WO2001042945A1

WO2001042945A1 - Monetary funds transfer system

Info

Publication number: WO2001042945A1
Application number: PCT/US2000/003452
Authority: WO
Original assignee: Givecash.Com; Heggenhaugen, Rolv., E.
Priority date: 1999-12-10
Filing date: 2000-02-09
Publication date: 2001-06-14
Also published as: AU4639900A

Abstract

Receiving a request at a host computer system (150) to transfer funds, and transferring funds to an account associated with the recipient, and distributing (154) a payment media that includes a digitally stored identifier of the recipient account. Exchanging data over a network (158) coupling a funds transfer system to client terminals (101-105). Coupling a funds transfer system to at least one financial transaction clearing system. Receiving a monetary funds transfer request at the network interface from one of the client terminals (101-105) and can include a monetary value designation, a recipient designation, and a transferor designation. Drawn funds can be transferred to a second account that is associated with a recipient (101-105) at a different financial transaction clearing system than a first account.

Description

MONETARY FUNDS TRANSFER SYSTEM

CROSS-REFERENCE(S) TO RELATED APPLICATIONS

This application claims the benefit of the filing date of U.S. provisional application serial number 60/163,598 entitled "Online Method & System for Providing Cash" which was filed on November 4, 1999.

BACKGROUND OF THE INVENTION

Electronic funds transfer systems can enable transfer of funds between a user's existing accounts using, among other things, a telephone keypad and/or web browser interface. In general, the on-demand transfer of funds using such systems is restricted. In some funds transfer systems, a user can transfer funds among the user's own accounts, but cannot transfer funds to another a third parties account. In other systems, a user may be able to transfer funds to a third party, however, such transfers may require the user to enter a complex set of codes obtained from the third party. For example, the third party may need to disclose a bank routing number and account number to the transferor and the transferor may need to provide the bank routing number and account number to the funds transfer system. Funds transfers are further restricted when the third party does not have an account that can accept electronic transfers. Consequently, improvements in systems that can be used to transfer funds among parties are desired.

SUMMARY OF THE INVENTION

In general, in one aspect, the invention features a computer implemented method of transferring monetary funds from a transferor to a transferee (a "recipient"). The method includes receiving a request at a host computer system to transfer the funds. The funds may then be drawn from an account associated with the transferor's and transferred to an account associated with the recipient. A payment media that includes a digitally stored identifier of the recipient account can then be distributed to the recipient.

In general, in another aspect, the invention features a funds transfer system. The funds transfer system includes a network interface, a financial system interface, a processor, and memory. The network interface is configured to exchange data over a network operatively coupling the funds transfer system to client terminals. The financial system interface operatively couples the funds transfer system to at least one financial transaction clearing system. The processor is operatively coupled to the network interface, the financial system interface and to a memory that includes software instructions to configure the processor to process a monetary funds transfer request, exchange data over the financial system interface, and transfer monetary funds to a recipients account. The monetary funds transfer request can be received at the network interface from one of the client terminals and can include a monetary value designation, a recipient designation, and a transferor designation. The data exchanged over the financial system interface can draw funds from a financial transaction clearing system that manages an account associated with a transferor. The drawn funds can be transferred to a second account that is associated with a recipient. The second account may be at a different financial system than the first account.

Implementations may include one or more of the following features. The financial transaction clearing system can be a credit card transaction processing system and the transferor's account may be a credit card account. Funds may be drawn from the transferor's credit card account by transmitting a credit authorization message to the credit card transaction processing system and receiving a credit authorization approval from the credit card transaction processing system. When the credit card authorization approval is received, the funds can be considered by the host system as being "drawn" and available for transfer to the recipient (an actual transfer of funds from the transferor's account may occur after the approval is received; to complete the funds transfer to the recipient, the host system may transfer funds from a host-system managed account rather than waiting for an actual funds transfer from the transferors account). The recipient's account may be a debit account that may be dynamically created by the host computer system by exchanging account creation messages with a financial transaction clear system that manages the debit account. The funds transfer system can also include financial transaction clearing functionality to enable creation of the recipient's account at the funds transfer system. Funds transferred into the recipient's account may be accessible from an automatic teller machine (ATM) using the distributed payment media (e.g., an ATM card). The payment media can be a magnetic strip card that stores digitally encoded data, such as an account identifier. The digitally encoded data can be stored, among other ways, magnetically, electrically, and/or optically. The transferred funds may be deposited in an account identified by the account identifier stored on a magnetic strip or smart card payment media. Payment media may be distributed to the recipient by automated distribution of the media. For example, the funds transfer system can automatically generate package labeling and/or packaging instructions.

