MONEY FUND BANKING SYSTEM WITH MULTIPLE BANKS AND/OR RATES
First Claim
2. A method for managing a plurality of client demand accounts for one or more clients, wherein said client demand account funds are held in one or more FDIC-insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
- administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of said deposits and/or transfers to and said withdrawals and/or transfers from said client demand accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more FDIC-insured and interest-bearing deposit accounts based on the determination of said one or more net transactions, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein the manner of making said withdrawals and/or transfers from at least one of said FDIC-insured and interest-bearing deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said withdrawals and/or transfers from said at least one of said FDIC-insured and interest-bearing deposit accounts made during a month;
updating a database, maintained on one or more computers, comprising information for each client demand account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client demand account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other FDIC-insured and interest-bearing deposit account at least one other banking institution.
4 Assignments
0 Petitions
Accused Products
Abstract
Providing interest to clients'"'"' deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients'"'"' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients'"'"' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of the deposit account(s), exemptions to the limitation on earning interest in demand accounts is facilitated; additionally, dispersing the deposit account funds among multiple banks allows the client to obtain FDIC insurance for all of the deposited funds, which may amount to insurance in excess of the statutory maximum allowed (presently $100,000.00).
202 Citations
378 Claims
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2. A method for managing a plurality of client demand accounts for one or more clients, wherein said client demand account funds are held in one or more FDIC-insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of said deposits and/or transfers to and said withdrawals and/or transfers from said client demand accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more FDIC-insured and interest-bearing deposit accounts based on the determination of said one or more net transactions, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein the manner of making said withdrawals and/or transfers from at least one of said FDIC-insured and interest-bearing deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said withdrawals and/or transfers from said at least one of said FDIC-insured and interest-bearing deposit accounts made during a month;
updating a database, maintained on one or more computers, comprising information for each client demand account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client demand account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other FDIC-insured and interest-bearing deposit account at least one other banking institution. - View Dependent Claims (1, 3, 4, 5, 13, 14, 15, 16, 17, 18, 19, 30, 31, 32, 33, 34, 193, 305, 319)
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7. (canceled)
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10. (canceled)
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24. A method for managing a plurality of client demand accounts, the funds for the client accounts being held in one or more insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering client deposit, withdrawal, and transfer transactions against their client demand accounts by crediting or debiting client funds in the insured and interest-bearing deposit accounts so that each client'"'"'s funds held in each banking institution do not exceed a specified amount;
determining on a regular basis one or more net transactions as sums of the credited and debited transactions;
on a regular basis, causing funds to be deposited and/or transferred to or withdrawn and/or transferred from the insured and interest-bearing deposit accounts at said banking institutions in dependence on the pre-determined one or more net transactions wherein the manner of making transfers and/or withdrawals from at least one of said insured and interest-bearing deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from said at least one of said insured and interest-bearing deposit accounts made during a month;
updating a database, maintained on one or more computers, comprising client information for each client demand account with the received transactions against the client demand accounts;
determining whether each client'"'"'s funds at a banking institution are more than said specified amount; and
distributing any amounts over said specified amount into at least one other insured and interest-bearing deposit account at least one other banking institution. - View Dependent Claims (20, 21, 22, 23, 25, 26, 27, 28, 40, 41, 42, 43, 44, 187, 188, 189, 195, 309, 320)
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29. A computer system for managing a plurality of client demand accounts, the funds for said client demand accounts being held in one or more insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client demand account including the amount of each client'"'"'s funds held in said insured and interest-bearing deposit accounts, a computer programmed to perform the steps of administering client deposit, withdrawal, and transfer transactions by crediting or debiting client funds in the insured and interest-bearing deposit accounts so that each client'"'"'s funds held in each banking institution do not exceed a specified amount;
determining on a regular basis one or more net transactions as sums of the credited and debited client transactions;
on a regular basis, causing funds to be deposited and/or transferred to or withdrawn and/or transferred from the insured and interest-bearing deposit accounts at said banking institutions in dependence on the pre-determined one or more net transactions, wherein the manner of making transfers and/or withdrawals from at least one of said insured and interest-bearing deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from said at least one of said insured and interest-bearing deposit account actually made during a month; and
updating a database comprising client information for each client demand account with the received transactions against the demand client accounts. - View Dependent Claims (49, 196)
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35. (canceled)
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36. (canceled)
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37. (canceled)
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38. (canceled)
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45. (canceled)
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51. A method for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more FDIC-insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of said deposits and/or transfers to and withdrawals and/or transfers from said client demand accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more FDIC-insured and interest-bearing deposit accounts based on the determination of the one or more net transactions, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said FDIC-insured and interest-bearing deposit accounts;
