Method and system for determining fees for deposits allocated over a plurality of deposit institutions
DCFirst Claim
1. A computer system, comprising:
- A. one or more electronic databases, stored on one or more computer-readable media, comprising;
(1) aggregated account information for one or more Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in one or more deposit institutions, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the one or more aggregated deposit accounts held in the one or more deposit institutions in the program, where the client account represents funds of the respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the one or more aggregated deposit accounts; and
(2) client account information for each of more than one of the respective client accounts comprising;
(a) a respective fund balance in the respective client account;
(b) a respective amount, Ani, of the fund balance of the respective client account held in each of the one or more of the aggregated deposit accounts holding funds of the client account; and
B. one or more computers comprising memory wherein the memory stores computer-readable instructions that, when executed, cause the one or more computers to perform the following steps for each respective client account, i, of more than one of said client accounts;
(1) determining or having determined or obtaining a fee tier for the client account, i, from among a plurality of fee tiers;
(2) determining or having determined or obtaining, for each of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, a fee amount for funds of the respective client account held in the respective aggregated deposit account based at least in part on the fee tier determined or obtained for the respective client account;
(3) calculating or having calculated a client account interest amount for each aggregated deposit account holding a respective amount, Ani, of the fund balance of the respective client account, wherein the interest amount for the respective aggregated deposit account holding funds of the respective client account is determined based, at least in part, on the amount, Ani, of the fund balance of the respective client account held in the respective aggregated deposit account;
(4) determining a respective total amount of interest for the respective client account, i, comprising at least summing the one or more interest amounts of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, i; and
(5) updating the respective fund balance for the respective client account in the one or more electronic databases with this total amount of interest,wherein at least one of the one or more aggregated accounts holds funds of client accounts in different fee tiers.
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Abstract
A method, system and program product, the method accessing, one or more electronic databases, comprising: aggregated account information for one or more FDIC-insured and interest-bearing aggregated deposit accounts held in one or more deposit institutions, in a program; and client account information; determining or having determined or accessing a fee tier from among a plurality of fee tiers for the respective client account; allocating, funds of the client accounts to one or more of the aggregated deposit accounts based on one or more criteria, wherein some of the client accounts in a plurality of different fee tiers are allocated to the same aggregated deposit account; determining or having determined a total interest amount for the respective client account for a period, based, at least in part, on interest earned by the one or more amounts, Ani, of the respective client account held in each of the one or more aggregated deposit accounts holding funds of the respective client account; calculating or having calculated or obtaining a fee amount for the respective client account, based at least in part, on the fee tier for the respective client account; determining or having determined a client account interest so that the fee amount for the respective client account and the client account interest substantially equal the total interest amount for the respective client account; and updating the one or more databases.
270 Citations
11 Claims
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1. A computer system, comprising:
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A. one or more electronic databases, stored on one or more computer-readable media, comprising; (1) aggregated account information for one or more Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in one or more deposit institutions, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the one or more aggregated deposit accounts held in the one or more deposit institutions in the program, where the client account represents funds of the respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the one or more aggregated deposit accounts; and (2) client account information for each of more than one of the respective client accounts comprising;
(a) a respective fund balance in the respective client account;
(b) a respective amount, Ani, of the fund balance of the respective client account held in each of the one or more of the aggregated deposit accounts holding funds of the client account; andB. one or more computers comprising memory wherein the memory stores computer-readable instructions that, when executed, cause the one or more computers to perform the following steps for each respective client account, i, of more than one of said client accounts; (1) determining or having determined or obtaining a fee tier for the client account, i, from among a plurality of fee tiers; (2) determining or having determined or obtaining, for each of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, a fee amount for funds of the respective client account held in the respective aggregated deposit account based at least in part on the fee tier determined or obtained for the respective client account; (3) calculating or having calculated a client account interest amount for each aggregated deposit account holding a respective amount, Ani, of the fund balance of the respective client account, wherein the interest amount for the respective aggregated deposit account holding funds of the respective client account is determined based, at least in part, on the amount, Ani, of the fund balance of the respective client account held in the respective aggregated deposit account; (4) determining a respective total amount of interest for the respective client account, i, comprising at least summing the one or more interest amounts of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, i; and (5) updating the respective fund balance for the respective client account in the one or more electronic databases with this total amount of interest, wherein at least one of the one or more aggregated accounts holds funds of client accounts in different fee tiers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method, comprising:
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(1) accessing, by one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising; aggregated account information for one or more Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in one or more deposit institutions, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the one or more aggregated deposit accounts held in the one or more deposit institutions in the program, where the client account represents funds of the respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the one or more the aggregated deposit accounts; and client account information for each of more than one of the respective client accounts comprising;
(a) a respective fund balance in the respective client account;
(b) a respective amount, Ani, of the fund balance of the respective client account held in each of the one or more of the aggregated deposit accounts holding funds of the client account;(2) for each respective client account, i, of more than one of said client accounts, determining or having determined or obtaining, by the one or more computers, a fee tier for the client account, i, from among a plurality of fee tiers; (3) determining or having determined or obtaining, by the one or more computers, for each of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, a fee amount for funds of the respective client account held in the respective aggregated deposit account based at least in part on the fee tier determined or obtained for the respective client account; (4) calculating or having calculated, by the one or more computers, a client account interest amount for each aggregated deposit account holding a respective amount, Ani, of the fund balance of the respective client account, wherein the interest amount for the respective aggregated deposit account holding funds of the respective client account is determined based, at least in part, on the amount, Ani, of the fund balance of the respective client account held in the respective aggregated deposit account; (5) determining, by the one or more computers, a respective total amount of interest for the respective client account, i, comprising at least summing the one or more interest amounts of the one or more aggregated deposit accounts holding a respective amount, Ani, of the fund balance of the respective client account, i; and (6) updating, by the one or more computers, the respective fund balance for the respective client account in the one or more electronic databases with this total amount of interest, wherein at least one of the one or more aggregated accounts holds funds of client accounts in different fee tiers.
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Specification