Method and apparatus for financing community expenses

• US 20080010194A1
• Filed: 07/10/2006
• Published: 01/10/2008
• Est. Priority Date: 07/10/2006
• Status: Abandoned Application

• Current Assignee: Automated Payment Highway, Inc.
• Original Assignee: Automated Payment Highway, Inc.
• Inventors: Thomas, Vincent P.
• Application Number:
  US11/483,993
• Publication Number:
  US 20080010194A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A method (400, 500, 600) and apparatus for financing community expenses is disclosed. According to an embodiment, the method (400, 600) includes the steps of providing (S.408, S.509, S.609) to a virtual treasurer (100) one or more amounts to be paid to one or more payees (46) and requesting (S.410, S.512, S.615) that the virtual treasurer (100) move a designated amount of funds from a fund account (112a-112c) of each member (102a-102c) of a community (102) to the one or more payees (46). According to an embodiment the method (500) includes the steps of moving (S.508) funds from a fund account (112a-112c) of each member (102a-102c) of a community (102) to a community expense deposit account of a virtual treasurer (100), providing (S.509) to the virtual treasurer (100) one or more amounts to be paid to one or more payees (46), and requesting (S.512) that the virtual treasurer (100) move a designated amount of funds from the community expense deposit account to the one or more payees (46). According to an embodiment, the apparatus includes payee end (16) including one or more payee fund accounts (44), a community end (12) including one or more fund accounts (26) of each member (28) of a community (30), and a provider end (14) that moves a designated amount of funds from the one or more fund accounts (26) of each member (28) of the community (30) to the one or more payee fund accounts (44) of one or more payees (46).

Claims

1. A method (400, 600) for financing community expenses, comprising the steps of:

providing (S.408, S.509, S.609) to a virtual treasurer (100) one or more amounts to be paid to one or more payees (46); and

requesting (S.410, S.512, S.615) that the virtual treasurer (100) move a designated amount of funds from a fund account (112a-112c) of each member (102a-102c) of a community (102) to the one or more payees (46).

2. The method (400, 600) according to claim 1, wherein the one or more amounts to be paid are community expenses (106) for goods/services that are sharably-consumed by the members (102a-102c) of the community (102).

3. The method (400, 600) according to claim 2 further comprising the step of registering (S.406, S.606), with the virtual treasurer (100), user-defined payment variable(s) related to a proportional amount of the good/services that is/are sharably-consumed by one or more designated member(s) (102a-102c) of the community (102).

4. The method (400, 600) according to claim 1, wherein one or more of the fund accounts (112a-112c) is funded by a third party (108) that funds the community expenses (106) of one or more of the members (102a-102c).

5. The method (400, 600) according to claim 1 further comprising the step of registering (S.403, S.603), with the virtual treasurer (100), usernames, passwords, and email addresses associated with each member (102a-102c) of the community (102).

6. The method (400, 600) according to claim 1 further comprising the step of registering (S.404, S.604), with the virtual treasurer (100), fund accounts (112a-112c) associated with each member (102a-102c) of the community (102).

7. The method (400, 600) according to claim 1 further comprising the step of registering (S.405, S.605), with the virtual treasurer (100), payee account(s) of the payee(s) (46).

8. The method (400, 600) according to claim 1, wherein, after the requesting step (S.410), if the designated amount of funds from a fund account (112a-112c) of each member (102a-102c) is available, authorizing (S.412, S.617) the virtual treasurer (100) to pay the one or more payee(s) (46) with funds from the fund account (112a-112c) of each member (102a-102c).

9. The method (400, 600) according to claim 8, wherein, after the authorizing step (S.412, S.617), providing a notice (S.412, S.618) to the members (102a-102c) that the one or more payee(s) (46) were paid.

10. The method (400, 600) according to claim 8, wherein, after the authorizing step (S.412, S.617), providing (S.414, S.619) a payment summary report and/or charging a service fee for brokering the transaction with the virtual treasurer (100).

11. The method (600) according to claim 1, wherein, prior to the requesting step (S.615), moving funds (S.608) from the fund account (112a-112c) of each member (102a-102c) of the community (102) to a community expense deposit account of the virtual treasurer (100).

12. The method (600) according to claim 11, wherein, if adequate funds are not available in the community expense deposit account (S.611, S.612), saving (S.613) the one or more amounts to be paid to one or more payees (46), and preventing (S.614) said requesting step (S.615) to occur.

