Multi-use electronic card balance reader

• US 8,870,065 B2
• Filed: 03/16/2011
• Issued: 10/28/2014
• Est. Priority Date: 03/16/2010
• Status: Active Grant

• Current Assignee: Sherry Brennan
• Original Assignee: Sherry Brennan
• Inventors: Brennan, Sherry
• Primary Examiner(s): JOHNSON, SONJI N
• Application Number:
  US13/049,479
• Publication Number:
  US 20110226852A1
• Time in Patent Office: 1,322 Days
• Field of Search: 235/375, 235/379, 235/492, 235/380, 235/487, 705/40, 705/41, 705/68
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/4033 Local solvency checks
• CPC Class Codes: G07F 7/0826 Embedded security module
• CPC Class Codes: G07F 7/0873 Details of the card reader
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

Devices for receiving a smart card, such as a debit card, and reading the card are disclosed. These devices allow a user, such as the holder of the smart card, to determine a balance available to the holder of the card or an account associated with the holder or the card. The portable card balance reader includes at least a microprocessor or microcontroller and sufficient memory for storing balances from the card and for performing calculations to alert a card holder that he or she may be spending an amount that is greater than an available amount from the account of the card holder. The portable card balance reader does not require connection to an external computer or the Internet. Information concerning balances for the account is input from the card itself, from the user, or from both the user and the card itself.

Claims

1. A method for providing balances for an account accessed by an electronic card, the method comprising:

accessing the account with an electronic card;

reading the electronic card with a portable card balance reader, the portable card balance reader having dimensions suitable to fit in a pocket of a user, the portable card balance reader also comprising function keys allowing the user to enter commands to the portable card balance reader;

recording a ledger balance of the account in a local memory of the card balance reader, wherein a ledger balance of the account is an amount of deposited funds of the user less any amount on hold by one or more creditors;

recording an available funds balance of the account in the local memory of the card balance reader, wherein the available funds balance is an amount of deposited funds of the user less any amount withheld by a financial institution awaiting clearance;

providing at least one display on the card balance reader for displaying at least one of the ledger balance and the available funds balance;

calculating with the card balance reader a minimum balance by comparing the ledger balance and the available funds balance, and

determining the minimum balance; and

comparing the minimum balance with an amount of a desired expenditure.

2. The method of claim 1, further comprising recording a check register balance of the account in the local memory of the card balance reader, wherein the check register balance is an amount that would be in an account of the user if the user were recording each completed transaction without regard to holds or other temporary variances,

wherein the step of providing comprises providing at least one display for displaying at least one of the ledger balance, the available funds balance and the check register balance, and wherein the step of calculating comprises calculating with the card balance reader a minimum balance by comparing the ledger balance, the available funds balance and the check register balance.

3. The method of claim 1, further comprising recording in the local memory a cushion amount for the account.

4. The method of claim 1 further comprising:

recording in the local memory the cushion amount for the account; and

determining the minimum balance by adding the cushion amount to the lowest balance.

5. The method of claim 4, further comprising sending a signal or displaying an alert if the desired expenditure is greater than the minimum balance.

6. The method of claim 1, further comprising summoning at least one help screen by pressing a button of the portable card balance reader.

7. The method of claim 1, wherein the step of reading is accomplished with the portable card balance reader not connected to an Internet or an external computer terminal.

8. A method for providing balances for an account accessed by a smart card, the method comprising:

accessing the account at a financial institution with the smart card;

reading the smart card with a portable card balance reader, the portable card balance reader having dimensions suitable to fit in a pocket of a user, the dimensions about the size of the smart card, the portable card balance reader also comprising function keys allowing the user to enter commands to the portable card balance reader;

recording a check register balance of the account in a local memory of the portable card balance reader, wherein the check register balance is an amount that would be in an account of the user if the user were recording each completed transaction without regard to holds or other temporary variances;

recording a ledger balance of the account in a local memory of the portable card balance reader, wherein a ledger balance of the account is an amount of deposited funds of the user less any amount on hold by one or more creditors;

recording an available funds balance of the account in a local memory of the portable card balance reader, wherein the available funds balance is an amount of deposited funds of the user less any amount withheld by the financial institution awaiting clearance;

providing at least one display on the portable card balance reader for displaying at least one of a cushion amount, the check register balance, the ledger balance and the available funds balance;

calculating with the portable card balance reader a minimum balance by comparing the check register balance, the ledger balance and the available funds balance and determining the minimum balance;

comparing the minimum balance with an amount of a desired expenditure, using the portable card balance reader; and

displaying an alert if the desired expenditure is greater than the minimum balance.

