MASTER FINANCIAL ACCOUNT

• US 20100241545A1
• Filed: 03/20/2009
• Published: 09/23/2010
• Est. Priority Date: 03/20/2009
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Johnson, Shane A., Bierer, Jeffrey H., Ariff, Kazi M., Borowski, William F., Thomas, Susan S., Wolfson, Neal G., Judd, Jeffrey P., Smith, Carol A., Li, Yicong, Kelley, Thomas D., Hayes, Steven K., Anderson, Judith M., Aheron, William J., O'Connor, Sean M., Tipper, Russell W., Kirkman, James P.
• Application Number:
  US12/407,842
• Publication Number:
  US 20100241545A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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

Apparatus and methods for configuring a master financial account providing comprehensive access to financial services are provided. A master account may be configured for a customer of a financial institution. The master account holder may build a customized array of financial services which may be accessed and managed through the master account. Benefits associated with use of a sub-account may accrue collectively in the master account.

Claims

1. A method for electronically configuring a master financial account, the account providing comprehensive access to financial services, the method comprising:

receiving a request for a master financial account;

associating the master financial account with a master account number;

receiving a selection of a financial service from a master account holder;

configuring a sub-account of the master financial account, the subaccount associated with master account number;

associating the selected financial service with the sub-account of the master financial account.

2. The method of claim 1 wherein the method further comprises associating a master personal identification number with the master account, the personal identification number used to access the master account and the sub-account.

3. The method of claim 1 wherein the method further comprises providing access to the master financial account and the sub-account via an electronic information processing platform, the method comprising configuring a master login associated with the master account and the sub-account.

4. The method of claim 3, the method further comprising configuring a master password associated with the master account and the sub-account.

5. The method of claim 3 wherein the access comprises using the electronic information platform to execute an account management transaction related to the sub-account.

6. The method of claim 3 wherein the access comprises using the electronic information platform to view a record related to the sub-account.

7. A method for establishing an entitlement to a customer benefit, the method comprising:

allocating a first entitlement to a first benefit, the benefit predetermined to correspond to an activity related to a first account;

allocating a second entitlement to a second benefit, the benefit predetermined to correspond to an activity related to a second account;

combining the first and second entitlements; and

receiving a benefit by redeeming at least part of the combined entitlement.

8. The method of claim 7, wherein the benefit comprises at least one of a product and a service.

9. The method of claim 7, wherein the benefit comprises cash to be deposited in a customer account.

10. A method for an electronic determination to extend an offer of a financial service to a customer of a financial institution the method comprising:

storing in machine readable memory at least one of customer personal data related to an existing account and customer financial data related to an existing account;

using a processor, analyzing the customer personal data and customer financial data to assess suitability for a financial service; and

upon receipt of a predetermined trigger within the customer personal data and/or customer financial data, transmitting an offer to the customer.

11. One or more computer-readable media storing computer-executable instructions, which, when executed by a processor on a computer system, perform a method for providing a master account holder with access to financial services, the method comprising:

receiving a selection of a financial service from a master account holder;

configuring a master financial account to provide the master account holder with access to a sub-account;

associating the financial service with the master account, the financial service corresponding to the sub-account; and

storing in machine readable memory data associated with the sub-account.

12. The media of claim 11 wherein, in the method, the financial service comprises at least one of a checking account, saving account, credit card, mortgage, brokerage account, college saving account, and retirement saving account.

13. The media of claim 11, the method further comprising providing access to the master financial account via an electronic information processing platform.

14. The media of claim 13 wherein, in the method, a master login is configured to provide access to the master financial account and the sub-account.

15. The media of claim 13 wherein, in the method, a master password is configured to provide access to the master financial account and the sub-account.

16. The media of claim 11 wherein, in the method, the stored data is used to generate an offer of a financial service to the master account holder.

17. The media of claim 11, the method further comprising, associating a benefit with the master financial account, the benefit accruing based on activity within a sub-account.

18. A system for electronically configuring a master financial account providing access to financial services, the system comprising:

an input module configured to receive a selection of a financial service from a master account holder; and

a processor module configured to create a sub-account associated with the selected financial service, the sub-account access provided via the master financial account.

19. The system of claim 18 wherein the processor module is further configured to:

receive one or both of personal and financial data related to the master account holder; and

store the data in machine readable memory.

20. The system of claim 19, the system further comprising an output module configured to output an offer of a financial service to the master account holder, the offer dependent on the stored data.