SYSTEM AND METHOD FOR FACILITATING A SUBSIDIARY CARD ACCOUNT
First Claim
1. A method comprising:
- allocating, by a computer based system for administering a subsidiary account, a first credit line to the subsidiary account, wherein the first credit line is at least a portion of an available credit line of a parent account, and wherein the first credit line is provided by a first account issuer;
authorizing, by the computer based system, a second credit line associated with the subsidiary account and provided by a second account issuer, wherein the second account issuer is situated in a second country that is different from a first country associated with the first account issuer;
defining, by the computer based system, a subsidiary account spending capacity based on the first credit line, and the second credit line; and
authorizing, by the computer based system, a purchase with a subsidiary account, wherein purchases using the subsidiary account are limited by the subsidiary account spending capacity.
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Accused Products
Abstract
The present invention provides a system and method for providing a flexible limit subsidiary account that may be issued by a Foreign Financial Institution. In particular, the present provides a system and method for allowing a parent to provide funds to a subsidiary and to control the spending of subsidiary or spending capacity. The card account may be issued at the request of the parent who may retain the ability to define, modify, and/or terminate the spending and/or debt accumulation limits for the subsidiary card account as well as other features as described in the attached disclosure. The system may be configured to provide the ability for parent to eliminate risks associated with fluctuations in currency exchange rates by committing to fixed automatic long-term charges at a fixed foreign exchange rate for a fixed term.
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Citations
20 Claims
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1. A method comprising:
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allocating, by a computer based system for administering a subsidiary account, a first credit line to the subsidiary account, wherein the first credit line is at least a portion of an available credit line of a parent account, and wherein the first credit line is provided by a first account issuer; authorizing, by the computer based system, a second credit line associated with the subsidiary account and provided by a second account issuer, wherein the second account issuer is situated in a second country that is different from a first country associated with the first account issuer; defining, by the computer based system, a subsidiary account spending capacity based on the first credit line, and the second credit line; and authorizing, by the computer based system, a purchase with a subsidiary account, wherein purchases using the subsidiary account are limited by the subsidiary account spending capacity. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A tangible non-transitory computer-readable storage medium having computer-executable instructions stored thereon that, if executed by a computer based system for administering a subsidiary account, cause the computer based system to perform operations comprising:
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allocating, by the computer based system, a first credit line to the subsidiary account, wherein the first credit line is at least a portion of an available credit line of a parent account, and wherein the first credit line is provided by a first account issuer; authorizing, by the computer based system, a second credit line associated with the subsidiary account and provided by a second account issuer, wherein the second account issuer is situated in a second country that is different from a first country associated with the first account issuer; defining, by the computer based system, a subsidiary account spending capacity based on the first credit line, and the second credit line; and authorizing, by the computer based system, a purchase with a subsidiary account, wherein purchases using the subsidiary account are limited by the subsidiary account spending capacity.
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20. A system comprising:
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a tangible, non-transitory memory communicating with a processor for administering a subsidiary account, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; allocating, by the processor, wherein the first credit line is at least a portion of an available credit line of a parent account, and wherein the first credit line is provided by a first account issuer; authorizing, by the processor, a second credit line associated with the subsidiary account and provided by a second account issuer, wherein the second account issuer is situated in a second country that is different from a first country associated with the first account issuer;
defining, by the processor, a subsidiary account spending capacity based on the first credit line, and the second credit line; andauthorizing, by the processor, a purchase with a subsidiary account, wherein purchases using the subsidiary account are limited by the subsidiary account spending capacity.
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Specification