13. The method (600) according to claim 11, wherein, if adequate funds are available in the community expense deposit account (S.611), allowing said requesting step (S.615) to occur, and, if the designated amount of funds from the fund account (112a-112c) of each member (102a-102c) is not available (S.616), determining (S.620) if the designated amount of funds from the fund account (112a-112c) is available in the community expense deposit account.

14. The method (600) according to claim 13, if the designated amount of funds from the fund account (112a-112c) is not available in the community expense deposit account (S.620), sending (S.621) a notice to the members (102a-102c) that inadequate funds are in the fund accounts (112a-112c) and community expense deposit account, placing (S.622) a hold on the request step (S.615) and saving the one or more amounts to be paid to one or more payees (46), and preventing said requesting step (S.615) to occur.

15. The method (600) according to claim 13, if the designated amount of funds from the fund account (112a-112c) is available in the community expense deposit account (S.620), drawing (S.624) the designated amount of funds from the community expense deposit account, providing (S.625) a payment summary report, notice to the members (102a-102c) of the lack of available funds in the fund account (112a-112c), and/or charge for brokering the transaction with the virtual treasurer (100).

16. A method (500) for financing community expenses, comprising the steps of:

moving (S.508) funds from a fund account (112a-112c) of each member (102a-102c) of a community (102) to a community expense deposit account of a virtual treasurer (100);

providing (S.509) to the virtual treasurer (100) one or more amounts to be paid to one or more payees (46); and

requesting (S.512) that the virtual treasurer (100) move a designated amount of funds from the community expense deposit account to the one or more payees (46).

17. The method (500) according to claim 16, wherein the one or more amounts to be paid are community expenses (106) for goods/services that are sharably-consumed by the members (102a-102c) of the community (102).

18. The method (500) according to claim 17 further comprising the step of registering (S.506), with the virtual treasurer (100), user-defined payment variable(s) related to a proportional amount of the good/services that is/are sharably-consumed by one or more designated member(s) (102a-102c) of the community (102).

19. The method (500) according to claim 16, wherein one or more of the fund accounts (112a-112c) is funded by a third party (108) that funds the community expenses (106) of one or more of the members (102a-102c).

20. The method (500) according to claim 16 further comprising the step of registering (S.503), with the virtual treasurer (100), usernames, passwords, and email addresses associated with each member (102a-102c) of the community (102).

21. The method (500) according to claim 16 further comprising the step of registering (S.504), with the virtual treasurer (100), fund accounts (112a-112c) associated with each member (102a-102c) of the community (102).

22. The method (500) according to claim 16 further comprising the step of registering (S.505), with the virtual treasurer (100), payee account(s) of the payee(s) (46).

23. The method (500) according to claim 16, wherein, if adequate funds are not available in the community expense deposit account (S.511), providing a notice to each member (102a-102c, 108) that adequate funds are not available and saving (S.515) the one or more amounts to be paid to one or more payees (46), and preventing said requesting step (S.512) to occur.

24. The apparatus according to claim 23, wherein the provider end (14) moves the designated amount of funds electronically over the Internet (18).

25. The apparatus according to claim 23, wherein the provider end includes a virtual treasurer (100), wherein the virtual treasurer (100) includes an Internet server (34) and/or database (36) that utilizes information registered by or on behalf of each member (28).

26. The apparatus according to claim 25, wherein the registered information includes user-defined payment variable(s) related to a proportional amount of the good/services that is/are sharably-consumed by one or more designated member(s) (28) of the community (30).

27. The apparatus according to claim 25, wherein the registered information includes usernames, passwords, and email addresses associated with each member (28) of the community (30).

28. The apparatus according to claim 25, wherein the registered information includes the one or more fund accounts (26) associated with each member (28) of the community (30).

29. The apparatus according to claim 25, wherein the registered information includes the one or more payee fund accounts (44).

30. The apparatus according to claim 23, wherein the community end (12) includes one or more fund accounts (26) associated with one or more third parties (108) that funds the community expenses (106) of one or more of the members (28).

31. The apparatus according to claim 23, wherein the provider end (14) includes a call center (40) for verbally assisting the movement of funds to the members (28) or payee(s) (46).

23-1. An apparatus for financing community expenses, comprising:

a payee end (16) including one or more payee fund accounts (44);

a community end (12) including one or more fund accounts (26) of each member (28) of a community (30); and

a provider end (14) that moves a designated amount of funds from the one or more fund accounts (26) of each member (28) of the community (30) to the one or more payee fund accounts (44) of one or more payees (46).