System and method for sending money via e-mail over the internet

Abstract

A method and system for transferring money from a sender to a receiver utilizing a computer network such as the Internet. The sender visits a web site and identifies, to the server over the Internet, the receiver, an e-mail address of the receiver, an amount of money to be transferred, and a withdraw account from which money is to be transferred. Money is transferred from the withdraw account and deposited into a holding account. The server automatically sends an e-mail to the receiver, to inform the receiver that the sender has transferred money and to request the receiver to visit the web site to receive money. The receiver visits the web site of the server in response to the e-mail and identifies a deposit account to which money is to transferred. Money is withdrawn from the holding account and deposited in the deposit account.

Description

BACKGROUND OF THE INVENTION[0001]The present invention generally relates to a system and method for sending money via electronic mail and, more particularly, to a system and method for sending money via electronic mail over a computer network wherein a sender identifies a withdraw account such as a checking account and / or a credit card account and a receiver identifies a deposit account such as a checking account or credit card account.[0002]The Internet is a public network of computers which is, in simplified fashion, a web of autonomous computers and computer servers (“ACCS”) linked to data switches or routers and connected together. The ACCS are typically owned and operated by Internet Service Providers (“ISP”) such as PSI, UUNET, MCI, SPRINT, etc. The ACCS are link by telecommunication lines to form the Internet. Large data sources such as universities, governments, and corporations, collect and market information through their own Internet servers connected to the Internet. Use...

AI Technical Summary

Benefits of technology

The present invention provides a system and method for sending money through electronic messages or emails over a computer network. The system includes a server that receives a request from a sender to transfer money to a receiver and identifies a withdraw account from which the money is to be transferred. The server sends an electronic message to the receiver to inform them of the transfer and requests they contact the server to receive the money. The receiver contacts the server and identifies a deposit account to which the money is to be transferred. The money is then transferred from the withdraw account to the deposit account. This system simplifies the process of transferring money through electronic means and makes it more convenient for users.

Problems solved by technology

Although the Internet has enormous potential, use of the Internet may not be developing at a rate it can and should develop.

One reason for this depressed development is the difficulty to send money over the Internet.

Additionally, the alternative of sending cash or a check via a physical delivery service is slow and burdensome and is relatively expensive to obtain a shorter delivery time.

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