Systems and methods for directing a money transfer to a receiving party account

Abstract

Systems and methods which facilitate money transfer transactions to a receiving account are provided. Embodiments may provide for interaction between a money transfer service and one or more receiving account entities. Such interaction may be configured to cooperatively utilize transaction details in order to correctly route transferred funds to a receiving account. Embodiments may utilize this cooperation to prevent sensitive information from being widely distributed by parties which participate in a money transfer transaction.

What is claimed is: 
     
         1 . A method for facilitating an electronic money transfer transaction, said method comprising:
 receiving transaction details for the money transfer transaction at a processing device, said transaction details provided at least in part by a sending party, wherein the transaction details identify a receiving party, and wherein the transaction details exclude an account number for a destination account corresponding to the receiving party;   compiling, by a processing device, information regarding an account managed by a third party from a third party server, said information corresponding to the destination account of the receiving party of said money transfer transaction;   determining, by a processing device, the destination account corresponding to the receiving party using the compiled third party account information and the received transaction details; and   transferring funds from the sending party to the destination account corresponding to the receiving party.   
     
     
         2 . The method of  claim 1  wherein the receiving party account is pre-registered with the money transfer service. 
     
     
         3 . The method of  claim 1  wherein said compiling information regarding a third party account is implemented in real time with the initiation of a money transfer transaction. 
     
     
         4 . The method of  claim 1  wherein said determining a target account is implemented without the money transfer service receiving an account number for the target account. 
     
     
         5 . The method of  claim 1  further comprising receiving an error indicating that a target account cannot be determined. 
     
     
         6 . The method of  claim 5  further comprising receiving additional details from a sending party to be utilized to determine the target account. 
     
     
         7 . A method for facilitating a money transfer transaction, said method comprising:
 receiving transaction details for the money transfer transaction at a processing device, said transaction details provided at least in part by a sending party, wherein the transaction details identify a receiving party, and wherein the transaction details exclude an account number for a destination account corresponding to the receiving party;   sending one or more received details to a central server, said central server configured to cooperatively process destination information for the money transfer transaction with a third party account server;   receiving confirmation from the central server that a target account for a receiving party has been identified;   collecting funds for the money transfer transaction at the agent device; and   directing the money transfer funds to the identified receiving party account.   
     
     
         8 . The method of  claim 7  wherein the receiving party account is pre-registered with a money transfer service facilitating the money transfer transaction. 
     
     
         9 . The method of  claim 7  wherein said destination information is processed and determined in real time with the initiation of the money transfer transaction. 
     
     
         10 . The method of  claim 7  wherein said destination information is processed without the sending party providing an account number for the destination account. 
     
     
         11 . The method of  claim 7  further comprising receiving an error indicating that a destination account cannot be processed, and receiving additional details from a sending party to be utilized to process the destination account. 
     
     
         12 . A computer program product having a non-transitory computer readable medium with code encoded thereon which, when executed causes one or more processing devices to:
 receive transaction details for the money transfer transaction at a processing device, said transaction details provided at least in part by a sending party, wherein the transaction details identify a receiving party, and wherein the transaction details exclude an account number for a destination account corresponding to the receiving party;   compile, by a processing device, information regarding an account managed by a third party from a third party server, said information corresponding to the destination account of the receiving party of said money transfer transaction;   determine, by a processing device, the destination account corresponding to the receiving party using the compiled third party account information and the received transaction details; and   transfer funds from the sending party to the destination account corresponding to the receiving party.   
     
     
         13 . The computer program product of  claim 12  wherein the receiving party account is pre-registered with the money transfer service. 
     
     
         14 . The computer program product of  claim 12  wherein said compiling information regarding a third party account is implemented in real time with the initiation of a money transfer transaction. 
     
     
         15 . The computer program product of  claim 12  wherein the one or more processing devices is further configured to receive an error indicating that a target account cannot be determined. 
     
     
         16 . The computer program product of  claim 15  wherein the one or more processing devices is further configured to receive additional details from a sending party to be utilized to determine the target account. 
     
     
         17 . An apparatus configured for implementing financial transactions, the apparatus comprising:
 an agent computer having at least one processor and memory coupled to the at least one processor, wherein the at least one processor is configured to:
 receive transaction details for the money transfer transaction at a processing device, said transaction details provided at least in part by a sending party, wherein the transaction details identify a receiving party, and wherein the transaction details exclude an account number for a destination account corresponding to the receiving party; 
 send one or more received details to a central server, said central server configured to cooperatively process destination information for the money transfer transaction with a third party account server; 
 receive confirmation from the central server that a target account for a receiving party has been identified; 
 collect funds for the money transfer transaction at the agent device; and 
 direct the money transfer funds to the identified receiving party account. 
   
     
     
         18 . The apparatus of  claim 17  wherein the receiving party account is pre-registered with a money transfer service facilitating the money transfer transaction. 
     
     
         19 . The apparatus of  claim 17  wherein said destination information is processed and determined in real time with the initiation of the money transfer transaction. 
     
     
         20 . The apparatus of  claim 17  wherein said destination information is processed without the sending party providing an account number for the destination account. 
     
     
         21 . The apparatus of  claim 17  wherein the at least one processor is further configured to receive an error indicating that a destination account cannot be processed, and receive additional details from a sending party to be utilized to process the destination account.