The Toronto-Dominion Bank
SYSTEMS AND METHODS FOR CONFIGURING DATA TRANSFERS

Abstract:

A processor-implemented method is disclosed. The method includes: receiving a first request to configure a recipient database record for receiving one or more electronic data transfers, the first request including identifying information for the recipient database record; receiving a numerical indicator of value to be transferred via a first electronic data transfer to the recipient database record; sending, to a server configured for processing electronic data transfers, a second request to provide, to a transferor entity, an electronic data transfer authorization request, the second request being a request to transfer value to the recipient database record in a first amount corresponding to the numerical indicator of value; receiving, from the server, an indication of authorization for the electronic data transfer from the transferor entity; and increasing a database record value associated with the recipient database record by the first amount.