Importance

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Abstract

A computerized money transfer system implements a money transfer service for trasferring money from a sending entity to at least one receiving entity. A plurality of agent terminals operable by agents of the money transfer service are interconnected by a communications network. A money transfer control system is connected to the communications network for controlling the implementation of the money transfer service. The money transfer control system includes an agent account data store storing account data for each agent and a transaction data store storing transaction data for transactions by agents implementing money transfers from a sending entity to at least one receiving entity. When data is input to an agent terminal by a sending agent instigating a money transfer requested by a sending entity to at least one receiving entity, the data is transmitted to the money transfer control system. The input data identifies the sending and receiving entities, sending agent and at least one receiving agent that is to remit the money transferred thereto to the or each receiving entity. The money transfer control system records the input data in the transaction data store as a transaction from a sending agent to at least one receiving agent for a sending entity and at least one receiving entity and updates the agent account data in the agent account data store for the sending and receiving agents.

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First Claim