US7104440B2 — Money transfer systems and methods for travelers

Claim 1

Independent Claim 159 words

A method for transferring money from a first country to a second country having a different currency, the method comprising: receiving and storing at a host computer system money transfer information comprising recipient identification information, at least one second country where the money is to be received, and a payment amount in an originating currency; wherein the stored payment amount is to be withdrawn in portions from the second county; in response to receiving the second country at the host computer system. providing second country transfer information for use by a recipient in making withdrawals in the second country; receiving at the host computer system a request transmitted from the second country to withdraw a portion of the stored payment amount in a local currency of the second country; and storing a record at the host computer system of the amount of each portion withdrawn and an exchange rate used to convert the withdrawn amount to the local currency.

Claim 2

Independent Claim 159 words

A method for transferring money from a first country to a second country having a different currency, the method comprising: receiving and storing at a host computer system money transfer information comprising recipient identification information, at least one second country where the money is to be received, and a payment amount in an originating currency; wherein the stored payment amount is to be withdrawn in portions from the second county; in response to receiving the second country at the host computer system. providing second country transfer information for use by a recipient in making withdrawals in the second country; receiving at the host computer system a request transmitted from the second country to withdraw a portion of the stored payment amount in a local currency of the second country; and storing a record at the host computer system of the amount of each portion withdrawn and an exchange rate used to convert the withdrawn amount to the local currency.

Claim 3

Dependent Claim 25 words

A method as in claim 1 , further comprising storing at the host computer system a record of any fees charged on the amount withdrawn.

Claim 4

Dependent Claim 41 words

A method as in claim 1 , wherein the recipient information comprises the recipient's name and an identification number, and wherein the request includes an identification number from the recipient, and further comprising comparing the identification numbers to authorize the withdrawal.

Claim 5

Dependent Claim 42 words

A method as in claim 1 , wherein the request includes the name of a sender, and wherein the sender and the recipient are the same, so that the sender has access to the payment amount when traveling in the second country.

Claim 6

Dependent Claim 34 words

A method as in claim 1 , further comprising transmitting from the host computer system to a remote payout computer in the second country receipt information needed to provide a receipt to the recipient.

Claim 7

Dependent Claim 28 words

A method as in claim 5 , wherein the receipt information comprises an amount paid to the recipient, any fees, and a remaining balance of the payment amount.

Claim 8

Dependent Claim 24 words

A method as in claim 1 , further comprising receiving and storing at the host computer system multiple countries where the money may bereceived.

Claim 9

Dependent Claim 37 words

The method of claim 1 , wherein the second country transfer information permits a user to receive information on the second country, including information on locations in the second country where the stored payment may be withdrawn.

Claim 10

Dependent Claim 39 words

The method of claim 1 , further comprising: establishing a fee structure to be paid for money transfers, the fees structure including a fee when the stored payment amount is received and a second fee for each withdrawn amount.

Claim 11

Dependent Claim 16 words

The method of claim 9 , wherein the second fee is based on the withdrawn amount.

Claim 12

Dependent Claim 26 words

The method of claim 10 , wherein the terminal provides a receipt for the stored payment and wherein the withdrawal locations are printed on the receipt.

Claim 13

Dependent Claim 55 words

The method of claim 1 , wherein the person providing the stored amount is the recipient, wherein the money transfer information is entered at a terminal in order to be transmitted to the host system, and wherein the second country transfer information includes locations in the second country where the stored payment may be withdrawn.

Claim 14

Independent Claim 134 words

A method for transferring money from a first country to a second country having a different local currency, the method comprising: entering into a remote computer money transfer information from a sender wherein the money transfer information comprises recipient identification information, at least one second country where the money is to be received, and a payment amount in an originating currency, the payment amount for being withdrawn in portions at locations in the second country; transmitting from the remote computer to a host computer system the money transfer information; and providing a receipt to the sender that includes at least some of the money transfer information and payout information that may be used to identify potential payout locations in the identified second country for withdrawing portions of the payment amount in the local currency.

Claim 15

Independent Claim 134 words

A method for transferring money from a first country to a second country having a different local currency, the method comprising: entering into a remote computer money transfer information from a sender wherein the money transfer information comprises recipient identification information, at least one second country where the money is to be received, and a payment amount in an originating currency, the payment amount for being withdrawn in portions at locations in the second country; transmitting from the remote computer to a host computer system the money transfer information; and providing a receipt to the sender that includes at least some of the money transfer information and payout information that may be used to identify potential payout locations in the identified second country for withdrawing portions of the payment amount in the local currency.

