Method and apparatus for implementing financial transactions
US7505937B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 25, 2007 |
| Grant date | Mar 17, 2009 |
| Priority date | — |
| Expiry date | Sep 29, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A withdrawal of assets is initiated from a first account at a first financial institution. A deposit of the assets withdrawn from the first account is initiated to a second account at a second financial institution. The first account and the second account have a common account holder. The withdrawal and deposit of assets may be initiated after analyzing multiple accounts of the account holder and determining whether an adjustment of funds among the multiple accounts would benefit the account holder. A debit instruction is used to initiate the withdrawal of assets and a credit instruction is used to initiate the deposit of the withdrawn assets. The withdrawal and deposit of assets can be implemented using one or more payment networks, debit networks, or a wire transfer between the two financial institutions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.