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

• US 8,788,414 B2
• Filed: 12/18/2008
• Issued: 07/22/2014
• 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): Zeender, Ryan
• Assistant Examiner(s): ROJAS, HAJIME S
• Application Number:
  US12/338,584
• Publication Number:
  US 20090164352A1
• Time in Patent Office: 2,042 Days
• Field of Search: None
• 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 and receives an automatic deposit associated with an account identifier for a first account enrolled in the prioritized payment program. The prioritized payment program includes pre-authorization of certain payment requests by select creditors. The financial institution computer generates prioritized payments from the first account to select creditors, responsive to one or more unfilled pre-authorized payment requests by the select creditors and then generates a sweep payment from the first account to an associated second account at a second financial institution, responsive to the incoming automatic deposit. A value for the sweep payment is a value of the automatic deposit minus a value of the one or more prioritized payments. The second account can be, for example, a demand deposit account or a prepaid card account.

Claims

1. A system for providing prioritize payments directly from each of plurality of automatic deposits prior to being made available to one or more enrollees enrolled for prioritize payments, the system comprising:

a first computer being associated with a financial institution to thereby define a financial institution computer, the financial institution computer being configured to control a plurality of intermediary accounts with the financial institution, receive a plurality of electronic deposits from a plurality of depository institution computers through an automated clearing house network to define a plurality of automatic deposits, and to communicate with a plurality of second computers associated with a plurality of prepaid card processors to thereby define a plurality of prepaid card processor computers each being configured to control access to a plurality of prepaid card user accounts; and

non-transitory computer memory encoded with computer program operable on the financial institution computer to perform a process of providing prioritize payments to one or more select creditors from the 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;

creating one or more of the plurality of intermediary accounts for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts being inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees, debits from funds received by one or more of the intermediary accounts being controlled by the financial institution;

identifying one or more of the plurality of enrollees with one or more account identifiers listed in one or more received incoming ACH files, the one or more incoming ACH file being received from one or more of the plurality of depository institution computers and associated with one or more of the plurality of automatic deposits;

determining, responsive to identifying the one or more of the plurality of enrollees with the one or more account identifiers, a value of one or more unfilled pre-authorized payment requests associated with the one or more of the plurality of enrollees with the one or more account identifiers to define one or more prioritize payments, the one or more unfilled pre-authorized requests being made by one or more select creditors,

generating the one or more prioritize payments from one or more of the plurality intermediary accounts with the one or more account identifiers to the one or more select creditors responsive to determining the value of the one or more prioritize payments, the one or more prioritize payments being directly deducted from the one or more of the plurality of automatic deposits, and

generating a payment from the one or more of the plurality intermediary accounts to one or more of the plurality of prepaid card user accounts for the benefit of the one or more of the plurality of enrollees, a value of the payment being a value of the one or more of the plurality of automatic deposits less the value of the one or more prioritize payments to thereby define the one or more sweep payments, the one or more of the plurality of enrollees only having access to one or more of the plurality of the automatic deposits less the one or more prioritize payments.

2. A system as defined in claim 1, wherein one or more of the unfilled payment requests are initiated in response to a query from the financial institution computer responsive to the financial institution computer identifying the one or more of the plurality of enrollees with the one or more account identifiers;

and wherein the one or more sweep payments are generated within twenty-four hours of receiving the incoming ACH file.

3. A system as defined in claim 2, wherein each of the plurality of prepaid card user accounts are associated with a prepaid card, wherein the one or more sweep payments are define as the value of the one or more of the plurality of automatic deposits less the value of the one or more prioritize payments and less any fees for providing the prioritize payments, and wherein the generating the one or more prioritize payments to the one or more select creditors step further includes the value of the one or more prioritize payments comprises a first value for a first time period and a second value different than the first value for a second time period different from the first time period.

4. A system as defined in claim 1, wherein the one or more of the plurality of automatic deposits includes one or more of the following:

an employer-initiated direct deposit of payroll;

a government-initiated electronic transfer of benefits payment; and

a bank-initiated payment to a merchant for credit card sales, and

wherein the one or more prioritize payments are customer-initiated payments, including one or more of the following;

a gift card purchase, a remittance to family located outside of a country where an account holder is located, and a bill payment to a third-party.

