Systems and Methods for Adjusting Crediting Limits to Facilitate Transactions

• US 20090048952A1
• Filed: 09/30/2008
• Published: 02/19/2009
• Est. Priority Date: 11/05/1999
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Bishop, Fred, Thomas, Tracey R., Sharma, Bansi L.
• Granted Patent: US 7,979,349 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• 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 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.

Claims

1. A method for a financial account issuer to facilitate a transaction, the method comprising:

receiving, at the financial account issuer, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server;

receiving, at the financial account issuer, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account;

determining, by the financial account issuer, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent;

decreasing, by the financial account issuer, a first credit limit of the first financial account, if the request to debit is not fraudulent; and

,

increasing, by the financial account issuer, a second credit limit of the second financial account, if the request to credit is not fraudulent.

2. The method of claim 1, wherein decreasing comprises decreasing the first credit limit of the first financial account by an amount equal to the first amount, and increasing comprises increasing the second credit limit of the second financial account by an amount at least one of greater than or less than the first amount.

3. The method of claim 1, wherein decreasing comprises decreasing the first credit limit of the first financial account by an amount at least one of greater than or less than the first amount, and increasing comprises increasing the second credit limit of the second financial account by an amount equal to the first amount.

4. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account.

5. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account, in response to a payment being received to settle a charge associated with the first amount on the first financial account.

6. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account and paying interest to the second financial account on the cash credit.

7. The method of claim 1, wherein no items are exchanged between the owner of the first financial account and the owner of the second financial account.

8. The method of claim 1, wherein an item is exchanged between a first party associated with the first financial account and a second party associated with the second financial account.

9. The method of claim 1, wherein an item is exchanged between a first party associated with the first financial account and a second party associated with the second financial account, wherein the item comprises at least one of a good, service, information, experience, access, or entertainment.

10. The method of claim 1, wherein an item is exchanged between a first party associated with the first financial account and a second party associated with the second financial account, wherein the item was identified through at least one of classified advertisement, auction, internet posting, or internet auction.

11. The method of claim 1, wherein a second financial account issuer issued the second financial account, wherein the second financial account issuer is different from the first financial account issuer.

12. The method of claim 1, wherein the financial account issuer comprises a first financial account issuer and a second financial account issuer, and wherein the first financial account issuer issued the first financial account and the second financial account issuer issued the second financial account.

13. The method of claim 1, further comprising determining an account issuer associated with at least one of the first financial account or the second financial account.

14. The method of claim 1, wherein the financial account issuer comprises at least one of a transaction account issuer, charge card issuer, credit card issuer, debit card issuer, gift card issuer, bank, lender, credit union, or a third party issuer under contract with the financial account issuer.

15. The method of claim 1, further comprising receiving notification, at the financial account issuer, that an item associated with the first amount has been at least one of received or approved by a first party associated with the first financial account, prior to increasing the second credit limit on the second financial account.

16. The method of claim 1, further comprising receiving notification, at the financial account issuer, that an item associated with the first amount has been shipped by a second party associated with the second financial account, prior to increasing the second credit limit on the second financial account.

17. The method of claim 1, further comprising receiving notification, at the financial account issuer, that an item associated with the first amount has been shipped by a second party associated with the second financial account, prior to increasing the second credit limit on the second financial account.

18. The method of claim 1, further comprising conducting a credit risk analysis associated with at least one of the first financial account or the second financial account.

19. A method for a financial account issuer to facilitate a transaction, the method comprising:

sending, to the financial account issuer, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server; and

,

sending, to the financial account issuer, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account, wherein the financial account issuer decreases a first credit limit of the first financial account, if the request to debit is not fraudulent and, the financial account issuer increases a second credit limit of the second financial account, if the request to credit is not fraudulent.

20. A computer-readable medium having stored thereon a plurality of instructions for a financial account issuer to facilitate a transaction, the plurality of instructions comprising:

instructions to receive, at the financial account issuer, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server;

instructions to receive, at the financial account issuer, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account;

instructions to determine, by the financial account issuer, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent;

instructions to decrease, by the financial account issuer, a first credit limit of the first financial account, if the request to debit is not fraudulent; and

,

instructions to increase, by the financial account issuer, a second credit limit of the second financial account, if the request to credit is not fraudulent.