Transfer account systems, computer program products, and computer-implemented methods to prioritize payments from preselected bank account

• US 8,392,330 B2
• Filed: 10/28/2011
• 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:
  US13/284,524
• Publication Number:
  US 20120047066A1
• Time in Patent Office: 494 Days
• Field of Search: 705/30, 705/35, 705/34, 705/39, 705/402, 705/41, 705/44, 705/16, 235/384
• US Class Current: 705/40
• 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/145 Payments according to the detected use or quantity
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• 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

Abstract

A financial institution computer maintains one or more lists of account identifiers for accounts enrolled in a prioritized payment program including pre-authorization of certain payment requests by select creditors. The computer estimates a value of one or more prioritized payments associated with a first account and authorizes a first sweep payment to a second account at a second financial institution from a third stand-in account at a payroll processor, so that the estimated value is held back in the stand-in account. Then the computer receives an automatic deposit associated with an account identifier for a first account. The financial institution computer generates prioritized payments from the first account to select creditors and generates a second sweep payment, if necessary, from the first account to the second account, responsive to the incoming automatic deposit. The second account can be, for example, a demand deposit account or a prepaid card account.

Claims

1. A computer associated with a financial institution to define a financial institution computer for proving prioritized payments from proceeds of automatic deposits, the financial institution computer comprising:

one or more processors;

one or more input/output units to communicate with a plurality of depository institution computers adapted to send and withhold at least a portion of a plurality of automatic deposits;

one or more non-transitory memories encoded with computer program operable by a financial institution computer to provide prioritize payments from proceeds of a plurality of automatic deposits, the computer program comprising a set of instructions that, when executed by the financial institution computer, cause the financial institution computer to perform the operations of;

estimating a total value of prioritize payments associated with one or more of a plurality of first accounts enrolled in prioritized payments with a financial institution,

updating one or orate of the plurality or depository institution computers with the estimated total value of the prioritized payments, and

authorizing the one or more of the plurality of depository institution computers to withhold from one or more or the plurality of automatic deposits the estimated total value of the prioritized payments when the financial institution computers is unavailable to receive the one or more of the plurality of automatic deposits for real-time processing.

2. A financial institution computer as defined in claim 1, wherein the estimated total value is based on a history of prioritized payments.

3. A financial institution computer as defined in claim 1, wherein the estimated total value is based on one or more unfilled pro-authorized payment request by one or more select creditors.

4. A financial institution computer as defined in claim 1, wherein the financial institution is a first financial institution and the financial institution computer is a first financial institution computer,

wherein the one or more input/output units further being adapted to communicate with a plurality of second computers associated with a plurality of second financial institution to thereby define a plurality of second financial institution computers, and

wherein the one or more of the plurality of depository institution computers are adapted to deposit a balance of the one or more of the plurality of automatic deposits minus the estimated total value of the prioritized payments to thereby define a sweep payment to one or more of a plurality of second user accounts at one or more of the plurality of second financial institutions, each of the one or more of the plurality of second user accounts being associated with one or more enrollees enrolled in prioritized payments so that the one or more enrollees only have access to the one or more of the plurality of automatic deposits net the estimated total value of prioritized payments to be paid to select creditors.

5. A financial institution computer as defined in claim 4, wherein the computer program further causes the first financial institution computer to perform the operation of:

generating by the first financial institution computer one or more prioritized payments to one or more select creditors responsive to the first financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers; and

generating a remaining balance of the estimated total value of the one or more prioritized payments received from the one or more of the plurality of depository institution computers less the one or more prioritize payments to select creditors from the first financial institution computer to the second user account at one or more of the plurality of second financial institutions when the estimated total value of the one or more prioritized payments exceeds the one or more prioritized payments to one or more select creditors.

6. A financial institution computer as defined in claim 4, wherein the first financial institution computer is a primary authorization computer for the plurality of first accounts;

and wherein the plurality of second accounts are demand accounts of enrollees enrolled in prioritized payments.

7. A financial institution computer as defined in claim 4, wherein the plurality of second user accounts at the second financial institution is one or more of the following:

a demand deposit account, a checking account, a savings account, a money market account, a brokerage account, and on account associated with a prepaid card.

8. A financial institution computer as defined in claim 1, wherein the computer program further causes the financial institution computer to perform the operation of

generating by the financial institution computer one or more prioritized payments to one or more select creditors responsive to the financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers.

9. Non-transitory computer-readable memory encoded with computer program operable on a computer associated with a financial institution to define a financial institution computer to provide prioritize payments from proceeds of automatic deposits, the computer program comprising as set of instructions that, when executed by the financial institution computer, cause the financial institution computer to perform the operations of;

estimating as total value of prioritize payments associated with one or more of a plurality of first accounts enrolled in prioritized payments with a financial institution,

updating one or more of a plurality of depository institution computers with the estimated total value of the prioritized payments, and

authorizing the one or more of the plurality of depository institution computers to withhold from one or more of a plurality of automatic deposits the estimated total value of the prioritized payments when the financial institution computers is unavailable to receive the one or more of the plurality of automatic deposits or real-time processing.

