Automatic Savings Program
AssigneeBank of America Corporation
InventorsDaniel A. Carretta, Thomas M. Hancock, Karen K. Lewy, Charles R. Liu, Jack Meyers, Sheryl W. Strott, Faith A. Tucker, Carrie A. Williams
Life of this patent
Estimating the term…
Abstract
A computer implemented method of processing a financial transaction executed by first person includes determining an automatic savings amount from the financial transaction by rounding up the amount of the financial transaction to the nearest dollar. The method further includes debiting the calculated savings amount from an account of the first person and crediting the savings amount to an account of a second person.
Claims21
A method of processing a first financial transaction of a first person comprising:
- determining a savings amount based on at least the first financial transaction;
- debiting the savings amount from a source account of the first person;
- and
- crediting at least a part of the savings amount to a first recipient account of a second person.
A method of automatic savings comprising:
- executing a financial transaction for a first account;
- calculating a savings amount based on the financial transaction;
- debiting the savings amount from the first account;
- crediting a first portion of the savings amount to a second account;
- and
- crediting a second portion of the savings amount to a third account.
A computer readable medium having instructions stored thereon that, when executed by a processor, cause the processor to:
- determine a savings amount based on at least a first financial transaction;
- debit the savings amount from a source account of a first person;
- and
- credit at least a part of the savings amount to a first recipient account of a second person.
Dependencies are inferred from the claim text.