Use limitations for secondary users of financial accounts

• US 10,445,739 B1
• Filed: 08/14/2014
• Issued: 10/15/2019
• Est. Priority Date: 08/14/2014
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Sahni, Bipin, Meyyappan, Uma, Ellis, Stephen M.
• Primary Examiner(s): Kalinowski, Alexander G
• Assistant Examiner(s): Ali, Hatem M
• Application Number:
  US14/459,559
• Time in Patent Office: 1,888 Days
• Field of Search: 705 35- 44
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/2295 Parent-child type, e.g. where parent has control on child rights
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods for sharing financial accounts via a mobile wallet system are described. The mobile wallet system allows for a master wallet associated with a primary account holder to provide limited access to an account of the primary account holder to secondary users. The primary account holder can limit a secondary user'"'"'s level of access to the funds in the account by establishing spending rules and limits for each secondary user. The rules and limits restrict the secondary users'"'"' abilities to spend funds in the account. The rule and limit types include spending limits, types of goods and services restrictions, store specific restrictions, purpose of purchase rules, purchase timing rules, geographic restrictions, group purchase rules.

Claims

1. A computer-implemented method, comprising:

receiving, by a processor of a financial institution device from a customer computing device associated with a primary account holder, a request to add a secondary user to an account of the primary account holder;

receiving, by the processor and from the customer computing device, information relating to the secondary user;

receiving, by the processor and from the customer computing device, rule and limitation information relating to at least one restriction on the secondary user'"'"'s ability to spend funds from the account, wherein the at least one restriction includes a group purchase rule that prevents the secondary user from spending funds from the account when the secondary user is within a threshold distance of an identified individual;

updating, by the processor, at least one database based on the information relating to the secondary user and the rule and limitation information;

receiving, by the processor from a merchant computing system, a purchase request provided by the secondary user;

receiving, by the processor, location data for at least one of the secondary user or the identified individual from a mobile device associated with the secondary user, the location data gathered from an application on the mobile device interfacing with at least one of a Bluetooth device, a peer-to-peer chat application, a WiFi device, or a social media application on the mobile device;

in response to receiving the purchase request, determining, by the processor, whether the secondary user is within the threshold distance of the identified individual using the location data;

approving or denying, by the processor, the purchase request based at least in part on whether the secondary user is within the threshold distance of the identified individual; and

based on the approval or denial, transmitting, by the processor, a notification to the mobile device associated with the secondary user, the notification configured to be displayed as an alert on the mobile device.

2. The method of claim 1, further comprising sending, by the processor and through a network interface of the financial institution device, an alert to a secondary user computing device, the alert including an indication that the secondary user has been added to the account.

3. The method of claim 1, further comprising receiving, by the processor and from the customer computing device, a selection of the account from a listing of accounts associated with the primary account holder.

4. The method of claim 1, wherein the at least one restriction is selected from the following rules and limitations:

a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule.

5. The method of claim 1, wherein approving the purchase request comprises processing the purchase request provided by the secondary user with funds from the account.

6. The method of claim 5, wherein the purchase request includes purchase information and wherein the method further comprises:

comparing, by the processor, the purchase information with the at least one restriction; and

transmitting, by the processor, a purchase authorization decision based at least in part on the comparison of the purchase information with the at least one restriction.

7. The method of claim 6, further comprising determining that the purchase information is in compliance with the at least one restriction, and wherein the purchase authorization decision is an approval.

8. The method of claim 6, further comprising determining that the purchase information is not in compliance with the at least one restriction, and wherein the purchase authorization decision is a rejection.

9. A financial institution computing system, comprising:

an account database;

a mobile wallet profile database;

a network interface; and

a processor configured to;

receive a request to add a secondary user to an account of the primary account holder from a customer computing device associated with a primary account holder,

receive information relating to the secondary user,

receive rule and limitation information relating to at least one restriction that restricts the secondary user'"'"'s ability to spend funds from the account, wherein the at least one restriction includes a group purchase rule that prevents the secondary user from spending funds from the account when the secondary user is within a threshold distance of an identified individual,

update at least one database based on the information relating to the secondary user and the rule and limitation information,

receive a purchase request provided by the secondary user,

receive location data for at least one of the secondary user or the identified individual from a mobile device associated with the secondary user, the location data gathered from an application on the mobile device interfacing with at least one of a Bluetooth device, a peer-to-peer chat application, a WiFi device, or a social media application on the mobile device,

in response to receiving the purchase request, determine whether the secondary user is within the threshold distance of the identified individual using the location data,

approve or deny the purchase request based at least in part on whether the secondary user is within the threshold distance of the identified individual, and

based on the approval or denial, transmit a notification to the mobile device associated with the secondary user, the notification configured to be displayed as an alert on the mobile device.

