Managing financial accounts associated with residents of controlled-environment facilities
US8498937B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 11, 2011 |
| Grant date | Jul 30, 2013 |
| Priority date | — |
| Expiry date | Apr 24, 2032 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods for managing financial accounts associated with residents of controlled-environment facilities are disclosed. In some embodiments, a method may include receiving information corresponding to a pooled account (e.g., a trust account, etc.) held by a financial institution (e.g., a bank), at least in part, for the benefit of residents (e.g., work-release inmates, etc.) of a controlled-environment facility (e.g., a jail, prison, etc.). The method may also include allocating funds within the pooled account to corresponding residents. The method may further include designating a first portion of the funds allocated to a given resident as inaccessible to the resident and designating a second portion of funds allocated to the given resident as accessible to the resident. A magnetic card, near-field communications (NFC) device, or the like may be associated with the accessible portion of a resident's funds and used to complete transactions inside and/or outside of the controlled-environment facility.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.