The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 01, 2011
Filed:
Jul. 23, 2010
Mark P. Jacobsen, Arlington, VA (US);
Mark P. Jacobsen, Arlington, VA (US);
Promontory Interfinancial Network, LLC, Arlington, VA (US);
Abstract
An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of unaffiliated banks from their respective depositors. The method is operated by an entity that processes the large deposits using a processor. The processor receives orders sent from the plurality of banks to process large deposits. Each of the large deposits are partitioned using the processor into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits to at least some of the unaffiliated banks other than the bank that received the large deposit for deposit therein. The processor receives a fee from each of the banks that sent an order and credits the fee to the entity that processes the large deposits.