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Methods of delivering payments to multiple parties

  • US 8,352,361 B2
  • Filed: 12/17/2007
  • Issued: 01/08/2013
  • Est. Priority Date: 01/17/2002
  • Status: Active Grant
First Claim
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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.

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