UNIVERSAL ROLLOVER ACCOUNT
First Claim
1. A payment account system associated with a transaction instrument to pay for items purchased by a card member from a provider, comprising:
- a tax-advantaged funding source to provide a first part of funds for payment to the provider using the transaction instrument; and
a non-tax-advantaged funding source to provide a second part of the funds for payment to the provider using the transaction instrument.
4 Assignments
0 Petitions
Accused Products
Abstract
A system, method and computer program product for allowing users to set-up a separate stored value account on their transaction instrument to fund expenses. The stored value account, referred to herein as a Universal Rollover Account (URA) system, can be funded by check, an Automated Clearing House (ACH), or by charging another card or transaction instrument. Users and/or card-members will be given access to a web portal to manage their Universal Rollover Accounts, including changing their funding method, adding or withdrawing funds, and changing their configuration such that the URA bucket can come before or after other funding accounts in a payment hierarchy.
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Citations
28 Claims
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1. A payment account system associated with a transaction instrument to pay for items purchased by a card member from a provider, comprising:
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a tax-advantaged funding source to provide a first part of funds for payment to the provider using the transaction instrument; and a non-tax-advantaged funding source to provide a second part of the funds for payment to the provider using the transaction instrument. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A method of funding a payment account associated with a transaction instrument, comprising:
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(a) loading funds from a tax-advantaged funding source into the payment account associated with the transaction instrument prior to a purchase of an item by a member; (b) loading additional funds from a non-tax-advantaged funding source into the payment account associated with the transaction instrument prior to the purchase of the item by the member; and (c) authorizing a payment for the purchased item up to a total amount of the funds available in the payment account. - View Dependent Claims (9, 10, 11, 12, 14, 15, 16, 17, 18, 20, 21)
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13. (canceled)
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19. (canceled)
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22. A method for processing a healthcare related purchase, comprising:
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(a) enrolling a card member into a universal rollover account; (b) updating the card member'"'"'s financial information; (c) linking the universal rollover account to at least one of a tax-advantaged and a non-tax-advantaged funding source; (d) loading funds into the universal rollover account; and (e) withdrawing the funds from the universal rollover account to pay for a healthcare item purchased by the card member. - View Dependent Claims (23, 25, 26)
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24. (canceled)
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27. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to maintain a card member'"'"'s universal healthcare rollover account bucket, said control logic comprising:
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computer readable program code containing a set of instructions for enrolling the card member via a web-portal; computer readable program code for linking the universal rollover account bucket to a tax-advantaged funding source database; computer readable program code for linking the universal rollover account bucket to a non-tax-advantaged funding source database; and computer readable code for causing the computer to load the universal rollover account bucket with funds from at least one of (1) the tax-advantaged funding source database and (2) the non-tax-advantaged funding source database. - View Dependent Claims (28)
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Specification