Systems, methods and program products for deposit and withdrawal processing
DCFirst Claim
1. A method, comprising:
- (a) maintaining or having maintained or accessing, by one or more computers, an electronic database, on one or more computer readable media, comprising;
(i) aggregated deposit account information for one or more of government backed-insured and interest-bearing aggregated deposit accounts, held in one or more depository institutions, comprising at least a first depository institution, each of the one or more aggregated deposit accounts holding funds of more than one client;
(ii) client account information for a plurality of client accounts for a plurality of clients whose funds had been accepted for deposit in the names of the respective clients at the first depository institution;
(b) obtaining, by the one or more computers, a plurality of net credit/debit amounts during a month period, with each respective net credit/debit amount comprising a sum of credits to and/or debits with respect to multiple of the client accounts for a respective sub-period of the month;
(c) allocating, by the one or more computers, fund amounts to the depository institutions to be held in the aggregated deposit accounts therein based at least in part on the credit/debit amounts and one or more rules;
(d) generating data, by the one or more computers, for depositing/transferring funds to or withdrawing/transferring funds from at least one of the one or more aggregated deposit accounts multiple times in a month period, based at least in part on one or more of the net credit/debit the fund amounts allocated to the depository institutions for one or more sub-periods of time, the data generating step comprising generating data for instructions for making a withdrawal/transfer from funds held at one of the one or more depository institutions more than six (6) times during the month period, comprising presenting instructions to the respective one depository institution using one or more of the methods;
in person, or by mail, or by messenger, or by telephone and distributed by mail, or by automated teller machine, or a combination thereof for substantially all of the withdrawals/transfers except for a set of at least one but not more than six withdrawals within a last six business days of the month period, and presenting instructions to the respective one depository institution using a method that counts against a 6 withdrawal limit for this set of the withdrawals during the last six business days of the month period; and
(e) updating or having updated, by the one or more computers, the electronic database to reflect changes in client funds held in the one or more aggregated deposit accounts.
1 Assignment
Litigations
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Accused Products
Abstract
A method, system and program product, the method comprising: obtaining a plurality of net credit/debit amounts during a month period; generating data for depositing/transferring funds to or withdrawing/transferring funds from at least one of one or more aggregated deposit accounts multiple times in a month period, the data generating step comprising generating data for instructions for making a withdrawal/transfer from funds held at one of the one or more depository institutions more than six (6) times during the month period, comprising presenting instructions to the respective one depository institution using one or more of the methods: in person, or by mail, or, by messenger, or by telephone and distributed by mail, or by automated teller machine, or a combination thereof for substantially all of the withdrawals/transfers except for a set of at least one but not more than six withdrawals within the month period.
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Citations
29 Claims
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1. A method, comprising:
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(a) maintaining or having maintained or accessing, by one or more computers, an electronic database, on one or more computer readable media, comprising; (i) aggregated deposit account information for one or more of government backed-insured and interest-bearing aggregated deposit accounts, held in one or more depository institutions, comprising at least a first depository institution, each of the one or more aggregated deposit accounts holding funds of more than one client; (ii) client account information for a plurality of client accounts for a plurality of clients whose funds had been accepted for deposit in the names of the respective clients at the first depository institution; (b) obtaining, by the one or more computers, a plurality of net credit/debit amounts during a month period, with each respective net credit/debit amount comprising a sum of credits to and/or debits with respect to multiple of the client accounts for a respective sub-period of the month; (c) allocating, by the one or more computers, fund amounts to the depository institutions to be held in the aggregated deposit accounts therein based at least in part on the credit/debit amounts and one or more rules; (d) generating data, by the one or more computers, for depositing/transferring funds to or withdrawing/transferring funds from at least one of the one or more aggregated deposit accounts multiple times in a month period, based at least in part on one or more of the net credit/debit the fund amounts allocated to the depository institutions for one or more sub-periods of time, the data generating step comprising generating data for instructions for making a withdrawal/transfer from funds held at one of the one or more depository institutions more than six (6) times during the month period, comprising presenting instructions to the respective one depository institution using one or more of the methods;
