Importance

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Abstract

A method, system, and program product for managing funds for a plurality of client accounts at a first banking institution, the system comprising: one or more electronic databases, comprising: (i) client account information; (ii) aggregated transaction account information for a plurality of FDIC-insured and interest-bearing aggregated deposit accounts held in a plurality of banks in a program including the first banking institution; and (iii) subaccount information; and one or more computers configured for (a) accessing the electronic database and administering clients' deposits and withdrawals from the client accounts, comprising processing transaction data for more than six (6) withdrawals and/or transfers from each of at least two of the client accounts; (b) determining, whether the balance of funds for the respective client in the aggregated deposit account at the first bank equals or exceeds a specified amount, and if not, then designating the first bank to receive the deposit, and if it does, determining another bank in the program and designating the deposit for the other bank.

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First Claim