Funds network and method

Abstract

In a method of providing funds to a monetary repository, information is received identifying a payee and request by the payee to convert a negotiable instrument made to the payee to funds. In response to the information, confirmation is received whether to convert the negotiable instrument to funds. An image of the endorsed negotiable instrument is received. If a determination is made to convert the negotiable instrument to funds, an amount of funds corresponding to a value of the negotiable instrument is directed to a repository.

What is claimed: 
     
         1 . A method for activating functionality on a mobile software application installed on a mobile device of a user to allow the user to at least one of submit or transfer funds through a funds network that is not providing the mobile software application, the method comprising:
 receiving, by a computing system of the funds network and over a communication network, a name of the user and a member identification for the user;   querying, by the computing system, a plurality of member identifications based on the member identification for the user to generate a query result, wherein each member identification of the plurality of member identifications is associated with an enrollment for using the funds network;   identifying, by the computing system based on the query result, that the member identification for the user matches a corresponding member identification of the plurality of member identifications;   responsive to the member identification for the user matching the corresponding member identification, determining, by the computing system, that the name of the user matches a name associated with the corresponding member identification; and   responsive to determining that the name of the user matches the name associated with the corresponding member identification:
 activating, by the computing system, the corresponding member identification for remote access; and 
 returning, by the computing system over the communication network, an indication of acceptance to the mobile software application, wherein the mobile software application notifies the user of the indication of acceptance to allow the user to at least one of submit or transfer the funds through the funds network. 
   
     
     
         2 . The method of  claim 1 , wherein the corresponding member identification is associated with an electronic wallet from which the funds can be allocated into a plurality of monetary repositories, and the method further comprises:
 receiving, by the computing system via the mobile software application over the communication network, a request to convert a negotiable instrument to proceeds and an image of the negotiable instrument;   verifying, by the computing system, a validity of the negotiable instrument based on the image of the negotiable instrument; and   responsive to verifying the validity of the negotiable instrument, directing the proceeds from the negotiable instrument to an electronic wallet account associated with the electronic wallet.   
     
     
         3 . The method of  claim 2  further comprising automatically allocating, by the computing system, at least a portion of the proceeds from the electronic wallet account to one of the plurality of monetary repositories based on the user specifying the one of the plurality of monetary repositories. 
     
     
         4 . The method of  claim 2  further comprising automatically allocating, by the computing system, at least a portion of the proceeds from the electronic wallet account to at least two of the plurality of monetary repositories. 
     
     
         5 . The method of  claim 1 , wherein the corresponding member identification is associated with an electronic wallet and a prepaid card, and the method further comprises:
 receiving, by the computing system via the mobile software application over the communication network, a request to direct a first portion of proceeds to the electronic wallet and a second portion of the proceeds to the prepaid card, wherein the request comprises the corresponding member identification;   identifying, by the computing system and based on the corresponding member identification, the electronic wallet and the prepaid card; and   responsive to identifying the electronic wallet and the prepaid card, directing, by the computing system, the first portion of the proceeds to an electronic wallet account associated with the electronic wallet and the second portion of the proceeds to a prepaid card account associated with the prepaid card.   
     
     
         6 . The method of  claim 5 , wherein directing the second portion of the proceeds to the prepaid card account comprises conducting an electronic funds transfer of the second portion of the funds to a prepaid card provider computing system that applies the second portion of the funds to the prepaid card account. 
     
     
         7 . The method of  claim 5 , wherein the electronic wallet account is maintained by the funds network and the prepaid card account is maintained by a prepaid card provider that is separate from the funds network and is associated with the mobile software application. 
     
     
         8 . A system providing a funds network used in converting payments to funds comprising:
 a non-transitory computer-readable medium storing instructions; and   a processing device communicatively coupled to the non-transitory computer-readable medium,   wherein, the processing device is configured to execute the instructions and thereby perform operations comprising:
 receiving customer information for a user, wherein the customer information comprises personal information of the user and a card number issued by a debit card manager for a reloadable debit card; 
 responsive to receiving the customer information for the user:
 generating a member identification for the user; and 
 associating the customer information with the member identification; 
 
 receiving a request from the user to convert a payment to funds, wherein the request comprises at least a portion of the personal information; and 
 responsive to receiving the request:
 identifying the member identification for the user based on the portion of the personal information; 
 identifying the card number for the reloadable debit card based on the member identification; 
 converting the payment to the funds via the funds network; and 
 directing the funds to a debit card account associated with the reloadable debit card based on the card number via an electronic funds transfer to a computing system of the debit card manager. 
 
   
     
     
         9 . The system of  claim 8 , wherein the request is received via a mobile software application residing on a mobile device of the user. 
     
