Third party credit card

• US 6,044,360 A
• Filed: 06/16/1997
• Issued: 03/28/2000
• Est. Priority Date: 04/16/1996
• Status: Expired due to Term

• Current Assignee: Restricted Spending Solutions LLC (Acacia Research Corporation)
• Original Assignee: Michael J. Picciallo
• Inventors: Picciallo, Michael J.
• Primary Examiner(s): Pitts, Harold I.
• Application Number:
  US08/876,929
• Time in Patent Office: 1,016 Days
• Field of Search: 235/380, 235/487, 705/21
• US Class Current: 705/21
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/355 Personalisation of cards for use
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A system for allocating funds in pre-established customer accounts including:

a controller processor programmed: (a) to process data, (b) to create for each customer a customer account file, and (c) to transfer funds from customer account files to transferees selected by said customers, in response to command instructions;

an input device for supplying command instructions to said controller processor; and

a data storage device associated with said controller processor in which file records of said customer account files created by said controller processor are stored, including information on the amounts of funds deposited for said customers;

wherein said controller processor is programmed (a) to process and store information in said storage device for each customer account, in response to command instruction from find depositors, limiting the amount of funds that may be spent on particular classes of goods and services; and (b) to process fund transfer command instructions issued by said customers by determining whether the requested finds exceed the limit set for said goods or services to be purchased.

A computer-based method for allocating funds in this manner is also disclosed.

Claims

1. A system for allocating funds in pre-established customer accounts comprising:

a controller processor programmed;

(a) to process data, (b) to create for each customer a customer account file, and (c) to transfer funds from customer account files to transferees selected by said customers, in response to command instructions;

an input device for supplying command instructions to said controller processor; and

a data storage device associated with said controller processor in which file records of said customer account files created by said controller processor are stored, including information on the amounts of finds deposited for said customers;

wherein said controller processor is programmed (a) to establish automatic periodic fund transfers of depositor funds to said account for use by said customer;

(b) to process and store information in said storage device for each customer account, in response to command instruction from fund depositors, limiting the amount of funds that may be spent on particular classes of goods and services; and

(c) to process fund transfer command instructions issued by said customers by determining whether the requested funds exceed the limit set for said goods or services to be purchased.

2. The system of claim 1, wherein said controller processor is programmed to complete said transfer when the requested funds do not exceed said limit.

3. The system of claim 1, wherein said controller processor is programmed to discontinue said transfer when the requested funds exceed said limit.

4. The system of claim 1, further comprising an output device, wherein said controller processor is programmed to store in the storage device information on each selected fund transferee and corresponding transfer amounts and to supply to said fund depositor through said output device said stored information on fund transferees and transfer amounts.

5. The system of claim 1, wherein said customer account file is a bank or credit account established in advance in the name of said customer by said fund depositor.

6. The system of claim 1, wherein said fund transferees include said customer.

7. The system of claim 1, wherein said goods or services comprise books, computer software food, lodging or entertainment.

8. A computer-based method for allocating funds in preestablished accounts for use by customers, comprising:

creating for each customer a customer account file containing a record of funds deposited for said customer;

automatically transferring periodically to said account file depositor funds for use by said customer;

limiting the amount of funds in said customer account file that may be spent on particular classes of goods and services in response to command instructions from the fund depositor; and

verifying each transfer from said customer account file requested by said customer to determine whether the requested funds exceed the limit set for the goods or services to be purchased.

9. The method of claim 8, wherein said method further comprises the step of completing said transfer when sufficient finds have been allocated.

10. The method of claim 8, wherein said method further comprises the step of discontinuing said transfer when insufficient funds have been allocated.

11. The method of claim 9, further comprising the step of storing information on fund transferees and corresponding payment amounts.

12. The method of claim 11, further comprising the step of supplying to said fund depositor said information on fund transferees and corresponding payment amounts.

13. The method of claim 12, wherein said supplying step is performed periodically.

14. The method of claim 13, wherein said step is performed weekly or monthly.

15. The method of claim 9, wherein said funds are deposited periodically.

16. The method of claim 15, wherein said funds are deposited weekly or monthly.

17. The method of claim 9, wherein said customer account file is a bank or credit account established in advance in the name of said customer by said fund depositor.

18. The method of claim 9, wherein said fund transferees include said customer.

19. The method of claim 9, wherein said goods or services comprise books, computer software, food, lodging or entertainment.

20. A system for allocating funds in pre-established customer accounts comprising:

a controller processor programmed;

(a) to process data, (b) to create for each customer a customer account file, and (c) to transfer funds from customer account files to transferees selected by said customers, in response to command instructions;

an input device for supplying command instructions to said controller processor; and

a data storage device associated with said controller processor in which file records of said customer account files created by said controller processor are stored, including information on the amounts of funds deposited for said customers;

wherein said controller processor is programmed (a) to process and store information in said storage device for each customer account, in response to command instruction from fund depositors, setting periodic transaction limits for particular classes of goods and services; and

(b) to process fund transfer command instructions issued by said customers by determining whether the requested funds exceed the transaction limit set for said goods or services to be purchased.

21. The system of claim 20, wherein said controller processor is programmed to complete said transfer when the requested funds do not exceed said limit.

22. The system of claim 20, wherein said controller processor is programmed to discontinue said transfer when the requested funds exceed said limit.

23. The system of claim 20, further comprising an output device, wherein said controller processor is programmed to store in the storage device information on each selected fund transferee and corresponding transfer amounts and to supply to said fund depositor through said output device said stored information on fund transferees and transfer amounts.

24. The system of claim 20, wherein said customer account file is a bank or credit account established in advance in the name of said customer by said fund depositor.

25. The system of claim 20, wherein said fund transferees include said customer.

26. The system of claim 20, wherein said goods or services comprise books, computer software, food, lodging or entertainment.

27. A computer-based method for allocating funds in preestablished accounts for use by customers, comprising:

creating for each customer a customer account file containing a record of funds deposited for said customer;

setting periodic transaction limits on the amount of funds in said customer account file that may be spent on particular classes of goods and services in response to command instructions from the fund depositor; and

verifying each transfer from said customer account file requested by said customer to determine whether the requested funds exceed the transaction limit set for the goods or services to be purchased.

28. The method of claim 27, wherein said method further comprises the step of completing said transfer when sufficient funds have been allocated.

29. The method of claim 27, wherein said method further comprises the step of discontinuing said transfer when insufficient funds have been allocated.

30. The method of claim 29, further comprising the step of storing information on fund transferees and corresponding payment amounts.

31. The method of claim 30, further comprising the step of supplying to said fund depositor said information on fund transferees and corresponding payment amounts.

32. The method of claim 31, wherein said supplying step is performed periodically.

33. The method of claim 32, wherein said step is performed weekly or monthly.

34. The method of claim 28, wherein said funds are deposited periodically.

35. The method of claim 34, wherein said funds are deposited weekly or monthly.

36. The method of claim 28, wherein said customer account file is a bank or credit account established in advance in the name of said customer by said fund depositor.

37. The method of claim 28, wherein said find transferees include said customer.

38. The method of claim 28, wherein said goods or services comprise books, computer software, food, lodging or entertainment.