US Patent No: 8,015,084
Number of patents in Portfolio can not be more than 2000
System and method for linked account having sweep feature
Stats
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Sep 6, 2011
Issued date -
Sep 6, 2000
filing date -
09/655,886
serial no -
In Force
status
Importance
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Abstract
A linked account instrument is used to access funds in an existing demand deposit account held at a financial institution. Merchant or other transactions are first processed against a demand deposit account via an electronic authorization network. If the demand deposit account does not have sufficient funds, the transactions may be processed as a credit charge against a designated credit account. The demand deposit account may subsequently be swept at predetermined times in search of funds to defray the overdraft. If adequate funds are present, they will be withdrawn from the demand deposit account, and the credit account will be cleared. Otherwise, the instrument holder's daily purchasing abilities may be temporarily suspended until the credit account is settled. The processing of overdraft amounts may be on a FIFO, smallest-first or other basis.
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First Claim
Related Publications
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International Classification(s)
- [Classification Symbol]
- [Patents Count]
Cited Art
| Patent Info | (Count) | # Cites | Year |
|---|---|---|---|
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Patent Citation Ranking
Maintenance Fees
| Fee | Large entity fee | small entity fee | micro entity fee | due date |
|---|---|---|---|---|
| 3.5 Year Payment | $1600.00 | $800.00 | $400.00 | Mar 6, 2015 |
| 7.5 Year Payment | $3600.00 | $1800.00 | $900.00 | Mar 6, 2019 |
| 11.5 Year Payment | $7400.00 | $3700.00 | $1850.00 | Mar 6, 2023 |
| Fee | Large entity fee | small entity fee | micro entity fee |
|---|---|---|---|
| Surcharge - 3.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 7.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 11.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge after expiration - Late payment is unavoidable | $700.00 | $350.00 | $175.00 |
| Surcharge after expiration - Late payment is unintentional | $1,640.00 | $820.00 | $410.00 |