Transfer account systems, computer program products, and associated computer-implemented methods

• US 8,392,299 B2
• Filed: 10/26/2011
• Issued: 03/05/2013
• Est. Priority Date: 12/21/2007
• Status: Active Grant

• Current Assignee: Pathward National Association
• Original Assignee: MetaBank (Meta Financial Group Incorporated)
• Inventors: Sorbe, Trent, Larson, Troy
• Primary Examiner(s): Frenel, Vanel
• Application Number:
  US13/282,186
• Publication Number:
  US 20120041875A1
• Time in Patent Office: 496 Days
• Field of Search: 705/30, 705/44, 705/40, 705/39, 705/500, 700/1, 235/388
• US Class Current: 705/30
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass

Abstract

Embodiments of the present invention include transfer account systems, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing ACH file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a prepaid card account so that a customer has effective access on the prepaid card only to a net value of funds.

Claims

1. A computer-implemented method to provide prioritize payments from proceeds of automatic deposits, the method comprising the steps of:

creating, by a computer associated with a financial institution to define a financial institution computer, an intermediary account for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees so that debits from funds received by the intermediary accounts are adapted to be provided to one or more customer accounts associated with one or more of the plurality of enrollees and one or more preauthorized payments to one or more creditors selected by the one or more of the plurality of enrollees to define one or more select creditors;

identifying, by the financial institution computer, one or more identifier from a received incoming ACH file associated with one or more of the plurality enrollees, the one or more identifiers being associated with one or more automatic deposits; and

appending, by the financial institution computer, to the received incoming ACH file one or more unfilled preauthorized payments to one or more select creditors to define one or more prioritized payments to thereby create an outgoing ACH file so that the one or more prioritized payments is adapted to be deducted from the one or more automatic deposits associated with the one or more identifier from one or more intermediary accounts associated with the one or more automatic deposits, the outgoing ACH file further being adapted so that a balance of the one or more automatic deposits is adapted to be credited to the one or more customer accounts associated with the one or more of the plurality of enrollees.

2. A computer-implemented method as defined in claim 1, wherein one or more of the unfilled payments are initiated in response to a query from the financial institution computer to a second computer associating with the one or more select creditors, the second computer positioned remote from the financial institution computer.

3. A computer-implemented method as defined in claim 1, wherein enrollment for the prioritized payment is required as a condition of a loan and wherein the one or more customer accounts are remote from the financial institution computer.

4. A computer-implemented method as defined in claim 1, wherein the one or more customer accounts are one or more prepaid card accounts associated with one or more prepaid card processors positioned remote from the financial institution computer.

5. A computer-implemented method as defined in claim 1, the method further comprising:

determining, responsive to the identifying step, whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments to one or more select creditors, and wherein the appending step is responsive to determining whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments.

6. A computer-implemented method as defined in claim 1, wherein the balance is the one or more automatic deposits less the one or more prioritized payments and less a fee for the financial institution.

7. A computer associated with a financial institution to define a financial institution computer to provide prioritize payments from proceeds of automatic deposits, computer comprising:

one or more input/output unit for communicating with a plurality of second computers;

one or more processors; and

one or more non-transitory memories encoded with computer program and operable by the one or more processors so that during operations thereof a financial institution computer performs the operations of;

creating an intermediary account for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees so that debits from funds received by the intermediary accounts are adapted to be provided to one or more customer accounts associated with one or more of the plurality of enrollees and one or more preauthorized payments to one or more creditors selected by the one or more of the plurality of enrollees to define one or more select creditors;

identifying one or more identifier from a received incoming ACH file associated with one or more of the plurality enrollees, the one or more identifiers being associated with one or more automatic deposits; and

appending to the received incoming ACH file one or more unfilled preauthorized payments to one or more select creditors to define one or more prioritized payments to thereby create an outgoing ACH file so that the one or more prioritized payments is adapted to be deducted from the one or more automatic deposits associated with the one or more identifier from one or more intermediary accounts associated with the one or more automatic deposits, the outgoing ACH file further being adapted so that a balance of the one or more automatic deposits is adapted to be credited to the one or more customer accounts associated with the one or more of the plurality of enrollees.

8. A financial institution computer as defined in claim 7, wherein one or more of the unfilled payments are initiated in response to a query to a second computer associating with the one or more select creditors, the second computer positioned remote from the financial institution computer.

9. A financial institution computer as defined in claim 7, wherein enrollment for the prioritized payment is required as a condition of a loan and wherein the one or more customer accounts are remote from the financial institution computer.

10. A financial institution computer as defined in claim 7, wherein the one or more customer accounts are one or more prepaid card accounts associated with one or more prepaid card processors positioned remote from the financial institution computer.

11. A financial institution computer as defined in claim 7, the financial institution computer further performing the operation of:

determining, responsive to the identifying step, whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments to one or more select creditors, and wherein the appending step is responsive to determining whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments.

12. A financial institution computer as defined in claim 7, wherein the balance is the one or more automatic deposits less the one or more prioritized payments and less a fee for the financial institution.

13. Non-transitory medium encoded with computer program to provide prioritize payments from proceeds of automatic deposits and operable on a computer associated with a financial institution to define a financial institution computer, the computer program comprising the following instructions:

creating an intermediary account for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees so that debits from funds received by the intermediary accounts are adapted to be provided to one or more customer accounts associated with one or more of the plurality of enrollees and one or more preauthorized payments to one or more creditors selected by the one or more of the plurality of enrollees to define one or more select creditors;

identifying one or more identifier from a received incoming ACH file associated with one or more of the plurality enrollees, the one or more identifiers being associated with one or more automatic deposits; and

appending to the received incoming ACH file one or more unfilled preauthorized payments to one or more select creditors to define one or more prioritized payments to thereby create an outgoing ACH file so that the one or more prioritized payments is adapted to be deducted from the one or more automatic deposits associated with the one or more identifier from one or more intermediary accounts associated with the one or more automatic deposits, the outgoing ACH file further being adapted so that a balance of the one or more automatic deposits is adapted to be credited to the one or more customer accounts associated with the one or more of the plurality of enrollees.

14. Non-transitory memory as defined in claim 13, wherein one or more of the unfilled payments are initiated in response to a query to a second computer associating with the one or more select creditors.

15. Non-transitory memory as defined in claim 13, wherein enrollment for the prioritized payment is required as a condition of a loan.

16. Non-transitory memory as defined in claim 13, wherein the one or more customer accounts are one or more prepaid card accounts associated with one or more prepaid card processors.

17. Non-transitory memory as defined in claim 13, the computer program further comprising the instruction of:

determining, responsive to the identifying step, whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments to one or more select creditors, and wherein the appending step is responsive to determining whether the one or more automatic deposits is associated with one or more unfilled preauthorized payments.

18. Non-transitory memory as defined in claim 13, wherein the balance is the one or more automatic deposits less the one or more prioritized payments and less a fee for the financial institution.

19. Non-transitory memory as defined in claim 13, wherein the one or more select creditors includes at least a second financial institution different and remote from the financial institution.

20. Non-transitory memory as defined in claim 13, wherein the one or more select creditors are associated with a second financial institution different and remote from the financial institution;

and wherein the prioritized payments include customer-initiated payments, including one or more of the following;

a gift card purchase, a remittance to family located outside a country where a prepaid card account holder is located, and a bill payment to a third-party.