Multiple account preset parameter method, apparatus and systems for financial transactions and accounts

• US 20060259390A1
• Filed: 07/17/2006
• Published: 11/16/2006
• Est. Priority Date: 06/19/2003
• Status: Abandoned Application

• Current Assignee: Ronald J. Rosenberger
• Original Assignee: Ronald J. Rosenberger
• Inventors: Rosenberger, Ronald J.
• Application Number:
  US11/487,680
• Publication Number:
  US 20060259390A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/26 Debit schemes, e.g. "pay now"
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Methods, apparatus and systems are provided that enables at least one debit for a financial transaction and account management features using at least two financial accounts from which such debits and/or credits can be made from said at least two financial accounts using preset financial account parameters including, but not limited to, at least one ratio, an amount threshold, a remainder threshold, a minimum available account balance, a maximum available account balance, a minimum debit amount, a range of debit amounts, a maximum debit amount, a qualitative or quantitative aspect of at least one said financial accounts, or any combination thereof, and/or other parameters, such as, but not limited to at least one threshold amount and/or remainder amount. The transaction processor also allows account debiting or account crediting parameters to be set in accordance to any merchant identifier information, and permits account balances used for a given transaction to be readjusted after said transaction has been posted. A smart card or personal identification systems embodiment of the transaction processor comprising certain capabilities of the global financial card account embodiment is also provided.

Claims

1. A method for providing an end user free or reduced fee financial account services in exchange for fee based account interchange activity conducted, comprising

a. providing using a transaction processor a free or reduced fee financial account services for at least one financial account to said end user when said end user performs a specified amount or total number of fee based inter account financial transactions within a specified period using at least one available credit or available cash balance.

2. A system for managing at least two financial accounts, comprising:

a. a system component for providing at least two financial accounts comprising at least two available account balances that can be accessed for at least one debit for at least one financial transaction using at least one transaction processor; and

b. a system component for accessing at least one said financial accounts to provide selected or modified transaction parameters or account maintenance functions related to at least one of the available account balances of said at least two financial accounts,

wherein said file maintenance functions enable readjustment or revision with regard to how said given transaction is debited among said at least two available account balances on a post real-time basis after a transaction is posted or otherwise consummated, either by readjusting global parameters, by revising actual amounts, or by specifying an amount to be readjusted, where said readjustment comprises a full or partial amount of said given transaction, wherein said readjustment or revision is made using preset thresholds, ratios, or amounts in at least one of said accounts.

3. A system of claim 2, wherein said transaction parameter can be modified by the end user in a real time basis.

4. A system of claim 2, wherein said transaction parameter can be modified by the end user after the transaction has occurred or posted.

5. A system according to claim 4, wherein said transaction parameter is a time period or a later billing cycle.

6. A method for readjustment or revision of the allocation of available balances to cover at least one transaction debited from at least one first financial account, after said debited transaction is posted or otherwise consummated, comprising

a. accessing said at least one first financial account from which said transaction was debited;

and

b. readjusting or revising said allocation of available balances to cover said debited transaction using at least one preset parameter or at least one other parameter relating said at least one first financial account to at least one other available account balance from at least one other second financial account by at least one step selected from

c. readjusting at least one parameter relating the amounts in at least one of said first and second financial accounts to cover said debited transaction amount;

d. revising at least one of said actual amounts in at least one of said first and second financial accounts to cover said debited transaction amount;

or

e. specifying at least one amount in at least one of said at least one first and second financial accounts to be readjusted to cover said debited transaction amount;

wherein said readjustment or revision comprises at least a partial amount of said transaction debited from said first available financial account.

7. A method of claim 6, wherein said given transaction debiting an initial available credit balance readjusts to debit at least one available cash balance, and/or at least one additional available credit balance, thereby crediting or restoring said initial available credit balance.

8. A method of claim 6, wherein said given transaction debiting an initial available cash balance readjusts to debit at least one available credit balance, and/or at least one additional available cash balance, thereby crediting or restoring said initial available cash balance, whereby said readjustment to said initial available cash balance offers an unexpected result and benefit for the issuer of the global account by increasing the risk of default for said global account by the end user, thus enabling said issuer to justify and charge higher fees.

9. A method for authorizing at least one debit for at least one financial transaction using at least one transaction parameter for relating the debit amount of said debit to the relative account balances in at least two financial accounts, comprising:

a. providing at least two financial accounts comprising at least one available account balance that can be accessed for said debit for said at least one financial transaction; and

b. authorizing said debit amount for said at least one financial transaction from said at least one of said account balances based on at least one of said transaction parameters relating said debit amount to the amounts or ratios of each of said account balances in at least two of said available account balances.

10. A method according to claim 9, wherein said transaction parameter is selected from at least one of a ratio, an amount threshold, a remainder threshold, a minimum available account balance, a maximum available account balance, a minimum debit amount, a range of debit amounts, or a maximum debit amount.

11. A method according to claim 9, wherein said debit for said financial transaction based on said at least one transaction parameter is based on at least one selected from:

a. the total of said at least two available account balances is greater than or equal to said debit amount;

b. at least one selected available account balance is greater than or equal to said assigned portion of said debit amount corresponding to said at least one selected available account balance;

or

c. at least one selected available account balance, as determined by said transaction processor, that is able to compensate for a deficiency in at least one other selected available account balance that is less than the assigned portion of said debit amount corresponding to said at least one selected available account balance, where said assigned portion is determined by said transaction processor.