Debit card per-transaction charitable contribution

• US 20050021363A1
• Filed: 07/22/2004
• Published: 01/27/2005
• Est. Priority Date: 07/25/2003
• Status: Abandoned Application

• Current Assignee: Gregory F. Stimson, Robert B. Kay
• Original Assignee: Gregory F. Stimson, Robert B. Kay
• Inventors: Stimson, Gregory F., Kay, Robert B.
• Application Number:
  US10/897,878
• Publication Number:
  US 20050021363A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0279 Fundraising management
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A procedure and method which use a debit, stored value, or prepaid stored value card, or a similar card or account that has a value but does not extend credit to the card holder, to provide a designated funding amount to a selected non-profit or charitable organization or entity identified by the card where the funding amount is transferred with each transaction, such as a purchase, deposit (load) or cash withdrawal, using that card.

Claims

1. A funds transfer system comprising a funded account and a means for withdrawal from and loading of funds to that funded account, said means specific to and usable only by a designated accountholder, wherein the use thereof by an accountholder in a financial transaction:

a) causes funds to be transferred from the funded account of the accountholder to a receiving party designated in that financial transaction by the accountholder

b) reduces the funded account by the amount of the financial transaction, and

c) causes a specified transaction fee to be deducted from the funded account, the transaction fee comprising one or more of a maintenance fee and additional fees, said additional fee or fees credited to one or more designated separate accounts.

2. The funds transfer system of claim 1 wherein the means for withdrawal is a debit, stored value, prepaid stored value or gift card, or a card or account that has a cash value but does not extend credit to the accountholder or an electronic transfer access device and the accountholder must enter a PIN number or system recognizable signature to cause the funds to transfer.

3. The funds transfer system of claim 1 wherein the additional fee is a fixed dollar amount or a percentage of the dollar value of the transaction.

4. The funds transfer system of claim 1 wherein the designated separate account is an account of an organization which qualifies for tax purposes as a charitable or non-profit organization.

5. The funds transfer system of claim 1 wherein the transfer of the additional fee to a separate account generates a potential tax deduction for the accountholder.

6. The funds transfer system of claim 1 wherein the designated separate account is an account of an entity which receives the additional funds for later transfer to an organization which qualifies for tax purposes as a charitable or non-profit organization.

7. The funds transfer system of claim 1 wherein the account holder also has electronic access to the account to manage the accountholder'"'"'s funds in the account.

8. The funds transfer system of claim 7 wherein managing the account includes the ability for the accountholder to direct one or more of

a) electronically transferring funds into and out of the account,

b) changing the amount or manner of calculating the additional fee,

c) changing the designated entity receiving the additional finds, and

d) changing the directed manner in which the designated entity can use the finds.

9. A funds transfer system comprising an account pre-funded by an accountholder, said accountholder having an access card for accessing, withdrawing, loading, and transferring funds in said account to a third party wherein performing a transaction using the card causes a designated amount of funds to be transferred to said third party and a specified transaction fee to be withdrawn from said account and credited to the accounts of pre-designated entities, said transaction fee comprising at least a maintenance fee transferred to a first designated entity and an additional fee transferred to an account for a second designated entity.

10. The funds transfer system claim 9 wherein the access card is a debit, stored value, prepaid stored value or gift card, or a card or account that has a cash value but does not extend credit to the accountholder, or an electronic transfer access device.

11. The funds transfer system claim 9 wherein the accountholder also has electronic access to the account so the accountholder can manage the finds in the account.

12. The funds transfer system of claim 11 wherein managing the account includes the ability for the accountholder to direct one or more of

a) electronically transferring funds into or out of the account,

b) changing the amount or manner of calculating the additional fee,

c) changing the designated entity receiving the additional finds, and

d) changing the directed manner in which the designated entity can use the funds.

13. The finds transfer system of claim 9 wherein the accountholder must enter a PIN number or signature to activate the funds transfer system.

14. The funds transfer system of claim 9 wherein the additional fee is a fixed dollar amount or a percentage of the dollar value of the transaction.

15. The funds transfer system claim 9 wherein the second designated entity is an organization which qualifies for tax purposes as a charitable or non-profit organization.

16. The finds transfer system claim 9 wherein the transfer of the additional fee to a separate account generates a potential tax deduction for the accountholder.

17. The funds transfer system claim 9 wherein the designated separate account is an account of an entity which receives the additional funds for later transfer to an organization which qualifies for tax purposes as a charitable or non-profit organization.