Method for transferring funds

  • US 8,751,392 B1
  • Filed: 02/28/2014
  • Issued: 06/10/2014
  • Est. Priority Date: 03/13/2008
  • Status: Active Grant
First Claim
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1. A method comprising:

  • receiving a registration of a payee account at a service provider, the payee account being associated with a payee;

    receiving, from a payor comprising an individual, an identification of the payee and a spending category, the payee account being registered with the service provider prior to the receiving;

    transmitting, via a processor of a computing device, a notice to the payee, wherein the notice is linked to the payee account to yield a profile associated with the spending category and the payee account;

    monitoring, via a processor of a computing device and according to the profile, purchasing transactions made using the payee account for a qualified purchase; and

    based on the qualified purchase, transferring, via a processor of a computing device, an amount of money to pay for at least part of the qualified purchase.

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