updating a database, maintained on one or more computers, comprising information for each client demand account with said deposits and/or transfers to and said withdrawals and/or transfers from said each client demand account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other FDIC-insured and interest-bearing deposit account at least one other banking institution. - View Dependent Claims (50, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 307, 310, 321, 324)
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67. A computer system for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more FDIC-insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client demand account; and
a computer programmed to perform the steps of administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of the said client deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
determining from the one or more net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more FDIC-insured and interest-bearing deposit accounts, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said FDIC-insured and interest-bearing deposit accounts; and
updating said database with each client'"'"'s said deposits and/or transfers to and said withdrawals and/or transfers from said each client'"'"'s demand account. - View Dependent Claims (68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 308, 325)
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83. A method for managing a plurality of client demand accounts, the funds for the client demand accounts being held in one or more insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering client deposit, withdrawal, and transfer transactions against their client demand accounts by crediting or debiting client funds in said insured and interest-bearing deposit accounts so that each client'"'"'s funds held in each banking institution do not exceed a specified amount;
determining on a regular basis one or more net transactions as sums of the credited and debited transactions;
on a regular basis, causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said insured and interest-bearing deposit accounts at said banking institutions in dependence on the pre-determined one or more net transactions wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured and interest-bearing deposit accounts;
updating a database, maintained on one or more computers, comprising client information for each client demand account with said transactions received against said client demand accounts;
determining whether each client'"'"'s funds at a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured and interest-bearing deposit account at least one other banking institution. - View Dependent Claims (79, 80, 81, 82, 84, 85, 86, 87, 88, 89, 90, 91, 92, 190, 191, 192, 322, 326)
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93. A computer system for managing a plurality of client demand accounts, the funds for said client demand accounts being held in one or more insured and interest-bearing deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client demand account including the amount of each client'"'"'s funds held in said insured and interest-bearing deposit accounts, a computer programmed to perform the steps of administering client deposit, withdrawal, and transfer transactions by crediting or debiting client funds in said insured and interest-bearing deposit accounts so that each client'"'"'s funds held in each banking institution do not exceed a specified amount;
determining on a regular basis one or more net transactions as sums of the credited and debited transactions;
on a regular basis, causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said insured and interest-bearing deposit accounts at said banking institutions in dependence on the pre-determined one or more net transactions, wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured and interest-bearing deposit accounts; and
updating said database comprising client information for each client demand account with said transactions received against said client demand accounts. - View Dependent Claims (94, 95, 96, 97, 98, 327)
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99. A method for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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providing a database, maintained on one or more computers, comprising client information for each client demand account;
administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
authorizing or rejecting the use of funds in a particular client'"'"'s demand account for each payment requested from that client'"'"'s demand account;
determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals from their demand accounts;
depositing and/or transferring funds to or withdrawing and/or transferring funds from said one or more insured money market deposit accounts based on said one or more net transactions so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in an FDIC-insured banking institution is effectively provided for each client, and wherein the manner of making transfers and/or withdrawals from at least one of said insured money market deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured money market deposit accounts made during a month;
wherein the depositing and/or transferring step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured money market deposit account at least one other banking institution;
distributing interest paid on at least one of said insured money market deposit accounts to said client demand accounts; and
updating the database with each client'"'"'s deposit and authorized withdrawal. - View Dependent Claims (100, 101, 102, 103, 104, 105, 106, 197, 363, 371)
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107. A system for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising client information for each client demand account;
a device for administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
a device for authorizing or rejecting the use of funds in a particular client'"'"'s demand account for each payment requested from that client'"'"'s demand account;
a device for determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
a comparison device for determining from said one or more net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured money market deposit accounts;
a device for processing deposits and/or transfers of said funds to or withdrawals and/or transfers of said funds from said one or more insured money market deposit accounts based on said one or more net transactions, wherein the manner of making transfers and/or withdrawals from at least one of said insured money market deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured money market deposit accounts actually made during a month;
a device for distributing interest earned on at least one of said insured money market deposit accounts to said client demand accounts; and
a device for updating said database with each client'"'"'s deposits and authorized payments. - View Dependent Claims (108, 109, 110, 111, 112, 113, 114, 198)
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115. A method for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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providing a database, maintained on one or more computers, comprising client information for each client transaction account;
administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
authorizing or rejecting the use of funds in a particular client'"'"'s transaction account for each payment requested from that client'"'"'s transaction account;
determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
depositing and/or transferring funds to or withdrawing and/or transferring funds from said one or more insured interest-bearing non-demand deposit accounts based on said one or more net transactions so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and, wherein the manner of making transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts made during a month;
wherein the depositing and/or transferring to or withdrawing and/or transferring funds step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing non-demand deposit account at least one other banking institution;
distributing interest paid on at least one of said insured interest-bearing non-demand deposit accounts to said client transaction accounts; and
updating said database with each client'"'"'s deposit and authorized payment. - View Dependent Claims (116, 117, 118, 119, 120, 121, 122, 123, 124, 125, 126, 127, 128, 199, 364, 372)
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129. A system for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, the system comprising:
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a database comprising client information for each client transaction account;
a device for administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
a device for authorizing or rejecting the use of funds in a particular client'"'"'s transaction account for each payment requested from that client'"'"'s transaction account;
a device for determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
a comparison device for determining from the one or more net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured interest-bearing non-demand deposit accounts;
a device for processing deposits and/or transfers of said funds to or withdrawals and/or transfers of said funds from said one or more insured interest-bearing non-demand deposit accounts based on said one or more net transactions, wherein the manner of making transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts actually made during a month;
a device for distributing interest earned on at least one of said insured interest-bearing non-demand deposit accounts to said clients'"'"' transaction accounts; and
a device for updating said database with each client'"'"'s deposits and authorized payments. - View Dependent Claims (130, 131, 132, 133, 134, 135, 136, 137, 138, 139, 140, 141, 142, 200)
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143. A method for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, the method comprising:
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providing a database, maintained on one or more computers, comprising client information for each client demand account;
administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
authorizing or rejecting the use of funds in a particular client'"'"'s demand account for each payment requested from that client'"'"'s demand account;
determining on a regular periodic basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
depositing and/or transferring funds to or withdrawing and/or transferring funds from said one or more insured money market deposit accounts so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured money market deposit accounts;
wherein the depositing and/or transferring funds to or withdrawing and/or transferring funds from step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured money market deposit account at least one other banking institution;
distributing interest paid on at least one of said insured money market deposit accounts to said clients'"'"' demand accounts; and
updating said database with each client'"'"'s deposit and authorized payment. - View Dependent Claims (144, 145, 146, 147, 148, 149, 150, 328, 365, 373)
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151. A system for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, the system comprising:
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a database comprising client information for each client demand account;
a device for administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
a device for authorizing or rejecting the use of funds in a particular client'"'"'s demand account for each payment requested from that client'"'"'s demand account;
a device for determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client demand accounts;
a comparison device for determining from said one or more net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured money market deposit accounts;
a device for processing deposits and/or transfers of said funds to or withdrawals and/or transfers of said funds from said one or more insured money market deposit accounts based on said one or more net transactions, wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured money market deposit accounts;
a device for distributing interest earned on at least one of said insured money market deposit accounts to said clients'"'"' demand accounts; and
a device for updating said database with each client'"'"'s deposits and authorized payments. - View Dependent Claims (152, 153, 154, 155, 156, 157, 158, 329)
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159. A method for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, the method comprising:
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providing a database, maintained on one or more computers, comprising client information for each client transaction account;
administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
authorizing or rejecting the use of funds in a particular client'"'"'s transaction account for each payment requested from that client'"'"'s transaction account;
determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
depositing and/or transferring funds to or withdrawing and/or transferring funds from said one or more insured interest-bearing non-demand deposit accounts based on said one or more net transactions so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured interest-bearing non-demand deposit accounts;
wherein the depositing and/or transferring funds to or withdrawing and/or transferring funds from step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing non-demand account at least one other banking institution;
distributing interest paid on at least one of said insured interest-bearing non-demand deposit accounts to said clients'"'"' transaction accounts; and
updating said database with each client'"'"'s deposit and authorized payment. - View Dependent Claims (160, 161, 162, 163, 164, 165, 166, 167, 168, 169, 170, 171, 172, 330, 366, 374)
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173. A system for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, the system comprising:
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a database comprising client information for each client transaction account;
a device for administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
a device for authorizing or rejecting the use of funds in a particular client transaction account for each payment requested from that client'"'"'s transaction account;
a device for determining on a regular basis one or more net transactions aggregated across all of said clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from their client transaction accounts;
a comparison device for determining from the one or more net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured interest-bearing non-demand deposit accounts;
