Systems and methods for directing elective account balances

• US 20040210506A1
• Filed: 08/20/2003
• Published: 10/21/2004
• Est. Priority Date: 04/21/2003
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: McDonald, Brenda K., Baumgartner, David, Algiene, Kenneth
• Application Number:
  US10/645,722
• Publication Number:
  US 20040210506A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Systems and methods for distributing and/or calculating elective account balances. Various of the systems include one or more microprocessor based devices that are coupled to a communication network. A computer readable medium is associated with at least one of the microprocessor based devices, and includes instructions executable by the microprocessor based device to serve interfaces and receive information via the interfaces. In addition, the information received via the interfaces can be used to allocate at least a portion of an elective balance to a redemption category, and to calculate a redemption amount. Various of the methods include receiving one or both of a bid premium and a allocation amount. This information can be used to calculate a redemption amount.

Claims

1. A system for distributing elective account balances, the system comprising:

a microprocessor based device communicably coupled to a communication network;

a computer readable medium associated with the microprocessor based device, wherein the computer readable medium includes instructions executable by the microprocessor based device to;

receive a request for a first interface from a bid device;

serve the first interface to the bid device across the computer network, wherein the first interface is operable to receive a first input;

receive a request for a second interface from a redemption device;

serve the second interface to the redemption device across the computer network, wherein the second interface is operable to receive a second input;

allocate at least a portion of an elective balance to a redemption category based at least in part on the second input; and

calculate a redemption amount by multiplying the portion of the elective balance by the first input.

2. The system of claim 1, wherein the first input is a bid premium.

3. The system of claim 1, wherein the instructions executable by the microprocessor based device are further executable to:

receive a request for a third interface;

serve the third interface to the redemption device, wherein the third interface is operable to receive a third input; and

deduct an amount corresponding to the third input from the redemption amount, and reduce the elective balance by an amount corresponding to the third input divided by the first input.

4. The system of claim 1, wherein the redemption category is selected from a group consisting of:

cash, a retail outlet, vacation time, additional sick days, and a service provider.

5. The system of claim 1, wherein the redemption category is a first redemption category, wherein the portion of the elective balance is a first portion of the elective balance, wherein the redemption amount is a first redemption amount, wherein the second interface is further operable to receive a fourth input, wherein the bid device is a first bid device, and wherein the instructions executable by the microprocessor based device are further executable to:

receive a request for a third interface from a second bid device;

serve the third interface to the second bid device across the computer network, wherein the third interface is operable to receive a third input;

allocate a second portion of the elective balance to a second redemption category based at least in part on the fourth input; and

calculate a second redemption amount by multiplying the second portion of the elective balance by the third input.

6. The system of claim 1, wherein the redemption category is a first redemption category, and wherein the instructions executable by the microprocessor based device are further executable to:

allocate a remaining portion of the elective balance to a second redemption category.

7. The system of claim 6, wherein the first redemption category is selected from a group consisting of:

a retail outlet, vacation time, additional sick days, and a service provider.

8. The system of claim 7, wherein the second redemption category is cash.

9. A method for allocating and redeeming elective account balances, the method comprising:

providing a first interface to a bid device across a communication network;

receiving a bid premium via the first interface;

providing a second interface to a redemption device;

receiving a percentage of an elective balance via the second interface, wherein the percentage of the elective balance is associated with a redemption category; and

calculating a redemption amount by multiplying the elective balance by the percentage of the elective balance and the bid premium.

10. The method of claim 9, wherein the redemption category is a first redemption category, wherein the percentage of the elective balance is a first percentage of the elective balance, wherein the bid device is a first bid device, wherein the bid premium is a first bid premium, the method further comprising:

providing a third interface to a second bid device across the communication network;

receiving a second bid premium from the second bid device, wherein the second bid premium is associated with a second redemption category; and

receiving a second percentage of the elective balance from the redemption device, wherein the second percentage of the elective balance is associated with the second redemption category.

11. The method of claim 10, wherein the redemption amount is a first redemption amount, the method further comprising:

calculating a second redemption amount by multiplying the elective balance by the second percentage of the elective balance and the second bid premium.

12. The method of claim 9, the method further comprising:

allocating a remaining portion of the elective balance to cash.

13. The method of claim 9, wherein the redemption category is selected from a group consisting of:

cash, a retail outlet, vacation time, additional sick days, and a service provider.

14. A method for allocating and redeeming elective account balances, the method comprising:

providing an identification interface to a redemption device across a communication network;

receiving an identification via the identification interface, wherein the identification indicates an elective account;

accessing a balance associated with the elective account;

providing an account interface including the balance to the redemption device via the communication network; and

receiving an allocation selection from the redemption device, wherein the allocation selection indicates an amount of the balance to be associated with a redemption category.

15. The method of claim 14, the method further comprising:

associating the amount of the balance with the redemption category; and

updating the account interface to indicate the amount of the balance associated with the redemption category.

16. The method of claim 15, wherein the redemption category is selected from a group consisting of:

cash, a retail outlet, vacation time, additional sick days, and a service provider.

17. The method of claim 15, the method further comprising:

allocating a remaining portion of the balance to cash; and

wherein the redemption category is selected from a group consisting of;

a retail outlet, vacation time, additional sick days, and a service provider.

18. The method of claim 14, the method further comprising:

providing a bid premium interface to a bid device via the communication network;

receiving a bid premium from the bid device, wherein the bid premium is associated with the redemption category; and

calculating the redemption amount based at least in part on the bid premium.

19. The method of claim 18, wherein the amount of the balance is a percentage of the balance, and wherein calculating the redemption amount comprises:

multiplying the balance by the percentage of the balance and the bid premium.

20. The method of claim 18, wherein the redemption category is a first redemption category, wherein the amount of the balance is a first amount of the balance, wherein the bid premium interface is a first bid premium interface, wherein the bid premium is a first bid premium, wherein the bid device is a first bid device, and wherein the account allocation is a first account allocation, the method further comprising:

providing a second bid premium interface to a second bid device via the communication network;

receiving a second bid premium from the second bid device, wherein the second bid premium is associated with a second redemption category; and

receiving a second allocation selection from the redemption device, wherein the second allocation selection indicates a second amount of the balance to be associated with the second redemption category.

21. The method of claim 20, wherein the redemption amount is a first redemption amount, the method further comprising:

calculating a second redemption amount based at least in part on the balance, the second bid premium, and the second allocation selection.