Financial account management

• US 8,121,943 B2
• Filed: 10/20/2008
• Issued: 02/21/2012
• Est. Priority Date: 12/17/2003
• Status: Expired due to Term

• Current Assignee: FMR LLC
• Original Assignee: FMR LLC
• Inventors: Elterich, Steve
• Primary Examiner(s): Kramer, James
• Assistant Examiner(s): See, Carol
• Application Number:
  US12/254,475
• Publication Number:
  US 20090043701A1
• Time in Patent Office: 1,219 Days
• Field of Search: None
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

An automated account management system provides a user with the ability to establish rules that dictate how the account management system is to manage the user'"'"'s accounts. Once the user specifies a set of rules, the system automatically manages multiple accounts across multiple financial institutions in accordance with the user-defined rules. Other features, such as an on-line bill payment system, a money transfer system, and a retirement planning system, may be integrated within the automated account management system to provide the user with even greater control over his or her financial assets.

Claims

1. A computer-implemented method for managing a plurality of personal financial accounts of a user maintained at two or more financial institutions, the method comprising:

retrieving by one or more computers a first rule for a minimum, aggregate balance of the plurality of personal financial accounts maintained at the two or more financial institutions;

retrieving by one or more computers a second rule for a target, aggregate balance of the plurality of personal financial accounts maintained at the two or more financial institutions, with a value of the target, aggregate balance being less than a value of the minimum, aggregate balance included in the first rule;

identifying by one or more computers a conflict between the first rule and the second rule, with the conflict corresponding to when execution of the first rule by the one or more computers will cause a violation of the second rule by the one or more computers;

receiving from the user instructions to resolve the conflict by selecting the first rule;

receiving financial account balance data including a value of a current aggregate balance of the plurality of personal financial accounts;

detecting by one or more computers that the current aggregate balance of the plurality of personal financial accounts is below the minimum, aggregate balance;

determining by one or more computers an amount of funds to be transferred into one or more of the personal financial accounts in the plurality of personal financial accounts from one or more different personal financial accounts; and

causing by one or more computers a transfer of funds into one or more of the personal financial accounts in the plurality of personal financial accounts.

2. The method of claim 1, further comprising:

determining by one or more computers that the current aggregate balance of the plurality of personal financial accounts is below the minimum, aggregate account balance established for the first rule; and

generating a first graphical user interface that when rendered on a display device, displays a prompt window prompting the user for information that indicates one or more source accounts from which the user desires the transfer of funds.

3. The method of claim 2, further comprising:

generating a second graphical user interface that when rendered on a display device, displays a prompt window prompting the user for information that indicates an amount of funds to be transferred from the one or more source accounts.

4. The method of claim 1, further comprising:

transmitting a notification message to the user, the notification message indicating a transfer of funds into one or more of the personal financial accounts in the plurality of personal financial accounts.

5. The method of claim 1, further comprising:

prior to causing by one or more computers a transfer of funds into one or more accounts in the plurality of personal financial accounts, transmitting a message to the user that seeks user approval for the transfer of funds.

6. The method of claim 1 further comprising:

downloading account data for the user'"'"'s plurality of personal financial accounts;

storing the downloaded account data in one or more data repositories; and

updating data associated with the user'"'"'s plurality of personal financial accounts with the downloaded account data.

7. The method of claim 6 further comprising:

transmitting a message to one or more computers, the message indicating that the account data for the user'"'"'s plurality of personal financial accounts has been updated.

8. The method of claim 7 further comprising:

determining by one or more computers one or more rules associated with the user for execution.

9. The method of claim 1 further comprising:

generating by one or more computers a message, the message including data indicating that funds were transferred into the plurality of personal financial accounts; and

transmitting the message to the user.

10. The method of claim 1 further comprising:

scanning by one or more computers a set of rules to find one or more time and date based rules to execute on a particular day;

extracting by one or more computers the one or more time and date based rules; and

adding by one or more computers the extracted one or more time and date based rules to a list of rules for execution on the particular day.

11. A computer-implemented method for managing a plurality of personal financial accounts of a user maintained at two or more financial institutions, the method comprising:

retrieving by one or more computers a first rule for a maximum, aggregate balance of the plurality of personal financial accounts maintained at the two or more financial institutions;

retrieving by one or more computers a second rule for a target, aggregate balance of the plurality of personal financial accounts, with a value of the target, aggregate balance being greater than a value of the maximum, aggregate balance;

identifying by one or more computers a conflict between the first rule and the second rule, with the conflict corresponding to when execution of the first rule by the one or more computers will cause a violation of the second rule by the one or more computers;

receiving from the user instructions to resolve the conflict by selecting the first rule;

receiving financial account balance data including a value of a current aggregate balance of the plurality of personal financial accounts;

detecting by one or more computers that the current aggregate balance of the plurality of personal financial accounts is above the maximum, aggregate balance;

determining by one or more computers an amount of funds to be transferred out of the one or more of the personal financial accounts in the plurality of personal financial accounts and into one or more different personal financial accounts; and

causing by one or more computers a transfer of funds out of one or more of the personal financial accounts in the plurality of personal financial accounts.

12. The method of claim 11, further comprising:

determining by one or more computers that the current aggregate balance of the plurality of personal financial accounts is above the maximum, aggregate account balance established for the first rule; and

generating a first graphical user interface that when rendered on a display device, displays a prompt window prompting the user for information that indicates one or more source accounts from which the user desires the transfer of funds.

13. The method of claim 12, further comprising:

generating a second graphical user interface that when rendered on a display device, displays a prompt window prompting the user for information that indicates an amount of funds to be transferred into the one or more source accounts.

14. The method of claim 11, further comprising:

transmitting a notification message to the user, the notification message indicating a transfer of funds out of one or more of the personal financial accounts in the plurality of personal financial accounts.

15. The method of claim 11, further comprising:

prior to causing by one or more computers a transfer of funds out of one or more accounts in the plurality of personal financial accounts, transmitting a message to the user that seeks user approval for the transfer of funds.

16. The method of claim 11 further comprising:

downloading account data for the user'"'"'s plurality of personal financial accounts;

storing the downloaded account data in one or more data repositories; and

updating data associated with the user'"'"'s plurality of personal financial accounts with the downloaded account data.

17. The method of claim 16 further comprising:

transmitting a message to one or more computers, the message indicating that the account data for the user'"'"'s plurality of personal financial accounts has been updated.

18. The method of claim 17 further comprising:

determining by one or more computers one or more rules associated with the user for execution.

19. The method of claim 11 further comprising:

generating by one or more computers a message, the message including data indicating that funds were transferred out of the plurality of personal financial accounts; and

transmitting the message to the user.

20. The method of claim 11 further comprising:

scanning by one or more computers a set of rules to find one or more time and date based rules to execute on a particular day;

extracting by one or more computers the one or more time and date based rules; and

adding by one or more computers the extracted one or more time and date based rules to a list of rules for execution on the particular day.