Methods of delivering payments to multiple parties
First Claim
1. A method for facilitating the transfer of a refund amount from an educational institution to a student and a parent, said method comprising:
- receiving an indication of a refund amount associated with a student of the educational institution, said refund amount being made payable to both said student and a parent of said student;
opening one or more soft accounts at one or more banks for one or more of said student and said parent;
inviting one of said student and said parent to electronically select each preferred method of funds delivery;
authenticating the identity of said student and said parent;
electronically receiving said preferred method of funds delivery selected by one of said student and said parent; and
automatically arranging for said refund amount to be provided to said student and said parent according to said preferred method of funds delivery it electronically selected.
8 Assignments
0 Petitions
Accused Products
Abstract
The disclosed subject matter includes a method of distributing a payment of funds made payable to two or more payees. In some embodiments, the method includes the following: receiving a payment of funds made payable to two or more payees; inviting each of the two or more payees to electronically select a preferred method of funds delivery; authenticating each of the two or more payees'"'"' identity; electronically receiving the preferred method of funds delivery selected by each of the two or more payees; and delivering funds from the payment of funds to one or more of the two or more payees according to the preferred methods of funds delivery received.
-
Citations
6 Claims
-
1. A method for facilitating the transfer of a refund amount from an educational institution to a student and a parent, said method comprising:
-
receiving an indication of a refund amount associated with a student of the educational institution, said refund amount being made payable to both said student and a parent of said student; opening one or more soft accounts at one or more banks for one or more of said student and said parent; inviting one of said student and said parent to electronically select each preferred method of funds delivery; authenticating the identity of said student and said parent; electronically receiving said preferred method of funds delivery selected by one of said student and said parent; and automatically arranging for said refund amount to be provided to said student and said parent according to said preferred method of funds delivery it electronically selected. - View Dependent Claims (2, 3, 4, 5, 6)
-
Specification