Implementations also may include one or more of the following features. The request to transfer funds can include an electronic messaging address associated with the recipient (e.g., an E-mail address or an instant messaging address), and an electronic message containing a personal identification number or other payment media activation code can be sent by to the recipient. An electronic message sent to the recipient also could include electronic advertisements, advertiser hyperlinks, an electronic greeting card and/or other information. For example, the message may include an electronic greeting card for a celebratory occasion (such as a birthday, graduation, wedding, or birth) that accompanies a cash transfer intended as a gift to the recipient. Implementations also may include electronically sending a funds transfer form to a client terminal from the host system. The funds transfer form allows the transferor (i.e., the transferor) to specify the details of the funds transfer. The funds transfer form may be implemented using HTML code, JavaScript, a Java program, or may be in another data format, and can include input entry form fields that enable the entry of the monetary value to be transferred, a recipient designation, and other data. The entered data is received at the funds transfer system upon completion of the funds transfer form at the client terminal. Completion of the form may occur when the transferor selects a "send" hypertext link at his or her web browser, causing the entered data to be sent to the host system via a hypertext transfer protocol (HTTP) POST data transfer. In general, in another aspect, the invention features a computer-implemented method for transferring funds that includes generating bank draft image data that can be sent to a recipient from a host system. The bank draft image data may be printable at the recipient's computer and may be deposited or transferred by the recipient in paper form (i.e., the printed bank draft image may be accepted and processed in the manner of a personal check, money order, or guaranteed bank draft). The bank draft image data (which may include an identifier of an account managed by the host system or by another financial transaction clearing system or institution) may be generated at the host system in response to a request from a transferor to transfer monetary funds to a recipient. The method also includes drawing the monetary funds associated with the bank draft from an account associated with the transferor and transferring the monetary funds to an intermediate account from which the funds can be accessed using the bank draft image data.

Implementations may include one or more of the following features. The generated bank draft image data may include data identifying a value of the monetary funds and/or a recipient identifier. The image data also can include a fraud prevention digital signature that is dependent on the value of other data fields (e.g., the monetary fund value, the recipient identifier, date, time, and/or other banking data). The bank draft image data maybe printable at the recipient's terminal but not at other terminals. For example, printing may be limited to a single terminal using the Adobe Acrobat 4.0® data format using Adobe Web Buy® security technology to convey the bank draft data to the recipient. Other security mechanisms also may be used. Implementations also may include drawing transaction charge funds from the transferor's account. Aspects of the invention can be implemented by software instructions stored on a computer-readable mediums that configure a computer system to perform methods and processes described herein.

The details of one or more embodiments of the invention are set forth in the accompanying drawings and the description below. Other features, objects, and advantages of the invention will be apparent from the description and drawings, and from the claims.

DESCRIPTION OF THE DRAWINGS

Fig. 1 shows a funds transfer system. Fig. 2 depicts funds transfer processing.

DETAILED DESCRIPTION OF THE INVENTION

Fig. 1 shows components of an on-line funds transfer system 100. The system 100 includes a host computer system 150 and client computers 101-105. The host system 150 includes, among other things, one or more transaction processing computers 151 and databases 152 that can accept and process request to transfer monetary funds (e.g., cash) between different parties. Fig. 2 overviews a funds transfer process that may be implemented using the system of Fig. 1.

The host system 150 can be used to implement a web site for sending cash from a transferor to a transferee (a "recipient"). The transferor can log onto the funds transfer host system 150 from a client computer 101-105 and can use a credit card account, checking account, debit card account, or other account as a monetary source from which to transfer funds. The recipient may be supplied with an automatic teller machine (ATM) or other debit card, a prepaid credit card, a smartcard storing a cash equivalent, or other payment media that can be provided from the host 150 to the recipient and which allows the recipient to access the transferred funds. An implementation using ATM card payment media can allow the recipient to access the transferred funds using an ATM machine, can provide direct cash receipt of the transferred funds, and can facilitate receiving funds in the recipient's local currency (which may be different from the local currency used by the transferor). Conversion between currencies may occur automatically by a transaction clearing systems 170 or by the funds transfer system 150 using exchange rate data in a database 152. The operation of system 100 will now be explained with reference to an exemplary transfer of a "cash" gift from a transferor to a recipient.

