US Patent 9626664 System and method for transferring funds

A method includes registering a public identifier for a recipient, including authenticating the public identifier; receiving a funds transfer request to transfer funds from a sender to the recipient, the request including the public identifier and being received from a second computer system, the first and second computer systems being associated with a first and second entity, respectively, the recipient having an account at the first entity and the sender having an account at the second entity; identifying the recipient based on the public identifier, including identifying account number information for the recipient based on the public identifier; depositing the funds into the account of the recipient based on the identified account number information; and providing a warranty to the second entity that the public identifier is valid, wherein the first entity is responsible for refunding money to the sender if the identifier is not validly associated with the recipient.