Financial cards and methods for per-transaction personal financial management

• US 8,290,868 B2
• Filed: 07/07/2009
• Issued: 10/16/2012
• Est. Priority Date: 07/07/2009
• Status: Active Grant

• Current Assignee: Richard H. Chenot
• Original Assignee: Richard H. Chenot
• Inventors: Chenot, Richard H.
• Primary Examiner(s): Kazimi, Hani M
• Assistant Examiner(s): LOFTUS, ANN E
• Application Number:
  US12/498,953
• Publication Number:
  US 20110010294A1
• Time in Patent Office: 1,197 Days
• Field of Search: 705/40
• US Class Current: 705/41
• CPC Class Codes: G06K 19/041 Constructional details G06K19/06 takes precedence
• CPC Class Codes: G06K 19/06196 Constructional details
• 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 20/347 Passive cards
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/0806 Details of the card record carriers per se G06K

Abstract

Systems and methods for personal financial management using a financial card having a body with a front side and a back side, and a primary account number user associated with a primary account of a user of the financial card. A user interface is configured for receiving input from the user at a time of use of the financial card for selecting a subaccount indicator from among a plurality of subaccount indicators each of which is associated with a subaccount within the primary account. A magnetic strip is positioned on the back side and includes a user definable portion configurable by the user at a time of use of the financial card for a transaction. The user interface is adapted to configure the user definable portion to include the user selected subaccount indicator.

Claims

1. A financial card for personal financial management related to payment of a transaction amount, the card having a body with a front side and a back side and a single primary account number associated with a primary account of a user of the financial card, the card comprising:

a user interface configured for receiving input from the user at a time of use of the financial card for selecting a subaccount indicator from among a plurality of subaccount indicators each of which is associated with a subaccount within the single primary account number of the financial card; and

a magnetic strip accessible on the back side of the card body and magnetically readable for the payment of a transaction amount, the magnetic strip including a predefined portion having a magnetic encoding of the primary account number associated with the primary account of the financial card and a separate user definable portion operatively coupled to the user interface and being configurable by the user interface at a time of use of the financial card for a transaction, the user interface coupled to the user definable portion, and not to the predefined portion, magnetically encoding the user definable portion to include the user selected subaccount indicator

wherein the user interface includes one or more rotatable wheels controlling a plurality of different magnetically encoded sections selectively positionable as the user definable portion of the magnetic strip and in selective alignment with the magnetic encoding of the predefined portion having the magnetically encoded primary account number, each different magnetically encoded section being encoded with a different one of the subaccount indicators, the one or more wheels being embedded within the body of the financial card and wherein the user defined portion and not the predefined portion of the magnetic strip includes at least one of the different magnetically encoded sections of at least one of the wheels for magnetically encoding the subaccount indicator of the user definable portion when positioned by the user interface as the user definable portion for a particular transaction and wherein each magnetically encoded section is a radially extending paddle of at least one wheel having the magnetically encoded section positioned on a free end thereof, and where each magnetically encoded section includes a different selectively positionable user definable portion having the selected subaccount indicator.

2. The financial card of claim 1 wherein the magnetic strip includes at least track 1 and track 2 of encoded data consistent with ISO standards and wherein the user definable portion of the magnetic strip is configurable by the user interface and the magnetically encoded sections of each paddle of the at least one wheel includes the subaccount indicator in an additional data field of at least one of track 1 and track 2.

3. The financial card of claim 1, further comprising a display window positioned proximate to one of the mechanical wheels having indicia for each of the subaccount indicators, wherein the indicia associated with the user selected subaccount indicator is positioned at the display window upon selection by the user for visually viewing thereof.

4. The financial card of claim 1 wherein each magnetically encoded section includes the different selectively positionable user definable portion having an associated end sentinel character and an associated longitude redundancy check (LRC) character in addition to the selected subaccount indicator.

5. The financial card of claim 1 wherein one of the one or more rotatable wheels and the body of the card proximate to the one wheel are each configured with an aperture dimensioned for receiving a key and wherein the one wheel is configured to rotate responsive to a rotation of the received key.

6. The financial card of claim 1 wherein at least one of the one or more wheels is configured to selectively lock into a position.

7. The financial card of claim 1 wherein the user interface is configured to further magnetically encode the user definable portion of the magnetic strip to also include an end sentinel character and a longitudinal redundancy check character as a function of the magnetically encoded selected subaccount indicator as magnetically encoded on a paddle associated with the user selected subaccount indicator and the magnetically encoding of the predefined portion of the magnetic strip.

8. The system of claim 1 wherein the user definable portion includes a single digit indicative of the sub account identifier.