10. The system of claim 9, wherein the processor is further configured to send an alert to a secondary user computing device, the alert including an indication that the secondary user has been added to the account.

11. The system of claim 9, wherein the processor is further configured to receive a selection of the account from a listing of accounts associated with the primary account holder.

12. The system of claim 9, wherein the at least one restriction is selected from the following rules and limitations:

a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule.

13. The system of claim 9, wherein the approving of the purchase request comprises processing the purchase request provided by the secondary user with funds from the account.

14. The system of claim 13, where the purchase request includes purchase information and wherein the processor is further configured to:

compare the purchase information with the at least one restriction; and

transmit a purchase authorization decision based at least in part on the comparison of the purchase information with the at least one restriction.

15. The system of claim 14, wherein the processor is further configured to determine that the purchase information is in compliance with the at least one restriction, and wherein the purchase authorization decision is an approval.

16. The system of claim 14, wherein the processor is further configured to determine that the purchase information is not in compliance with the at least one restriction, and wherein the purchase authorization decision is a rejection.

17. A non-transitory computer readable media having computer-executable instructions embodied therein that, when executed by a processor of a financial institution computing system, cause the financial institution computing system to perform operations to restrict a primary user'"'"'s access to an account owned by a primary account holder, the operations comprising:

receive a request to add the secondary user to the account of the primary account holder from a customer computing device associated with a primary account holder;

receive information relating to the secondary user;

receive rule and limitation information relating to at least one restriction that restricts the secondary user'"'"'s ability to spend funds from the account, wherein the at least one restriction includes a group purchase rule that prevents the secondary user from spending funds from the account when the secondary user is within a threshold distance of an identified individual; and

update at least one database based on the information relating to the secondary user and the rule and limitation information;

receive a purchase request provided by the secondary user;

receive location data for at least one of the secondary user or the identified individual from a mobile device associated with the secondary user, the location data gathered from an application on the mobile device interfacing with at least one of a Bluetooth device, a peer-to-peer chat application, a WiFi device, or a social media application on the mobile device;

in response to receiving the purchase request, determine whether the secondary user is within the threshold distance of the identified individual using the location data;

approve or deny the purchase request based at least in part on whether the secondary user is within the threshold distance of the identified individual; and

based on the approval or denial, transmit a notification to the mobile device associated with the secondary user, the notification configured to be displayed as an alert on the mobile device.

18. The media of claim 17, wherein the operations further comprise send, through a network interface of the financial institution device, an alert to a secondary user computing device, the alert including an indication that the secondary user has been added to the account.

19. The media of claim 17, wherein the operations further comprise receive, from the customer computing device, a selection of the account from a listing of accounts associated with the primary account holder.

20. The media of claim 17, wherein the at least one restriction is selected from the following rules and limitations:

a spending limit, a types of goods and services restriction, a store specific restriction, a purpose of purchase rule, a purchase timing rule, a geographic restriction, and group purchase rule.

21. The media of claim 17, wherein the approving of the purchase request comprises processing the purchase request provided by the secondary user with funds from the account.

22. The media of claim 21, wherein the purchase request includes purchase information and wherein the operations further comprise:

compare the purchase information with the at least one restriction; and

transmit a purchase authorization decision based at least in part on the comparison of the purchase information with the at least one restriction.

23. The media of claim 22, wherein the operations further comprise determine that the purchase information is in compliance with the at least one restriction, and wherein the purchase authorization decision is an approval.

24. The media of claim 22, wherein the operations further comprise determine that the purchase information is not in compliance with the at least one restriction, and wherein the purchase authorization decision is a rejection.