Method and system for funds management
First Claim
Patent Images
1. A method, comprising:
- initializing a first account with a balance, wherein there is a limit on the first account in terms of the total number of withdrawals within each cycle of a pre-determined period;
monitoring the number of withdrawals made from the first account within a cycle of the pre-determined period;
sweeping, upon reaching the limit on the total number of withdrawals, the remaining balance in the first account into a second account;
making each subsequent withdrawal from the second account during the remaining duration of the cycle after the remaining balance is swept into the second account; and
sweeping, when a new cycle of the pre-determined period begins, the entire remaining balance in the second account back into the first account.
2 Assignments
0 Petitions
Accused Products
Abstract
Methods and systems for sweeping fund between accounts are provided. A first account is initialized with a balance. The number of withdrawals made from the first account is monitored with respect to a limit on the total number of withdrawals allowed within each cycle of a predetermined period. Upon reaching the limit on the total number of withdrawals, the remaining balance in the first account is swept into a second account. Each subsequent withdrawal is made from the second account during the remaining duration of the cycle after the remaining balance is swept into the second account. When a new cycle begins, the entire remaining balance in the second account is swept back into the first account.
257 Citations
69 Claims
-
1. A method, comprising:
-
initializing a first account with a balance, wherein there is a limit on the first account in terms of the total number of withdrawals within each cycle of a pre-determined period;
monitoring the number of withdrawals made from the first account within a cycle of the pre-determined period;
sweeping, upon reaching the limit on the total number of withdrawals, the remaining balance in the first account into a second account;
making each subsequent withdrawal from the second account during the remaining duration of the cycle after the remaining balance is swept into the second account; and
sweeping, when a new cycle of the pre-determined period begins, the entire remaining balance in the second account back into the first account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
-
-
14. A method, comprising:
-
initializing a first account with a balance;
limiting the total number of withdrawals from the first account within each cycle of a pre-determined period;
setting up a second account, wherein the total balance of the first account and the second account is subject to a cap on the amount of balance insured;
monitoring the number of withdrawals from the first account within a cycle of the pre-determined period as well as the total balance with respect to the cap;
sweeping the remaining balance in the first account not exceeding the cap into the second account if the number of withdrawals within a cycle reaches the limit on the total number of withdrawals; and
sweeping, whenever a new cycle of the pre-determined period begins, the entire remaining balance in the second account back into the first account. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
-
-
33. A system, comprising:
-
a server configured to perform client finds management;
the server being configured to provide a first account initially holding a balance with a limit on the total number of withdrawals within each cycle of a pre-determined period;
the server being configured to provide a second account; and
a withdrawal transaction mechanism, running on the server, capable of performing withdrawal transactions from the first or the second account, wherein the withdrawal transaction mechanism monitors the number of withdrawals from the first account within a cycle of the pre-determined period, sweeps the remaining balance in the first account into the second account if the number of withdrawals within a cycle reaches the limit on total number of withdrawals, and sweeps the entire balance in the second account to the first account whenever a new cycle of the pre-determined period begins. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41, 42, 43)
-
-
44. A system, comprising:
-
a server configured to perform client funds management;
the server being configured to provide a first account initially holding a balance with a limit on the total number of withdrawals within each cycle of a pre-determined period;
the server being configured to provide a second account, wherein the total balance of the first and the second account is insured up to a cap amount;
the server being configured to provide a third account; and
a withdrawal transaction mechanism, running on the server, capable of performing withdrawal transactions from the first, the second, or the third account, wherein the withdrawal transaction mechanism monitors the number of withdrawals from the first account within a cycle of the pre-determined period as well as the total balance of the first and the second account, sweeps the remaining balance in the first account not exceeding the cap into the second account if the number of withdrawals within the cycle reaches the limit on total number of withdrawals, and sweeps the entire balance in the second account not exceeding the cap to the first account whenever a new cycle of the pre-determined period begins. - View Dependent Claims (45, 46, 47, 48, 49, 50, 51, 52, 53, 54)
-
-
55. A system, comprising:
-
a server configured to provide a sweep service;
a terminal including a client portion of the sweep service, by which a fund of the client is swept between a plurality of accounts associated with the client, wherein the fund is initially placed in a first account that has a limit on total number of withdrawals in each cycle of a predetermined period, the fund is swept to a second account, upon reaching the limit on the total number of withdrawals within a cycle, and the fund is swept from the second account back to the first account when a new cycle of the pre-determined period begins. - View Dependent Claims (56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69)
-
Specification