Systems and methods for performing international money exchanges

Abstract

Disclosed are systems and methods for effecting international online financial transactions between individuals or between individuals and entities such as banks, merchants and other companies. In one embodiment, requests for international currency exchanges are processed in batch form. A currency accumulator may be used to keep track of currency exchange requests, where each currency is assigned a notional “bucket,” which is a symbolic representation of a database entry for the monetary amount which has been requested to be exchanged for a given currency. When the contents of a particular currency's “bucket” reaches a given level, the monetary amount in the bucket may be exchanged for an equivalent amount of a second currency.

1 . A method comprising:
 receiving financial account information from a first user, wherein the financial account information is associated with multiple accounts;   transferring funds based on said financial account information into a first online account associated with said first user;   receiving, by a first fund exchange server, a transfer request from the first user to transfer funds from said first online account to a second online account, said second online account being associated with a second user;   transmitting said transfer request from said first fund exchange server to a second fund exchange server, wherein said transfer request is made in a first currency;   receiving a plurality of monetary exchange requests from at least one other user to exchange the first currency for the second currency;   monitoring an amount of said first currency that has been requested to be exchanged pursuant to said plurality of monetary exchange requests; and   depositing said funds from said first online account into said second online account in a second currency in response to said amount of the first currency reaching a predetermined level.