Miguel A Cintron

US Patent:

7797234, Sep 14, 2010

Filed:

Aug 26, 2005

Appl. No.:

11/162066

Inventors:

Thomas D. Avazian - Miami FL, US
Miguel Cintron - Charlotte NC, US
Marcos Rosenberg - Charlotte NC, US
Claudia Tabacinic - Hollywood FL, US
Faith A. Tucker - Wichita KS, US
Eduardo J. Vergara - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 39

Abstract:

A bank customer of a first bank in a first country has a bank account. The bank provides a banking service whereby customer is able to send cash to a recipient in a second country via a commingled bank account belonging to a second bank. The cash is provided to the recipient in the currency of the second country by a third party payment agent. To effect a transfer, the bank customer in the first country instructs the first bank to debit his or her account and send cash to a designated recipient. In response, the first bank debits the customer's account, sends first payment instructions to the second bank, and transfers funds to a commingled account at the second bank. Funds from this commingled account are used to pay for the cash provided to the recipient. The banking service may be provided free of charge to a banking customer of the first bank.

US Patent:

7996309, Aug 9, 2011

Filed:

Jul 23, 2010

Appl. No.:

12/842675

Inventors:

Thomas D. Avazian - Miami FL, US
Miguel Cintron - Charlotte NC, US
Marcos Rosenberg - Charlotte NC, US
Claudia Tabacinic - Hollywood FL, US
Faith A. Tucker - Wichita KS, US
Eduardo J. Vergara - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 39

Abstract:

A bank customer of a first bank in a first country has a bank account. The bank provides a banking service whereby customer is able to send cash to a recipient in a second country via a commingled bank account belonging to a second bank. The cash is provided to the recipient in the currency of the second country by a third party payment agent. To effect a transfer, the bank customer in the first country instructs the first bank to debit his or her account and send cash to a designated recipient. In response, the first bank debits the customer's account, sends first payment instructions to the second bank, and transfers funds to a commingled account at the second bank. Funds from this commingled account are used to pay for the cash provided to the recipient. The banking service may be provided free of charge to a banking customer of the first bank.