Method and apparatus for funds and credit line transfers

Abstract

A financial tender transfer system allows a transferor to transfer credit or make payment to a transferee by debiting the credit card of the transferor and crediting the credit card of the transferee. The financial tender transfer system gives the transferee immediate access to the transferred money and ensures the transferor's credit card is valid. Neither party needs to give their credit card number to the other, so security is preserved. Any amount of value up to the full credit line of the transferor can be transferred to the transferee.

What is claimed is:  
     
         1 . A system for transferring financial tender between credit card accounts, comprising: 
 means for identifying a transferor and a transferee credit card account;    means for identifying a financial tender value to be transferred from said transferor credit card account to said transferee credit card account; and    means for initiating the transfer of said financial tender value from said transferor credit card account to said transferee credit card account,    wherein said transferor credit card account and said transferee credit card account are separately assigned.    
     
     
         2 . A system in accordance with    claim 1    wherein said means for initiating the transfer includes: 
 means for debiting said transferor credit card account; and  
 means for crediting said transferee credit card account.  
 
     
     
         3 . A system in accordance with    claim 1    wherein: 
 said means for initiating the transfer of said financial tender value from said transferor credit card account to said transferee credit card account includes a computer controller; and  
 said means for identifying a transferor and a transferee credit card account and said means for identifying said financial tender value together include at least one input device connected to said computer controller.  
 
     
     
         4 . A system in accordance with    claim 3    and further including means connected to said computer controller for communicating with issuing banks of said transferor and transferee credit card accounts.  
     
     
         5 . A system in accordance with    claim 3    wherein said means for identifying a transferor and a transferee credit card account further comprises: 
 a transferor name;  
 an identifier representing at least a portion of a unique account number for said transferor credit card account; and  
 means for receiving said transferor name and said portion of said identifier.  
 
     
     
         6 . A system in accordance with    claim 3    wherein said means for identifying a transferor and a transferee credit card account includes: 
 means for receiving a transferee identification number from said transferor; and  
 means for receiving a transferor credit card account number from said transferor,  
 and wherein said means for identifying said financial tender value includes  
 means for receiving said financial tender value from said transferor.  
 
     
     
         7 . A system in accordance with    claim 3    wherein said means for identifying a transferor and a transferee credit card account includes: 
 means for receiving a transferor identification number from said transferee; and  
 means for receiving a transferee credit card account number from said transferee,  
 and wherein said means for identifying said financial tender value includes  
 means for receiving said financial tender value from said transferee.  
 
     
     
         8 . A system in accordance with    claim 7    wherein said computer controller includes: 
 means for generating said transferor identification number; and  
 means for transmitting said transferor identification number to said transferor.  
 
     
     
         9 . A system in accordance with    claim 3    wherein said means for obtaining a transferor and a transferee credit card account includes a single encrypted code containing at least a portion of a transferor credit card account number and at least a portion of a transferee credit card account number.  
     
     
         10 . A system in accordance with    claim 9    wherein said single encrypted code further includes said financial tender value to be transferred from said transferor credit card account to said transferee credit card account.  
     
     
         11 . A system in accordance with    claim 10   , wherein said computer controller includes means for generating said single encrypted code.  
     
     
         12 . A method for transferring financial tender between credit card accounts, said method comprising the steps of: 
 identifying a transferor account and a transferee account;    identifying a financial tender value to be transferred from said transferor account to said transferee account; and    transferring said financial tender value from said transferor account to said transferee account,    wherein said transferor account and said transferee account are not commonly assigned.    
     
     
         13 . A method in accordance with    claim 12   , wherein said step of transferring said financial tender value transfer includes the substeps of: 
 debiting said transferor account; and    crediting said transferee account.    
     
     
         14 . A method in accordance with    claim 12   , wherein said step of initiating the transfer includes the substep of: 
 using a computer controller to initiate the transfer.    
     
