Patents Assigned to Metabank
  • Patent number: 10068208
    Abstract: Embodiments of the present invention include transfer account systems, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing ACH file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a prepaid card account so that a customer has effective access on the prepaid card only to a net value of funds.
    Type: Grant
    Filed: March 1, 2013
    Date of Patent: September 4, 2018
    Assignee: METABANK
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 9990612
    Abstract: Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data.
    Type: Grant
    Filed: November 4, 2013
    Date of Patent: June 5, 2018
    Assignee: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 9785922
    Abstract: Machine, methods, and computer program encoded on non-transitory memory for facilitating electronic inventory tracking and management of products through messaging over an existing financial services payment network are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased. The computer can also include, for example, electronic inventory management computer program configured to perform various operations including generating product identifiers, forming product look up tables to correlate the identifiers with the products, and providing inventory data to product providers.
    Type: Grant
    Filed: April 19, 2012
    Date of Patent: October 10, 2017
    Assignee: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 9767451
    Abstract: Embodiments of systems, computer program product, and related computer implemented methods to issue a closed-loop retail prepaid card including a user-designed external face using a chit, the chit being defined by an identification mechanism representing a financial commitment to issue a closed-loop retail prepaid card in an amount associated with a value paid for the chit, are provided. Embodiments of the present invention advantageously provide a service that enables a consumer to purchase, at the storefront of a retail establishment, a chit card that the consumer can subsequently redeem through a graphical user interface of an Internet website for a closed-loop retail prepaid card with a user-designed external face. The user-designed closed-loop retail prepaid card, for example, can be subsequently printed and delivered to an intended recipient. Advantageously, such a service can be made available to any retail establishment that uses a point-of-sale system.
    Type: Grant
    Filed: July 12, 2013
    Date of Patent: September 19, 2017
    Assignee: METABANK
    Inventor: Jason Brooks
  • Patent number: 9665855
    Abstract: Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data.
    Type: Grant
    Filed: November 4, 2013
    Date of Patent: May 30, 2017
    Assignee: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 9508067
    Abstract: Systems, program product, apparatus and method for transmitting and processing the sale of a transaction card product over an existing payment network using partial authorization messaging, are provided. An example of such a system can include a merchant POS apparatus equipped to support partial authorization messaging, a transaction card issuer server in communication therewith, and a transaction card product. The transaction card product can include a conventional transaction card securely wrapped within a tamper evident container that can carry its own magnetic strip. The container magnetic strip can store an assigned unique card identifier linked to, but different from, the card identifier normally associated with the card. The container card identifier stored in the container magnetic strip is compatible with the merchant POS card reader and is usable to activate the card without the merchant or consumer having access to the card, the card identifier, or the card magnetic strip.
    Type: Grant
    Filed: March 25, 2013
    Date of Patent: November 29, 2016
    Assignee: Metabank
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 9251511
    Abstract: Embodiments of the present invention include transfer account systems, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing ACH file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a checking, deposit, savings, money market, or other account as understood by those skilled in the art, so that a customer has effective access through the customer account only to a net value of funds.
    Type: Grant
    Filed: October 8, 2013
    Date of Patent: February 2, 2016
    Assignee: METABANK
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 9213965
    Abstract: Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data.
