US5884290A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method of transferring funds employing a three-node real-time electronic interlock
Assignee: Unisys Corp
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Filing: 1996-10-22
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Granted: 1999-03-16
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Expires: 2016-10-22
Abstract
Abstract A method of transferring funds electronically, is performed by a group of N computers X(1) thru X(N) which are intercoupled to each other, and to another computer Y, by a communication channel. Each computer of the group includes multiple customer accounts, and the computer Y includes a net account for each computer of the group. To initiate the transfer of funds between two customer accounts, a customer sends an input request to one of computers X(i) of the group; and this input request specifies that funds F(z) be transferred in a particular direction between a customer account A(r) in computer X(i) and a customer account A(s) in another computer X(j) of the group. For each input request that is received by computer X(i), a respective sequence of electronic control messages is sent on the communication channel among the computers X(i), X(j) and Y. By this sequence of control messages, computer X(i) tests the status of customer account A(r); computer X(j) tests the status of customer account A(s); and computer Y tests the status of the net accounts for computers X(i) and X(j). If all of the tests by the computers X(i) and x(j) are satisfied, then those computers both authorize computer Y to transfer the funds F(z) between the net accounts for computers X(i) and X(j); and if all of the tests by computer Y are satisfied, then computer Y authorizes the computers X(i) and X(j) to transfer the funds F(z) between the customer accounts A(r) and A(s). This authorization from all three computers eliminates the need to reverse a transfer of funds; and consequently, the transferred funds are available for withdrawal immediately after the sequence of messages is completed successfully.
Inventors
- 👤 Lev Smorodinsky
- 👤 Joseph Craig McSweeney
- 👤 James Walter Thompson
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-09 19:20
CPC Classifications
G; G06; G06Q; G06Q40/00; G06Q40/02; G06Q20/00; G06Q20/04; G06Q20/042; G06Q20/08; G06Q20/10; G06Q20/102; G06Q20/38; G06Q20/382; G06Q20/40; G06Q20/401; G06Q20/403
Claims Analysis
Total Claims: 26
Claim 1
Independent Claim
216 words
A method, for use with a group of N computers X(1) thru X(N) which are intercoupled to each other, and to another computer Y, by a communication channel; each computer of said group including multiple customer accounts, and said computer Y including a net account for each computer of said group; said method operating to exchange funds electronically among said customer accounts, and including the steps of: receiving electronic input requests in said computers X(1) thru X(N), with each input request that is received in computer X(i) specifying that funds F(z) be transferred in a particular direction between a customer account A(r) in computer X(i) and a customer account A(s) in computer X(j)--where indices i and j, r and s, and z respectively identify particular computers, accounts, and funds; sending on said communication channel, for each input request received by computer X(i), a respective sequence of electronic control messages by which computers X(i) and X(j) both authorize computer Y to transfer funds F(z) between the net accounts for computers X(i) and X(j), and subsequently, computer Y authorizes computers X(i) and X(j) to transfer funds F(z) between the customer accounts A(r) and A(s) respectively; and, transfering said funds F(z) in accounts A(r) and A(s) only after authorization from computer Y is received by computers X(i) and X(j).
Claim 2
Independent Claim
216 words
A method, for use with a group of N computers X(1) thru X(N) which are intercoupled to each other, and to another computer Y, by a communication channel; each computer of said group including multiple customer accounts, and said computer Y including a net account for each computer of said group; said method operating to exchange funds electronically among said customer accounts, and including the steps of: receiving electronic input requests in said computers X(1) thru X(N), with each input request that is received in computer X(i) specifying that funds F(z) be transferred in a particular direction between a customer account A(r) in computer X(i) and a customer account A(s) in computer X(j)--where indices i and j, r and s, and z respectively identify particular computers, accounts, and funds; sending on said communication channel, for each input request received by computer X(i), a respective sequence of electronic control messages by which computers X(i) and X(j) both authorize computer Y to transfer funds F(z) between the net accounts for computers X(i) and X(j), and subsequently, computer Y authorizes computers X(i) and X(j) to transfer funds F(z) between the customer accounts A(r) and A(s) respectively; and, transfering said funds F(z) in accounts A(r) and A(s) only after authorization from computer Y is received by computers X(i) and X(j).
Claim 3
Dependent Claim
67 words
A method according to claim 1 wherein each sequence of electronic control messages includes a first control message from computer X(i) to computer X(j) which requests that said funds F(z) be transferred in said particular direction between said accounts A(r) and A(s), and a second control message from computer X(j) to computer X(i) which indicates whether the requested funds transfer is accepted or rejected by computer X(j).
Claim 4
Dependent Claim
38 words
A method according to claim 2 wherein said second control message indicates that the requested funds transfer is rejected regardless of said particular direction if said account A(s) in computer X(j) has been closed or does not exist.
Claim 5
Dependent Claim
42 words
A method according to claim 2 wherein said second control message indicates that the requested funds transfer is rejected if said particular direction is from account A(s) in computer X(j) to account A(r) in computer X(i) and account A(s) has insufficient funds.
Claim 6
Dependent Claim
95 words
A method according to claim 2 wherein in response to an acceptance in said second control message, said sequence of electronic control messages further includes a third control message from computer X(i) to said computer Y, which requests that funds F(z) be transferred in said particular direction between the net accounts for computers X(i) and X(j), and a fourth control message that is from said computer Y to at least one of said computers X(i) and X(s), which indicates that said funds F(z) have been transferred between said net accounts for computers X(i) and X(j).
