Electronic savings transfers

• US 20070011089A1
• Filed: 07/08/2006
• Published: 01/11/2007
• Est. Priority Date: 07/09/2005
• Status: Abandoned Application

• Current Assignee: Hybrid Kiosks LLC
• Original Assignee: Hybrid Kiosks LLC
• Inventors: DeSchryver, Michelle
• Application Number:
  US11/483,468
• Publication Number:
  US 20070011089A1
• Time in Patent Office: Days
• US Class Current: 705/39
• 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 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/201 Accessories of ATMs

Abstract

A system and method is provided for directing the transfer of funds to a customer designated account at a electronic payment system terminal, the method comprising the steps of: a) establishing a customer designated account capable of being accessed through the transaction processing system associated with a merchant, where the transaction processing system is communicatively linked to the customer designated account; b) accessing identifying data relating to the customer designated account through an electronic payment system terminal communicatively linked to the transaction processing system; c) automatically generating an electronic savings prompt for a customer at the electronic payment system terminal; and d) in response to a positive customer input to the savings prompt establishing a connection to the customer designated account and transferring funds into the customer designated account.

Claims

1. A method for directing the transfer of funds to a customer designated account at a electronic payment system terminal, said method comprising the steps of:

a) establishing a customer designated account capable of being accessed through the transaction processing system associated with a merchant, wherein said transaction processing system is communicatively linked to said customer designated account;

b) accessing identifying data relating to said customer designated account through an electronic payment system terminal communicatively linked to said transaction processing system;

c) automatically generating an electronic savings prompt for a customer at said electronic payment system terminal; and

d) in response to a positive customer input to said savings prompt establishing a connection to said customer designated account and transferring funds into said customer designated account.

2. The method of claim 1 wherein in step b) said electronic payment system terminal is a point of sale terminal at a merchant.

3. The method of claim 1 wherein in step b) said electronic payment system terminal is an ATM machine.

4. The method of claim 1 wherein in step d), said funds comprise a debit contribution from a personal account of said customer.

5. The method of claim 1 wherein in step d), said funds further comprise an incentive contribution from said merchant.

6. The method of claim 1 wherein in step d), said funds comprise a cash contribution.

7. The method of claim 6 wherein said cash contribution is in addition to a purchase price in a sales transaction between said customer and said merchant.

8. The method of claim 1 wherein in step a) connectivity to said customer designated account is established by electronic integration into software of said transaction processing system.

9. The method of claim 8 wherein electronic said software integration comprises software capable of being integrated into said transaction processing system.

10. The method of claim 8 wherein electronic said software integration comprises adapting software of said transaction processing system.

11. The method of claim 1 wherein in step b) said identifying data is located on a card selected from the group of cards consisting of ATM, driver'"'"' license, merchant loyalty card or a prepaid, reloadable VISA/MC.

12. The method of claim 1 wherein said customer designated account is an account at a bank having a branch within the merchant.

13. The method of claim 1 wherein said customer designated account is a savings account.

14. The method of claim 1 wherein said customer designated account is a retirement account.

15. The method of claim 14 wherein retirement account is selected from the group of accounts consisting of a 401K account, a 529 account, a mutual fund and an IRA account.

16. The method of claim 1 wherein said customer designated account is an account attached to a whole life insurance policy.

17. The method of claim 1 wherein in step a) establishing a customer designated account comprises pre-registering for said customer designated account via said merchant.

18. The method of claim 17 wherein registering for said customer designated account is in response to prompts generated at the point of sale.

19. The method of claim 1 wherein in step a) establishing a customer designated account comprises registering for said customer designated account via a bank.

20. The method of claim 1 wherein in step c) said prompt comprises an option of transferring s specific amount of money into said customer designated account.

21. The method of claim 1 wherein in step c) said prompt comprises an option of transferring a percentage of a transaction amount into said customer designated account.

22. The method of claim 14 wherein in step c) said percentage relates to the sales tax percentage for the transaction.

23. The method of claim 1 wherein in step c) said prompt comprises an option of transferring the difference between the transaction amount and a higher amount.

24. The method of claim 1 wherein in step c) said prompt comprises an option of transferring an amount according to a calculation method pre-selected by the customer at the time of establishing the customer designated account in a).

25. A system for directing the transfer of money to a customer designated account at a point of sale in response to a customer input directing such transfer, said system comprising:

a) a customer designated account capable of being accessed through the transaction processing system associated with a merchant, wherein said transaction processing system is communicatively linked to said customer designated account;

b) an electronic payment system terminal communicatively linked to said transaction processing system and capable of accessing identifying data relating to said customer designated account;

c) a system for generating an electronic savings prompt for a customer at said electronic payment system terminal; and

d) software capable of establishing a connection to said customer designated account and directing the transfer of funds into said customer designated account in response to a positive input by a customer to a savings prompt.

26. The system of claim 25 wherein in step b) said electronic payment system terminal is a point of sale terminal at a merchant.

27. The system of claim 25 wherein in step b) said electronic payment system terminal is an ATM machine.

28. The system of claim 25 wherein in step d), said funds comprise a debit contribution from a personal account of said customer.

29. The system of claim 25 wherein in step d), said funds further comprise an incentive contribution from said merchant.

30. The system of claim 25 wherein in step d), said funds comprise a cash contribution.

31. The system of claim 30 wherein said cash contribution is in addition to a purchase price in a sales transaction between said customer and said merchant.

32. The system of claim 25 wherein in step a) connectivity to said customer designated account is established by electronic integration into software of said transaction processing system.

33. The system of claim 32 wherein electronic said software integration comprises software capable of being integrated into said transaction processing system.

34. The system of claim 32 wherein electronic said software integration comprises adapting software of said transaction processing system.

35. The system of claim 25 wherein in step b) said identifying data is located on a card selected from the group of cards consisting of ATM, driver'"'"' license, merchant loyalty card or a prepaid, reloadable VISA/MC.

36. The system of claim 25 wherein said customer designated account is an account at a bank having a branch within the merchant.

37. The system of claim 25 wherein said customer designated account is a savings account.

38. The system of claim 25 wherein said customer designated account is a retirement account.

39. The system of claim 38 wherein retirement account is selected from the group of accounts consisting of a 401K account, a 529 account, a mutual find and an IRA account.

40. The system of claim 25 wherein said customer designated account is an account attached to a whole life insurance policy.

41. The system of claim 25 wherein in step a) establishing a customer designated account comprises pre-registering for said customer designated account via said merchant.

42. The system of claim 41 wherein registering for said customer designated account is in response to prompts generated at the point of sale.

43. The system of claim 25 wherein in step a) establishing a customer designated account comprises registering for said customer designated account via a bank.

44. The system of claim 25 wherein in step c) said prompt comprises an option of transferring s specific amount of money into said customer designated account.

45. The system of claim 25 wherein in step c) said prompt comprises an option of transferring a percentage of a transaction amount into said customer designated account.

46. The system of claim 45 wherein in step c) said percentage relates to the sales tax percentage for the transaction.

47. The system of claim 25 wherein in step c) said prompt comprises an option of transferring the difference between the transaction amount and a higher amount.

48. The system of claim 25 wherein in step c) said prompt comprises an option of transferring an amount according to a calculation system pre-selected by the customer at the time of establishing the customer designated account in a).