Point of sale automatic savings program contribution system
DC CAFCFirst Claim
1. An article of manufacture:
- a computer usable code having a computer readable program code means embodied therein for automatically contributing funds from a deposit account of an individual to a savings program account of the individual based upon debit transactions made by the individual, the computer readable program code medium in said article of manufacture comprising;
computer-readable program code for causing a computer to receive a signal representative of a payment amount from a third party, the payment amount corresponding to a debit transaction made by the individual from the third party,computer-readable program code for causing a computer to calculate a contribution amount to the savings program account from the deposit account, the contribution amount including a difference amount between the payment amount and a next higher whole dollar amount above the payment amount, andcomputer-readable program code for causing a computer to send a signal representative of the contribution amount to a saving program provider for initiating a transfer of funds from the deposit account to the savings program account equal to the contribution amount.
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Reexamination
Accused Products
Abstract
A system is provided for automatically contributing monies to a savings program upon making a purchase. Included is an input device for generating an identification signal for identifying an account holder and a monetary signal monetary amount. Also provided is a service provider connected to the input device for receiving the identification signal and the monetary signal for calculating signal representative of a savings program contribution based on the monetary amount. A saving program provider is connected to the service provider for receiving the signal representative of the savings program contribution amount and further contribute the savings program contribution to an investment of the holder of the corresponding card.
339 Citations
17 Claims
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1. An article of manufacture:
a computer usable code having a computer readable program code means embodied therein for automatically contributing funds from a deposit account of an individual to a savings program account of the individual based upon debit transactions made by the individual, the computer readable program code medium in said article of manufacture comprising; computer-readable program code for causing a computer to receive a signal representative of a payment amount from a third party, the payment amount corresponding to a debit transaction made by the individual from the third party, computer-readable program code for causing a computer to calculate a contribution amount to the savings program account from the deposit account, the contribution amount including a difference amount between the payment amount and a next higher whole dollar amount above the payment amount, and computer-readable program code for causing a computer to send a signal representative of the contribution amount to a saving program provider for initiating a transfer of funds from the deposit account to the savings program account equal to the contribution amount. - View Dependent Claims (2, 3, 4, 5)
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6. A method of automatically contributing funds of an individual to a saving program of the individual based upon debit transactions made by the individual using a debit device of the individual, the method comprising:
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setting up a system for automatically contributing funds from a deposit account to a savings program account; accepting from a third party an order to withdraw a payment amount from said funds in said deposit account, said payment amount corresponding to a debit transaction made by the individual from said third party using said debit device; and calculating a contribution amount to be transferred from said deposit account to said savings program account, the contribution amount being based upon said payment amount. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A method of automatically contributing funds of an individual to a savings program of the individual based upon debit transactions made by the individual using a debit device of the individual, the method comprising:
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setting up a system for automatically contributing funds from a deposit account to a savings program account, wherein said step of setting up includes; opening said deposit account for holding funds accessible using a debit device; establishing said savings program account for receiving funds, wherein said savings program account comprises a retirement savings account; accepting deposit of funds into said deposit account; issuing a debit device for authorizing withdrawal of said funds from said deposit account; accepting from a third party an order to withdraw a payment amount from said funds in said deposit account, said payment amount corresponding to a debit transaction made by the individual from said third party using said debit device; calculating a contribution amount to said savings program account based upon said payment amount, wherein calculating the contribution amount includes determining a difference amount between said payment amount and a next higher whole dollar amount above said payment amount, and setting said contribution amount equal to said difference amount; withdrawing from said funds in said deposit account a sum amount equal to said payment amount and said contribution amount, said step of withdrawing comprising; transferring said payment amount to said third party for payment of said debit transaction; and transferring said contribution amount to said savings program account.
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Specification