CUSTOMER-DEFINED ACCOUNT MANAGEMENT RULES FOR IMPROVED LINKED FINANCIAL INSTITUTION ACCOUNT MANAGEMENT
First Claim
1. A method for managing financial institution accounts, the method comprising:
- receiving, at a computing device, one or more financial institution account link requests, wherein each link request provides for linking two or more financial institution accounts associated with a customer;
providing for one or more financial institution account links based on the one or more link requests;
receiving, at a computing device, customer selection of account management rules associated with a plurality of the linked financial institution accounts, wherein at least one of the customer selected account management rules is operable to maximize the customer'"'"'s rate of return associated with the plurality of linked financial institution accounts and at least one of the customer-selected account management rules is operable to ensure adequate fund availability in one or more of the plurality of linked financial institution accounts for the purpose of funding an expenditure;
storing, in computing device memory, the one or more account management rules in a customer profile associated with the customer;
managing, via a computing device processor, funds in the plurality of linked financial institution accounts based on the account management rule that is operable to maximize the customer'"'"'s rate of return, wherein managing includes,(1) dynamically determining a maximum balance limit for a low-interest bearing payment account included in the linked financial institution accounts based on logically determining, from historical account activity, one or more recurring debits and an amount and payment time associated with each recurring debit.(2) determining that the maximum balance limit has been met, and in response to determining that maximum balance has been met, and(3) automatically transferring funds in excess of the maximum balance limit from the one of the linked financial institution accounts to a higher-interest bearing savings account included in the linked financial institution accounts; and
managing, via a computing device processor, funds in the plurality of linked financial institution accounts based on the account management rule that is operable to ensure adequate fund availability, wherein managing includes,(1) determining that a payment account included in the linked financial institution accounts is unable to fund an expenditure,(2) determining an account transfer priority for transferring to the payment account from one or more transferor accounts included in the linked financial institution accounts,(3) dynamically determining a hold time period associated with transferring to the payment account, wherein determining the hold time is based on (i) type of transferor account, (ii) amount of transfer and (iii) physical location of transferor account,(4) transferring funds to the payment account from one or more transferor accounts based on the transfer priority, and(5) providing payment for the expenditure from the payment account alter conclusion of the hold time period.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems, methods, and computer program products are provided for customer-defined financial institution account management rules associated with linked financial institution accounts. The methods, systems and computer program products herein described allow the customer to define rules that maximize the customer'"'"'s rate of return and/or minimizing the likelihood of insufficient funding of an account leading to a withdrawal in excess of account balance. Thus, poor utilization of cash in terms of excessive balances in non-interest bearing accounts or low-interest bearing accounts is minimized by automatically transferring, based on a customer-defined rules, the funds to a higher rate of return account. Additionally, managing a primary payment account, such as a checking or bill account, is addressed so as to ensure that funds are sufficient to cover the customer'"'"'s expenditures.
-
Citations
23 Claims
-
1. A method for managing financial institution accounts, the method comprising:
-
receiving, at a computing device, one or more financial institution account link requests, wherein each link request provides for linking two or more financial institution accounts associated with a customer; providing for one or more financial institution account links based on the one or more link requests; receiving, at a computing device, customer selection of account management rules associated with a plurality of the linked financial institution accounts, wherein at least one of the customer selected account management rules is operable to maximize the customer'"'"'s rate of return associated with the plurality of linked financial institution accounts and at least one of the customer-selected account management rules is operable to ensure adequate fund availability in one or more of the plurality of linked financial institution accounts for the purpose of funding an expenditure; storing, in computing device memory, the one or more account management rules in a customer profile associated with the customer; managing, via a computing device processor, funds in the plurality of linked financial institution accounts based on the account management rule that is operable to maximize the customer'"'"'s rate of return, wherein managing includes, (1) dynamically determining a maximum balance limit for a low-interest bearing payment account included in the linked financial institution accounts based on logically determining, from historical account activity, one or more recurring debits and an amount and payment time associated with each recurring debit. (2) determining that the maximum balance limit has been met, and in response to determining that maximum balance has been met, and (3) automatically transferring funds in excess of the maximum balance limit from the one of the linked financial institution accounts to a higher-interest bearing savings account included in the linked financial institution accounts; and
managing, via a computing device processor, funds in the plurality of linked financial institution accounts based on the account management rule that is operable to ensure adequate fund availability, wherein managing includes,(1) determining that a payment account included in the linked financial institution accounts is unable to fund an expenditure, (2) determining an account transfer priority for transferring to the payment account from one or more transferor accounts included in the linked financial institution accounts, (3) dynamically determining a hold time period associated with transferring to the payment account, wherein determining the hold time is based on (i) type of transferor account, (ii) amount of transfer and (iii) physical location of transferor account, (4) transferring funds to the payment account from one or more transferor accounts based on the transfer priority, and (5) providing payment for the expenditure from the payment account alter conclusion of the hold time period. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
