Transfer account systems, computer program products, and associated computer-implemented methods
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United States of America Patent
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Nov 19, 2013
Grant Date -
Jun 25, 2009
app pub date -
Dec 18, 2008
filing date -
Dec 21, 2007
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A financial institution computer maintains a list of account identifiers for accounts enrolled in a prioritized payment program including pre-authorization of certain payment requests by select creditors. The computer estimates a value of prioritized payments and authorizes a sweep payment to the customer account from a stand-in account at a payroll processor, so that the estimated value is held back in the stand-in account. The financial institution computer then receives an incoming ACH file, including an automatic deposit destined for the customer account. The computer generates an outgoing ACH file with both an entry for an automatic deposit destined for the customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited and relatively instantaneously any prioritized payment is debited from the customer account. The customer account can be, for example, a demand deposit account or a prepaid card account.
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