Claim 7
Dependent Claim
28 words
A method according to claim 5 wherein in response to said fourth control message, computers X(i) and X(j) transfer said funds F(z) between said accounts A(r) and A(s).
Claim 8
Dependent Claim
53 words
A method according to claim 5 wherein prior to sending said fourth control message, computer Y stores a record which verifies that a transfer of said funds F(z) in said particular direction between accounts A(r) in computer X(i) and account A(s) in computer X(j) was authorized by computers X(i) and X(j) via X(i).
Claim 9
Dependent Claim
71 words
A method according to claim 1 wherein each sequence of electronic control messages includes a first control message from computer X(i) to computer X(j) which requests that said funds F(z) be transferred in said particular direction between said accounts A(r) and A(s), and a second control message from computer X(j) to computer Y or computer X(i) which indicates respectively that the requested funds transfer is accepted or rejected by computer X(j).
Claim 10
Dependent Claim
43 words
A method according to claim 8 wherein said second control message is to computer X(i) and indicates that the requested funds transfer is rejected regardless of said particular direction if said account A(s) in computer X(j) has been closed or does not exist.
Claim 11
Dependent Claim
47 words
A method according to claim 8 wherein said second control message is to computer X(i) and indicates that the requested funds transfer is rejected if said particular direction is from account A(s) in computer X(j) to account A(r) in computer X(i) and account A(s) has insufficient funds.
Claim 12
Dependent Claim
66 words
A method according to claim 8 wherein in response to an acceptance in said second control message to computer Y, said sequence of electronic control messages further includes a third control message that is from said computer Y to at least one of said computers X(i) and X(j), which indicates that said funds F(z) have been transferred between said net accounts for computers X(i) and X(j).
Claim 13
Dependent Claim
28 words
A method according to claim 11 wherein in response to said third control message, computers X(i) and X(j) transfer said funds F(z) between said accounts A(r) and A(s).
Claim 14
Dependent Claim
53 words
A method according to claim 11 wherein prior to sending said third control message, computer Y stores a record which verifies that a transfer of said funds F(z) in said particular direction between accounts A(r) in computer X(i) and account A(s) in computer X(j) was authorized by computers X(j) and X(i) via X(j).
Claim 15
Dependent Claim
87 words
A method according to claim 1 wherein each sequence of electronic control messages includes a first control message from computer X(i) to computer X(j) which requests that said funds F(z) be transferred in said particular direction between said accounts A(r) and A(s), a second control message from computer X(j) to computer X(i) which indicates whether the requested funds transfer is accepted or rejected by computer X(j), and a third control message from computer X(j) to computer Y if the requested funds transfer is accepted by computer X(j).
Claim 16
Dependent Claim
38 words
A method according to claim 14 wherein said second control message indicates that the requested funds transfer is rejected regardless of said particular direction if said account A(s) in computer X(j) has been closed or does not exist.
Claim 17
Dependent Claim
42 words
A method according to claim 14 wherein said second control message indicates that the requested funds transfer is rejected if said particular direction is from account A(s) in computer X(j) to account A(r) in computer X(i) and account A(s) has insufficient funds.
Claim 18
Dependent Claim
102 words
A method according to claim 14 wherein in response to an acceptance in said second control message, said sequence of electronic control messages further includes a fourth control message from computer X(i) to said computer Y, which requests that funds F(z) be transferred in said particular direction between the net accounts for computers X(i) and X(j), and a fifth control message from said computer Y to at least one of said computers X(i) and X(j), which indicates that in response to said third and fourth control messages, said funds F(z) have been transferred between said net accounts for computers X(i) and X(j).
Claim 19
Dependent Claim
28 words
A method according to claim 17 wherein in response to said fifth control message, computers X(i) and X(j) transfer said funds F(z) between said accounts A(r) and A(s).
Claim 20
Dependent Claim
53 words
A method according to claim 17 wherein prior to sending said fifth control message, computer Y stores a record which verifies that a transfer of said funds F(z) in said particular direction between accounts A(r) in computer X(i) and account A(s) in computer X(j) was authorized by computers directly by X(i) and X(j).
Claim 21
Dependent Claim
41 words
A method according to claim 1 wherein in each computer X(i), hundreds of said input requests are received; and in response thereto, a corresponding number of said control message sequences occur on said communication channel, before said settling step is performed.
Claim 22
Dependent Claim
40 words
A method according to claim 1 wherein before said settling step, one subset of said control message sequences add funds to a particular customer account and another subset of said control message sequences subtract funds to that said particular account.
Claim 23
Dependent Claim
33 words
A method according to claim 1 wherein said settling step is performed at a rate of less than once every hour whereas each sequence of control messages occurs in less than five minutes.
Claim 24
Dependent Claim
26 words
A method according to claim 1 wherein said particular direction is selectable, by each input request, to be from account A(r) to account A(s) or vice-versa.
Claim 25
Dependent Claim
20 words
A method according to claim 1 wherein said particular direction is predetermined to be from account A(s) to account A(r).
Claim 26
Dependent Claim
20 words
A method according to claim 1 wherein said particular direction is predetermined to be from account A(r) to account A(s).
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2002-03-15 | 2002-09-14 | 2003-03-16 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2006-03-15 | 2006-09-14 | 2007-03-16 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2010-03-15 | 2010-09-14 | 2011-03-16 | $7700.00 | Window Closed / Lapsed |