Methods For Processing A Group Of Accounts Corresponding To Different Products

• US 20080046358A1
• Filed: 10/22/2007
• Published: 02/21/2008
• Est. Priority Date: 04/24/1998
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Hodges, Michael, Kathol, Eugene, Vovk, Paula, Timmins, Debra, Rashleigh, Carol, Beck, Darren, Holm-Blagg, Lynn
• Application Number:
  US11/876,500
• Publication Number:
  US 20080046358A1
• 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 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Processing a group of accounts corresponding to different products. A group of accounts are linked together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. Typically, a group includes a key account and one or more dependent accounts. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Group level processing includes authorizing transactions, applying group payments, creating group statements, creating cardholder communications, and administering reward programs. Each dependent account has an associated dependent strategy that specifies group level processing options for the dependent account.

Claims

1-61. -61. (canceled)

62. A method for applying funds to a group allocation, the group allocation comprising a plurality of accounts spanning a plurality of account products, comprising the steps of:

receiving funds at a computer system;

determining, at the computer system, that the funds are to be included in a group allocation, wherein determining that the funds are to be in a group allocation comprises identifying one or more accounts to which the funds are associated and determining that the one or more accounts are associated with a group;

comparing the group allocation to a group balance, wherein the group balance indicates an amount to be transferred to one or more accounts associated with the group allocation amount;

determining, at the computer system, a group allocation amount, wherein the group allocation amount specifies how the funds are to be allocated among the accounts with in the group; and

applying the group allocation to the accounts included in the group allocation amount, wherein a balance associated with one or more accounts included in the group allocation amount is changed through application of at least a portion of the funds.

63. The method of claim 62, wherein the group balance comprises a liability in association with at least one of the one or more accounts.

64. The method of claim 62, wherein a balance associated with one or more accounts included in the group allocation amount comprises a liability and the balance is reduced through application of at least a portion of the funds.

65. The method of claim 62, wherein the step of determining which accounts are included in a group allocation amount comprises:

determining which accounts were included in a previous group balance on a previous group statement.

66. The method of claim 62, further comprising the steps of:

applying the group allocation to the accounts in the group according to an allocation instruction.

67. The method of claim 66, wherein the allocation instruction is a standing instruction that applies to all funds received in regard to the group allocation.

68. The method of claim 66, wherein the allocation instruction applies to a specific funds received.

69. A method for applying a group allocation to a group, the group comprising a plurality of accounts spanning a plurality of products, including a key account and a dependent account, comprising the steps of:

receiving funds at a computer system;

determining that the funds are for a group allocation;

determining a group balance, wherein the group balance indicates an amount to be transferred to one or more accounts;

comparing the group allocation to the group balance;

identifying a group allocation option based upon the comparison between the group allocation and the group balance;

allocating the group allocation between the key account and the dependent account based upon the group allocation option, the group allocation, the group balance, a key account balance and a dependent account balance; and

applying the group allocation in accordance with the allocation, wherein the applying the group allocation changes the balance in association with at least one of the dependent accounts and the key account.

70. The method of claim 69, wherein the group balance comprises a liability in association with at least one of at least one of the dependent accounts and the key account.

71. The method of claim 69, wherein the applying the group allocation reduces a liability in association with at least one of the dependent accounts and the key account.

72. The method of claim 69, further comprising:

allocating an amount of the group allocation that exceeds the group balance to the key account when the group allocation exceeds the group balance.

73. The method of claim 69, further comprising:

determining a second group allocation option; and

allocating the group allocation to the key account and the dependent account in accordance with the second group allocation option.

74. The method of claim 69, further comprising:

determining whether the group allocation is subject to an override instruction;

allocating the group allocation between the key account and the dependent account in accordance with the override instruction.

75. A computer system for applying a group allocation to a group, the system comprising:

one or more processors;

a computer readable medium having stored thereon a set of instructions executable by the one or more processors, the set of instructions comprising;

instructions for receiving funds at the computer system;

instructions for determining, at the computer system, that the funds are to be included in a group allocation, wherein determining that the funds are to be in a group allocation comprises identifying one or more accounts to which the funds are associated and determining that the one or more accounts are associated with a group;

instructions for comparing the group allocation to a group balance, wherein the group balance indicates an amount to be transferred to one or more accounts associated with the group allocation amount;

instructions for determining, at the computer system, a group allocation amount, wherein the group allocation amount specifies how the funds are to be allocated among the accounts with in the group; and

instructions for applying the group allocation to the accounts included in the group allocation amount, wherein a balance associated with one or more accounts included in the group allocation amount is changed through application of at least a portion of the funds.

76. A computer readable medium having stored thereon a computer program comprising a set of instructions executable by one or more processors, the set of instructions comprising:

instructions for receiving funds at a computer system executing the computer program;

instructions for determining, at the computer system, that the funds are to be included in a group allocation, wherein determining that the funds are to be in a group allocation comprises identifying one or more accounts to which the funds are associated and determining that the one or more accounts are associated with a group;

instructions for comparing the group allocation to a group balance, wherein the group balance indicates an amount to be transferred to one or more accounts associated with the group allocation amount;

instructions for determining, at the computer system, a group allocation amount, wherein the group allocation amount specifies how the funds are to be allocated among the accounts with in the group; and

instructions for applying the group allocation to the accounts included in the group allocation amount, wherein a balance associated with one or more accounts included in the group allocation amount is changed through application of at least a portion of the funds.