To transfer funds, such as a cash gift, to a recipient, the transferor uses a client computer 101-105 to retrieve a funds transfer request form (the "transfer request form") from the host 150 and to specify details of the funds transfer. The transferor's client computer 101- 105 may include web browser software that performs a hypertext transfer protocol (HTTP) GET operation to retrieve the transfer request form from the host 150. The host 150 responds to the HTTP GET operation by returning transfer request form data to the transferor's web browser. The transfer request form data can include hypertext markup language (HTML), Java, JavaScript, ActiveX, an executable program, and/or other data that, when processed by the transferor's web browser and client computer, results in a display of instructions and/or fill-in form fields to the transferor. The transferor can then enter funds transfer data in the displayed fill-in form fields. The entered funds transfer data may includes the transferor's name, address, an account from which funds are to be drawn, a recipient of the transferred funds, as well as the recipient's address, e-mail, phone number, and other information. The transfer request form data also may allow the transferor to select from various optional service such as sending an electronic greeting card, sending a "standard" mailed greeting card and/or sending another type of notification to a recipient. In some implementations, the transferor also may indicate that paper-based greeting cards and letters are to be printed at host printing equipment 156 and sent to the recipient.

When the transferor has completed transfer request form data entry, the entered data is sent from the transferor's web browser to the host 150 using a HTTP POST operation. The HTTP POST operation may be initiated by the transferor upon his or her selection of an order completion function that is accessible from the displayed transfer request form. In some implementations, the transfer request form may include multiple sections that are separately retrieved from the host 150, presented to the transferor, and used to return data to the host. For example, a first section may be retrieved from the host 150 and used to collect transferor data from the transferor. After the transferor data is transmitted to the host 150 (by a HTTP POST operation), a second transfer request form section may be sent from the host 150 to the transferor's web browser and used to collect recipient information which is subsequently sent to the host 150.

The host 150 uses the "received transferor and recipient information to transfer funds from a transferor's account to the recipient. The transferor's account may be a pre- established account that is managed by the host system 150. A transferor can pre-establish an account by a wire, check, credit card, or other funds transfer to host system 150 or to an associated host system operator or financial management system. The host system database 152 may be used to track funds deposited in, and drawn from, the pre-established accounts.

The transferor's account also can be an account at an independent financial transaction clearing system 160 that is accessible to the host 150. By way of example, the financial transaction clearing system 160 may be a credit card transaction clearing system. The host system 150 may interact with, and draw fund from, a credit card transaction clearing system 160 as if the host 150 were a merchant's credit card terminal. That is, when a transferor accesses host 150 to transfer funds to a recipient, the host system 150 generates a credit card purchase approval request in the amount of the funds to be transferred (as well as for any transaction charges that may be imposed by the system 150). The purchase approval request is then sent to the credit card transaction clearing system 160 and the system 160 responds by sending a credit approval or denial code to the host 150. Funds can be considered "drawn" from the transferor's account and transferable to the recipient as soon as a credit approval is received by the host 150. However, since an actual funds transfer from the clearing systems 160 to a host 150 account may require a few days, the host system 150 may need to maintain a separate "operating funds" account from which funds can be immediately drawn and transferred to the recipient. The operating funds account can be an account managed by the host 150 or by another financial transaction clearing system 170. The transferor may receive a record of the funds drawn from the system 160 as part of the normal billing and account processing functions of the system 160. The transferor's funds also may be transferred from other types of accounts. For example, the transaction clearing system 160 may be a bank's debit/checking account management system, and the transferor may select a purchase option to deduct funds from a checking or debit account managed by the system 160. The host system 150 may, as part of the transfer request form, request a bank routing number and account number identifying the transferor's account at the system 160.