11. The financial card of claim 1 wherein the user definable portion includes a magnetic encoding of each of the subaccount indicators and an end sentinel character and an longitude redundancy check (LRC) characters, each radially extending paddle being associated with a different subaccount indicator, each end sentinel character and longitude redundancy check (LRC) character associated with each subaccount indicator being defined by the combination of the subaccount account indicator with the primary account number.

12. The financial card of claim 1 wherein the predefined portion of the magnetic card further includes a magnetic encoding of the financial card issuer identification number, a country code, and a financial card expiration date, and wherein the magnetically encoded primary account number includes a check digit, wherein the predefined portion is not coupled to the user interface and the magnetic encoding of the predefined portion is non-selectable and non-changeable by the user interface.

9. A financial card for personal financial management comprising:

rotating means for selecting a subaccount indicator associated with one of a plurality of subaccounts each of the subaccounts being a subset within a primary account associated with the financial card for use of payment of a transaction amount;

means for providing a single primary account number of the primary account associated with the financial card to a transaction device for payment of a transaction amount; and

means for providing the selected subaccount indicator as determined by the rotating means for selecting to the transaction device for payment of the transaction amount from the selected associated subaccount within the primary account, the means for providing the selected subaccount indicator including a plurality of radially extending paddles each of which has a magnetically encoded section positioned on a free end thereof, the means for providing the selected subaccount indicator being separate from the means for providing the single primary account number.

10. The financial card of claim 9 wherein the means for providing the selected subaccount indicator includes on each paddle a magnetically encoding of an associated end sentinel character and an associated longitude redundancy check (LRC) character.

13. A financial transaction card for personal financial management comprising:

a body having a front side and a back side;

a single primary account number associated with a primary account of a user of the financial card, the primary account number being embossed on the front side of the card;

a user interface configured for receiving input from a user at a time of use of the financial card for selecting a subaccount indicator from among a plurality of subaccount indicators each of which is in addition to the single primary account number of the financial card; and

a magnetic strip accessible on the back side of the card body and magnetically readable for the payment of a transaction amount, the magnetic strip including a predefined portion having a magnetic encoding of the primary account number and a separate user definable portion operatively coupled to the user interface and being configurable by the user interface at a time of use of the financial card for a transaction, the user interface coupled to the user definable portion, and not to the predefined portion, magnetically encoding the user definable portion to include the user selected subaccount indicator

wherein the user interface includes one or more rotatable wheels controlling a plurality of different magnetically encoded sections selectively positionable as the user definable portion of the magnetic strip and in selective alignment with the magnetic encoding of the predefined portion having the magnetically encoded primary account number, each different magnetically encoded section being encoded with a different one of the subaccount indicators, the one or more wheels being embedded within the body of the financial card and wherein the user defined portion and not the predefined portion of the magnetic strip includes at least one of the different magnetically encoded sections of at least one of the wheels for magnetically encoding the subaccount indicator of the user definable portion when positioned by the user interface as the user definable portion for a particular transaction and wherein each magnetically encoded section is a radially extending paddle of at least one wheel having the magnetically encoded section positioned on a free end thereof, and where each magnetically encoded section includes a different selectively positionable user definable portion having the selected subaccount indicator.

14. The financial card of claim 13, wherein the user definable portion of the magnetic strip is selectively movable in relation to the predefined portion by the user interface and includes a plurality of separately magnetic encoded sections each of which is magnetically encoded with a different subaccount identifier, the user interface being configured for selectively aligning the magnetic encoding of the selected sub account indicator in alignment with the magnetically encoded primary account number at the time of use of the financial card for the transaction.

15. The financial card of claim 13 wherein the user definable portion includes a magnetic encoding of each of the subaccount indicators and an end sentinel character and an longitude redundancy check (LRC) character, each end sentinel character and longitude redundancy check (LRC) character associated with each subaccount indicator being defined by the combination of the selected subaccount account indicator with the primary account number.

16. The financial card of claim 13 wherein the predefined portion of the magnetic card further includes a magnetic encoding of the financial card issuer identification number, a country code, and a financial card expiration date, and wherein the magnetically encoded primary account number includes a check digit, wherein the predefined portion is not coupled to the user interface and the magnetic encoding of the predefined portion is non-selectable and non-changeable by the user interface.

17. The financial card of claim 13, further comprising a display window positioned proximate to one of the mechanical wheels having indicia for each of the subaccount indicators, wherein the indicia associated with the user selected subaccount indicator is positioned at the display window upon selection by the user for visually viewing thereof.

18. The financial card of claim 13 wherein at least one of the one or more wheels is configured to selectively lock into a position.