Transfer account machine, non-transitory computer medium having computer program, and associated computer-implemented method
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United States of America Patent
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Jul 7, 2020
Grant Date -
Sep 25, 2014
app pub date -
Jun 9, 2014
filing date -
Dec 21, 2007
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Embodiments of the present invention include transfer account machines, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a prepaid card account so that a customer has effective access on the prepaid card only to a net value of funds.
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