After drawing the transferor's funds, the host system 150 transfers the drawn funds to the recipient. Different funds transfer mechanisms can be used to transfer funds to the recipient. Fund transfer mechanisms include, among others, crediting of an existing credit or debit account managed by the host 150 or by a financial transaction clearing system 170, or dynamically creating and crediting a credit or debit account at the host 150 or system 170. For example, in the course of processing the funds transfer request, a debit account can be created at a system 170 and the transferred funds can be credited to that debit account. In addition, a payment media can be distributed to the recipient to allow access to the created debit account. An implementation in which the host 150 transfers fund to the recipient by crediting a debit or credit account will now be described. This account crediting implementation can also include automatic distribution of a payment media, such as an automatic teller machine (ATM) card, from the host 150 to the recipient. Alternatively, the credited account may be associated with a payment media already in the possession of the recipient. The payment media provides a way for the funds transfer recipient to access transferred funds and can enable access to the funds in a cash or cash equivalent form. For example, funds transferred to a debit account can be accessed in cash at an ATM machine using an associated ATM card. Similarly, funds transferred to a credit card account can be accessed as a cash equivalent using a credit card.

Payment media distributed by the host system 150 can include plastic card media having a magnetic data recording strip. The host system 150 may format magnetic strip payment media by storing account, recipient, security, and/or other information on the magnetic strip using data writing equipment 153. Payment media can also include smart card media that includes an embedded processor and memory for storing data and that can be read and written using a smart card reader 153. The host system 150 may include media printing equipment 155-156 to visibly print information such as an account number and a recipient's name on the payment media. The media printing equipment 155-156 may include raised letter stamping equipment 155, labeling equipment, thermal, ink-jet, electrostatic printing, and/or other printing equipment 156. Media printing equipment 155-156 also can be used to print advertising and other messages on the payment media. For example, the printing equipment 155-156 can be used to print a logo, image, or descriptive text on the payment media. After the payment media has been prepared by the host system 150, it can be distributed to the recipient by automated distribution equipment 154. The equipment 154 can include automated packaging and/or labeling equipment for the preparation of postal mailings. The system 100 can implement security features to prevent account access by unauthorized parties. Security features can include, among other things, requiring proper activation of payment media before it can be used to access an account and/or requiring that the payment media be used in conjunction with an activation code. The host 150 may have electronic messaging (E-mail), postal mailing, and/or voice telephone network interfaces that are used to implement such security features. Improper access to recipient a .counts may be prevented by requiring that the payment media be used in conjunction with an activation code. An example of a payment media that may require the use of an activation code is an ATM card. In general, an ATM card is used to access a debit account by placing the ATM card in a ATM machine's card reader and entering an activation code (also know as a personal identification number or PIN) at a numeric keypad. The host 150 can generate the activation code and send it to a recipient separate from the delivery of the payment media. Separate delivery of the activation code and payment media can reduce any opportunity for an improper party to intercept both of these required account access items. Separate delivery of the payment media and an activation code can include separation by delivery method and/or separation by delivery time. Delivery method separation includes sending the payment media and activation code by different delivery routes. For example, the payment media can be send by postal delivery and the activation code may be delivered using an E-mail message or automated voice calling system. Separation by delivery time is accomplished by sending the payment media and activation code at different times to help ensure that they do not simultaneously arrive at a recipient's locale. For example, the activation code may be mailed to the recipient a few days after the payment media is mailed.

Data used for security and/or other host 150 functions may be obtained using fields on the funds transfer request form. For example, a funds transfer request form may include fields in which a transferor enters a recipients e-mail address and home address. Data about the recipient and/or about the transferor also can be obtained from user data profiles stored in a host system database 152. User data profiles can provide a short-cut mechanism for completing forms as well as a mechanism to reduce the amount of personal information that recipients and transferors need to disclose to each other. User data profile can include personal information such as a user's e-mail address, home phone number, mailing address, funds transfer preferences, and account information. The funds transfer preferences may identify preferred means by which to receive funds and the account information can identify accounts into which funds may be deposited or from which funds can be drawn.

