Title: System and method for remotely transferring sums of money or the like

DESCRIPTION .

The present invention relates to a system for. remotely transferring sums of money or. the like onto one's account. ^: .

. . . Below reference will be made to bank or insurance accounts, although this must not be regarded in a limiting sense.

It is known that, in order to be able.to credit money onto one's own bank of insurance account, there exist two possibilities, namely:

- transfer by means of remittances performed by a payer different from the owner of the account and therefore from an account other than the receiving account;

- paying-in of cash, cheques or other credit bills at a bank counter by the owner of the account.

Therefore, the need for the owner of an account to be able to perform remotely the paying-in or crediting of cash onto his/her own account is completely disregarded.

This need assumes particular importance when it occurs at the same time as other operations such as, for example, purchases made using a credit card (as such or in the form of cashpoint card).

The object of the present invention is to provide a system for transferring sums of money or the like which overcomes the drawbacks mentioned above.

This object is achieved by a method for transferring sums of money or the like in accordance with that described in Claims 1 to 10.

The invention also concerns a system for transferring sums of money or the like in accordance with that stated in Claims 11 to 16.

The invention relates furthermore to an identification and transaction card

for transferring sums of money or the like in accordance with that described in Claims 17 to 19.

The invention involves the following advantages:

- firstly it associates in a priority manner the transfer of money with discounts/savings obtained in respect of purchases made;

- the transfer of money is rapid and may be performed when required, telematically, without the need to go to a bank counter;

- the transfer is not limited by the amount which is to be transferred;

- the transfer is independent of the purchase of goods or services.

The invention allows the proprietor of the card to make real savings which grow slowly, but continuously in relation to ordinary and extraordinary expenditure.

Recognised service suppliers and traders are able to manage advertising programmes and projects associated with the invention, increasing or promoting their own sales and increasing profits.

The institutes managing the card according to the invention have the possibility of accumulating a considerable amount of money at a low management cost and over a long period of time.

The characteristic features and further advantages of the invention will emerge from the description, provided hereinbelow, of an example of embodiment thereof provided by way of a non-limiting example.

The method according to the invention allows the transfer of sums of money or the like in different ways.

According to a first procedure a user visits a supplier of goods (for example, a shop, a supermarket, a bookshop or the like) or a supplier of services (such as direct consultancy services, etc.) and makes a purchase.

The payment may be performed using any credit card/cashpoint card or the

like; at the same time, a percentage amount of the sum paid may be credited onto a savings deposit account which is the name of the card owner. This is performed by showing a second card — referred to below as "identification and transaction card" - which identifies the user, and the savings deposit account in his/her name onto which sums of money may be transferred. The identification and transaction card may also be used by persons other than the card owner, provided that the credit is made only onto the card owner's account.

The sum transferred may arise from a "discount" in respect of a purchase or may correspond to a sum which the user freely decides to pay, for example a percentage amount of the cost of the purchases.

Alternatively, if so wished by the goods or services supplier, the points accumulated on known "fidelity cards" may be converted into money and paid onto the user's savings deposit account, again by means of the identification and transaction card.

The identification and transaction card has an integrated circuit which contains information such as the code of the card, the date of issue, the details of the owner, etc., and is designed so that further information or applications may be added by the managing institute.

Alternatively the card may be provided with a magnetic strip for containing the information indicated above.

The transaction may be performed using POS (Points of Sale) systems or the like which are known per se.

' hi a preferred embodiment of the invention, the sum of money accumulated on the account may be managed by a controlling institute which guarantees the owner predefined conditions (for example a yield at least equivalent to inflation). Said management may be conducted in accordance with different policies:

- inaccessibility of the account until a predefined age is reached (for example retirement age) whereupon foil repayment is made;

- inaccessibility of the account until, a predefined age is reached (for example retirement age) whereupon repayment is made on a monthly basis (in the form of a regular amount); . . . ^• .

- repayment at predetermined time intervals in the case where the user has not yet reached the retirement age;

- use for the partial payment of mortgages or loans or the like also at an age prior to retirement age;

- a personalised scheme according to the user's requirements.

Only the owner of the card may negotiate with the controlling institute the operating conditions and may, on the basis of the operating policy chosen, cash the sum of money saved. .

Without affecting the policies for managing the money being saved or already saved, a variation of the method described envisages the possibility of making also a payment in cash following a purchase.

By means of the abovementioned identification and transaction card, it is possible to credit onto the purchaser's account a sum in accordance with the alternative solutions already described with reference to the first procedure.

By way of a further variant, also when not making a purchase and therefore when not effecting a payment for goods or services, the owner of an account, or anyone in possession of the identification and transaction card, may credit cash onto the owner's account. This may be performed at any cashpoint or in any case at any location equipped with a POS system or the like.

The method, as described in its different variations, is supported by a system for transferring sums of money or the like, where a card reading unit performs recognition of the card used; normally the unit in question is the known

POS system.

. Once the card has been introduced and read, the system reads the data contained on it and sends it to an information authentication unit. The transfer, is performed by means of conventional transmission means such- as, for example, a telephone network or via the Internet using fixed or wireless networks. The protocols used are the known information transfer protocols with suitable and known encrypting and anti-intrusion systems. .

The authentication unit checks the data received. Each credit institute which manages the credit cards and/or cashpoint cards is equipped with an authentication unit which has the function of recognising its own client requesting a transaction.

If the outcome of authentication is successful, the authentication unit authorises the reading unit which activates the operation for transfer of the money, the data for which are transmitted by transmission means such as those mentioned.

A receiving unit, in the case in question the server of the credit institute which manages the card, receives the data regarding the operation performed and records them.

The receiving unit transmits, via the usual transmission means, a confirmation that the operation has been successfully concluded.