    Type: Grant
    Filed: November 25, 2009
    Date of Patent: December 15, 2015
    Assignee: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 8818887
    Abstract: Embodiments of the present invention include methods, program product and systems for card and bank product management. An embodiment of a method of advancing funds to a banking customer, for example, includes establishing a line of credit with a bank through an on-line access interface with the bank, determining whether access to funds through the line of credit should occur for a customer transaction and providing one or more preselected increments of funds for the customer transaction. A cumulative amount of the one or more preselected increments, for example, can be less than a total available line of credit for a customer having an established line of credit with the bank. The method further includes decrementing the total available line of credit by the cumulative amount of the one or more preselected increments provided for the customer transaction and a predetermined fee amount for each preselected increment of funds.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: August 26, 2014
    Assignee: Metabank
    Inventors: Rebecca Ahlers, Eric Miller, Scott Galit, Trent Sorbe, Troy Larson
  • Publication number: 20140229366
    Abstract: A consumer is prequalified for a line of credit attached to a checking account by a lending institution computer responsive to consumer underwriting data. The lending institution computer makes available draws to the line of credit line in an authorization stream for a proposed payment from the checking account. When the line of credit is accessed, the checking account is credited with an additional value equal to one or more preselected loan increments so that the account then has a new amount totaling a previous amount plus the amount of value of the one or more preselected loan increments and so that the new amount exceeds or equals the value of a proposed payment. Next, a new value for the line of credit balance available is determined, accounting for value credited to the checking account and a preselected loan advance fee for each loan increment credited to the account.
    Type: Application
    Filed: April 22, 2014
    Publication date: August 14, 2014
    Applicant: METABANK
    Inventors: Rebecca Ahlers, Andrew Crowe, Scott Galit, Trent Sorbe
  • Patent number: 8788414
    Abstract: A financial institution computer maintains one or more lists of account identifiers for accounts enrolled in a prioritized payment program and receives an automatic deposit associated with an account identifier for a first account enrolled in the prioritized payment program. The prioritized payment program includes pre-authorization of certain payment requests by select creditors. The financial institution computer generates prioritized payments from the first account to select creditors, responsive to one or more unfilled pre-authorized payment requests by the select creditors and then generates a sweep payment from the first account to an associated second account at a second financial institution, responsive to the incoming automatic deposit. A value for the sweep payment is a value of the automatic deposit minus a value of the one or more prioritized payments. The second account can be, for example, a demand deposit account or a prepaid card account.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: July 22, 2014
    Assignee: Metabank
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 8744915
    Abstract: A consumer is prequalified for a line of credit attached to a checking account by a lending institution computer responsive to consumer underwriting data. The lending institution computer makes available draws to the line of credit line in an authorization stream for a proposed payment from the checking account. When the line of credit is accessed, the checking account is credited with an additional value equal to one or more preselected loan increments so that the account then has a new amount totaling a previous amount plus the amount of value of the one or more preselected loan increments and so that the new amount exceeds or equals the value of a proposed payment. Next, a new value for the line of credit balance available is determined, accounting for value credited to the checking account and a preselected loan advance fee for each loan increment credited to the account.
    Type: Grant
    Filed: September 8, 2010
    Date of Patent: June 3, 2014
    Assignee: Metabank
    Inventors: Rebecca Ahlers, Andrew B Crowe, Scott H Galit, Trent Sorbe
  • Patent number: 8738451
    Abstract: A consumer is prequalified for a line of credit attached to a checking account by a lending institution computer responsive to consumer underwriting data. The lending institution computer makes available draws to the line of credit line in an authorization stream for a proposed payment from the checking account. When the line of credit is accessed, the checking account is credited with an additional value equal to one or more preselected loan increments so that the account then has a new amount totaling a previous amount plus the amount of value of the one or more preselected loan increments and so that the new amount exceeds or equals the value of a proposed payment. Next a new value for the line of credit balance available is determined, accounting for value credited to the checking account and a preselected loan advance fee for each loan increment credited to the account.
    Type: Grant
    Filed: April 2, 2009
    Date of Patent: May 27, 2014
    Assignee: Metabank
    Inventors: Rebecca Ahlers, Andrew B. Crowe, Scott H. Galit, Trent Sorbe
  • Publication number: 20140067627
    Abstract: Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data.