Each data profile can be associated with an identifier generated by the system 150 or chosen by a user. A user's data profile identifier can be disclosed to another party and used for funds transfer purposes. For example, a recipient can disclose the recipients data profile identifier to a transferor and the transferor may enter the recipient's data profile on a funds transfer request form rather than directly entering data about the recipient. The transferor may also enter his or her own profile identifier rather than directly enter transferor data on the request form. The system 150 may secure data profiles using a password and the password may need to be entered on a funds transfer request form in order to use a particular data profile identifier as a transferor's data profile identifier.

The host 150 also can provide security though a media activation procedure that prevents use of the payment media prior to its activation by the recipient. The media activation procedure may be provided using an activation system 157 that implements phone- in and/or web-based activation. A phone-in activation system 157 can includes an interface to a public telephone network 11 1. The activation system's telephone network interface can be used to receive phone calls as well as a calling party number delivery interface used to receive calling party identification information from the telephone network 1 1 1. For example, the system 157 can have a basic or primary rate Integrated Services Digital Network (ISDN) interface, an analog phone network interface with Caller-ID equipment, a signaling system seven (SS7) interface, or other network 1 1 1 interface that enables receipt of a voice phone call and the delivery of the calling party phone number.

A phone-in activation procedure implemented using activation system 157 includes the receipt of an activation phone call that must be placed from a predetermined phone, such as the recipient's home phone. When a telephone call is received at the activation systems 157 interface to the network 111, call switching equipment in the network 111 transmits the calling party phone number to the activation system 157 using the calling party number delivery interface. The calling party phone number is automatically generated by telephone network switching equipment and can be used by the host system 150 to ensure that the activation phone call is being placed by the proper recipient. To confirm that the activation call is being made by the proper recipient, the system 157 queries media activation records in the database 152 to determine whether the received calling party phone number matches a predetermined phone number associated with a known recipient. If the received and expected phone numbers match, the payment media is activated. Otherwise, activation may fail and a security announcement may be made. The system 157 may obtain additional information from the calling party before searching for a match between the received and expected phone numbers. For example, the calling party may need to use his or her touch-tone telephone keypad to enter an account number printed on the payment media. The entered account number may be used by the activation system 157 as an additional matching and querying parameter. An activation system 157 may include a web-based activation interface. To activate a payment media using a web-based interface, a recipient may connect to the activation system 157 using a web browser and may be prompted to enter an account number, a password and/or other "secret" data to activate the payment media. If the account number, the password, and/or other secret data match an expected response, the payment media is activated by the system 152. The "expected response" data may be data stored in a recipient's data profile or a response provided by the transfer on a transfer request form. Activation of payment media by system 157 can include updating a record in the host system's database 152 and/or in another financial transaction clearing system 160, 170.

Implementations of the funds transfer system 100 can support other types of funds transfers. For example, funds can be transferred to a recipient by posting a credit or payment to an existing credit card, debit card, or checking account. The credited account may be identified by data entered by the transferor on the transfer request form or by data in a recipient's data profile. The recipient's data profile may include preference data that indicates the recipients preferred funds receipt method. In some implementations, after the transferor enters a funds transfer request, the system 150 may send a message (by e-mail, letter, phone call, or otherwise) to the recipient to indicating that fund have been transferred to the recipient. The recipient may then connect to the host 150 using a web browser to specify the preferred means by which to receive the transferred funds. A phone-in interface that is controlled using a touch-tone telephone or other interface may be used in place of a web browser interface.

Implementations also can transfer funds using an electronic "check" distribution mechanism in which the host 150 generates and transmits a printable "check" data file to the recipient. The "check" data file can contain HTML data, XML data, Adobe Acrobat portable document format (PDF) data, or other data that can be printed to produce a paper check document. The printable check data can include the payee's name (i.e., the recipient's name), check value information, data and time information, and payor bank account information (such as a bank routing number and an account number). The printed check can include security information to prevent forgery, alteration, or re -use of the check. For example, the host system can use digital signature and encryption techniques to ensure that the payor, payee, amount, time and date information, account number information, and other check information is not altered. A recipient can check the authenticity of a received check document by accessing the host system 150 using a web browser and entering requested check information to see if a matching digital signature is generated and to confirm that the check has not already been cashed. Encryption and other security techniques can be used to restrict printing of the check data filer. For example, printing of a check data file using the Adobe Acrobat 4.0® data format can, by using Adobe's Web Buy® security technology, be restricted to a single client computer. Other security mechanisms, such as a hardware key (also known as a "dongles") can be used.

