Patents by Inventor Scott Galit

Scott Galit has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Publication number: 20150019403
    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: Application
    Filed: July 14, 2013
    Publication date: January 15, 2015
    Inventors: Scott Galit, Trent Sorbe
  • Publication number: 20140324675
    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: Application
    Filed: July 8, 2014
    Publication date: October 30, 2014
    Inventors: Rebecca Ahlers, Eric Miller, Scott Galit, Trent Sorbe, Troy Larson
  • 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: 8386375
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Grant
    Filed: February 24, 2012
    Date of Patent: February 26, 2013
    Assignee: Metabank
    Inventor: Scott Galit
  • Patent number: 8306912
    Abstract: Embodiments of the present invention provide a private label promotion card as a bank product, being issued and managed by the bank and using an open payment network for purchase authorization and payments. A bank computer processes activation information for a promotion card and receives finds into an account at the bank on behalf of a retailer for payment for the promotion card, perhaps at a discount to a customer value of the promotion card. The bank computer authorizes purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network and transfers funds to the open payment network to satisfy the authorized consumer purchase. Upon expiration, the bank computer sweeps the account of the remaining value for expired promotion cards to thereby establish a credit for the bank.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: November 6, 2012
    Assignee: Metabank
    Inventor: Scott Galit
  • Publication number: 20120278151
    Abstract: The present invention provides an intelligent discount card system for integrating with an existing bank payment network to provide for ubiquitous acceptance offered by a bank payment network while offering a real-time point of sale transaction experience, real-time discounting and financial settlement benefits typically only available through proprietary connections to retailers.
    Type: Application
    Filed: October 25, 2011
    Publication date: November 1, 2012
    Inventor: Scott Galit
  • Patent number: 8290853
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Grant
    Filed: September 14, 2011
    Date of Patent: October 16, 2012
    Assignee: Metabank
    Inventor: Scott Galit
  • Patent number: 8266047
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Grant
    Filed: February 24, 2012
    Date of Patent: September 11, 2012
    Assignee: Metabank
    Inventor: Scott Galit
  • Publication number: 20120209731
    Abstract: A fund transmittal system includes a first agent portal module for receiving funds from a first entity to initiate a first fund transaction. The system includes a transaction network and a transaction processor. The first agent portal module routes the first fund transaction to the transaction processor via the transaction network. The transaction processor supplies an authorization code associated with the first fund transaction to the first entity. The first entity provides the authorization code to a second entity. The system includes a second agent portal module that receives the authorization code from the second entity to initiate a second fund transaction. The second agent portal module routes the authorization code to the transaction processor via the transaction network. The transaction processor approves the second fund transaction in accordance with the authorization code. Upon approval, the second agent portal module supplies the funds to the second entity.
    Type: Application
    Filed: November 14, 2011
    Publication date: August 16, 2012
    Inventors: MICK CONLIN, BRADLEY C. HANSON, SCOTT GALIT
  • Patent number: 8244611
    Abstract: Embodiments of the present invention provide a private label promotion card as a bank product, being issued and managed by the bank and using an open payment network for purchase authorization and payments. A bank computer processes activation information for a promotion card. The bank computer then authorizes purchase requests to use one or more activated promotion cards as payment for a consumer purchase from the retailer via an open payment network and transfers funds to the open payment network to satisfy the authorized consumer purchase. Next, the bank computer receives funds on behalf of the retailer for payment responsive to consumer purchases using the one or more promotion cards as payment and payment for a value remaining on the one or more promotion cards responsive to an expiration of the one or more promotion cards, perhaps at a discount to a customer value of the promotion card.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: August 14, 2012
    Assignee: Metabank
    Inventor: Scott Galit
  • Publication number: 20120158570
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Application
    Filed: February 24, 2012
    Publication date: June 21, 2012
    Applicant: METABANK D/B/A META PAYMENT SYSTEMS
    Inventor: Scott Galit
  • Publication number: 20120150719
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Application
    Filed: February 24, 2012
    Publication date: June 14, 2012
    Applicant: METABANK D/B/A META PAYMENT SYSTEMS
    Inventor: Scott Galit
  • Publication number: 20120109816
    Abstract: Managing access to a line of credit, for example, can include a financial institution computer determining eligibility for a line of credit program responsive to a consumers prior enrollment in a prepaid card program and one or more of the following: the consumer's historical direct deposit data, and data associated with the consumer's historical behavior in the prepaid card program. The financial institution computer can extend an amount of available credit to the consumer through the line of credit program so that a consumer credit limit is capped through underwriting criteria to ensure that no more than a predetermined percentage of a consumer's historic direct deposit amount is required for minimum repayments. The financial institution computer can further receive loan repayments over one or more predetermined direct deposit periods and change the consumer credit limit by preselected increments responsive to a change in the consumer's direct deposit amount.
