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Method for prepaid debit card with overdraft capabilities

  • US 20070100745A1
  • Filed: 06/26/2006
  • Published: 05/03/2007
  • Est. Priority Date: 06/24/2005
  • Status: Active Grant
First Claim
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1. A method for overdraft protection associated with a prepaid debit card to be utilized by a core processor, the method comprising the steps of:

  • a) establishing a prepaid debit card account for a customer;

    b) receiving a request for funds from a transaction initiated by the customer;

    c) comparing the amount of the transaction to the funds available;

    d) utilizing an overdraft privilege risk analysis scoring module, in real-time, to analyze the request for overdraft funds based on a series of criteria;

    e) authorizing overdraft transactions at certain amounts; and

    , f) withdrawing the overdraft privilege amount and any associated fees from the customer'"'"'s account when additional funds are available in the customer'"'"'s account.

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