a device for processing deposits and/or transfers of said funds to or withdrawals and/or transfers of said funds from said one or more insured interest-bearing non-demand deposit accounts based on said one or more net transactions, wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured interest-bearing non-demand deposit accounts;
a device for distributing interest earned on at least one of said insured interest-bearing non-demand deposit accounts to said clients'"'"' transaction accounts; and
a device for updating said database with each client'"'"'s deposits and authorized payments. - View Dependent Claims (174, 175, 176, 177, 178, 179, 180, 181, 182, 183, 184, 185, 186, 331)
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202. A method for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from said client demand accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more insured interest-bearing non-demand deposit accounts based on the determination of the one or more net transactions and wherein the manner of making transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts made during a month;
updating a database, maintained on one or more computers, comprising information for each client demand account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client demand account determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing non-demand deposit account at least one other banking institution, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client. - View Dependent Claims (201, 203, 204, 205, 206, 207, 208, 209, 210, 211, 212, 213, 311, 332)
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215. A method for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of the client demand accounts;
determining on a regular basis one or more net transactions as sums of aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from said client demand accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more insured interest-bearing non-demand deposit accounts based on the determination of the one or more net transactions and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured interest-bearing non-demand deposit accounts;
updating a database, maintained on one or more computers, comprising information for each client demand account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client demand account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing non-demand deposit account at least one other banking institution, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client. - View Dependent Claims (214, 216, 217, 218, 219, 220, 221, 222, 223, 224, 225, 226, 312, 333)
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227. A computer system for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, said computer system comprising:
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a database comprising information for each client demand account; and
a computer programmed to perform the steps of administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of the client demand accounts;
determining on a regular basis one or more net transactions as sums of the aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from their client demand accounts;
determining from the net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured interest-bearing non-demand deposit accounts, and wherein the manner of making transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured interest-bearing non-demand deposit accounts actually made during a month; and
updating said database with each client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client'"'"'s demand account. - View Dependent Claims (228, 229, 230, 231, 232, 233, 234, 235, 236, 237, 238, 239, 313, 334)
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240. A computer system for managing a plurality of client demand accounts for one or more clients, wherein the client demand account funds are held in one or more insured interest-bearing non-demand deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client demand account; and
a computer programmed to perform the steps of administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client demand accounts;
determining on a regular basis one or more net transactions as sums of the aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from their client demand accounts;
determining from the net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured interest-bearing non-demand deposit accounts, and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured interest-bearing non-demand deposit accounts; and
updating said database with each client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client'"'"'s demand account. - View Dependent Claims (241, 242, 243, 244, 245, 246, 247, 248, 249, 250, 251, 252, 314, 335)
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254. A method for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of the client transaction accounts;
determining on a regular basis one or more net transactions as sums of aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from said client transaction accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more insured money market deposit accounts based on the determination of the one or more net transactions, and wherein the manner of making transfers and/or withdrawals from at least one of said insured money market deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured money market deposit accounts made during a month;
updating a database, maintained on one or more computers, comprising information for each client transaction account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client transaction account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured money market deposit account at least one other banking institution, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client. - View Dependent Claims (253, 255, 256, 257, 258, 259, 260, 261, 262, 263, 264, 265, 315, 336)
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267. A method for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said method comprising:
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administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client transaction accounts;
determining on a regular basis one or more net transactions as sums of aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from said client transaction accounts;
causing funds to be deposited and/or transferred to or withdrawn and/or transferred from said one or more insured money market deposit accounts based on the determination of the one or more net and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured money market deposit accounts;
updating a database, maintained on one or more computers, comprising information for each client transaction account with that client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client transaction account;
determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured money market deposit account at least one other banking institution, so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client. - View Dependent Claims (266, 268, 269, 270, 271, 272, 273, 274, 275, 276, 277, 278, 316, 337)
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279. A computer system for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client account; and
a computer programmed to perform the steps of administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client transaction accounts;