    Type: Application
    Filed: November 4, 2013
    Publication date: March 6, 2014
    Applicant: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Publication number: 20140067681
    Abstract: Machine, methods, and program product for facilitating electronic inventory tracking and management of products through messaging over a payment network, are provided. An example includes an inventory management computer in communication with a merchant POS apparatus or terminal over an existing financial services payment network and configured to receive and process purchase transaction data associated with a product being purchased, for use by a product provider. The computer can include electronic inventory management program product configured to perform various operations including receiving a purchase transaction message sent through the payment network, storing purchase transaction data, and notifying a product provider of the purchase transaction data.
    Type: Application
    Filed: November 4, 2013
    Publication date: March 6, 2014
    Applicant: METABANK
    Inventors: Jason Brooks, Mike Wells
  • Patent number: 8666886
    Abstract: A consumer is prequalified for a line of credit attached to a checking account by a lending institution computer responsive to consumer underwriting data. The lending institution computer makes available draws to the line of credit line in an authorization stream for a proposed payment from the checking account. When the line of credit is accessed, the checking account is credited with an additional value equal to one or more preselected loan increments so that the account then has a new amount totaling a previous amount plus the amount of value of the one or more preselected loan increments and so that the new amount exceeds or equals the value of a proposed payment. Next, a new value for the line of credit balance available is determined, accounting for value credited to the checking account and a preselected loan advance fee for each loan increment credited to the account.
    Type: Grant
    Filed: December 21, 2012
    Date of Patent: March 4, 2014
    Assignee: Metabank
    Inventors: Rebecca Ahlers, Andrew B. Crowe, Scott H. Galit, Trent Sorbe
  • Publication number: 20140052625
    Abstract: Embodiments of the present invention include transfer account systems, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing ACH file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a checking, deposit, savings, money market, or other account as understood by those skilled in the art, so that a customer has effective access through the customer account only to a net value of funds.
    Type: Application
    Filed: October 8, 2013
    Publication date: February 20, 2014
    Applicant: MetaBank
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 8589295
    Abstract: A financial institution computer maintains a list of account identifiers for accounts enrolled in a prioritized payment program including pre-authorization of certain payment requests by select creditors. The computer estimates a value of prioritized payments and authorizes a sweep payment to the customer account from a stand-in account at a payroll processor, so that the estimated value is held back in the stand-in account. The financial institution computer then receives an incoming ACH file, including an automatic deposit destined for the customer account. The computer generates an outgoing ACH file with both an entry for an automatic deposit destined for the customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited and relatively instantaneously any prioritized payment is debited from the customer account. The customer account can be, for example, a demand deposit account or a prepaid card account.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: November 19, 2013
    Assignee: Metabank
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 8583515
    Abstract: Embodiments of the present invention include transfer account systems, computer program products, and associated computer-implemented methods of providing prioritized payments from the proceeds of automatic or direct deposits. Embodiments of the present invention include routing automatic deposit information to a financial institution computer managing a prioritized payment program and formulating an outgoing ACH file with both an entry for an automatic deposit destined for a customer account and an entry for a pre-authorized prioritized payment to a select creditor, so that the automatic deposit is credited to the customer account and relatively instantaneously any prioritized payment is debited from the customer account. According to embodiments of the present invention, the customer account can be a checking, deposit, savings, money market, or other account as understood by those skilled in the art, so that a customer has effective access through the customer account only to a net value of funds.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: November 12, 2013
    Assignee: Metabank
    Inventors: Trent Sorbe, Troy Larson
  • Patent number: 8538879
    Abstract: Embodiments of the present invention provide systems, program products, and methods of loading a loan on a pre-paid card. A bank receives authorization from a lender to credit loan proceeds from the lender to an approved borrower on an existing pre-paid card associated with the pre-paid card processor. Next, the bank credits the loan proceeds to the pre-paid card processor for the existing pre-paid card so that the loan proceeds are released to the approved borrower and are immediately available.
    Type: Grant
    Filed: May 13, 2009
    Date of Patent: September 17, 2013
    Assignee: Metabank
    Inventors: Scott H. Galit, Trent Sorbe