Systems and methods for automatically reinvesting certificate of deposits with an increase of the investment

• US 8,571,962 B1
• Filed: 06/26/2009
• Issued: 10/29/2013
• Est. Priority Date: 06/26/2009
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: West, Billie Jean
• Primary Examiner(s): AMELUNXEN, BARBARA J
• Application Number:
  US12/492,286
• Time in Patent Office: 1,586 Days
• Field of Search: 705/35, 705/36, 705/36.R, 705/39, 705/42, 705/51, 705/37, 709/224, 710/54, 710/200, 379/265.06
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system implemented on one or more computer processors may comprise at least one subsystem configured for automatically purchasing a first certificate of deposit for an investor for a specified amount of money having a predetermined term, at least one subsystem configured for waiting a predetermined period of time no longer than the term of the first certificate of deposit, at least one subsystem configured for automatically purchasing another certificate of deposit for an investor for the specified amount of money and having the same predetermined term, at least one subsystem configured for repeating actions for which each subsystem above is configured until a second specified amount of money has been spent.

Claims

1. A non-transitory computer-readable medium having computer-executable instructions stored thereon, wherein the computer-executable instructions comprise instructions for programming a processor to facilitate investing in certificates of deposit, the instructions comprising instructions for:

receiving a request to purchase a certificate of deposit wheel comprising more than one certificate of deposit each having the same term and the same period;

receiving an initial amount of funds from an investor;

setting an initial value of the certificate of deposit wheel equal to the initial amount of funds;

receiving, for the certificate of deposit wheel, an investor-selected term and period, wherein the period comprises the period between purchasing each of the more than one certificate of deposit;

purchasing each of the more than one certificate of deposit with the initial amount of funds based on the investor-selected term and period, wherein the purchasing comprises purchasing a last certificate of deposit prior to the maturation of a first purchased certificate of deposit;

providing, on a user interface, reinvestment election options for the value of each of the more than one certificate of deposit as each of the more than one certificate of deposit matures;

receiving a reinvestment election for each of the more than one certificate of deposit prior to the maturation of each of the more than one certificate of deposit;

reinvesting the value of each of the matured certificate of deposit according to the reinvestment election;

updating, on the user interface, a value of the certificate of deposit wheel as each of the more than one certificate of deposit matures;

determining the value of the certificate of deposit wheel;

dissolving the certificate of deposit wheel by converting the certificate of deposit wheel into individual certificates of deposit when the value of the certificate of deposit wheel is determined to be below a predetermined percentage of the initial value of the certificate of deposit wheel; and

repeating the reinvesting step and the updating step when the value of the certificate of deposit wheel is determined to not be below the predetermined percentage of the initial value of the certificate of deposit wheel.

2. The non-transitory computer-readable medium of claim 1, wherein the reinvestment election comprises an election to reinvest, wherein the reinvesting the value of each of the matured certificate of deposit according to the reinvestment election comprises instructions for reinvesting at least a portion of the value of the matured certificate of deposit into a new certificate of deposit having the same term as the matured certificate of deposit.

3. The non-transitory computer-readable medium of claim 2, wherein the reinvestment election further comprises an election to increase investment by an additional amount of funds, wherein the reinvesting the value of the matured certificate of deposit according to the reinvestment election further comprises instructions for investing the additional amount of funds into the new certificate of deposit.

4. The non-transitory computer-readable medium of claim 1, wherein the reinvestment election comprises an election to liquidate, wherein the reinvesting the value of each of the matured certificate of deposit according to the reinvestment election comprises instructions for liquidating the value of the certificate of deposit and depositing the value of the certificate of deposit into an account of the investor.

5. The non-transitory computer-readable medium of claim 1, further comprising instructions for receiving an investor-selected amount for each of the more than one certificate of deposit wherein the purchasing each of the more than one certificate of deposit is based on the investor-selected amount.

6. The non-transitory computer-readable medium of claim 1, wherein any portion of the initial amount of funds may not be returned to the investor before a maturity date of the first purchased certificate of deposit without incurring monetary penalties, wherein the monetary penalty comprises reducing an interest rate of one or more of the certificates of deposit purchased.

7. A system for facilitating investing in certificates of deposit, the system comprising:

a memory; and

a processor in connection with the memory, the processor operable to execute software modules, the software modules comprising;

a module configured to receive a request to purchase a certificate of deposit wheel comprising more than one certificate of deposit each having the same term and the same period;

a module configured to receive an initial amount of funds from an investor;

a module configured to set an initial value of the certificate of deposit wheel equal to the initial amount of funds;

a module configured to receive, for the certificate of deposit wheel, an investor-selected term and period, wherein the period comprises the period between purchasing each of the more than one certificate of deposit;

a module configured to purchase each of the more than one certificate of deposit with the initial amount of funds based on the investor-selected term and period, wherein the purchasing comprises purchasing a last certificate of deposit prior to the maturation of a first purchased certificate of deposit;

