Method and system for performing monetary transactions from multiple source accounts

US8190518B2 · kind B2 · utility

Assignee

• Pitney Bowes Inc. · US

Inventors

• Darryl T. Rathbun · Stratford, US
• Alexandra Mack · Monroe, US

Key dates

• Filing date: Dec 18, 2006
• Grant date: May 29, 2012
• Expiry date: Apr 29, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and system for performing monetary transactions across multiple source accounts. The method includes the steps of: determining whether a multi-source transaction is desired or required to complete a monetary transaction; selecting the specific source accounts to be accessed and debited to perform the monetary transaction; determining the amount of funds to be withdrawn from each of the source accounts; and communicating with the source accounts to (i) access the funds and (ii) determine whether adequate funds exist in each of the source accounts to perform the monetary transaction. When summed, the funds accessed from the multi-source accounts equal the total required to perform the monetary transaction. The final steps for completing the monetary transaction include approving the monetary transaction and transferring funds from the multiple source accounts to a single destination account. The funds may be drawn from the source accounts in accordance with a predetermined percentage defined by the holder/owner of the source accounts or based upon a specific input made by the holder/owner at the time of the monetary transaction. The system employs a communication link and pr…