described above has been completed, the customer selects the recipient institution and enters a Spanish recipient name and the account number of an account in Spain. In response to the request initiated by the French CAT, the communication system 134 returns to the French FEP 130 the cross exchange rate between the French franc and the Spanish peseta, as well as the fees that may be charged. This information is available in either francs or pesetas, at the customer's option.Once the customer has seen the exchange rate and approves the transaction, the customer can request that the transfer take place. At this point, a transfer request message is sent from the French CAT 128 to the French FEP 130. The French FEP 130 then communicates with the French computer 132 in order to debit the customer's French account. After debiting the French account, the French FEP 130 sends a message to the communications system that leads to the Spanish FEP 150. The Spanish FEP 150 receives the message and forwards it to the Spanish computer 152. The Spanish computer 152 then credits the recipient's account with the amount. In this example, the Spanish computer 152 sends a response to the Spanish FEP 150, which is routed via the communication system 134 to the French FEP 130. The French FEP 130 then sends a response to the French CAT 128. The French CAT 128 then checks this response in accordance with step 234 of FIG. 6 (described in more detail in connection with FIG. 13). The French CAT 128 then displays a final message indicating whether or not the transfer was successful. Following this procedure, the communications network automatically performs an accounting process between the French computer 132 and the Spanish computer 152 in accordance with the transaction described above and others that may have occurred. This accounting process takes place periodically, for example daily, in a manner known per se. Similarly, authorized personnel perform a daily closing process 126 to reconcile the transactions carried out between the French CAT 128 and the French computer 132 via the French FEP 130. In this example, the communications network 134 performs various operations. In addition to participating in the aforementioned accounting operation, it serves as a central communications means for exchanging electronic messages between the various FEPs. It maintains a database of valid exchange rates available to the FEPs. Based on the exchange rate provided by the communications network, the necessary calculations are performed at the input and at the computer system and the customer is informed of the charges to be charged and the debiting of the spinning account and the crediting of the recipient's account. HU 221 354 Bl Various preferred embodiments of the invention have been described in accordance with various means of the invention. It is understood that these embodiments are merely illustrative of the principles of the present invention. Many modifications and applications will be apparent to those skilled in the art without departing from the spirit and scope of the invention.

Claims

PATENT CLAIMS 1. A method for transferring funds over a communications network, characterized in that first data is received via an input terminal, the first data is matched to a source account record, the record is stored in a first external computer system, the record includes an indication of the type of currency maintained in the spinning database; second data is received from the input terminal, the second data indicates a recipient's current account and the authenticity of the recipient's current account is verified; third data is received via the input terminal, the third data corresponds to an amount requested to be transferred from the source account to the recipient account, the amount requested to be transferred is maintained in a format selected according to the type of currency in one of the source account and the recipient account; the total amount to be debited from the source account is calculated;display the total amount to be debited in the selected format and request authorization to execute the requested transfer; and upon receipt of the authorization to execute the requested transfer, send an electronic message regarding the crediting of the requested amount to the recipient's account; upon receipt of the authorization to execute the requested transfer, debit the source account with the total debit amount; 2. The method of claim 1, further comprising determining a fee for the requested transfer process, the fee comprising a fee charged by the first financial institution maintaining the source account and a second fee charged by the second financial institution maintaining the recipient account; and the total debit amount comprises the amount requested to be transferred and the amount due based on the first fee and the second fee.

3. The method of claim 1, wherein the input terminal comprises a card reader for reading encoded data corresponding to at least a portion of the first data.

4. The method of claim 3, characterized in that the identification code entered via the input terminal is received and the identification code is verified against the source account record.

5. The method of claim 1, wherein the first input terminal is an automated teller machine.

6. The method of claim 1, wherein if the currency of the source account differs from the currency of the recipient account, the method determines the value corresponding to the requested amount based on a substantially valid cross exchange rate between the currency of the source account and the currency of the recipient account.

7. The method of claim 1, characterized in that the currency symbol of the source account and the recipient account is displayed.

8. The method of claim 7, wherein the input terminal is an ATM, comprising a card reader for reading encoded data corresponding to at least a portion of the first data, the encoded data comprising a number identifying the financial institution issuing the card, and the currency of the source account is obtained from the encoded data based on a table stored at the financial institution.

9. The method of claim 1, wherein the input terminal is a personal computer.

10. The method of claim 1, wherein the input terminal is a home banking telephone.

11. A system for transferring funds, comprising an input terminal having an input device and a display device, a first external system in communication with the input terminal and serving a source account, and a second external system connected to the first external system via a communication network, the second external system serving a recipient account, characterized in that - the first input device receives first data and matches it with a source account record stored in the first external system, the record containing an indication of the type of currency maintained in the source database; receives second data from the input terminal, the second data indicating a recipient's checking account and verifies the authenticity of the recipient's checking account;- the input terminal receives third data, which third data corresponds to the amount requested to be transferred from the spinning account to the recipient account, the amount requested to be transferred being in a format selected according to the type of currency in one of the source account and the recipient account; calculates the total amount to be debited from the source account, then displays the total amount to be debited in the selected format and requests authorization to execute the requested transfer; and transmits an electronic message regarding the crediting of the requested amount to the recipient account, and the first external computer debits the spinning account with the total debit amount.; 12. The system of claim 11, characterized in that it determines the fee required for the requested transfer procedure, which fee includes a fee charged by the first financial institution maintaining the spinning account and a second fee charged by the second financial institution maintaining the recipient account, and the total debit amount includes the amount requested to be transferred and the amount due based on the first fee and the second fee. HU 221 354 Bl 13. The system of claim 11, wherein the input terminal comprises a card reader for reading encoded data corresponding to at least a portion of the first data.

14. The system of claim 13, wherein the input terminal receives an identification code and verifies the identification code against the source account record.

15. The system of claim 11, wherein the first input terminal is an automated teller machine.

16. The system of claim 11, characterized in that, in the event that the currency of the source account differs from the currency of the recipient account, the system determines the value corresponding to the requested amount based on a substantially valid cross exchange rate between the currency of the source account and the currency of the recipient account.

17. The system according to claim 11, characterized in that the display means displays the currency symbol of the source account and the recipient account.

18. The system of claim 17, wherein the input terminal is an ATM, comprising a card reader for reading encoded data corresponding to at least a portion of the first data, the encoded data comprising a number indicative of the financial institution issuing the card, and the currency of the source account is obtained from the encoded data based on a table stored at the financial institution.

19. The system of claim 11, wherein the input terminal is a personal computer.

20. The system of claim 11, wherein the input terminal is a home banking telephone.