System, method, and computer program product for saving and investing through use of transaction cards
DCFirst Claim
Patent Images
1. A method comprising:
- associating, by an account issuing system for depositing funds into a deposit account through use of a transaction account, the transaction account with the deposit account, wherein the account issuing system includes a processor and non-transitory memory;
storing, by the account issuing system, an amount of funds to be deposited from the transaction account into the deposit account based on a cash back amount established for the transaction account;
verifying, by the account issuing system, that criteria for receiving cash back from the transaction account issuer is met;
verifying, by the account issuing system, the transaction account has a predetermined bill payment status; and
automatically depositing, by the account issuing system, the cash back amount of funds from the transaction account into the deposit account, in response to both (1) the verifying the criteria is met and (2) the verifying the predetermined bill payment status is met.
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Abstract
A system, method, and computer program product are used for saving through use of transaction cards. This is done through associating a transaction account of the transaction card with one or more deposit accounts. An amount of funds to be deposited from the transaction account into the deposit account is established. A number of times a deposit will be made is established. A time duration between the deposits when more than one deposit will be made is established. An event that initiates at least a first one of the deposits is established. The amount of funds from the transaction card account is deposited into the deposit account based on the above criteria.
144 Citations
15 Claims
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1. A method comprising:
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associating, by an account issuing system for depositing funds into a deposit account through use of a transaction account, the transaction account with the deposit account, wherein the account issuing system includes a processor and non-transitory memory; storing, by the account issuing system, an amount of funds to be deposited from the transaction account into the deposit account based on a cash back amount established for the transaction account; verifying, by the account issuing system, that criteria for receiving cash back from the transaction account issuer is met; verifying, by the account issuing system, the transaction account has a predetermined bill payment status; and automatically depositing, by the account issuing system, the cash back amount of funds from the transaction account into the deposit account, in response to both (1) the verifying the criteria is met and (2) the verifying the predetermined bill payment status is met. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A non-transitory, tangible computer-readable medium having stored thereon, computer-executable instructions that, if executed by a computing device for depositing funds into a deposit account through use of a transaction account, cause the computing device to perform a method, comprising:
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associating, by the computing device, the transaction account with the deposit account; storing, by the computing device, an amount of funds to be deposited from the transaction account into the deposit account based on a cash back amount established for the transaction account; verifying, by the computing device, criteria for receiving cash back from the transaction account issuer is met; verifying, by the computing device, the transaction account has a predetermined bill payment status; and automatically depositing, by the computing device, the cash back amount of funds from the transaction account, in response to both (1) the verifying the criteria for receiving cash back is met and (2) the verifying the transaction account has a predetermined bill payment status.
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14. A system for depositing funds into a deposit account through use of a transaction account, comprising:
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a deposit system including the deposit account; and a computer based billing system, comprising; a non-transitory memory, a processor and a database; the database configured to store an amount of funds to be deposited from a transaction account into the deposit account based on a cash back amount established for the transaction account, wherein the computer based billing system is configured to; associate the transaction account with the deposit account, verify criteria for receiving cash back from the transaction account issuer is met; verify the transaction account has a predetermined bill payment status; and automatically initiate a deposit of the cash back amount of funds from the transaction account into the deposit account in response to both (1) the verifying the criteria is met and (2) the verifying the predetermined bill payment status is met.
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15. A system comprising:
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a tangible, non-transitory memory communicating with a processor for depositing funds, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; associating, by the processor, a transaction account with a deposit account; storing, by the processor, an amount of funds to be deposited from the transaction account into the deposit account based on a cash back amount established for the transaction account; verifying, by the processor, criteria for receiving cash back from the transaction account issuer is met; verifying, by the processor, the transaction account has a predetermined bill payment status; and automatically initiating, by the processor, a deposit of the cash back amount of funds from the transaction account into the deposit account in response to both (1) the verifying the criteria is met and (2) the verifying the predetermined bill payment status is met.
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Specification