in person, or by mail, or by messenger, or by telephone and distributed by mail, or by automated teller machine, or a combination thereof for substantially all of the withdrawals/transfers except for a set of at least one but not more than six withdrawals within a last six business days of the month period, and presenting instructions to the respective one depository institution using a method that counts against a 6 withdrawal limit for this set of the withdrawals during the last six business days of the month period; and(e) updating or having updated, by the one or more computers, the electronic database to reflect changes in client funds held in the one or more aggregated deposit accounts. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method, comprising:
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maintaining or having maintained or accessing, by one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising; (i) aggregated deposit account information for a plurality of respective government-backed insured and interest-bearing aggregated deposit accounts held in a plurality of depository institutions participating in a program, with the aggregated deposit accounts providing non-penalized liquidity for the funds held therein, each of the one or more aggregated deposit accounts holding funds of more than one client; and (ii) client account information for a plurality of client accounts, the client account information for a respective one of the client accounts comprising a balance of client account funds held in each of one or more of the aggregated deposit accounts holding funds of the respective client account; and accessing, by the one or more computers, client account data comprising changes to client account funds sourced to the program from one or more source financial entities and held or to be held in the depository institutions in aggregated accounts held therein; allocating, by the one or more computers, fund amounts to the depository institutions to be held in the aggregated deposit accounts therein based at least in part on the client account data for the client account funds and one or more rules; generating data, by the one or more computers, for depositing/transferring funds to or withdrawing/transferring funds from at least one of the aggregated deposit accounts multiple times in a month period, based at least in part on the accessed client account data, the data generating step comprising generating data for instructions for making a withdrawal/transfer from funds held at one of the depository institutions more than six (6) times during the month period, comprising presenting instructions to the respective one depository institution using one or more of the methods;
in person, or by mail, or by messenger, or by telephone and distributed by mail, or by automated teller machine, or a combination thereof for substantially all of the withdrawals/transfers except for a set of at least one but not more than six withdrawals within a last six business days of the month period, and presenting instructions to the respective one depository institution using a method that counts against a 6 withdrawal limit for this set of the withdrawals during the last six business days of the month period; andupdating or having updated, by the one or more computers, the one or more electronic databases to reflect changes in client account funds held in the aggregated deposit accounts. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A method, comprising:
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maintaining or having maintained or accessing, by one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising; (i) aggregated deposit account information for a plurality of respective government-backed insured and interest-bearing aggregated deposit accounts held in a plurality of depository institutions participating in a program, with the aggregated deposit accounts providing non-penalized liquidity for the funds held therein, each of the one or more aggregated deposit accounts holding funds of more than one client; and (ii) client account information for a plurality of client accounts, the client account information for a respective one of the client accounts comprising a balance of client account funds held in each of one or more of the aggregated deposit accounts holding funds of the respective client account; and accessing, by the one or more computers, client account data comprising changes to client account funds sourced to the program from one or more source financial entities and held or to be held in the depository institutions in aggregated accounts held therein; allocating, by the one or more computers, fund amounts to the depository institutions to be held in the aggregated deposit accounts therein based at least in part on the client account data for the client account funds and one or more rules; generating, by the one or more computers, data for depositing/transferring funds to or withdrawing/transferring funds from at least one of the aggregated deposit accounts multiple times in a month period, based at least in part on the accessed client account data, the data generating step comprising generating data for instructions for making a withdrawal/transfer from funds held at one of the depository institutions more than six (6) times during the month period, comprising presenting instructions to the respective one depository institution using one or more of the methods;
in person, or by mail, or by messenger, or by telephone and distributed by mail, or by automated teller machine, or a combination thereof for substantially all of the withdrawals/transfers except for a set of at least one but not more than six withdrawals within the month period, and presenting instructions to the respective one depository institution using a method that counts against a 6 withdrawal limit for this set of the withdrawals during the month period; andupdating or having updated, by the one or more computers, the one or more electronic databases to reflect changes in client account funds held in the aggregated deposit accounts.
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28. The method as defined in 7, wherein the changes to client account funds are sourced from a plurality source financial entities.
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29. The method as defined in 27, wherein the changes to client account funds are sourced from a plurality source financial entities.
Specification