Financial account management
AssigneeeCardWorld.com, LLC, a Massachusetts corporation
InventorAlfred Chi
Life of this patent
Estimating the term…
Abstract
A holder of a financial account predefines a virtual account associated with the financial account. The virtual account has an associated limitation on a payment to be made from the financial account. In connection with a transaction, information about the virtual account is provided to a third party. A third party uses the virtual account information to make a request for a payment. Any payment from the financial account that is outside of the limitation associated with the virtual account is prevented. Because only the virtual account information is made available to the third party the risk to the account is limited based on choices made in advance by the user.
Claims42
A method comprising
- enabling a holder of a financial account to predefine a virtual account associated with the financial account, the virtual account having an associated limitation on a payment to be made from the financial account,
- in connection with a transaction, providing information about the virtual account to a third party, and
- in response to a request made by the third party for payment using the virtual account information, preventing any payment from the financial account that is outside of the limitation associated with the virtual account.
A method comprising
- enabling a holder of a financial account to set two different arbitrary predefined limits on payments that are permissible to make from the financial account, each of the limits being associated with a context in which a transaction may occur, and
- blocking a payment from the financial account that would violate either of the different arbitrary predefined limits, depending on the context of the transaction in which the payment is to be made.
A method comprising
- maintaining a digitally stored user file for an individual who holds financial accounts, the user file identifying virtual accounts that set limits on permissible payments to be made from the financial account to specified receivers of the payments, and
- processing requests by possible receivers of payments from the financial accounts by blocking requests that violate the limits.
A storage medium bearing a program capable of configuring a machine to
- enable a holder of a financial account to predefine a virtual account associated with the financial account, the virtual account having an associated limitation on a payment to be made from the financial account,
- in connection with a transaction, provide information about the virtual account to a third party, and
- in response to a request made by the third party for payment using the virtual account information, prevent any payment from the financial account that is outside of the limitation associated with the virtual account.
A database of digitally stored information capable of enabling a machine to
- identify virtual account information associated with a financial account, and
- in response to a request made by a third party for payment using the virtual account information, identify limitations on payments from the financial account that are associated with the virtual account information.
A website that enables a user of a browser to
- register as a user of financial account management services, and
- manage virtual accounts associated with financial accounts, the virtual accounts defining limitations on payments that can be made from the financial accounts.
A method comprising
- a first party giving to a second party a file identifier identifying the first party's file with an intermediary party and a virtual account identifier identifying a virtual account maintained by the intermediary party on behalf of the first party, and
- blocking the second party from obtaining payment of funds from a financial account of the first party if the payment would violate limits defined in the virtual account.
A method comprising
- enabling a holder of a financial account to get access to a virtual account management system using a telephone, and
- after access is obtained, permitting the holder to manage a virtual account associated with the financial account using the telephone.
A method comprising
- in connection with a proposed financial transaction, determining whether the transaction conforms to predefined limitations of a virtual account associated with an active financial account that is a source of finds for the proposed financial transaction, and
- validating the proposed financial transaction only if the limitations are met.
Apparatus comprising
- a virtual financial account that is associated with an active financial account, the active financial account being a source of funds for financial transactions, the virtual financial account defining limitations on uses of funds in the active financial account that can be tested against characteristics of a proposed financial transaction to determine whether or not to validate the proposed financial transaction.
Dependencies are inferred from the claim text.