Abstract: A money management network including a money management network, a bank web site hosted by a bank, and a vendor web site hosted by a vendor. The bank web site is accessible by a bank/vendor customer. The vendor web site accessible by the bank/vendor customer. The bank web site has means for accepting authorization for a purchase transaction from the bank/vendor customer such that the authorization verifies the bank/vendor customer's identification for the vendor. In one preferred embodiment the vendor receives authorization for a purchase without the vendor receiving customer account information from the bank/vendor customer, the bank, or the money management network.
Abstract: Using a single source money management system customers may automate their committed spending. A money management account and a discretionary fund account are established in response to a customer's request to participate in the system. A financial institution receives money on a periodic basis from a customer's predictable payment system. The money is then deposited/transferred to the money management account, retained in the money management account as required for bill payment, and/or deposited/transferred into the discretionary fund account if it is “excess.” Bills are paid on a customer determined schedule directly from the money management account using the money retained in the money management account. A loan account may also be established in response to a customer's application for a loan account. A financial institution grants a loan for a loan purchase in response to a customer's application for a loan purchase.
Type:
Application
Filed:
November 3, 2003
Publication date:
June 10, 2004
Applicant:
Digital World Access, Inc.
Inventors:
Eric Stephen Saylors, Nicholas Anthony Lindsay Brown, Maurice John Boardman