Automatic overdraft attached to prepaid debit card accounts
US8341076B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | May 25, 2005 |
| Grant date | Dec 25, 2012 |
| Priority date | — |
| Expiry date | Oct 8, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system for managing financial accounts includes one or more account holders. An account holder data structure is associated with one or more financial accounts. The financial accounts are defined to flexibly respond to the needs of the account holders. A balance is also associated with each of the one or more financial accounts, and an overdraft balance is associated with at least one of the one or more financial accounts. The balances, including the overdraft balance, are accessed through the accounts by one or more access methods, such as prepaid debit card or stored value financial cards. When a transaction initiated with an access method attempts to access an amount in a balance which exceeds the available amount of the balance, the access method accesses an amount in the overdraft balance through the overdraft account to complete the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.