System and method for providing borrowing schemes
First Claim
1. An automated method for providing a borrowing scheme, the method comprising the steps of:
- receiving a time-based spending alert threshold designation from a user via a network;
receiving a designation of at least one category of transactions from the user via the network;
receiving an allocation, from the user, of a portion of the time-based spending total threshold designation to the at least one category;
automatically allocating one or more user transactions to the at least one category using a programmed computer processor upon the one or more user transactions meeting criteria for the at least one category;
notifying the user via the network of a status of the time-based spending alert threshold designation for the at least one category comprising information that the time-based spending alert threshold designation is being approached or surpassed; and
automatically modifying, by the programmed computer processor, the portion of the time-based spending alert threshold designation designated for a particular category for an upcoming period of time upon the portion being surpassed for the particular category.
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Accused Products
Abstract
A system and method providing a borrowing scheme. The method comprises the steps of: receiving a time-based spending alert threshold designation from a user via the network; receiving at least one category of transaction designations from the user via the network, wherein each of the categories is associated with a portion of the time-based spending alert threshold designation; automatically allocating user transactions among the categories using the programmed computer processor; notifying the user via the network of the portion of the time-based spending alert threshold designation for a particular category that is being approached or surpassed; and automatically modifying the portion of the time-based spending alert threshold designation for the particular category for the upcoming period of time if the limit is surpassed, wherein the modification is performed by the programmed computer processor.
541 Citations
22 Claims
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1. An automated method for providing a borrowing scheme, the method comprising the steps of:
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receiving a time-based spending alert threshold designation from a user via a network; receiving a designation of at least one category of transactions from the user via the network; receiving an allocation, from the user, of a portion of the time-based spending total threshold designation to the at least one category; automatically allocating one or more user transactions to the at least one category using a programmed computer processor upon the one or more user transactions meeting criteria for the at least one category; notifying the user via the network of a status of the time-based spending alert threshold designation for the at least one category comprising information that the time-based spending alert threshold designation is being approached or surpassed; and automatically modifying, by the programmed computer processor, the portion of the time-based spending alert threshold designation designated for a particular category for an upcoming period of time upon the portion being surpassed for the particular category. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for processing account transactions, comprising:
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an account transactions processor for processing transactions conducted using an account, and a borrowing scheme processor for;
(1) receiving a time-based spending alert threshold designation from a user, (2) receiving a designation of at least one category of transactions from the user, and receiving an allocation, from the user, of a portion of the time-based spending total threshold designation to the at least one category, (3) notifying the user of a status of the time-based spending alert threshold designation for a particular category upon the time-based spending alert threshold designation being approached or surpassed, and (4) modifying the portion of the time-based spending alert threshold designation for the particular category for an upcoming period of time upon the designation portion of the time-based spending alert threshold being surpassed. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for processing account transactions, comprising:
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an account transactions processor for processing transactions conducted with an account; a borrowing scheme processor for; (1) receiving a time-based spending alert threshold designation from a user, via an online portal or a customer service representative, that is valid for a specified period of time, (2) receiving a designation of at least one category of transactions from the user that is associated with a designated portion of the time-based spending alert threshold designation, and the at least one category of transactions comprises at least one category of purchase transactions, a merchant category code (MCC), a merchant or vendor identity, an amount spent, a transaction level, or products or goods purchased, (3) notifying the user of a status of the time-based spending alert threshold designation for each category that is being approached or surpassed when the allocated transaction amount for the particular category is a certain percentage or more of the portion of the time-based spending alert threshold designated for the particular category, and (4) modifying the portion of the time-based spending alert threshold designation for the particular category for an upcoming period of time when the designated portion of the time-based spending alert threshold designation for the particular category is surpassed, and a statement processor for; (1) determining at least one borrowing scheme the user is enrolled in, (2) receiving transaction and account particulars associated with the at least one borrowing scheme from the borrowing scheme processor, (3) automatically generating statement details associated with the at least one borrowing scheme, and (4) providing the statement details to the user via an online statement or a physical hard copy statement.
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Specification