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:
Nov. 12, 2013
Filed:
Sep. 20, 2011
Bruce Bent, Manhasset, NY (US);
Bruce Bent, Ii, Manhasset, NY (US);
David Edgar Gareis, Maplewood, NJ (US);
Bruce Bent, Manhasset, NY (US);
Bruce Bent, II, Manhasset, NY (US);
David Edgar Gareis, Maplewood, NJ (US);
Island Intellectual Property LLC, Manhasset, NY (US);
Abstract
A method, system and program product, the method comprising: accessing, electronic databases, comprising: (i) aggregated account information for a plurality of government backed-insured and interest-bearing aggregated deposit accounts held in a plurality of program institutions; and (ii) source institution deposit information; obtaining transfer data, by a source institution; obtaining time dimension interest rate data, wherein the time dimension interest rate varies depending on how long the deposit has been held in one or more other of the recipient institutions participating in the program; allocating the deposit funds to one or more other of the recipient institutions; generating data for instructions to deposit/transfer funds and/or to withdraw/transfer funds; calculating a respective interest amount for funds of the respective source institutions, based on time dimension interest rate for the period of time; and generating data for allocating interest.