A number of embodiments of the present invention have been described. Nevertheless, it will be understood that various modifications may be made without departing from the spirit and scope of the invention. For example, the host system 150 may include computer system components 151-157 that are co-located and directly connected to each other or components 151-157 may be at different locations and connected by a network 158. Network 110 can be the Internet network or other TCP/IP-based network and host system 150 may include hypertext transfer protocol (HTTP) server software allowing host 150 access using a web browser at a client computers 101-105. Web browsers can include, among others, the Microsoft Internet Explorer web browser or the Netscape Navigator browser Other implementations can use different access software and network communication mechanisms; for example, instead of, or in addition to, web browser access software, the host 150 may support text-based terminals, direct dial-up terminals, personal digital assistants (PDAs), and other access software such as a Lotus Notes® client. The network 158 may be the same network as network 110 or may be a different network

Implementations also can allow additional transfers to increase a value stored in the recipient account. For example, when the host 150 can receive a request to transfer funds to a recipient, the host 150 may check database 152 to determine whether the recipient has previously received a payment media. If so, a present value of an account associated with the previously received payment media funds may be increased by funds from the new transfer to the existing account. A greeting card or notification may then be sent to the recipient informing the recipient of the transfer and added funds, may be credited to.

Implementations may allow for the transfer of predetermined values (for example, a transferor may be limited to four values for the transferred monies:"$25", "$50", "$75", and "$100"), alternatively, the system 150 can allow values to be freely chosen (that is, the transferor can specify a particular dollar and cent value of a transfer).

A client computers 101-105 can be personal computers executing a web browser and an operating system such as Microsoft Windows^®, Unix , PalmOS , Windows CE , Apple MacOS^®, a Java-based operating system, or Linux. A client computer 101-105 can also be terminal device or a palm-type computer WEB access device that adheres to a point-to-point or network communication protocol such as the Internet protocol. Other exemplary client computers 101-105 can include TV WEB browsers, vtlOO terminal, and wireless access devices (such as a 3-Com Palm Nil organizer). A client computer may include a processor, RAM and/or ROM memory, a display capability, an input device and hard disk or other relatively permanent storage.

Payment media may have an associated expiration date and fund transferred to a recipient may be returned to the transferor or a notification or new payment media may be sent to the recipient if the funds are not used prior to the expiration date. This can help to ensure that funds are not made inaccessible if a payment media is lost or damaged. Implementations may impose a limit on the amount of cash that can be transferred to a recipient account and/or that can be accessed using a payment media card.

Implementations can support scheduled funds transfers. For example, a transferor can use a web browser to access an electronic calendar function at the host 150 and schedule payments or gifts on particular days or calendar intervals. Calendar intervals may include, for example, a weekly payment, a monthly payment or an annual payment. Scheduled payment information can be stored in a transferor's data profile or as other data in the database 152.

The host system 150 may impose transaction fees for funds transfers and may draw the transaction fees from the same account as the transferred funds. The transaction fees may be a percentage of the transferred amount, may be a flat-rate fee, or may be determined by another method. The invention may be implemented in digital electronic circuitry, or in computer hardware, firmware, software, or in combinations of them. Apparatus of the invention may be implemented in a computer program product tangibly embodied in a machine-readable storage device for execution by a programmable processor; and method steps of the invention may be performed by a programmable processor executing a program of instructions to perform functions of the invention by operating on input data and generating output. The invention may advantageously be implemented in one or more computer programs that are executable on a programmable system including at least one programmable processor coupled to receive data and instructions from, and to transmit data and instructions to, a data storage system, at least one input device, and at least one output device. Each computer program may be implemented in a high-level procedural or object-oriented programming language, or in assembly or machine language if desired; and in any case, the language may be a compiled or interpreted language. Suitable processors include, by way of example, both general and special purpose microprocessors. Generally, a processor will receive instructions and data from a read-only memory and/or a random access memory. Storage devices suitable for tangibly embodying computer program instructions and data include all forms of non-volatile memory, including by way of example semiconductor memory devices, such as EPROM, EEPROM, and flash memory devices; magnetic disks such as internal hard disks and removable disks; magneto-optical disks; and CD-ROM disks. Any of the foregoing may be supplemented by, or incorporated in, specially-designed ASICs (application-specific integrated circuits).