a module configured to provide, on a user interface, reinvestment election options for the value of each of the more than one certificate of deposit as each of the more than one certificate of deposit matures;

a module configured to receive a reinvestment election for each of the more than one certificate of deposit prior to the maturation of each of the more than one certificate of deposit;

a module configured to reinvest the value of each of the matured certificate of deposit according to the reinvestment election;

a module configured to update, on the user interface, a value of certificate of deposit wheel as each of the more than one certificate of deposit matures;

a module configured to dissolve the certificate of deposit wheel by converting the certificate of deposit wheel into individual certificates of deposit when the updated value of the certificate of deposit wheel is below a predetermined percentage of the initial value of the certificate of deposit wheel; and

a module configured to repeat the reinvesting step and the updating step when the updated value of the certificate of deposit wheel is not below the predetermined percentage of the initial value of the certificate of deposit wheel.

8. The system of claim 7, wherein the reinvestment election comprises an election to reinvest, wherein the module configured to reinvest the value of each of the matured certificate of deposit according to the reinvestment election is further configured to reinvest at least a portion of the value of the matured certificate of deposit into a new certificate of deposit having the same term as the matured certificate of deposit.

9. The system of claim 8, wherein the reinvestment election further comprises an election to increase investment by an additional amount of funds, wherein the module configured to reinvest the value of the matured certificate of deposit according to the reinvestment election is further configured to invest the additional amount of funds into the new certificate of deposit.

10. The system of claim 7, wherein the reinvestment election comprises an election to liquidate, wherein the module configured to reinvest the value of each of the matured certificate of deposit according to the reinvestment election is further configured to liquidate the value of the certificate of deposit and deposit the value of the certificate of deposit into an account of the investor.

11. The system of claim 7, wherein the software modules further comprise a module configured to receive an investor-selected amount for each of the more than one certificate of deposit, wherein the module configured to purchase the each of the more than one certificate of deposit is further configured to purchase the each of the more than one certificate of deposit based on the investor-selected amount.

12. The system of claim 7, wherein any portion of the initial amount of funds may not be returned to the investor before a maturity date of the first purchased certificate of deposit without incurring monetary penalties, wherein the monetary penalty comprises reducing an interest rate of one or more of the certificates of deposit purchased.

13. A method of facilitating investing in certificates of deposit using a computer, the method comprising:

receiving a request to purchase a certificate of deposit wheel comprising more than one certificate of deposit each having the same term and the same period;

receiving, via a processor, an initial amount of funds from an investor;

setting an initial value of the certificate of deposit wheel equal to the initial amount of funds;

receiving, via the processor, for the certificate of deposit wheel, an investor-selected term and period, wherein the period comprises the period between purchasing each of the more than one certificate of deposit;

purchasing, via the processor, of deposit with the initial amount of funds based on the investor-selected term and period, wherein the purchasing comprises purchasing a last certificate of deposit prior to the maturation of a first purchased certificate of deposit;

providing, on a user interface, reinvestment election options for the value of each of the more than one certificate of deposit as each of the more than one certificate of deposit matures;

receiving, via the processor, a reinvestment election for each of the more than one certificate of deposit prior to the maturation of each of the more than one certificate of deposit;

reinvesting, via the processor, the value of each of the matured certificate of deposit according to the reinvestment election;

updating, on the user interface, a value of the certificate of deposit wheel as each of the more than one certificate of deposit matures;

determining the value of the certificate of deposit wheel;

dissolving, via the processor, the certificate of deposit wheel by converting the certificate of deposit wheel into individual certificates of deposit when the value of the certificate of deposit wheel is determined to be below a predetermined percentage of the initial value of the certificate of deposit wheel; and

repeating the reinvesting step and the updating step when the value of the certificate of deposit wheel is determined to not be below the predetermined percentage of the initial value of the certificate of deposit wheel.

14. The method of claim 13, wherein the reinvestment election comprises an election to reinvest, wherein the reinvesting the value of each of the matured certificate of deposit according to the reinvestment election comprises reinvesting at least a portion of the value of the matured certificate of deposit into a new certificate of deposit having the same term as the matured certificate of deposit.

15. The method of claim 14, wherein the reinvestment election further comprises an election to increase investment by an additional amount of funds, wherein the reinvesting the value of the matured certificate of deposit according to the reinvestment election further comprises investing the additional amount of funds into the new certificate of deposit.

16. The method of claim 13, wherein the reinvestment election comprises an election to liquidate, wherein the reinvesting the funds according to the reinvestment election comprises liquidating the value of each of the certificate of deposit and depositing the value of the certificate of deposit into an account of the investor.

17. The method of claim 13, further comprising receiving an investor-selected amount for each of the more than one certificate of deposit, wherein the purchasing each of the more than one certificate of deposit is based on the investor-selected amount.

18. The method of claim 13, wherein any portion of the initial amount of funds may not be returned to the investor before a maturity date of the first purchased certificate of deposit without incurring monetary penalties, wherein the monetary penalty comprises reducing an interest rate of one or more of the certificates of deposit purchased.