     
         15 . A method in accordance with    claim 14   , wherein said step of initiating the transfer further includes the substep of: 
 communicating said transferor and transferee accounts from the computer controller to issuing banks of said transferor and transferee accounts.    
     
     
         16 . A method in accordance with    claim 14   , wherein said step of identifying a transferor and a transferee account includes the substeps of: 
 identifying a transferor name;    identifying an identifier representing at least a portion of a unique account number for said transferor account; and    receiving said transferor name and said identifier.    
     
     
         17 . A method in accordance with    claim 14   , wherein said step of identifying a transferor and a transferee account includes the substeps of: 
 receiving a transferee identification number from said transferor; and    receiving a transferor account number from said transferor,    and wherein said step of identifying said financial tender value includes the substep of    receiving said financial tender value from said transferor.    
     
     
         18 . A method in accordance with    claim 14   , wherein said step of identifying a transferor and a transferee account includes the substep of: 
 receiving a transferor identification number from said transferee; and    receiving a transferee account number from said transferee,    and wherein said step of identifying said financial tender value includes the substep of    receiving said financial tender value from said transferee.    
     
     
         19 . A method in accordance with    claim 18   , wherein said step of receiving a transferor identification number includes the substeps of: 
 generating said transferor identification number with said computer controller, and    transmitting said transferor identification number to said transferor from said computer controller.    
     
     
         20 . A method in accordance with    claim 14   , wherein said step of identifying a transferor and a transferee account include the substep of: 
 coding at least a portion of a transferor account number and at least a portion of a transferee account number as an encrypted code.    
     
     
         21 . A method in accordance with    claim 20   , wherein said step of coding includes the substep of: 
 including said financial tender value to be transferred from said transferor account to said transferee account in said encrypted code.    
     
     
         22 . A method in accordance with    claim 21   , wherein the step of coding includes the substep of: 
 generating said encrypted code with said computer controller.    
     
     
         23 . A system for transferring financial tender value between credit card accounts, comprising: 
 an input means for receiving an identifier for a transferor account, an identifier for a transferee account, and an identification of a financial tender value to be transferred from said transferor account to said transferee account; and    a processor configured to initiate the transfer of said financial tender value from said transferor account to said transferee account.    
     
     
         24 . A system in accordance with    claim 23   , wherein said processor includes: 
 means for initiating the debiting of said transferor account by said financial tender value; and    means for initiating the crediting of said transferee account for said financial tender value.    
     
     
         25 . A system in accordance with    claim 23    wherein: 
 said processor includes a computer controller; and  
 said input means includes at least one input device connected to said computer controller.  
 
     
     
         26 . A system in accordance with    claim 25   , further including means connected to said computer controller for communicating with issuing banks of said transferor and transferee accounts.  
     
     
         27 . A system in accordance with    claim 25    wherein said input means includes: 
 means for receiving a transferor name and an identifier representing at least a portion of a unique account number for said transferor account from said transferee.  
 
     
     
         28 . A system in accordance with    claim 25    wherein said input means includes: 
 means for receiving a transferee identification number from said transferor;  
 means for receiving a transferor account number from said transferor; and  
 means for receiving said financial tender value from said transferor.  
 
     
     
         29 . A system in accordance with    claim 25    wherein said input means includes: 
 means for receiving a transferor identification number from said transferee;  
 means for receiving a transferee account number from said transferee; and  
 means for receiving said financial tender value from said transferee.  
 
     
     
         30 . A system in accordance with    claim 29    wherein said computer controller includes: 
 means for generating said transferor identification number; and  
 means for transmitting said transferor identification number to said transferor.  
 
     
     
         31 . A system in accordance with    claim 25    wherein said input means includes means for receiving a single encrypted code containing at least a portion of said transferor account number and at least a portion of said transferee account number.  
     
     
         32 . A system in accordance with    claim 31    wherein said single encrypted code further includes said financial tender value to be transferred from said transferor account to said transferee account.  
     