Other embodiments are within the scope of the following claims.

Claims

WHAT IS CLAIMED IS:

1. A computer implemented monetary funds transfer method comprising: receiving a request at a computer system to transfer monetary funds to a recipient from a transferor, the request comprising a value of the monetary funds to be transferred; drawing monetary funds from an account associated with the transferor; distributing a payment media to the recipient, the payment media comprising a digitally stored value enabling access to monetary funds.

2. The method of claim 1 further comprising transferring the drawn monetary funds to a recipient account, and wherein the digitally stored value comprises an identifier of the recipient account.

3. The method of claim 1 wherein the account associated with the transferor comprises a credit card account.

4. The method of claim 3 wherein drawing the monetary funds comprises: transmitting a credit authorization message from the computer system to a credit card transaction processing system; and receiving a credit authorization approval from the credit card transaction processing system.

5. The method of claim 2 wherein the recipient account comprises a debit account.

6. The method of claim 5 wherein the payment media comprises an automatic teller machine card.

7. The method of claim 6 wherein the request comprises an electronic messaging address associated with the recipient and the method further comprises sending an electronic message to the recipient.

8. The method of claim 7 wherein the electronic message comprising an automatic teller machine card activation code.

9. The method of claim 7 wherein sending the electronic message further comprises sending an electronic advertisement and an advertiser hyperlink.

10. The method of claim 1 further comprising sending a greeting message to the recipient, the greeting message comprising data received at the computer system in the request.

11. The method of claim 10 wherein the greeting message comprises an electronic greeting card comprising a celebratory occasion message and the request further comprises an identification of the celebratory occasion.

12. The method of claim 1 wherein: the method further comprises sending funds transfer form data to a client terminal from the host system, the funds transfer form data comprising a monetary value form field and a recipient designation form field; and receiving the request comprises receiving the value of the monetary funds to be transferred and a recipient designation in response to a completion of processing of the funds transfer form data at the client terminal.

13. The method of claim 1 wherein the request comprises a designation of the recipient.

14. The method of claim 2 wherein: the payment media comprises a magnetic strip card; the digitally stored identifier comprises a credit card account identifier; and transferring the monetary funds comprises depositing the monetary funds in a credit card account associated with the credit card account identifier.

15. The method of claim 1 wherein receiving the request comprises receiving the request from a client terminal operatively coupled to the computer system by a network.

16. The method of claim 15 wherein receiving the request comprises receiving a hypertext transfer protocol POST messages comprising data designating the monetary value.

17. The method of claim 1 wherein the computer system comprises a web server comprising hypertext transfer protocol processing software.

18. The method of claim 1 wherein the payment media comprises a smart card comprising a processor and memory.

19. The method of claim 2 further comprising magnetically storing the identifier of the recipient account on the payment media.

20. The method of claim 1 wherein the request comprises a recipient delivery address and distributing the payment media comprises automatically printing package labeling comprising the recipient delivery address.

21. The method of claim 1 further comprising: receiving a request at the computer system to transfer monetary funds to the recipient from a second transferor; drawing second monetary funds from an account associated with the second transferor; and increasing a present monetary value of the recipient account a value of the second monetary funds.

22. The method of claim 21 wherein the transferor and the second transferor are a same transferor.

23. The method of claim 1 wherein the monetary funds transferred to the recipient account are not limited to a predetermined value.

24. A computer-implemented method for transferring funds, the method comprising: receiving a request at a computer system to transfer monetary funds to a recipient from a transferor; drawing the monetary funds from an account associated with the transferor; transferring the monetary funds to an intermediate account; generating bank draft image data comprising an identifier of the intermediate account; transferring the bank draft image data to a recipient's terminal to enable printing of the bank draft.

25. The method of claim 24 wherein the generated bank draft image data comprises a value of the monetary funds and a fraud prevention digital signature dependent on the value of the monetary funds.

26. The method of claim 24 wherein the generated bank draft image data further comprises a recipient identifier and the fraud prevention digital signature is further dependent on the recipient identifier.

27. The method of claim 24 wherein the generated bank draft image data further comprises security data enabling printing of the bank draft image data by the recipient's terminal but preventing printing of the bank draft image data at other terminals.

