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:
Oct. 11, 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 by a plurality of unaffiliated banks from their depositors. For selected large deposits received at an unaffiliated bank, a first deposit portion that does not exceed the established deposit limit is retained at the unaffiliated bank that received the large deposit. An order is received from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit. The processor partitions each of the large deposits into a plurality of second deposit portions, each of which do not exceed the established deposit insurance limit. The processor then assigns at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein.