Systems and methods for pre-authorized money transfer transactions

Abstract

Methods and systems which allow one or more money transfer transactions to be implemented in a manner which provides additional certainty to a receiving party are provided. In one embodiment, a money transfer service authorizes a sender to transfer up to a certain amount of money. With this authorization, a money transfer transaction regiment is established, while the money transfer service maintains an accounting of the balance to insure that the balance remains below the pre-determined authorized amount. In another embodiment, a money transfer services utilizes reliability criteria to authorize a sender to transfer money with the money and service charge being collected after the transfer is completed.

What is claimed is: 
     
         1 . A method of implementing money transfer transactions, said method comprising:
 compiling, under control of a processing device, information regarding a sender;   determining, under control of the processing device, a total amount of money that is pre-authorized for transfer to a receiver prior to the sender providing payment for a requested money transfer, said determining based at least in part on said compiled information, wherein the compiled information used in said determining comprises information regarding a bank account of the sender;   providing funds, not exceeding the pre-authorized amount, to a receiver;   subsequent to said providing, collecting payment, from the sender, for at least some of the funds sent to the receiver;   maintaining an accounting of provided funds and payment collected; and   providing additional funds to the receiver as long as a balance of the provided funds and the payment collected remains below the pre-authorized total amount of money.   
     
     
         2 . The method of  claim 1  wherein said providing of funds and said providing of additional funds is done according to an established regimen that involves periodic money transfers from the sender to the receiver. 
     
     
         3 . The method of  claim 2  further comprising:
 notifying the sender that an upcoming money transfer in the regimen will not be provided, based on the balance of the provided funds and the payment collected. 
 
     
     
         4 . The method of  claim 1  wherein the compiled information used in said determining comprises information that there is a familial relationship between the sender and the receiver. 
     
     
         5 . The method of  claim 1  wherein the compiled information used in said determining comprises a previous transfer history of the sender. 
     
     
         6 . The method of  claim 1  wherein the compiled information used in said determining comprises credit ratings. 
     
     
         7 . The method of  claim 1  wherein the receiver requests the requested money transfer. 
     
     
         8 . The method of  claim 1  wherein said determining comprises using a scoring system to generate a reliability score. 
     
     
         9 . The method of  claim 1  wherein the payment collected comprises a service charge. 
     
     
         10 . The method of  claim 9  wherein the amount of the service charge depends on timing of payment for a previous money transfer. 
     
     
         11 . A system for implementing money transfer transactions, said system comprising:
 a computing device comprising a processor, said computing device configured to:
 compile information regarding a sender; 
 determine a total amount of money that is pre-authorized for transfer to a receiver prior to the sender providing payment for a requested money transfer, said determining based at least in part on said compiled information, wherein the compiled information used in said determining comprises information regarding a bank account of the sender; 
 maintaining an accounting of funds provided to a receiver and payment collected from the sender to ensure a balance between the funds provided and the payment collected remains below the pre-authorized total amount of money. 
   
     
     
         12 . The system of  claim 11  wherein said sender provides funds to the receiver based on an established regimen that involves periodic money transfers from the sender to the receiver. 
     
     
         13 . The system of  claim 12  wherein said computing device is further configured to:
 notify the sender that an upcoming money transfer in the regimen will not be provided, based on the balance of the provided funds and the payment collected. 
 
     
     
         14 . The method of  claim 1  wherein the compiled information used in said determining comprises information that there is a familial relationship between the sender and the receiver. 
     
     
         15 . The system of  claim 11  wherein the compiled information used in said determining comprises a previous transfer history of the sender. 
     
     
         16 . The system of  claim 11  wherein the compiled information used in said determining comprises credit ratings. 
     
     
         17 . The system of  claim 11  wherein the receiver requests the requested money transfer. 
     
     
         18 . The system of  claim 11  wherein said determining comprises using a scoring system to generate a reliability score. 
     
     
         19 . The system of  claim 11  wherein the payment collected comprises a service charge. 
     
     
         20 . The system of  claim 19  wherein the amount of the service charge depends on timing of payment for a previous money transfer.