Customer controlled account, system, and process

• US 10,055,945 B2
• Filed: 10/20/2011
• Issued: 08/21/2018
• Est. Priority Date: 07/14/2006
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Mackouse, Jack
• Primary Examiner(s): Yu, Ariel J
• Application Number:
  US13/277,514
• Publication Number:
  US 20120109822A1
• Time in Patent Office: 2,497 Days
• Field of Search: None
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0621 Item configuration or customization
• CPC Class Codes: G07F 19/00 Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines data processing equipment for bank accounting G06Q40/02

Abstract

Access devices like credit cards and/or check cards have enhanced security features that allow a customer to control circumstances under which their account is accessed. Fraudsters may try to access the account without the knowledge of the consumer set controls, the system takes remedial action with reduced instances of false positives. An account is established for an account holder through a central entity, e.g. an issuer. At least one user is associated with the access device that is established for one or more transactions. Use of the access devices is defined by a set of rules defined by the central entity and are controllable by the customer, including comprising any of the account holder and the user of the account. The customer inputs, controls, and/or updates parameters associated with the customer-controllable rules. Subsequent authorization of the access devices is controlled based on the customer input and other controls.

Claims

1. A process implemented across a network, comprising:

establishing, by a banking computer system of a financial entity providing a financial account, a first set of rules associated with the financial account and related to a first set of parameters, the first set of rules established and controlled by the banking computer system, wherein the banking computer system is configured to determine results for financial transactions between a customer associated with the financial account and merchants;

establishing, based on inputs received from a customer computer system, a second set of rules associated with the financial account, the second set of rules customizable by the customer, the customer comprising at least one of an account holder and a user associated with the financial account;

receiving, by the banking computer system, a request for a transaction associated with the financial account, the request containing identification associated with the financial account; and

responding, by the banking computer system, to the requested transaction based at least in part on the first set of rules and the second set of rules, including;

sending, to a mobile device of the customer, a notification when the requested transaction would be declined based on at least one of the second set of rules;

receiving, from the mobile device of the customer, a response to the notification; and

allowing the customer to override the at least one of the second set of rules to permit the transaction that would be declined, based on the response received from the mobile device of the customer, wherein allowing the customer to override the at least one of the second set of rules changes the second set of rules only temporarily within dates of travel to foreign destination specified by the customer.

2. The process of claim 1, wherein the response to the transaction request comprises any of

an authorization of the requested transaction if the transaction complies with both the first set of rules and the second set of rules, and

a decline of the requested transaction based upon both the first set of rules and the second set of rules.

3. The process of claim 1, wherein responding to the requested transaction comprises a decline of the requested transaction based upon both the first set of rules and the second set of rules, and a notification of the decline to any of the customer and another entity.

4. The process of claim 3, wherein the banking computer system is configured to

accept customer input which changes at least one rule of the second set of rules;

and

authorize the requested transaction in response to the customer input if the requested transaction complies with both the first set of rules and the second set of rules after the change.

5. The process of claim 1, wherein responding to the requested transaction comprises any of an approval of the requested transaction and an initiation of any of a notification and a communication with the customer, if the requested transaction complies with each of the second set of rules and does not comply with at least one of the first set of rules.

6. The process of claim 1, wherein responding to the requested transaction comprises an approval that is conditionally based upon customer input.

7. The process of claim 1, wherein the second set of rules that are controllable by an account holder are accessed by the account holder through any of a user terminal, a phone connection, a terminal associated with the issuer, and personnel associated with the issuer.

8. The process of claim 1, further comprising:

declining the requested transaction if the transaction request fails to comply with at least one of the second set of rules.

9. The process of claim 1, further comprising:

notifying the customer if the transaction request fails to comply with at least one of any of the first set of rules and the second set of rules.

10. The process of claim 1, wherein the selected account is identified by any of an access device and information associated with the account,

wherein the access device comprises any of a credit card, a debit card, a gift card, a gift certificate, and a coupon, and

wherein the associated information comprises any of an account number, a user name, a CVC value, an expiration date, information associated with the account holder, and other information that verifies the account.

11. The process of claim 1, wherein at least one of the second set of rules is preset by any of the account issuer and the service provider associated with the account issuer at the time the selected account is established.

12. The process of claim 1, wherein the customer comprises any person that is deemed to be accountable or liable for the actions of the account holder or other account users that are authorized by the account holder to access the account.

13. The process of claim 1, wherein the first set of rules are controllable by the customer by receiving from the customer a first input specifying a selection of at least one parameter associated with the first and second set of rules;

storing the at least one parameter in a database to define a first configuration of the first set of rules;

modifying from the first set of rule to the second set of rules based on receiving from the customer, a second input specifying a selection of at least one parameter associated with the first and second set of rules;

storing the at least one parameter in the database to define the second set of rules; and

responding to the request for a transaction wherein the response is based at least in part on the first and second set of rules.

14. The process of claim 1, wherein the transaction associated with the respective account is one of the financial transactions between the customer and the merchants.

15. The process of claim 1, wherein

each of the first set of parameters corresponds to a rule of the first set of rules,

each of a second set of parameters corresponds to a rule of the second set of rules, and

at least one of the first set of parameters is different than at least one of the second parameters.

16. The process of claim 1, wherein one rule of the second set of rules states that a maximum amount of funds from the respective financial account used to purchase a class of goods or services is limited.

17. The process of claim 1, wherein one rule of the second set of rules states that funds from the respective financial account used to purchase a class of goods or services exceed a threshold amount.

18. The process of claim 1, wherein allowing the customer to override the at least one of the second set of rules modifies the second set of rules.

19. The process of claim 1, wherein at least one of the second set of rules is related to a parameter that is both not included within the first set of parameters and unrelated to the amount of the transaction.