28. A computer implemented monetary funds transfer method comprising: sending a electronic data collection form from a host system to a client terminal in response to a hypertext transfer protocol request from a browser at the client terminal; receiving a monetary fund "value, a recipient designation, and a credit account identifier in response to the sending of the data collection form to the client terminal; drawing monetary funds from a credit account identified by the credit account identifier, the monetary funds having a value identified by the received monetary fund value; transferring the monetary funds to a debit account accessible by an automatic teller machine card; and distributing the automatic teller machine card to a recipient identified by the recipient designation.

29. The method of claim 28 further comprising drawing transaction charge funds from the credit account identified by the credit account identifier.

0. A funds transfer system comprising: a network interface configured to exchange data over a network operatively coupling the funds transfer system to a plurality of client terminals; a financial system interface operatively coupling the funds transfer system to at least one financial transaction clearing system; a processor operatively coupled to the network interface, the financial system interface and to a memory comprising instructions to configure the processor to: process a monetary funds transfer request received at the network interface from one of the client terminals, the monetary funds transfer request comprising a monetary value designation, a recipient designation, and a transferor designation; exchange data over the financial system interface to draw funds from a financial transaction clearing system comprising a first account associated with a transferor; transfer the drawn monetary funds to a financial transaction clearing system comprising a second account associated with a recipient.

31. The system of claim 30 wherein the network interface comprises an interface configured to operatively couple the funds transfer system to the Internet.

32. The system of claim 30 wherein the financial system interface comprises an interface configured to operatively couple the funds transfer system to a network comprising the at least one financial transaction clearing system.

33. The system of claim 32wherein the financial transaction clearing system comprising the first account comprises a credit card transaction processing system.

34. The system of claim 32 wherein the financial transaction clearing system comprising the first account comprises a debit account transaction processing system.

35. The system of claim 34 wherein the funds transfer system is configured to exchange data over the financial system interface to establish the second account at the debit account transaction processing system.

36. The system of claim 30 further comprising: a payment media distribution system operatively connected to the processor; and wherein the memory further comprises instructions to cause the processor to send data to the payment media distribution system to distribute a payment media associated with the second account to a recipient.

37. The system of claim 36 wherein the payment media distribution system comprises a data writing device to digitally store data on the payment media.

38. The system of claim 37 wherein the payment media comprises a magnetic strip card and the data writing device comprises a magnetic strip card writer.

39. The system of claim 36 wherein the payment media distribution system further comprises an automated packaging system and the instructions to cause the processor to send data to the payment media distribution system comprise instructions to send labeling data.

40. A computer program residing on a computer-readable medium, comprising instructions for causing a computer system to: receive a request to transfer monetary funds to a recipient from a transferor; draw the monetary funds from an account associated with the transferor; transfer the monetary funds to a recipient account; and distribute a payment media to the recipient, the payment media comprising a digitally stored identifier of the recipient account.

41. The program apparatus of claim 40 wherein the instructions to draw the funds from the account associated with the transferor comprise instructions to draw the funds from a credit card account.

42. The program apparatus of claim 41 wherein the instructions to draw the funds from a credit card account comprise instructions to: transmit a credit authorization message to a credit card transaction processing system; and receive a credit authorization approval from the credit card transaction processing system.

43. The program apparatus of claim 40 wherein the instructions to transfer the monetary funds to a recipient account comprise instructions to transfer the monetary funds to a debit account.

44. The program apparatus of claim 43 wherein the payment media comprises an automatic teller machine card and the instructions to distribute the payment media comprise instructions to associate an identifier of the recipient account with an identifier stored on the payment media.

45. The program apparatus of claim 44 further comprising instructions to send an electronic message comprising an automatic teller machine card activation code to the recipient.

46. The program apparatus of claim 45 further comprising instructions to send a greeting message to the recipient.

47. The program apparatus of claim 40 further comprising instructions to: send funds transfer form data comprising a monetary value form field and a recipient designation form field to a client terminal; and receive the request comprises receiving a monetary value and a recipient designation in response to a completion of processing of the funds transfer form data at the client terminal.

48. The program apparatus of claim 40 wherein the instructions to receive comprise hypertext transfer protocol processing instructions.