BILL PAYMENT MANAGEMENT

• US 20100217706A1
• Filed: 04/27/2009
• Published: 08/26/2010
• Est. Priority Date: 02/23/2009
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Williams, Carrie Anne, Tucker, Faith A., Griffin, Maura L.
• Application Number:
  US12/430,379
• Publication Number:
  US 20100217706A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Methods, systems, and/or computer program products for bill payment management includes determining a periodic payment amount for a customer based on at least one bill of the customer. The periodic payments are periodically charged to the customer by an entity and the entity pays the bill(s) from an account.

Claims

1. A method for bill payment management, comprising:

determining a series of substantially equal payment amounts to charge a customer via a computer system based on a plurality of recurring bills of the customer;

periodically charging the customer the substantially equal payment amount; and

paying at least one of the recurring bills from an account on behalf of the customer.

2. The method of claim 1, wherein paying at least one of the recurring bills comprises automatically paying the at least one of the recurring bills each pay period by an entity other than the customer.

3. The method of claim 1, wherein the recurring bills are billed from at least one creditor and the payment amounts are charged to the customer from an entity different from the at least one creditor.

4. The method of claim 1, wherein the determining a series of substantially equal payment amounts comprises:

determining a bill payment term comprising a number of periods;

estimating a total amount which is to be charged to the customer for the bill payment term; and

calculating the substantially equal payment amounts by dividing the estimated total billed amount by the number of periods.

5. The method of claim 1, wherein the account comprises an account owned by the customer.

6. The method of claim 5, further comprising receiving authorization from the customer to automatically and periodically withdrawal funds from the account on behalf of the customer.

7. The method of claim 1, wherein the account comprises an account owned by an entity other than the customer.

8. The method of claim 7, wherein the periodically charging the customer the substantially equal payment amount comprises transferring funds from an account owned by the customer to the account owned by the entity other than the customer.

9. The method of claim 1,

wherein the periodically charging the customer the substantially equal payment amount comprises withdrawing funds from a first financial account;

and

wherein the paying at least one of the recurring bills from an account on behalf of the customer comprises paying the at least one of the recurring bills from a second financial account, the second financial account being different from the first financial account.

10. The method of claim 1, wherein a bank performs each of:

the determining a series of substantially equal payment amounts to charge a customer via a computer system based on a plurality of recurring bills of the customer;

the periodically charging the customer the substantially equal payment amount; and

the paying at least one of the recurring bills from an account on behalf of the customer.

11. The method of claim 1, wherein the paying the at least one of the recurring bills comprises automatically transferring funds from the account to the at least one creditor.

12. The method of claim 1, wherein the determining a series of substantially equal payment amounts occurs prior to charging the customer any of the payment amounts.

13. The method of claim 1, wherein the customer is charged the payment amount every period for a predefined number of periods.

14. The method of claim 13, wherein the period comprises one of a month, a day, a week, two weeks, cash flow pay period, and a year.

15. The method of claim 1, wherein the paying the at least one of the recurring bills from an account on behalf of the customer comprises automatically paying the recurring bills when each of the recurring bills comes due.

16. A method for bill payment management, comprising:

periodically charging payment amounts to a customer via a computer system based on a plurality of bills of the customer; and

paying at least one of the plurality of bills from an account on behalf of the customer by an entity other than the customer.

17. The method of claim 16, wherein the payment amounts comprise equal payment amounts periodically charged to the customer.

18. The method of claim 16, wherein the at least one of the plurality of bills comprises the at least one recurring bill.

19. The method of claim 18, further comprising receiving a selection from the customer of the recurring bills that are to be paid on behalf of the customer.

20. The method of claim 16, wherein the at least one of the plurality of bills comprises variable amounts that are billed to the customer every period.

21. The method of claim 16, further comprising depositing the periodic payment amounts charged to the customer into the account.

22. The method of claim 16, further comprising:

estimating a total amount which is to be charged to the customer for the bill payment term; and

calculating the payment amounts by dividing the estimated total billed amount by the number of periods.

23. A method implemented by a computer system for bill payment management, the method comprising:

determining via the computer system a plurality of periodic payments for the customer based upon a bills of a customer; and

paying via the computer system at least one of the bills from an account on behalf of the customer.

24. The method of claim 23, further comprising periodically charging the periodic payments to the customer, the amount of each of the periodic payments charged to the customer being equal for each period.

25. The method of claim 24,

wherein the periodically charging the customer the period payments comprises withdrawing funds from a first financial account;

and

wherein the paying at least one of the bills from an account on behalf of the customer comprises paying the at least one of the bills from a second financial account, the second financial account being different from the first financial account.

26. The method of claim 23, wherein a bank performs each of:

the determining a series of substantially equal payment amounts to charge a customer via a computer system based on a plurality of the bills of the customer; and

the paying at least one of the bills from an account on behalf of the customer.

27. An apparatus for bill payment management comprising:

a processor;

a module operable on the processor, the module configured to;

determine a periodic payment amount for a customer based on at least one recurring bill of the customer;

periodically charge the customer the payment amount; and

pay the at least one recurring bill from an account on behalf of the customer.

28. The apparatus of claim 27, wherein the determining the periodic payment amount comprises determining an equal payment amount to charge the customer every period and wherein the paying the at least one recurring bill comprises paying the at least one recurring bill when payment of the at least one recurring bill is due.

29. The apparatus of claim 27, wherein the module is further configured to:

estimate a total amount which is to be charged to the customer for the bill payment term; and

calculate the payment amounts by dividing the estimated total billed amount by the number of periods.

30. The apparatus of claim 27, wherein the paying the at least one recurring bill from an account on behalf of the customer comprises automatically paying the recurring bills when each of the recurring bills comes due.

31. The apparatus of claim 27,

wherein the periodically charging the customer the payment amount comprises withdrawing funds from a first financial account;

and

wherein the paying the at least one recurring bill from an account on behalf of the customer comprises paying the at least one recurring bill from a second financial account, the second financial account being different from the first financial account.

32. The apparatus of claim 27, wherein the module is operable to allow a bank to perform:

the determining a periodic payment amount for a customer based on at least one recurring bill of the customer;

the periodically charging the customer the payment amount; and

the paying the at least one recurring bill from an account on behalf of the customer.

33. A computer program product for bill payment management, the computer program product including a computer-readable medium having a computer program residing thereon, the computer program comprising:

instructions for determining a periodic payment amount for a customer based on at least one recurring bill of the customer;

instructions for periodically charging the customer the payment amount; and

instructions for paying the at least one recurring bill from an account on behalf of the customer.

34. The computer program product of claim 33, wherein the computer program further comprises:

instructions for estimating a total amount which is to be charged to the customer for the bill payment term; and

instructions for calculating the payment amounts by dividing the estimated total billed amount by the number of periods.

35. The computer program product of claim 33, wherein the instructions for paying the at least one recurring bill comprises instructions for automatically paying the recurring bills when each of the recurring bills comes due.

36. The computer program product of claim 33,

wherein the instructions for periodically charging the customer the payment amount comprises instructions for withdrawing funds from a first financial account;

and

wherein the instructions for paying at least one of the recurring bills from an account on behalf of the customer comprises instructions for paying the at least one of the recurring bills from a second financial account, the second financial account being different from the first financial account.