Patent attributes
A computerized network empowers senders to transfer funds and recipients to receive funds at any time anywhere over the world through user-accessible terminals such as ATM terminals, check-cashing kiosks, supermarket checkout stands, etc. There is no need for either the sender or the recipient to open an account with any financial institution; provided they each use an official identification document to complete the transaction. Furthermore, the disclosed network collects and verifies senders' and recipients' identification information in accordance with the anti-money laundering, anti-terrorist financing, and anti-fraud regulatory requirements, such as the Bank Secrecy Act and the USA PATRIOT Act in the United States and any equivalent laws in other countries.
