Middle class america card

• US 8,875,998 B2
• Filed: 03/14/2013
• Issued: 11/04/2014
• Est. Priority Date: 07/23/2012
• Status: Active Grant

• Current Assignee: Sherry Brennan
• Original Assignee: Sherry Brennan
• Inventors: Brennan, Sherry
• Primary Examiner(s): VO, TUYEN KIM
• Application Number:
  US13/830,582
• Publication Number:
  US 20140021252A1
• Time in Patent Office: 600 Days
• Field of Search: 235/379, 235/380, 235/449, 235/451, 235/492, 235/493, 235/375, 235/383
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A debit card with automatic savings is disclosed. The card allows a user, such as the holder of the debit card, to automatically save a specified amount of money each time a transaction is conducted with the debit card, or according to another desired condition, such as once per week. When the card is used for a transaction, the specified amount of money is deducted from the available balance of the card and is added to one or more savings accounts maintained on the card. The debit card includes at least a microprocessor or microcontroller and sufficient memory for storing balances on the card, including the balance available for spending and a total for each savings account. The user may change the amounts desired for savings and may transfer the amount “saved” to the available balance when the user wishes to redeem the savings for desired goods or services.

Claims

1. An electronic card for saving money, comprising:

a debit card having an interface for electronic transaction devices;

a processor 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 at least one memory; and

wherein the computer program cooperates with the processor and the at least one memory to accomplish the following steps;

i. maintain an overall balance of the debit card;

ii. maintain an available balance of the debit card;

iii. maintain a balance on the debit card for at least one savings account;

iv. each time a purchasing transaction is accomplished with the debit card, subtract an amount from the available balance and add the amount to the at least one savings account; and

v. accept changes to the computer program to change the amount,

wherein the overall balance of the debit card comprises the available balance and a balance of the at least one savings account.

2. The electronic card according to claim 1, wherein the debit card further comprises at least one interface for an electronic terminal.

3. The electronic card according to claim 2, wherein the at least one interface is selected from the group consisting of an EMV chip, a magnetic strip and an RFID interface.

4. The electronic card according to claim 1, wherein the debit card further comprises at least one display for a user of the card.

5. The electronic card according to claim 1, further comprising a plurality of function keys operably connected to the processor.

6. The electronic card according to claim 1, further comprising a plurality of numeric keys operably connected to the processor.

7. The electronic card according to claim 1, further comprising a display screen, wherein the display screen moves out of the electronic card for display and enters the electronic card for storage.

8. The electronic card according to claim 1, further comprising a transparent protective cover atop the card.

9. The electronic card according to claim 8, wherein the transparent protective cover comprises chemically-strengthened glass having inherent compressive stress.

10. A machine readable medium, the machine readable medium having non-transitory program instructions comprising a computer program stored thereon for saving money using a debit card, the program instructions comprising the steps of:

accepting an available balance on the debit card;

storing the available balance in at least one memory of the debit card, the debit card also including a microprocessor;

storing a balance for at least one savings account in the at least one memory of the debit card;

storing at least one rule for subtracting an amount from the available balance and adding the amount to the at least one savings account;

subtracting an amount from the available balance and adding the amount to the at least one savings account when a condition of the at least one rule is fulfilled; and

maintaining the available balance and a balance for the at least one savings account,

wherein the computer program cooperates with the microprocessor and the at least one memory to accomplish the following steps;

i. store an overall balance;

ii. store the available balance;

iii. store the balance of the at least one savings account;

iv. when the condition of the at least one rule is fulfilled, subtract the amount from the available balance and add the amount to the at least one savings account; and

v. accept changes to the computer program to change the amount,

wherein the overall balance of the debit card comprises the available balance and the balance in the at least one savings account.

11. The machine readable medium according to claim 10, wherein the non-transitory program instructions further include accepting changes to the rules and storing the changes to the rules.

12. The machine readable medium of claim 10, wherein the non-transitory program instructions further include instructions for allowing changes to the at least one rule through inputs from the debit card and from remote programming through a computer.

13. The machine readable medium of claim 10, wherein the non-transitory program instructions further comprise code for sending at least one of the balances to a screen for viewing by a user.

14. The machine readable medium of claim 10, wherein the at least one rule is selected from the group consisting of:

each time the debit card is used for a purchasing transaction;

once per period of time; and

when a deposit over a set amount is added to the debit card.

15. A method of saving money, comprising:

depositing an available balance on a debit card;

maintaining an overall balance on the debit card;

starting at least one savings account on the debit card, the at least one savings account comprising money;

specifying at least one rule for adding money to the at least one savings account while subtracting money from the available balance, on the debit card; and

automatically adding an amount of money to the at least one savings account and subtracting the amount of money from the available balance according to the at least one rule, on the debit card;

wherein the overall balance on the debit card comprises a sum of the available balance and the money in the at least one savings account.

16. The method of claim 15, wherein the at least one rule is selected from the group consisting of:

each time the debit card is used for a purchasing transaction;

once per period of time; and

when a deposit over a set amount is added to the debit card.

17. The method of claim 15, wherein the at least one savings account is an account for a particular purpose.

18. The method of claim 15, wherein the at least one rule comprises that when a transaction is accomplished, a specified amount of money is subtracted from the available balance on the debit card and added to the at least one savings account on the debit card.

19. The method of claim 15, further comprising changing the at least one rule for adding money to the at least one savings account on the debit card.

20. The method of claim 15, wherein the at least one savings account on the debit card comprises two savings accounts on the debit card, and wherein the rules are different for the two savings accounts.