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US 8,620,803 B1Granted
Systems and methods for customized electronic funds distribution
AssigneeUnited Services Automobile Association (USAA)
InventorsJeff Dennes, Randy Bear
Life of this patent
Estimating the term…
Abstract
Systems and methods for directing the transfer of funds are described. Funds to be distributed to a user are received by the system. User distribution preferences are read and the funds are distributed to various sources according to the preferences. Other embodiments are also described and claimed.
Claims21
A computer implemented method for effecting a distributed transfer of funds, the method comprising:
- using a processor in a system including at least one subsystem having a computing device with the processor and memory for storing executable instructions that are executable by the processor to perform:
- determining an allocation amount, wherein the allocation amount is based upon profits of a financial services company, types of accounts held by a user with the financial services company, and payments by the user to the financial services company for services;
- providing the allocation amount to a profit reallocation account with the financial services company held by the user;
- determining a percentage of distribution, wherein the percentage of distribution is based on a profit margin of the financial services company and a risk management calculation;
- applying the percentage of distribution to the reallocation account and determining a monetary allotment;
- receiving an instruction to distribute the monetary allotment to the user;
- receiving the user's distribution preference for distributing funds from the profit reallocation account, wherein the user's distribution preference governs the transfer of money out of the profit reallocation account;
- generating distribution instructions based on the monetary allotment and the user's distribution preference;
- and
- effecting a funds transfer according to the distribution instructions.
7 more elements
An apparatus for effecting a distributed transfer of funds, the apparatus comprising:
- a computing device with a processor and memory for storing executable instructions that are executable by the processor to:
- determine an allocation amount, wherein the allocation amount is based upon profits of a financial services company, types of accounts held by a user with the financial services company, and payments by the user to the financial services company for services;
- provide the allocation amount to a profit reallocation account with the financial services company held by the user;
- determine a percentage of distribution, wherein the percentage of distribution is based on a profit margin of the financial services company and a risk management calculation;
- apply the percentage of distribution to the reallocation account and determine a monetary allotment;
- receive an instruction to distribute the monetary allotment to the user;
- receive the user's distribution preference for distributing funds from the profit reallocation account, wherein the user's distribution preference governs the transfer of money out of the profit reallocation account
- generate distribution instructions based on the monetary allotment and the user's distribution preference;
- and
- effect a funds transfer according to the distribution instructions.
7 more elements
An article including a machine readable medium storing computer executable code, wherein the computer executable code instructs a machine to perform a method for effecting a distributed transfer of funds comprising:
- determining an allocation amount, wherein the allocation amount is based upon profits of a financial services company, types of accounts held by a user with the financial services company, and payments by the user to the financial services company for services;
- providing the allocation amount to a profit reallocation account with the financial services company held by the user;
- determining a percentage of distribution, wherein the percentage of distribution is based on a profit margin of the financial services company and a risk management calculation;
- applying the percentage of distribution to the reallocation account and determining a monetary allotment;
- receiving an instruction to distribute the monetary allotment to the user;
- receiving the user's distribution preference for distributing funds from the profit reallocation account, wherein the user's distribution preference governs the transfer of money out of the profit reallocation account;
- generating distribution instructions based on the monetary allotment and the user's distribution preference;
- and
- effecting a funds transfer according to the distribution instructions.
6 more elements
Dependencies are inferred from the claim text.