Reward Program for Financial Accounts
First Claim
1. A computer-assisted method comprising:
- generating, by a processor, an account statement from a financial institution for a financial account for a customer by accessing at least one memory device storing account information;
determining, by the processor, whether the customer qualifies for a fixed reward during a calendar interval based on at least one account criterion spanning a predetermined number of consecutive account cycles by accessing the at least one memory device for customer; and
when the customer qualifies based on the determining, the processor directing a first fixed cash amount to a designated destination as indicated in account information stored in the at least one memory device.
2 Assignments
0 Petitions
Accused Products
Abstract
A computer system enables a financial institution to award a fixed reward that may include one or more fixed components based on at least one payment criterion when a customer remits a payment in a timely basis. The payment criteria, for example, may include paying a minimum amount for each consecutive billing period in a timely manner over a predetermined calendar interval. When the customer is awarded the fixed reward, the reward may be directed to an account that is designated by the customer. The fixed reward may also include a basic fixed amount for satisfying the at least one payment criterion a well as an additional fixed amount if the customer has a specified relationship (such as a checking and/or a savings account) with the financial institution.
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Citations
28 Claims
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1. A computer-assisted method comprising:
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generating, by a processor, an account statement from a financial institution for a financial account for a customer by accessing at least one memory device storing account information; determining, by the processor, whether the customer qualifies for a fixed reward during a calendar interval based on at least one account criterion spanning a predetermined number of consecutive account cycles by accessing the at least one memory device for customer; and when the customer qualifies based on the determining, the processor directing a first fixed cash amount to a designated destination as indicated in account information stored in the at least one memory device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. An apparatus comprising:
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at least one memory device; and at least one processor coupled to the at least one memory and configured to perform, based on instructions stored in the at least one memory; generating a billing statement from a financial institution for a credit card account of a customer by accessing at least one memory device for billing information; determining whether the customer qualifies for a fixed reward during a calendar interval based on at least one payment criterion by accessing the at least one memory device for customer, wherein the fixed reward comprises a first fixed amount is adjustable based on a predetermined economic characteristic and wherein the determining is independent of a total purchase amount against the credit card account; when the customer qualifies based on the determining, directing a first fixed cash amount to a designated destination as indicated in account information stored in the at least one memory device; and subsequently adjusting the first fixed amount to a different amount based on a predetermined economic characteristic. - View Dependent Claims (21, 22, 23, 24, 25)
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26. A non-transitory computer-readable storage medium storing computer-executable instructions that, when executed, cause a processor to perform:
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generating a billing statement from a financial institution for a credit card account for a customer by accessing at least one memory device for billing information; determining whether the customer qualifies for a fixed reward during a calendar interval based on at least one payment criterion, wherein the at least one payment criterion comprises making a minimum payment by a predetermined date over a predetermined number of billing cycles over the calendar interval; and when the customer qualifies based on the determining, directing a first fixed cash amount to a designated destination. - View Dependent Claims (27, 28)
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Specification