-
-
12. An apparatus for managing financial institution accounts, the apparatus comprising:
-
a computer platform, including at least one processor and a memory; a customer profile database stored in the memory; an account linking module stored in the memory, executable by the at least one processor, and operable to receive one or more financial institution account linking requests and provide for one or more financial institution links, wherein each link provides for linking two or more financial institution accounts associated with a customer; an account rules module stored in the memory, executable by the at least one processor, and operable to receive customer selection of account rules associated with a plurality of the linked financial institution accounts and store the rules in a customer profile associated with the customer, wherein at least one of the customer selected account rules is operable to maximize the customer'"'"'s rate of return associated with the plurality of linked financial institution accounts and at least one of the customer-selected account management rules Is operable to ensure adequate fund availability in one or more of the plurality of linked financial institution accounts for the purpose of funding an expenditure; and an account management module stored in the memory, executable by the at least one processor, operable to manage funds in the plurality of financial institution customer accounts based on the account rules that are operable to maximize the customer'"'"'s rate of return and ensure adequate funds, and including, account balance need logic operable to (1) dynamically determine a maximum account balance for a low-interest bearing payment account included in the linked financial institution accounts based on logically determining, from historical account activity, one or more recurring debits and an amount and payment time associated with each recurring debit, (2) determine that the maximum balance has been met, and (3) automatically transfer funds in excess of the maximum balance limit from the one of the linked financial institution accounts to a higher-interest bearing savings account included in the linked financial institution accounts, a fund transfer routine operable to (1) determine that a payment account included in the linked financial institution accounts is unable to fund an expenditure, (2) determine an account transfer priority for transferring to the payment account from one or more transferor accounts included in the linked financial institution accounts, (3) transfer funds to the payment account from one or more transferor accounts based on the transfer priority, and (4) provide payment for the expenditure from the payment account after conclusion of a hold time period, and a payment hold routine operable to dynamically determine the hold time period associated with transferring to the payment account, wherein determining the hold time is based on type of transferor account, amount of transfer and physical location of transferor account. - View Dependent Claims (13, 14, 15, 16)
-
-
17. A computer program product comprising:
-
a non-transitory computer-readable medium comprising; a first set of codes for causing a computer to receive one or more financial institution account link requests, wherein each link request provides for linking two or more financial institution accounts associated with a customer; a second set of codes for causing a computer to provide for one or more financial institution account links based on the one or more link requests; a third set of codes for causing a computer to receive customer selection of account management rules associated with a plurality of the linked financial institution accounts, wherein at least one of the customer selected account management rules is operable to maximize the customer'"'"'s rate of return associated with the plurality of linked financial institution accounts and at least one of the customer-selected account management rules is operable to ensure adequate fund availability in one or more of the plurality of linked financial institution accounts for the purpose of funding an expenditure; a fourth set of codes for causing a computer to store the one or more account management rules in a customer profile associated with the customer; a fifth set of codes for causing a computer to manage funds in the plurality of linked financial institution accounts based on the account management rule that is operable to maximize the customer'"'"'s rate of return, wherein managing includes (1) dynamically determining a maximum balance limit for a low-interest bearing payment account included in the linked financial institution accounts based on logically determining, from historical account activity, one or more recurring debits and an amount and payment time associated with each recurring debit, (2) determining that the maximum balance limit has been met, and, in response to determining that maximum balance limit from the one of the linked financial institution accounts to a higher-interest bearing savings account included in the linked financial institution accounts; and a sixth set of codes for causing a computer to manage funds in the plurality of linked financial institution accounts based on the account management rule that is operable to ensure adequate fund availability, wherein managing includes, (1) determining that a payment account included in the linked financial institution accounts is unable to fund an expenditure, (2) determining an account transfer priority for transferring to the payment account from one or more transferor accounts included in the linked financial institution accounts, (3) dynamically determining a hold time period associated with transferring to the payment account, wherein determining the hold time is based on (i) type of transferor account, (ii) amount of transfer and (iii) physical location of transferor account, (4) transferring funds to the payment account from one or more transferor accounts based on the transfer priority, and (5) providing payment for the expenditure from the payment account after conclusion of the hold time period. - View Dependent Claims (18, 19, 20, 21, 22, 23)
-
Specification