10. Non-transitory computer-readable memory as defined in claim 9, wherein the estimated total value is based on a history of prioritized payments.

11. Non-transitory computer-readable memory as defined in claim 9, wherein the estimated total value is based on one or more unfilled pre-authorized payment request by one or more select creditors.

12. Non-transitory computer-readable memory as defined in claim 9, wherein the financial institution is a first financial institution and the financial institution computer is a first financial institution computer,

wherein the first financial institution computer is adapted to communicate with a plurality of second computers associated with a plurality of second financial institutions to thereby define a plurality of second financial institution computers, and

wherein the one or more of the plurality of depository institution computers are adapted to deposit a balance of the one or more of the plurality of automatic deposits minus the estimated total value of the prioritized payments to thereby define a sweep payment to one or more of a plurality of second user accounts at one or more, of the plurality of second financial institutions, each or the one or more of the plurality of second user accounts being associated with one or more enrollees enrolled in prioritized payments so that the one or more enrollees only have access to the one or more of the plurality of automatic deposits net the estimated total value of prioritized payments to be paid to select creditors.

13. Non-transitory computer-readable memory as defined in claim 12, wherein the computer program further causes the first financial institution computer to perform the operation of:

generating by the first financial institution computer one or more prioritized payments to one or more select creditors responsive to the first financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers; and

generating a remaining balance of the estimated total value of the one or more prioritized payments received from the one or more of the plurality of depository institution computers less the one or more prioritize payments to select creditors from the first financial institution computer to the second user account at one or more of the plurality of second financial institutions when the estimated total value of the one or more prioritized payments exceeds the one or more prioritized payments to one or more select creditors.

14. Non-transitory computer-readable memory as defined in claim 12, wherein the first financial institution computer is a primary authorization computer for the plurality of first accounts;

and wherein the plurality of second accounts are demand accounts of enrollees enrolled in prioritized payments.

15. Non-transitory computer-readable memory as defined in claim 9, wherein the computer program further causes the financial institution computer to perform the operation of:

generating by the financial institution computer one or more prioritized payments to one or more select creditors responsive to the financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers.

16. A computer-implemented method of providing prioritized payments from proceeds of automatic deposits, the computer-implemented method comprising:

estimating, by a computer, a total value of prioritize payments associated with one or more of a plurality of first accounts enrolled in prioritized payments with a financial institution, the computer being associated with the financial institution and adapted to communicated with a plurality of depository institution computers to define a financial institution computer,

updating, by the financial institution computer, one or more of the plurality of depository institution computers with the estimated total value of the prioritized payments, and

authorizing, by the financial institution computer, the one or more of the plurality of depository institution computers to withhold from one or more of a plurality of automatic deposits the estimated total value of the prioritized payments when the financial institution computers is unavailable to receive the one or more of the plurality of automatic deposits for real-time processing.

17. A computer-implemented method as define in claim 16, wherein the estimated total value is based on one or more of the following:

a history of prioritized payments and one or more unfilled pre-authorized payment request by one or more select creditors.

18. A computer-implemented method as define in claim 16, wherein the financial institution is a first financial institution and the financial institution computer is a first financial institution computer,

wherein the first financial institution is adapted to communicate with a plurality of second computers associated with at plurality of second financial institutions to thereby define a plurality of second financial institution computers, and

wherein the one or more of the plurality of depository institution computers are adapted to deposit a balance of the one or more of the plurality of automatic deposits minus the estimated total value of the prioritized payments to thereby define a sweep payment to one or more of a plurality of second user accounts at one or more of the plurality of second financial institutions, each of the one or more of the plurality of second user accounts being associated with one or more enrollees enrolled in prioritized payments so that the one or more enrollees only have access to the one or more of the plurality of automatic deposits net the estimated total value of prioritized payments to be paid to select creditors.

19. A computer-implemented method as define in claim 18, the method further comprising:

generating by the first financial institution computer one or more prioritized payments to one or more select creditors responsive, to the first financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers; and

generating a remaining balance of the estimated total value of the one or more prioritized payments received from the one or more of the plurality of depository institution computers less

the one or more prioritize payments to select creditors from the first financial institution

computer to the second user account at one or more of the plurality of second financial institutions when the estimated total value of the one or more prioritized payments exceeds the

one or more prioritized, payments to one or more select creditors.

20. A computer-implemented method as define in claim 16, the method further comprising:

generating by the financial institution computer on or more prioritized payments to one or more select creditors responsive to the financial institution computer being available to receive deposits in real-time from the one or more of the plurality of depository institution computers.