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United States of America Patent
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Feb 12, 2013
Grant Date -
Jul 17, 2003
app pub date -
Jan 2, 2003
filing date -
Oct 26, 2001
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
According to the invention, a method for automatically processing an incoming payment for a payee with an online money transfer system. In one step, information is received at the online money transfer system. That information relates to processing of one or more received payments associated with the payee. At some point, the incoming payment associated with the payee is received. A default repository for the incoming payment is determined. It is determined whether to transfer at least some of the incoming payment away from the default repository or escrow at least a portion of the incoming payment for benefit of at least one predetermined party. Either the earmark or the escrow is applied after this determination.
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