5. Non-transitory computer memory encoded with computer program on a first computer being associated with a financial institution to thereby define a financial institution computer configured to control access to a plurality of intermediary accounts associated with the financial institution, receive a plurality of electronic deposits from a plurality of depository institution computers through an automated clearing house network to define a plurality of automatic deposits, and to communicate with a plurality of second computers associated with a plurality of prepaid card processors to thereby define a plurality of prepaid card processor computers each being configured to control access to a plurality of prepaid card user accounts, the computer program operable to provide prioritize payments directly from one or more of the plurality of automatic deposits prior to being made available to one or more enrollees enrolled for prioritize payments and comprising a set of instructions that when executed by the financial institution computer cause the financial institution computer to perform the operations of:

creating one or more of a plurality of intermediary accounts for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts being inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees, debits from funds received by one or more of the intermediary accounts being controlled by the financial institution;

identifying one or more of the plurality of enrollees with one or more account identifiers listed in one or more received incoming ACH files, the one or more incoming ACH file being received from one or more of the plurality of depository institution computers and associated with one or more of a plurality of automatic deposits;

determining, responsive to identifying the one or more of the plurality of enrollees with the one or more account identifiers, a value of one or more unfilled pre-authorized payment requests associated with the one or more of the plurality of enrollees with the one or more account identifiers to define one or more prioritize payments, the one or more unfilled pre-authorized requests being made by one or more select creditors,

generating the one or more prioritize payments from one or more of the plurality intermediary accounts with the one or more account identifiers to the one or more select creditors responsive to determining the value of the one or more prioritize payments, the one or more prioritize payments being directly deducted from the one or more of the plurality of automatic deposits, and

generating a payment from the one or more of the plurality intermediary accounts to one or more of the plurality of prepaid card user accounts for the benefit of the one or more of the plurality of enrollees, a value of the payment being a value of the one or more of the plurality of automatic deposits less the value of the one or more prioritize payments to thereby define one or more sweep payments, the one or more of the plurality of enrollees only having access to one or more of the plurality of the automatic deposits less the one or more prioritize payments.

6. Non-transitory computer medium as defined in claim 5, wherein one or more of the unfilled payment requests are initiated in response to a query from the financial institution computer responsive to the financial institution computer identifying the one or more of the plurality of enrollees with the one or more account identifiers.

7. Non-transitory computer medium as defined in claim 6, wherein each of the plurality of prepaid card user accounts are associated with a prepaid card, wherein the sweep payment is define as the value of the automatic deposit less the value of the one or more prioritize payments and less any fees for providing the prioritize payments, and wherein the generating the one or more prioritize payments to the one or more select creditors step further includes the value of the one or more prioritize payments comprises a first value for a first time period and a second value different than the first value for a second time period different from the first time period.

8. Non-transitory computer medium as defined in claim 5,

wherein the one or more of the plurality of automatic deposits includes one or more of the following:

an employer-initiated direct deposit of payroll;

a government-initiated electronic transfer of benefits payment; and

a bank-initiated payment to a merchant for credit card sales, and

wherein the one or more prioritize payments are customer-initiated payments, including one or more of the following;

a gift card purchase, a remittance to family located outside of a country where an account holder is located, and a bill payment to a third-party.

9. Non-transitory computer medium as defined in claim 5, wherein enrollment for prioritize payments are required as a condition of a loan, wherein accounts for the one or more select creditors are remote from the financial institution computer and the plurality of the prepaid card processors, and

wherein the computer program causes the financial institution computer to perform the operation of:

deducting a fee from the one or more sweep payments.

10. Non-transitory computer medium as defined in claim 5, wherein the computer program causes the financial institution computer to perform the operation of:

generating fees for the financial institution for the one or more prioritize payments to the one or more select creditors; and

wherein the one or more sweep payments are generated within twenty-four hours of receiving the incoming ACH file.

11. Non-transitory computer medium as defined in claim 5, wherein the financial institution is a federally-chartered bank subject to federal banking laws and regulations and not subject to state banking laws and regulations.

