Abstract: A system and method for rapidly and securely transferring funds electronically between two points comprises a server coupled to a network. The server contains software that receives an initiation funds transfer request from a first terminal via a network; generates a transaction number; stores the transaction number and data associated with the initiation funds transfer request in a memory location of the server; sends the transaction number to the first terminal via the network; receives a completion funds transfer request from a second terminal via the network; confirms that the completion funds transfer request is valid; updates the memory location to indicate that the funds transfer is complete; and sends a confirmation notice, which includes an amount of funds to dispense, to the second terminal via the network.