determining on a regular basis one or more net transactions as sums of the aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from their client transaction accounts;
determining from the net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured money market deposit accounts, and wherein the manner of making transfers and/or withdrawals from at least one of said insured money market deposit accounts preserves that account'"'"'s interest-bearing status regardless of the number of said transfers and/or withdrawals from at least one of said insured money market deposit account actually made during a month; and
updating said database with each client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client'"'"'s transaction account. - View Dependent Claims (280, 281, 282, 283, 284, 285, 286, 287, 288, 289, 290, 291, 317, 338)
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292. A computer system for managing a plurality of client transaction accounts for one or more clients, wherein the client transaction account funds are held in one or more insured money market deposit accounts, which are not NOW accounts, at one or more banking institutions, said system comprising:
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a database comprising information for each client transaction account; and
a computer programmed to perform the steps of administering clients'"'"' deposits and/or transfers to and withdrawals and/or transfers from each of said client transaction accounts;
determining on a regular basis one or more net transactions as sums of the aggregated client deposits and/or transfers to and aggregated client withdrawals and/or transfers from their client transaction accounts;
determining from the net transactions whether to deposit and/or transfer funds to or withdraw and/or transfer funds from said one or more insured money market deposit accounts, and wherein more than six (6) transfers and/or withdrawals are made during a month from at least one of said insured money market deposit accounts; and
updating said database with each client'"'"'s deposits and/or transfers to and withdrawals and/or transfers from said each client'"'"'s transaction account. - View Dependent Claims (293, 294, 295, 296, 297, 298, 299, 300, 301, 302, 303, 304, 318, 323)
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339. A method for managing a plurality of individual client accounts for multiple clients, comprising the steps of:
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maintaining funds for said individual client accounts in one or more FDIC-insured, interest-bearing deposit accounts at one or more banking institutions;
aggregating transactions, using one or more computers, for said individual client accounts on a regular basis; and
making needed deposits to, or needed withdrawals/transfers from, said one or more deposit accounts based on said aggregated transactions so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, wherein the manner of making said withdrawals/transfers from at least one of said one or more deposit accounts preserves said deposit account'"'"'s interest-bearing status regardless of the number of said withdrawals/transfers made during a month wherein the making needed deposits to or needed withdrawals/transfers from step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing deposit account at least one other banking institution. - View Dependent Claims (340, 341, 342, 343, 344, 367, 375)
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345. A method for managing a plurality of individual client accounts for multiple clients, comprising the steps of:
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maintaining funds for said individual client accounts in one or more FDIC-insured, interest-bearing deposit accounts at one or more banking institutions;
aggregating transactions, using one or more computers, for said individual client accounts on a regular basis; and
making needed deposits to, or needed withdrawals/transfers from, said one or more deposit accounts based on said aggregated transactions so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein more than six (6) withdrawals/transfers are made during a month from at least one of said one or more deposit accounts;
wherein the making needed deposits to or needed withdrawals/transfers from step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured money market deposit account at least one other banking institution. - View Dependent Claims (346, 347, 348, 349, 350, 368, 376)
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351. A method for managing a plurality of individual client accounts for multiple clients, comprising the steps of:
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receiving transactional data for said individual client accounts from an interface to said individual client accounts;
aggregating said transactional data, using one or more computers, on a regular basis;
determining needed deposits to, or needed withdrawals/transfers from, one or more FDIC-insured, interest-bearing deposit accounts at one or more banking institutions based on said aggregated transactional data, wherein said one or more deposit accounts hold funds for said individual client accounts; and
commanding an interface to said one or more deposit accounts to make said needed deposits to, or said needed withdrawals/transfers from, said one or more deposit accounts so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, wherein the manner of making said withdrawals/transfers from at least one of said one or more deposit accounts preserves said deposit account'"'"'s interest-bearing status regardless of the number of said withdrawals/transfers made during a month;
wherein the commanding an interface step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing deposit account at least one other banking institution. - View Dependent Claims (352, 353, 354, 355, 356, 369, 377)
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357. A method for managing a plurality of individual client accounts for multiple clients, comprising the steps of:
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receiving transactional data for said individual client accounts from an interface to said individual client accounts;
aggregating said transactional data, using one or more computers, on a regular basis;
determining needed deposits to, or needed withdrawals/transfers from, one or more FDIC-insured, interest-bearing deposit accounts at one or more banking institutions based on said aggregated transactional data, wherein said one or more deposit accounts hold funds for said individual client accounts; and
commanding an interface to said one or more deposit accounts to make said needed deposits to, or said needed withdrawals/transfers from, said one or more deposit accounts so that FDIC insurance coverage greater than the maximum FDIC insurance coverage allowed for each depositor in a FDIC-insured banking institution is effectively provided for each client, and wherein more than six (6) withdrawals/transfers from at least one of said one or more deposit accounts are made during a month;
wherein the commanding an interface step further comprises determining whether each client'"'"'s funds held in a banking institution are more than a specified amount; and
distributing any amounts over said specified amount into at least one other insured interest-bearing deposit account at least one other banking institution. - View Dependent Claims (358, 359, 360, 361, 362, 370, 378)
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Specification