U.S. Bank National Association

Valerie Felice Cameo

Mark Dickelman

Victoria Ann Vogt

Todd Clarke Moning

Jeffrey D Phillips

Various aspects relate to systems, methods or devices for processing overdrafts made by customers. A particular embodiment is directed towards a system that is configured to receive transaction data from customer-oriented terminals. The transaction data includes requests for monetary transfers on behalf of customers that hold a checking or savings account at a financial institution. In response to receiving the transaction data, the system accesses customer account information, which can include the amount of funds in the checking or savings accounts. The system determines whether sufficient funds exist in the accounts to cover the financial transactions. In response to a potential overdraft of one or more customer accounts, stored customer information is accessed to determine and authorize overdraft deferment eligibility of the customer based upon the stored customer information. The system defers an overdraft fee by providing a grace period during which funds can be transferred to cover the overdraft.

Overdraft protection and forgiveness

A computer-based automated savings method includes storing in a memory circuit, for each customer, customer profile data that identifies an account for accumulating automated savings, that identifies customer-specified types of financial transactions for automated savings participation, and that identifies a customer-specified saving algorithm for each of the different types of financial transactions. Notification data is received that is indicative of one of the customers having actively engaged in one of the types of financial transactions for automated savings participation. The customer's profile data in the memory circuit is accessed, the type of financial transaction being engaged in by the customer is compared with the customer-specified types of financial transactions, and therefrom it is determined whether the type of financial transaction qualifies for automated savings participation. The method further includes based upon the comparison, selecting a customer-specified saving algorithm as specified for the type of financial transaction, accessing and implementing the customer-specified saving algorithm for the financial transaction for which notification data has been received and, therefrom, increasing the amount of savings in the account for accumulating automated savings.

Methods and devices for savings participation

Various aspects relate to systems, methods or devices for processing overdrafts made by customers. A particular embodiment is directed toward a system that is configured to receive transaction data from customer-oriented terminals. The transaction data includes requests for monetary transfers on behalf of customers that hold a checking or savings account at a financial institution. In response to receiving the transaction data, the system accesses customer account information, which can include the amount of funds in the checking or savings accounts. The system determines whether sufficient funds exist in the accounts to cover the financial transactions. In response to a potential overdraft of one or more customer accounts, stored customer information is accessed to determine and authorize overdraft deferment eligibility of the customer based upon the stored customer information. The system defers an overdraft fee by providing a grace period during which funds can be transferred to cover the overdraft.

Flexible account management for customer transactions and overdrafts

Various aspects relate to systems, methods or devices for processing overdrafts made by customers. A particular embodiment is directed towards, a system that is configured to receive transaction data from customer-oriented terminals. The transaction data includes requests for monetary transfers on behalf of customers that hold a checking or savings account at a financial institution. In response to receiving the transaction data, the system accesses customer account information, which can include the amount of funds in the checking or savings accounts. The system determines whether sufficient funds exist in the accounts to cover the financial transactions. In response to a potential overdraft of one or more customer accounts, stored customer information is accessed to determine and authorize overdraft deferment eligibility of the customer based upon the stored customer information. The system defers an overdraft fee by providing a grace period during which funds can be transferred to cover the overdraft.

Growing community of inventors

Chicago, IL, United States of America

Valerie Felice Cameo