     
         10 . The system of  claim 8 , wherein the member identification is associated with an electronic wallet provided through the funds network. 
     
     
         11 . The system of  claim 10 , wherein the operations further comprise:
 receiving a second request from the user to convert a second payment to second funds, wherein the second request comprises at least a portion of the personal information and indicates to direct a first portion of the second funds to the reloadable debit card and a second portion of the second funds to the electronic wallet; and   responsive to receiving the second request:
 identifying the member identification for the user based on the portion of the personal information; 
 identifying the card number for the reloadable debit card based on the member identification; 
 identifying the electronic wallet based on the member identification; 
 converting the second payment to the second funds via the funds network; 
 directing the first portion of the second funds to the debit card account associated with the reloadable debit card based on the card number via a second electronic funds transfer to the computing system of the debit card manager; and 
 directing the second portion of the second funds to an electronic wallet account associated with the electronic wallet. 
   
     
     
         12 . The system of  claim 11 , wherein the debit card account is maintained by the debit card manager and the electronic wallet account is maintained by the funds network. 
     
     
         13 . The system of  claim 10 , wherein the electronic wallet is associated with a plurality of monetary repositories, and the operations further comprise:
 receiving a second request from the user to convert a second payment to second funds, wherein the second request comprises at least a portion of the personal information and indicates to direct the second payment to the electronic wallet;   responsive to receiving the second request:
 identifying the member identification for the user based on the portion of the personal information; 
 identifying the electronic wallet based on the member identification; 
 converting the second payment to the second funds via the funds network; and 
 directing the second funds to an electronic wallet account associated with the electronic wallet; and 
   automatically allocating at least a portion of the proceeds from the electronic wallet account to at least two of the plurality of monetary repositories.   
     
     
         14 . The system of  claim 10 , wherein the operations further comprise:
 receiving a second request to convert a second payment to second funds, wherein the second request comprises at least a portion of the personal information; and   responsive to receiving the second request:
 identifying the member identification for the user based on the portion of the personal information; 
 identifying the electronic wallet based on the member identification; 
 converting the second payment to the second funds via the funds network; and 
 directing the second funds to an electronic wallet account associated with the electronic wallet. 
   
     
     
         15 . A non-transitory computer-readable medium having program code that is stored thereon, the program code executable by one or more processing devices within a funds network for performing operations comprising:
 generating a member identification for a user; and   associating the member identification with an electronic wallet provided by the funds network;   associating, based on input provided by the user, the electronic wallet with a plurality of monetary repositories;   receiving a request from the user to transfer a first portion of funds from the electronic wallet to a first monetary repository of the plurality of monetary repositories and a second portion of the funds from the electronic wallet to a second monetary repository of the plurality of monetary repositories, wherein the request comprises the member identification; and   responsive to receiving the request:
 identifying the electronic wallet based on the member identification; 
 directing the first portion of the funds from an electronic wallet account associated with the electronic wallet to the first monetary repository via a first electronic funds transfer to a first computing system of a first entity associated with the first monetary repository; and 
 directing the second portion of the funds from the electronic wallet account to the second monetary repository via a second electronic funds transfer to a second computing system of a second entity associated with the second monetary repository. 
   
     
     
         16 . The non-transitory computer-readable medium of  claim 15 , wherein the request is received via a mobile software application residing on a mobile device of the user. 
     
     
         17 . The non-transitory computer-readable medium of  claim 16 , wherein the operations further comprise activating functionality on the mobile software application to allow the user to at least one of submit or transfer the funds through the funds network. 
     
     
         18 . The non-transitory computer-readable medium of  claim 15 , wherein the operations further comprise:
 receiving a second request from the user to convert a payment to additional funds, wherein the second request comprises the member identification; and   responsive to receiving the second request:
 identifying the electronic wallet based on the member identification; 
 converting the payment to the additional funds via the funds network; and 
 directing the additional funds to the electronic wallet account associated with the electronic wallet. 
   
     
     
         19 . The non-transitory computer-readable medium of  claim 15 , wherein the member identification is associated with a prepaid card, and the operations further comprise:
 receiving a second request from the user to transfer a third portion of the funds from the electronic wallet to the prepaid card, wherein the request comprises the member identification; and   responsive to receiving the second request:
 identifying the electronic wallet based on the member identification; 
 identifying the prepaid card based on the member identification; and 
 directing the third portion of the funds from the electronic wallet account to a prepaid card account associated with the prepaid card via an electronic funds transfer to a computing system of a prepaid card provider associated with the prepaid card. 
   
     
     
         20 . The non-transitory computer-readable medium of  claim 19 , wherein the electronic wallet account is maintained by the funds network and the prepaid card account is maintained by the prepaid card provider that is separate from the funds network.