Prepaid financial account incentives system and method
First Claim
1. A method for providing an incentive to a holder of a prepaid financial account, comprising:
- (a) establishing a prepaid financial account having an initial value and an agreed upon time period associated therewith;
(b) determining whether the prepaid financial account has maintained a minimum account balance for a duration corresponding at least to the agreed upon time period;
(c) providing a reward to the holder of the prepaid financial account if the account has maintained the minimum account balance for the duration corresponding at least to the agreed upon time period; and
(d) activating the prepaid financial account at the account value.
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Accused Products
Abstract
A system and method for creating and managing incentives for buyers of prepaid financial accounts to engage in certain activities with those accounts. Account holders agree to fund a prepaid account with a minimum amount and to forego using the account for an agreed time period, to maintain minimum account balances, to make periodic balance additions, or to satisfy other account requirements in exchange for a reward. The reward may be a money reward, merchandise, discounts, services, enrollment in loyalty programs, preferential treatments, rebates, lottery entries, etc. Whether or not the conditions for a reward are satisfied, the full initial par value of the account is available upon activating the account. Increasing rewards may be issued for increasing time periods where the account requirements are satisfied.
40 Citations
30 Claims
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1. A method for providing an incentive to a holder of a prepaid financial account, comprising:
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(a) establishing a prepaid financial account having an initial value and an agreed upon time period associated therewith;
(b) determining whether the prepaid financial account has maintained a minimum account balance for a duration corresponding at least to the agreed upon time period;
(c) providing a reward to the holder of the prepaid financial account if the account has maintained the minimum account balance for the duration corresponding at least to the agreed upon time period; and
(d) activating the prepaid financial account at the account value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for providing an incentive to a holder of a prepaid financial account, comprising:
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(a) establishing a prepaid financial account having an initial value and different agreed upon time periods associated therewith;
(b) determining whether the prepaid financial account has maintained minimum account balances for durations corresponding to each of the agreed upon time periods or received minimum periodic account additions;
(c) providing a reward to the holder of the prepaid financial account wherein the reward provided is determined based on a number of the agreed upon time periods for which the minimum account balance has been maintained or periodic account additions have been made; and
(d) activating the prepaid financial account at the initial value. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. A computer implemented system for providing an incentive to a holder of a prepaid financial account, comprising:
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(a) an account database having stored therein prepaid financial account information including an initial account value, an agreed upon time period, and account activation information;
(b) an account processor system coupled to the account database and adapted to;
(i) retrieve from the account database the agreed upon time period and the account activation information, (ii) determine from the agreed upon time period and the account activation information whether the prepaid financial account has remained inactive for a duration corresponding at least to the agreed upon time period, (iii) initiate providing a reward to the holder of the prepaid financial account if the account has satisfied the account requirements for the duration corresponding at least to the agreed upon time period, and (iv) activate the prepaid financial account at the initial value. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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Specification