9. The method of claim 8, further comprising allowing the portable card balance reader to access information on the electronic card by providing an access code to the portable card balance reader, wherein the portable card balance reader is not in communication with the financial institution.

10. A portable card balance reader for an account at a financial institution accessed by an electronic card, comprising:

a housing;

an interface for the electronic card mounted to the housing;

a microprocessor operably connected to the interface and having at least one memory sufficient for storing data and a computer software program, the microprocessor suitable for manipulating data in the memory;

a manual entry device for entering data into the at least one memory; and

at least one display, the at least one display operably connected to the microprocessor and the at least one memory, the at least one display for displaying a cushion amount, a ledger balance, an available funds balance, and a check register balance,

wherein the card balance reader is sized to fit in a pocket of a user and is operable to record the ledger balance, the available funds balance, and the check register balance, and to compare the ledger balance, the available funds balance and the check register balance, to determine a real-time, actual balance; and

wherein the ledger balance of the account is an amount of deposited funds of the user less any amount on hold by one or more creditors, the available funds balance is an amount of the deposited funds of the user less any amount withheld by the financial institution awaiting clearance, and the check register balance is an amount that would be in an account of the user if the user were recording each completed transaction without regard to holds or other temporary variances.

11. The portable card balance reader of claim 10, wherein the interface for the electronic card comprises a contact pad, a magnetic strip reader or an RFID antenna.

12. The portable card balance reader of claim 10, further comprising at least one alarm operably connected to the computer, the at least one alarm selected from the group consisting of a red light, a flashing light and a speaker.

13. The portable card balance reader of claim 10, wherein the manual entry device comprises a key pad operably connected to the microprocessor and the memory.

14. The portable card balance reader of claim 10, further comprising an additional display operably connected to the microprocessor for displaying at least one of the cushion amount, the check register balance, the ledger balance and the available funds balance.

15. The portable card balance reader of claim 10, further comprising a date/time display operably connected to the microprocessor.

16. The portable card balance reader of claim 10, further comprising an interface suitable for an Internet or a computer.

17. A portable card balance reader for an account of a user at a financial institution accessed by an electronic card, comprising:

a housing;

an interface for the electronic card, wherein the portable card balance reader has no interface suitable for directly accessing an Internet or a computer;

a microprocessor operably connected to the interface and having at least one memory sufficient for storing data and a computer software program, the processor suitable for manipulating data in the memory;

a key pad for entering data into the at least one memory; and

at least one numeric display operably connected to the microprocessor and the at least one memory for displaying a cushion amount, a check register balance, a ledger balance and an available funds balance,

wherein the portable card balance reader is sized to fit in a pocket of the user and has length and width dimensions about the size of the electronic card,

wherein the ledger balance of the account is an amount of deposited funds of the user less any amount on hold by one or more creditors, the available funds balance is an amount of deposited funds of the user less any amount withheld by the financial institution awaiting clearance, and the check register balance is an amount that would be in the account of the user if the user were recording each completed transaction without regard to holds or other temporary variances,

wherein the card balance reader is operable to record the check register balance, the ledger balance and the available funds balance, to compare the check register balance, the ledger balance and the available funds balance, to determine a minimum balance comprising the lowest balance of the check register balance, the ledger balance and the available funds balance, and to display an alert if an amount of a contemplated purchase exceeds the minimum balance.

18. The portable card balance reader of claim 17, wherein the at least one numeric display comprises three numeric displays.

19. The portable card balance reader of claim 17, further comprising a calculator and a calculator screen operably connected to the microprocessor and the key pad.

20. The portable card balance reader of claim 17, wherein the portable card balance reader further comprises function keys allowing the user to enter commands to the portable card balance reader.