     
         33 . A system in accordance with    claim 31    wherein said computer controller includes means for generating said single encrypted code.  
     
     
         34 . A computer program product comprising: 
 a computer usable medium having computer readable code embodied therein for transferring financial tender between credit card accounts, the computer usable medium comprising:    an input module configured to receive an identifier for a transferor account and a transferee account, and an identifier for a financial tender value to be transferred from said transferor account to said transferee account; and    a control module for initiating the transfer of said financial tender value from said transferor account to said transferee account.    
     
     
         35 . A computer program product in accordance with    claim 34   , wherein said control module includes: 
 a debit module for initiating the debiting of said transferor account by said financial tender value; and    a credit module for initiating the crediting of said transferee account for said financial tender value.    
     
     
         36 . A computer program product in accordance with    claim 34   , wherein said computer usable medium further comprises a communication module for communicating with issuing banks of said transferor and transferee accounts.  
     
     
         37 . A computer program product in accordance with    claim 36    wherein said input module includes: 
 a receiver module for receiving a transferor name and an identifier representing at least a portion of a unique account number for said transferor account from said transferee.  
 
     
     
         38 . A computer program product in accordance with    claim 34    wherein said input module includes: 
 a receiver module for receiving a transferee identification number from said transferor;  
 a receiver module for receiving a transferor account number from said transferor; and  
 a receiver module for receiving said financial tender value from said transferor.  
 
     
     
         39 . A computer program product in accordance with    claim 34    wherein said input module includes: 
 a receiver module for receiving a transferor identification number from said transferee;  
 a receiver module for receiving a transferee account number from said transferee; and  
 a receiver module for receiving said financial tender value from said transferee.  
 
     
     
         40 . A method for transferring financial tender between credit card accounts, said method comprising the steps of: 
 identifying a transferor and a transferee account;    issuing a transferee identification number based on said transferee account;    identifying a financial tender value to be transferred from said transferor account to said transferee account; and    transferring said financial tender value from said transferor account to said transferee account using said transferee identification number and said transferor account.    
     
     
         41 . A method in accordance with    claim 40   , wherein said step of transferring said financial tender value includes the substep of: 
 receiving said transferee identification number, said transferor account, and said financial tender value from an owner of said transferor account.    
     
     
         42 . A method in accordance with    claim 40   , wherein the step of transferring said financial tender value includes the substep of: 
 verifying said transferee identification number against said transferee account.    
     
     
         43 . A method for transferring financial tender between credit card accounts, said method comprising the steps of: 
 identifying a transferor account and a transferee account;    issuing a transferor identification number based on said transferor account;    identifying a financial tender value to be transferred from said transferor account to said transferee account; and    transferring said financial tender value from said transferor account to said transferee account using said transferor identification number and said transferee account.    
     
     
         44 . A method in accordance with    claim 43   , wherein said step of transferring said financial tender value includes the substep of: 
 receiving said transferor identification number, said transferee account, and said financial tender value from an owner of said transferee account.    
     
     
         45 . A method in accordance with    claim 43   , wherein said step of transferring said financial tender value includes the substep of: 
 matching the transferor identification number with said transferor account.    
     
     
         46 . A method for transferring financial tender between credit card accounts, said method comprising the steps of: 
 identifying a transferor account and a portion of a transferee account number corresponding to a transferee account;    identifying a financial tender value to be transferred from said transferor account to said transferee account;    issuing an encrypted identification number based on said transferor account, said portion of a transferee account number, and said financial tender value;    identifying said transferee account; and    transferring said financial tender value from said transferor account to said transferee account using said encrypted identification number and said transferee account.    
     
     
         47 . A method in accordance with    claim 46   , wherein said step of transferring said financial tender value includes the substep of: 
 receiving said encrypted identification number and said transferee account from an owner of said transferee account.    
     
