Transferring funds between parties' financial accounts

• US 8,401,938 B1
• Filed: 05/12/2008
• Issued: 03/19/2013
• Est. Priority Date: 05/12/2008
• Status: Active Grant

• Current Assignee: The PNC Financial Services Group, Inc.
• Original Assignee: The PNC Financial Services Group, Inc.
• Inventors: Chapman, Michael Aaron, Ko, Hyun Jin, Monson, Rodney Hal, Jones, Mark Alexander, Mackrell, Bryan L., Ley, Michael
• Primary Examiner(s): Gart, Matthew S
• Assistant Examiner(s): Glass, Russell S
• Application Number:
  US12/152,073
• Time in Patent Office: 1,772 Days
• Field of Search: 705/34
• US Class Current: 705/34
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/3255 using mobile network messaging services for payment, e.g. SMS

Abstract

Computer-implemented methods for requesting a transfer of funds between a first party a second party: the methods may comprise receiving from the first party an instruction to initiate a transfer request and an electronic copy of a bill associated with the transfer request. The methods may also comprise receiving from the first party a text message associated with the transfer request and an indication of at least a second party who is a recipient of the transfer request. In addition, the methods may comprise posting the transfer request to an account of the second party. The transfer request may comprise the electronic copy of the bill associated with the transfer request, and the text message associated with the transfer request.

Claims

1. A computer-implemented method of administering expense sharing between parties, the method comprising:

receiving, by a computer, from a first party a request to implement an expense sharing interface, wherein the computer comprises at least one processor and operatively associated memory;

receiving, by the computer, from the first party an indication of a potential second party;

sending, by the computer, a communication to the potential second party, wherein the communication comprises an invitation to join the expense sharing interface;

receiving, by the computer, a description of at least one expense from one of the first party and the second party;

posting, by the computer, a first expense to the expense sharing interface, wherein the expense sharing interface is accessible to the first party and the second party;

determining, by the computer, an amount of the first expense attributable to the first party and an amount of the first expense attributable to the second party;

sending, by the computer, a transfer request to the second party, wherein the transfer request requests that the second party transfer the amount of the first expense attributable to the second party; and

paying, by the computer, the first expense from a financial account of the first party, wherein the paying of the first expense occurs automatically by a predetermined date regardless of whether the amount attributable to the second party is received to the financial account of the first party.

2. The method of claim 1, wherein the description of the expense comprises an indication of a first portion of the expense attributable to the first party and an indication of a second portion of the expense attributable to the second party.

3. The method of claim 1, further comprising transferring the amount attributable to the second party from a financial account of the second party to the financial account of the first party.

4. The method of claim 3, wherein the paying of the first expense occurs automatically when the amount attributable to the second party is received to the financial account of the first party.

5. The method of claim 1, wherein determining the amount of the first expense attributable to the first party and the amount of the first expense attributable to the second party comprises calculating a pro-rata distribution of the first expense.

6. The method of claim 1, wherein determining the amount of the first expense attributable to the first party and the amount of the first expense attributable to the second party comprises calculating a predetermined distribution of the first expense, wherein the predetermined distribution is received from at least one of the first party and the second party.

7. The method of claim 1, wherein the invitation to join the expense sharing interface comprises an invitation to open an account at a financial institution implementing the expense sharing interface.

8. A system for administering expense sharing between parties, the system comprising:

at least one computer device comprising at least one processor and operatively associated memory, the memory comprising instructions that, when executed by the at least one processor, cause the at least one computer device to;

receive from a first party a request to implement an expense sharing interface;

receive from the first party an indication of a potential second party;

send a communication to the potential second party, wherein the communication comprises an invitation to join the expense sharing interface;

receive a description of at least one expense from one of the first party and the second party;

post a first expense to the expense sharing interface, wherein the expense sharing interface is accessible to the first party and the second party;

determine an amount of the first expense attributable to the first party and an amount of the first expense attributable to the second party;

send a transfer request to the second party, wherein the transfer request requests that the second party transfer the amount of the first expense attributable to the second party; and

pay the first expense from a financial account of the first party, wherein the paying of the first expense occurs automatically by a predetermined date regardless of whether the amount attributable to the second party is received to the financial account of the first party.

9. A computer readable storage medium having instructions thereon that, when executed by at least one processor, cause the at least one processor to:

receive from a first party a request to implement an expense sharing interface;

receive from the first party an indication of a potential second party;

send a communication to the potential second party, wherein the communication comprises an invitation to join the expense sharing interface;

receive a description of at least one expense from one of the first party and the second party;

post a first expense to the expense sharing interface, wherein the expense sharing interface is accessible to the first party and the second party;

determine an amount of the first expense attributable to the first party and an amount of the first expense attributable to the second party;

send a transfer request to the second party, wherein the transfer request requests that the second party transfer the amount of the first expense attributable to the second party; and

pay the first expense from a financial account of the first party, wherein the paying of the first expense occurs automatically by a predetermined date regardless of whether the amount attributable to the second party is received to the financial account of the first party.