    Type: Application
    Filed: January 12, 2012
    Publication date: May 3, 2012
    Applicant: Metabank
    Inventors: Scott Galit, Trent Sorbe
  • Publication number: 20120109820
    Abstract: A computer configured and programmed as a financial institution computer, method, and system to schedule and obtain loan repayments from a customer, including flexible loan repayment mechanisms and schedules corresponding to expected deposit dates, e.g., multiple paydays. The computer can determine a repayment schedule for one or more loans responsive to an electronic loan request by the customer, direct deposit data for the customer, and preselected loan product parameters. The computer can monitor an account for an expected direct deposit from a first time prior to an expectation date of the expected direct deposit and up to a second time after the expectation date for the expected direct deposit to thereby define a time period around the expected direct deposit. The computer can obtain one or more repayments responsive to a receipt of the expected direct deposit, the expected direct deposit being one of a predetermined hierarchy of deposit sources.
    Type: Application
    Filed: November 2, 2011
    Publication date: May 3, 2012
    Inventors: Scott Galit, Trent Sorbe
  • Patent number: 8108279
    Abstract: Managing access to a line of credit, for example, can include a financial institution computer determining eligibility for a line of credit program responsive to a consumer's prior enrollment in a prepaid card program and one or more of the following: the consumer's historical direct deposit data, and data associated with the consumer's historical behavior in the prepaid card program. The financial institution computer can extend an amount of available credit to the consumer through the line of credit program so that a consumer credit limit is capped through underwriting criteria to ensure that no more than a predetermined percentage of a consumer's historic direct deposit amount is required for minimum repayments. The financial institution computer can farther receive loan repayments over one or more predetermined direct deposit periods and change the consumer credit limit by preselected increments responsive to a change in the consumer's direct deposit amount.
    Type: Grant
    Filed: December 18, 2008
    Date of Patent: January 31, 2012
    Assignee: Metabank
    Inventors: Scott Galit, Trent Sorbe
  • Publication number: 20120005095
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency funds including both principal and accrued interest.
    Type: Application
    Filed: September 14, 2011
    Publication date: January 5, 2012
    Applicant: Metabank d/b/a Meta Payment Systems
    Inventor: Scott Galit
  • Patent number: 8024242
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency finds including both principal and accrued interest.
    Type: Grant
    Filed: September 4, 2009
    Date of Patent: September 20, 2011
    Assignee: Metabank
    Inventor: Scott Galit
  • Publication number: 20110082737
    Abstract: Machines, computer program products, and computer-implemented methods to manage and control a loyalty rewards network and to provide customer loyalty rewards to a customer for purchasing goods or services. Computer program product can determine if a customer is one of the plurality of member customers enrolled in the loyalty rewards network. If the customer is not a member, the computer program product can enroll the customer in the loyalty rewards network. As a purchase are made by member customers thereafter, the member customer swipes or otherwise enters a loyalty reward card number and the computer accumulates and stores loyalty rewards network data representative of the member customer's purchasing behavior. Upon accumulating sufficient loyalty rewards pursuant to collection parameters, the member customers can select one or more of the available loyalty reward actions and the computer program product can implement the selected one or more loyalty rewards action.
    Type: Application
    Filed: September 28, 2010
    Publication date: April 7, 2011
    Inventors: Andrew B. Crowe, Scott Galit
  • Publication number: 20100057607
    Abstract: Systems, program product, and methods for securing or procuring destination currency funds for a traveler to be used for travel in a destination country commencing at a scheduled future travel date, are provided. A system can include a domestic financial institution server including foreign destination currency transaction account program product. The system provides for establishing an interest-bearing foreign destination currency transaction account having a user-selected maturity date coinciding with a preselected travel date, and near, but prior to the preselected travel date, providing to the traveler a travel debit card having access to the balance of foreign destination currency finds including both principal and accrued interest.
    Type: Application
    Filed: September 4, 2009
    Publication date: March 4, 2010
    Inventor: Scott Galit