COMMUNICATION PROTOCOL FOR ELECTRONIC FUNDS TRANSFER SYSTEMS

摘要

A method and system for the electronic transfer of funds utilizes a computerized facilitating agent and associated database which contains the addresses and operating protocols of all known accounts. A sender of funds instructs the facilitating agent as to the recipient and recipient's destination account and the amount to be transferred. Using the database, the facilitating agent can acquire the address of the recipient destination account and the protocols required for a transfer and effectuates the transfer utilizing available automated clearing house procedures without human intervention.