119 results about "Overdraft" patented technology

A method and program product for conducting business transactions and avoiding inadvertent overdrafts. First, the value of an intended purchase is estimated and an electronic receipt is generated for the estimate. An account identified for payment (e.g., a checking account or a credit card account) is analyzed for sufficient funds and, alerts may be provided whenever the analysis indicates that the account has insufficient funds. As a result of the alert, the purchase may be halted or another form of payment may be selected. Also, total in-store purchases may be estimated and other accounts may be analyzed to determine if, in addition to being overdrawn for the selected account, the transaction is over budget.

Facilitating commercial transactions using a payment system directory are disclosed. A payment directory and / or wireless point of sale (POS) device may be configured to use predetermined rules, a multitude of data items and / or conditions to locate a payment system, and transmit a payment authorization request from a remote location to at least one payment system, either directly, or via a payment system directory and / or a SSL Gateway.

An enrolling system verifies an enrollee, counter-offers a second transaction account in response to a decline of a first account, wherein the second transaction account includes more restrictions than a first transaction account, associates an enrollee's main and overdraft account, and issues a transaction account. Enrolling in the second transaction account may include enrolling in a second transaction account automatic payment program; and / or associating a demand deposit account to the second transaction account. The method may also include relaxing use restrictions of the transaction account based upon at least one of: receiving payment of a pre-selected amount, receiving payments over a pre-selected period, and receiving payment on or before a pre-selected date.

A system, method, and computer program product are used to issue and track debit cards. A system comprises an enrolling system that verifies an enrollee, associates an enrollee's main and overdraft account, and issues a debit card, an authentication system that receives information regarding a requested transaction of a debit card and that receives information regarding the main and overdraft account associated with the debit card and accepts or rejects the requested transaction based thereon, and a settlement system that generates a periodic report of at least one of the transactions, the main account, and the overdraft account. The overdraft account can be a charge or credit account.

A method for minimizing overdraft charge-off in a bank account includes:(a) identifying a plurality of factors that can result in a bank account charge-off;(b) building a case history database of bank account holder information based upon a plurality of data elements associated with each of the plurality of factors;(c) creating numeric and / or categorical representations of the bank account holder information for each of the bank accounts in the case history database;(d) tabulating the numeric and / or categorical representations and the data elements for the bank accounts in the case history database;(e) combining certain ones of the numeric and / or categorical representations to separate the bank accounts in the case history database into a plurality of risk groups, each risk group having an associated probability of charge-off; and(f) optimizing, for each of the plurality of risk groups, a bank profit, by setting overdraft limits.

In accordance with one or more embodiments, a method and system are provided for facilitating the output of an offer to an account holder of a financial account, which offer the account holder may accept via a check being presented by the account holder as payment for a transaction. For example, the account holder may alter an indicium on the check to indicate acceptance of the offer. An example of an offer is an offer to sell to the account holder transactional overdraft protection for the transaction for which a check is provided as payment. Another example of an offer to provide a benefit to the account holder in exchange for a commitment by the account holder to an obligation. Such an offer may be provided by, for example, a merchant different than the merchant at which the check is being provided as payment for a transaction. In one or more embodiments, the offer or an indication of the offer may be printed on the check or handwritten on the check.

A consumer-based bill management and payment system is configured to receive, analyze, manage and pay electronic billing statements received from the biller over the Internet. The system includes a notification manager that detects when the electronic bill arrives and notifies the consumer. The bill is stored in memory with other unpaid electronic bills. According to another aspect of the invention, the system has a cashflow analyzer that enables the consumer to coordinate the unpaid electronic bills according to different payment schedules for a bill payment cycle (e.g., a month). The goal of the manipulation is to permit the consumer to analyze how the different payment schedules affect the consumer's cashflow with an aim toward minimizing overdraft during the bill payment cycle. The cashflow analyzer can automatically compute an optimized payment schedule that minimizes overdraft of the consumer's account, while maximizing the balance to generate the most interest. When the consumer desires to pay a particular bill, the bill is presented to the consumer through a graphical user interface (UI). The bill management and payment system supports a payment analyzer to enable the consumer to determine how much of the electronic bill to pay. The payment analyzer provides a venue to challenge certain items on the bill.

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 an 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.