METHOD FOR LIMITING DEBIT CARD TRANSACTIONS
First Claim
1. A method for placing limits on debit card transactions, comprising the steps of:
- establishing a limited debit card account that is linked to a funding financial account;
establishing a frequency for funding the limited debit card account;
establishing a maximum amount set by an individual to be funded to the limited debit card account; and
issuing a limited debit card linked to the limited debit account.
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Abstract
A method for limiting debit card transactions includes establishing a limited debit card account linked to a financial funding account. A frequency period for funding the limited debit account and a maximum holding amount for the limited debit account are established by an individual. A debit card linked to the limited debit account is issued to the individual for making withdrawals and purchases. Based on a predetermined method and time period interest is paid by the entity maintaining the limited debit account, to the individual. Also, upon expiration of the frequency period funds are transferred from the financial funding account to the limited debit account to return the limited debit account to the designated maximum holding amount.
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Citations
12 Claims
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1. A method for placing limits on debit card transactions, comprising the steps of:
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establishing a limited debit card account that is linked to a funding financial account; establishing a frequency for funding the limited debit card account; establishing a maximum amount set by an individual to be funded to the limited debit card account; and issuing a limited debit card linked to the limited debit account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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Specification