     
         48 . A method in accordance with    claim 46   , wherein said step of transferring said financial tender value includes the substeps of: 
 decrypting said encrypted identification number; and    verifying decrypted information of said encrypted identification number based on a comparison of said portion of a transferee account number against a complete transferee account number corresponding to said transferee account.    
     
     
         49 . A method of transferring financial tender between credit accounts, comprising the steps of: 
 identifying a first credit account having a first owner and a first credit limit;    identifying a second credit account having a second owner and a second credit limit;    identifying a financial tender value, consisting of a portion of said first credit limit, for transfer to said second credit account; and    increasing said second credit account by said financial tender value.    
     
     
         50 . A method in accordance with    claim 49   , wherein said step of identifying a financial tender value includes the substep of 
 receiving an authorization code identifying said financial tender value.    
     
     
         51 . A method in accordance with    claim 50   , further comprising the steps of: 
 receiving from said first owner information identifying said first credit account, said second credit account, and said financial tender value;    generating said authorization code; and    providing said authorization code to said first owner.    
     
     
         52 . A method in accordance with    claim 49   , further comprising the step of: 
 decreasing said first credit limit by said financial tender value transferred to said second credit account.    
     
     
         53 . A method in accordance with    claim 49   , further comprising the step of: 
 maintaining an electronic record indicating that the debt obligation for financial tender value transferred to said second credit card account is maintained by said first owner.    
     
     
         54 . A method in accordance with    claim 49   , wherein said first credit account and said second credit account each comprise a respective credit card account.  
     
     
         55 . A method in accordance with    claim 54   , wherein said first credit account and said second credit card account each comprise a respective revolving credit card account.  
     
     
         56 . A method of transferring financial tender value between credit accounts, comprising the steps of: 
 identifying a first credit account having a first owner and a first credit limit;    identifying a second credit account having a second owner and a second credit limit;    identifying a financial tender value, consisting of a portion of said first credit limit, for transfer to said second credit account;    initiating the transfer of said financial tender value to said second credit account; and    maintaining the debt obligation with said first owner for said first portion of said first credit limit transferred to said second credit account.    
     
     
         57 . A method in accordance with    claim 56   , wherein said step of initiating the transfer includes the substep of: 
 providing an authorization code to an issuer of said first credit account.    
     
     
         58 . A method of increasing an established line of credit, comprising the steps of: 
 identifying a first credit account having a first owner and a first credit limit;    identifying a second credit account having a second owner and a second credit limit; and    receiving from said first credit account a financial tender value, consisting of a portion of said first credit limit, added to said second credit limit, the debt obligation for said financial tender value remaining with said first owner.    
     
     
         59 . A method in accordance with    claim 58   , further comprising the step of: 
 using said financial tender value in a transaction.    
     
     
         60 . A method in accordance with    claim 58   , further comprising the step of: 
 initiating the transfer of said financial tender value to said second credit account    
     
     
         61 . A method in accordance with    claim 60   , wherein the step of initiating the transfer includes the substep of: 
 providing an authorization code to an issuer of said first credit account.    
     
     
         62 . A method of transferring financial tender value between credit accounts, comprising the steps of: 
 identifying a first credit account having a first owner and a first credit limit;    identifying a financial tender value, consisting of a portion of said first credit limit, for transfer to said second credit account; and    issuing an encrypted code based on said first credit account and said financial tender value;    identifying a second credit account having a second owner and a second credit limit; and    increasing said second credit account by said financial tender value using the encrypted code.    
     
     
         63 . A method of transferring financial tender value between credit accounts, comprising the steps of: 
 identifying a first credit account having a first owner and a first credit limit;    identifying a portion of a second credit account number of a second credit account having a second owner and a second credit limit;    identifying a financial tender value, consisting of a portion of said first credit limit, for transfer to said second credit account; and    increasing said second credit account by said financial tender value using said first credit account and said portion of a second credit account number of said second credit account.