Cryptography – Particular algorithmic function encoding – Nbs/des algorithm
Patent
1997-06-17
1999-10-05
Gregory, Bernarr E.
Cryptography
Particular algorithmic function encoding
Nbs/des algorithm
380 9, 380 25, 380 49, 705 35, 705 39, 705 42, 705 43, 705 44, 235379, 235380, H04L 900
Patent
active
059636475
ABSTRACT:
Disclosed is a system and method for transferring funds. The invention supports funds transfers from a source account to a cash access file which can be accessed virtually twenty-four hours a day by both customers and non-customers. Access is achieved by the recipient entering a codeword selected by the sender, along with a transaction code randomly generated by the system. Once the sender provides the codeword and the transaction code to the recipient, the recipient can receive transferred cash through an ATM, even without using a card to access the system. Cash may be transferred across international borders and dispensed in a currency different than that of the sender's source account. Although cash is made available to a recipient virtually as soon as the requested transfer is approved and confirmed by the sender, the sender's account is not debited until the cash is actually received by the recipient. Other features, including security, cancellation, and status inquiries are also described.
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International Search Report mailed Jun. 29, 1998.
PCT International Application, Publication No. WO 98/19261, Distributed On-Line Data Communications System and Method, May 7, 1998 (Priority Date Oct. 29, 1996).
Downing John
Hernandez William M.
Hooper William D.
Horowitz Edward
Meiroff Netty
Citicorp Development Center Inc.
Gregory Bernarr E.
Marcou George T.
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