METHOD AND SYSTEM OF OFFERING AN ENVIRONMENTALLY SENSITIVE BANK ACCOUNT

• US 20110082733A1
• Filed: 12/15/2010
• Published: 04/07/2011
• Est. Priority Date: 10/10/2008
• Status: Abandoned Application

• Current Assignee: Citizens Financial Group, Inc. (Rhode Island) (Citizens Financial Group Incorporated)
• Original Assignee: Citizens Financial Group Incorporated
• Inventors: Goldman, Daniel
• Application Number:
  US12/969,040
• Publication Number:
  US 20110082733A1
• Time in Patent Office: Days
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method and system is provided whereby a customer either establishes a new account or converts their existing account into a program that maximizes the use of online bill payment, electronic statements and paperless charge transactions in exchange for reward payments. In accordance with the method and system, customers establishing or transferring to the program are provided with an electronic transaction card formed from 100% recycled plastic material, on-line banking and an electronic monthly statement thereby eliminating all of the paper associated with the management side of the account. Then customers who enroll receive an incentive for each and every payment or transaction that they complete without using paper.

Claims

1. A method of providing an environmentally friendly bank program comprising:

a bank service provider establishes a is fully paperless banking program, wherein customers participate in said program by using paperless transactional methods and designate at least one account that is linked thereto;

the bank service provider deposits into said at least one account an incentive based on tracking said paperless transactions;

segregating a portion of customer funds within said account equal to a percentage of said incentive.

2. The method of claim 1, wherein said percentage is 100%.

3. The method of claim 1, wherein said at least one account is one savings account and one checking account, said bank service provider depositing said incentive into said checking account, said customer funds being segregated within said checking account.

4. The method of claim 3, further comprising:

transferring said incentive and said segregated funds to said savings account.

5. The method of claim 1, further comprising:

accruing a matching transfer of bank provided funds equal to a percentage of said incentive, said matching transfer being periodically transferred to said at least one account.

6. The method of claim 5, wherein said bank provided funds percentage is 100%.

7. The method of claim 5, wherein said bank provided funds percentage is one value for an introductory period and a second value after said introductory period expires.

8. The method of claim 5, wherein said at least one account is one savings account and one checking account, said bank service provider depositing said incentive into said checking account, said customer funds being segregated within said checking account.

9. The method of claim 8, further comprising:

transferring said incentive and said segregated funds to said savings account; and

depositing said accrued matching transfer to said savings account.

10. The method of claim 1, further comprising:

accruing a matching transfer of bank provided funds equal to a percentage of said segregated portion of client funds for periodic transfer to said at least one account.

11. The method of claim 10, wherein said bank provided funds percentage is 100%.

12. The method of claim 10, wherein said bank provided funds percentage is one value for an introductory period and a second value after said introductory period expires.

13. The method of claim 10, wherein said at least one account is one savings account and one checking account, said bank service provider depositing said incentive into said checking account, said customer funds being segregated within said checking account.

14. The method of claim 13, further comprising:

transferring said incentive and said segregated funds to said savings account; and

depositing said accrued matching transfer to said savings account.

15. The method of claim 1, wherein said paperless transactional methods are selected from the group consisting of:

online bill payment, electronic statements and paperless charge transactions.

16. The method of claim 1, wherein said incentive is a monetary amount that is awarded for each paperless transaction.

17. The method of claim 1, wherein the incentive is aggregated and provided to the customer on a periodic basis.