Exceeded account threshold service involving exceeded account threshold magnetic stripe

US9047640B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Tamara S. Kingston · Peoria, US
• Willard Andrew Barr · Charlotte, US
• Doris Maria Garrett · Walnut Creek, US
• Mark Allan Nelson · Waxhaw, US
• Jonathan H. Tucker · Charlotte, US
• John Franklin Tuders · Harrisburg, US
• Elbert Lee Whitler · Webster Groves, US
• Paul Ronald DeKoster · Matthews, US

Key dates

• Filing date: Mar 15, 2013
• Grant date: Jun 2, 2015
• Expiry date: Dec 25, 2033

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In general terms, embodiments of the present invention relate to methods and apparatuses for providing an account exceeding available funds or credit service involving an account exceeding available funds or credit magnetic stripe. For example, in some embodiments, a method is provided that includes: (a) receiving transaction information associated with a transaction, where the transaction involves a transaction machine and an account, and where the account is associated with a credit/debit card; (b) determining, based at least partially on the transaction information, that the account will incur an account exceeding available funds or credit as a result of the transaction; (c) receiving account exceeding available funds or credit swipe information indicating that an account exceeding available funds or credit magnetic stripe of the credit/debit card was swiped at the transaction machine; and (d) authorizing the transaction based at least partially on receiving the account exceeding available funds or credit swipe information.