Systems and methods for providing individualized financial access

• US 8,630,946 B2
• Filed: 11/14/2002
• Issued: 01/14/2014
• Est. Priority Date: 11/04/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Moore, Gary F., Shapiro, David T., Newton, Robert W.
• Primary Examiner(s): Augustin, Evens J
• Application Number:
  US10/295,769
• Publication Number:
  US 20040088261A1
• Time in Patent Office: 4,079 Days
• Field of Search: 705/40, 705/30, 705/39, 705/42
• 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 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods for implementing one or a series of value transfers. In some instances, the systems and methods include web or Internet based user interfaces that provide a mechanism whereby a user can implement a transfer plan without interacting with a human operator. Further, in some instances, such systems and methods provide a mechanism for authorizing access to one or more asset accounts from which value is transferred, and/or recipient accounts to which value is transferred. In some cases, the authorization function is performed by an entity that enjoys a pre-existing relationship with a user accessing the systems of the present invention, while any actual transfers are performed by a third party entity. This can be an advantage where authorization requires a signature or other interaction with a user sufficient to conform to electronic signature laws.

Claims

1. A method for implementing a catch-up program with a delinquent account owner, the method comprising:

collecting, by a web page interface, information from the delinquent account owner regarding;

an asset account, wherein the asset account comprises a selection from a group consisting of;

a paycheck, a bank account, and a revolving credit account; and

authentication information, wherein the authentication information authenticates that the delinquent account owner authorizes access to the asset account for making at least one payment to a delinquent account;

accessing, by the web page interface, a payment planning system;

providing, from the web page interface, information regarding the delinquent account and the asset account to the payment planning system, the information including;

an account number of the delinquent account;

information regarding the asset account;

the authentication information; and

an indication that at least one of the account number of the delinquent account, the information regarding the asset account, or the authentication information was or was not provided by a third party bill collector;

accessing by the web page interface the asset account using the authentication information

providing, from the web page interface to the payment planning system, information regarding an amount to be transferred from the asset account to the delinquent account, a total number of transfers, a frequency of transfers, and a date of an initial transfer; and

receiving, at the web page interface, from the payment planning system a conformation of an initiation of a catch-up program.

2. The method of claim 1, further comprising:

for at least one of the total number of transfers, initiating, with the payment planning system, a first transfer from a first account to an interim account, and a second transfer from the interim account to a second account.

3. The method of claim 1, wherein collecting information from the delinquent account owner comprises inputting information into an interface.

4. The method of claim 3, wherein inputting information into an interface comprises prepopulating the interface with new information and information previously received.

5. The method of claim 1, wherein:

a first processor conducts at least a portion of one of the following steps;

collecting information;

receiving an agreement to pay the delinquent account;

receiving approval from the delinquent account owner to implement the catch-up program;

accessing a payment planning system; and

provide information regarding the delinquent account and the asset account to the payment planning system; and

a second processor conducts at least a portion of one of the following steps;

attempt to access the asset account using the authentication information;

providing information regarding an amount to be transferred from the asset account to the delinquent account, a total number of transfers, a frequency of transfers, and a date of an initial transfer; and

confirming initiation of the catch-up program.

6. The method of claim 5, wherein the first processor is maintained by an entity that maintains the asset account.

7. The method of claim 5, wherein the second processor is maintained by an entity that maintains the delinquent account.

8. The method of claim 5, wherein the first processor or the second processor is maintained by a third party service provider which does not maintain the asset account or the delinquent account.

9. The method of claim 1, wherein the asset account is a bank account.

10. The method of claim 1, wherein the delinquent account is a loan account.

11. A non-transitory storage medium, storing executable instructions that when executed by a processor causes the processor to perform the steps of:

collecting, by a web page interface, information from the delinquent account owner regarding;

an asset account, wherein the asset account comprises a selection from a group consisting of;

a paycheck, a bank account, and a revolving credit account; and

authentication information, wherein the authentication information authenticates that the delinquent account owner authorizes access to the asset account for making at least one payment to a delinquent account;

accessing, by the web page interface, a payment planning system;

providing, from the web page interface, information regarding the delinquent account and the asset account to the payment planning system, the information including;

an account number of the delinquent account;

information regarding the asset account;

the authentication information; and

an indication that at least one of the account number of the delinquent account, the information regarding the asset account, or the authentication information was or was not provided by a third party bill collector;

accessing by the web page interface the asset account using the authentication information

providing, from the web page interface to the payment planning system, information regarding an amount to be transferred from the asset account to the delinquent account, a total number of transfers, a frequency of transfers, and a date of an initial transfer; and

receiving, at the web page interface, from the payment planning system a conformation of an initiation of a catch-up program.

12. The non-transitory storage medium of claim 11, wherein the processor-executable instructions further comprise instructions for:

for at least one of the total number of transfers, initiating a first transfer from a first account to an interim account, and a second transfer from the interim account to a second account.

13. The non-transitory storage medium of claim 11, wherein the storage medium is maintained by a third party service provider which does not maintain the asset account or the delinquent account.

14. The non-transitory storage medium of claim 11, wherein the asset account is a bank account.

15. The non-transitory storage medium of claim 11, wherein the delinquent account is a loan account.

16. A system for implementing a catch-up program with a delinquent account owner, the system comprising:

a servicing entity subsystem comprising a processor and a memory storing executable instructions that when executed by the processor causes the processor to perform the steps of;

collecting, by a web page interface, information from the delinquent account owner regarding;

an asset account, wherein the asset account comprises a selection from a group consisting of;

a paycheck, a bank account, and a revolving credit account; and

authentication information, wherein the authentication information authenticates that the delinquent account owner authorizes access to the asset account for making at least one payment to a delinquent account;

accessing, by the web page interface, a payment planning system;

providing, from the web page interface, information regarding the delinquent account and the asset account to the payment planning system, the information including;

an account number of the delinquent account;

information regarding the asset account;

the authentication information; and

an indication that at least one of the account number of the delinquent account, the information regarding the asset account, or the authentication information was or was not provided by a third party bill collector;

accessing by the web page interface the asset account using the authentication information

providing, from the web page interface to the payment planning system, information regarding an amount to be transferred from the asset account to the delinquent account, a total number of transfers, a frequency of transfers, and a date of an initial transfer; and

receiving, at the web page interface, from the payment planning system a conformation of an initiation of a catch-up program.

17. The system of claim 16, wherein the servicing entity subsystem is configured to:

for at least one of the total number of transfers, initiating a first transfer from a first account to an interim account, and a second transfer from the interim account to a second account.

18. The system of claim 16, wherein the servicing entity subsystem is maintained by a third party service provider which does not maintain the asset account or the delinquent account.

19. The non-transitory storage medium of claim 16, wherein the asset account is a bank account.

20. The non-transitory storage medium of claim 16, wherein the delinquent account is a loan account.