Creation and distribution of excess funds, deposits, and payments
US7502758B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Sep 12, 2001 |
| Grant date | Mar 10, 2009 |
| Priority date | — |
| Expiry date | May 12, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Accumulating credits from financial movements to and from accounts held by a financial transactor and managed by an account manager involves initiating a roundup by periodically accessing entries in the account with an information processor to round up entries in the account, rounding up the entries in the account to obtain a total roundup amount, withdrawing the roundup amount from the account and debiting the account with the roundup amount. In one embodiment the information processor is external to and out of control of the account manager. At non-bank and bank locations send deposits and payments, in cash and/or checks, to financial institutions by using a remote input to truncate the paper checks and the cash used in the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.