Claim 16

Dependent Claim 30 words

A method as in claim 13 , wherein the recipient information comprises the recipient's name and an identification number that is usable to receive a payout from the identified country.

Claim 17

Independent Claim 177 words

A method for transferring money to a location having a different currency, the method comprising: entering into a remote computer money transfer information from a sender wherein the money transfer information comprises recipient identification information, at least one designated country where the money is to be received, and a payment amount in an originating currency, the payment amount for being withdrawn in portions in the designated country; transmitting the money transfer information to a host computer system; in response to transmitting the designated country as part of the money transfer information, providing withdrawal information at the remote computer useful to the recipient in making withdrawals in the designated country, the withdrawal information including locations in the designated country where withdrawals may be made; entering into a payout computer that is located in the designated country recipient identification information along with a request to withdraw a portion of the payment amount; transmitting the recipient identification information and the request to withdraw to a host computer system; and providing the requested withdrawal to the recipient in the local currency.

Claim 18

Independent Claim 177 words

A method for transferring money to a location having a different currency, the method comprising: entering into a remote computer money transfer information from a sender wherein the money transfer information comprises recipient identification information, at least one designated country where the money is to be received, and a payment amount in an originating currency, the payment amount for being withdrawn in portions in the designated country; transmitting the money transfer information to a host computer system; in response to transmitting the designated country as part of the money transfer information, providing withdrawal information at the remote computer useful to the recipient in making withdrawals in the designated country, the withdrawal information including locations in the designated country where withdrawals may be made; entering into a payout computer that is located in the designated country recipient identification information along with a request to withdraw a portion of the payment amount; transmitting the recipient identification information and the request to withdraw to a host computer system; and providing the requested withdrawal to the recipient in the local currency.

Claim 19

Dependent Claim 26 words

A method as in claim 15 , further comprising adjusting an account associated with the recipient to indicated the amount of withdrawal along with any fees.

Claim 20

Dependent Claim 139 words

A money transfer system for permitting a recipient to withdraw portions of a payment amount, comprising: a host computer system that is configured to receive and store money transfer information comprising recipient identification information, at least one foreign country where the money is to be received, and a payment amount in an originating currency; wherein the host computer is also configured to provide information pertaining to withdrawals in the foreign country in response to receipt of the foreign country information; and wherein the host computer system is further configured to receive a request to withdraw a portion of the payment amount in a local currency from the foreign country where the request was transmitted, to deduct the requested portion from the payment amount along with any fees, and to convert the requested portion to the local currency when withdrawn.

Claim 21

Dependent Claim 139 words

A money transfer system for permitting a recipient to withdraw portions of a payment amount, comprising: a host computer system that is configured to receive and store money transfer information comprising recipient identification information, at least one foreign country where the money is to be received, and a payment amount in an originating currency; wherein the host computer is also configured to provide information pertaining to withdrawals in the foreign country in response to receipt of the foreign country information; and wherein the host computer system is further configured to receive a request to withdraw a portion of the payment amount in a local currency from the foreign country where the request was transmitted, to deduct the requested portion from the payment amount along with any fees, and to convert the requested portion to the local currency when withdrawn.

Claim 22

Dependent Claim 37 words

A system as in claim 17 , wherein the host computer system is further configured to receive recipient identification information from the recipient and to compare the received recipient identification information with the stored recipient identification information.

Claim 23

Dependent Claim 35 words

A system as in claim 17 , wherein the host computer system is further configured to transmit to a remote payout computer receipt information needed to provide a receipt to the recipient indicating the withdrawal.

Claim 24

Dependent Claim 32 words

A system as in claim 17 , wherein the host computer system is further configured to transmit to a remote payment computer contact information for contacting payout locations in the designated country.

Annuity Stage	Window Opens	Payment Deadline	Surcharge Period Until	Estimated Fee	Status
3.5 Years (Year 4)	2009-09-11	2010-03-13	2010-09-12	$2000.00	Window Closed / Lapsed
7.5 Years (Year 8)	2013-09-11	2014-03-13	2014-09-12	$3760.00	Window Closed / Lapsed
11.5 Years (Year 12)	2017-09-11	2018-03-13	2018-09-12	$7700.00	Window Closed / Lapsed

Money transfer systems and methods for travelers

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