12. A computer-implemented method to be performed by a first computer being associated with a first financial institution to thereby define a first financial institution computer configured to control access to a plurality of intermediary accounts associated with the financial institution, receive a plurality of electronic deposits from a plurality of depository institution computers through an automated clearing house network to define a plurality of automatic deposits, and 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 each being configured to control access to a plurality of customer user accounts, the computer-implemented method to perform a process of providing prioritize payments directly from one or more of the plurality of automatic deposits prior to being made available to one or more enrollees enrolled for prioritize payments, the method comprising:

creating, by a computer associated with a first financial institution to define a first financial institution computer, one or more of a plurality of intermediary accounts for each of a plurality of enrollees enrolled in prioritize payments with the financial institution, each of the intermediary accounts being inaccessible by the plurality of enrollees and adapted to receive funds for a benefit of one or more of the plurality of enrollees, debits from funds received by one or more of the intermediary accounts are controlled by the financial institution;

identifying, by the first financial institution computer, one or more of the plurality of enrollees with one or more account identifiers listed in one or more received incoming ACH files, the one or more incoming ACH file being received from one or more of the plurality of depository institution computers and associated with one or more of a plurality of automatic deposits;

determining, by the financial institution computer responsive to identifying the one or more of the plurality of enrollees with the one or more account identifiers, a value of one or more unfilled pre-authorized payment requests associated with the one or more of the plurality of enrollees with the one or more account identifiers to define one or more prioritize payments, the one or more unfilled pre-authorized requests being made by one or more select creditors,

generating, by the financial institution computer, the one or more prioritize payments from one or more of the plurality intermediary accounts with the one or more account identifiers to the one or more select creditors responsive to determining the value of the one or more prioritize payments, the one or more prioritize payments being directly deducted from the one or more of the plurality of automatic deposits, and

generating, by the first financial institution computer, a payment from the one or more of the plurality intermediary accounts to one or more of the plurality of prepaid card user accounts for the benefit of the one or more of the plurality of enrollees, a value of the payment being a value of the one or more of the plurality of automatic deposits less the value of the one or more prioritize payments to thereby define one or more sweep payments, the one or more of the plurality of enrollees only having access to one or more of the plurality of the automatic deposits less the one or more prioritize payments.

13. A computer-implemented method as defined in claim 12, wherein one or more of the unfilled payment requests are initiated in response to a query from the first financial institution computer responsive to the first financial institution computer identifying the one or more of the plurality of enrollees associated with the one or more account identifiers.

14. A computer-implemented method as defined in claim 13, wherein each of the plurality of customer user accounts are demand accounts and are associated with a debit card, wherein the sweep payment is define as the value of the automatic deposit less the value of the one or more prioritize payments and less any fees for providing the prioritize payments, and wherein the generating the one or more prioritize payments to the one or more select creditors step further includes the value of the one or more prioritize payments comprises a first value for a first time period and a second value different than the first value for a second time period different from the first time period.

15. A computer-implemented method as defined in claim 12,

wherein the one or more of the plurality of automatic deposits includes one or more of the following:

an employer-initiated direct deposit of payroll;

a government-initiated electronic transfer of benefits payment; and

a bank-initiated payment to a merchant for credit card sales, and

wherein the one or more prioritize payments are customer-initiated payments, including one or more of the following;

a gift card purchase, a remittance to family located outside of a country where an account holder is located, and a bill payment to a third-party.

16. A computer-implemented method as defined in claim 12, wherein enrollment for the prioritize payment is required as a condition of a loan, wherein accounts for the one or more select creditors are remote from the first financial institution computer and a plurality of the second financial institution computers associated with the plurality customer user accounts, and

wherein the method further comprising:

deducting a fee from the one or more prioritize payments.

17. A computer-implemented method as defined in claim 12, the method comprising:

generating fees for the first financial institution for prioritize payments to the one or more select creditors; and

wherein the one or more sweep payments are generated within twenty-four hours of receiving the incoming ACH file.

18. A computer-implemented method as defined in claim 12, wherein the first financial institution is a federally-chartered bank subject to federal banking laws and regulations and not subject to state banking laws and regulations.

19. A computer-implemented method as defined in claim 12, wherein each of the plurality of customer user accounts are prepaid card accounts and are associated with a prepaid card, wherein the one or more sweep payments are define as the value of the automatic deposit less the value of the one or more prioritize payments and less any fees for providing the prioritize payments.

20. A computer-implemented method as defined in claim 19, wherein one or more of the unfilled payment requests are initiated in response to a query from the first financial institution computer responsive to the first financial institution computer identifying the one or more of the plurality of enrollees associated with the one or more account identifiers.