US 12,175,489 B2
Enhanced automatic savings program
Faith A. Tucker, Wichita, KS (US); and Portia Sherman Mackinnon, Charlotte, NC (US)
Assigned to Bank of America Corporation, Charlotte, NC (US)
Filed by Bank of America Corporation, Charlotte, NC (US)
Filed on Apr. 25, 2022, as Appl. No. 17/728,194.
Application 17/728,194 is a continuation of application No. 16/571,510, filed on Sep. 16, 2019, granted, now 11,348,133.
Application 16/571,510 is a continuation of application No. 14/551,930, filed on Nov. 24, 2014, abandoned.
Application 14/551,930 is a continuation of application No. 12/368,034, filed on Feb. 9, 2009, abandoned.
Claims priority of provisional application 61/027,397, filed on Feb. 8, 2008.
Prior Publication US 2022/0253883 A1, Aug. 11, 2022
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 30/02 (2023.01); G06Q 30/0207 (2023.01); G06Q 40/06 (2012.01)
CPC G06Q 30/0215 (2013.01) [G06Q 40/06 (2013.01)] 12 Claims
OG exemplary drawing
 
1. A system for providing rewards amounts comprising:
a point-of-sale device comprising a barcode reader configured to read barcodes on products of a merchant;
a computer system of a financial institution comprising a processor for executing computer executable instructions stored in a memory, where the computer system is configured to manage a checking account associated with a customer capable of executing debit transactions and an outstanding debt associated with the customer;
a communication interface adapted to receive financial transaction information over a communication network, wherein the financial transaction information is associated with the barcodes on the products of the merchant; and
the computer-executable instructions for performing steps comprising:
(a) receiving, through the communication interface, information relating to a first base financial transaction associated with the checking account;
(b) if the checking account has sufficient funds to cover the first base financial transaction, debiting the checking account by amount of the first base financial transaction;
(c) receiving, through the communication interface, information relating to a second base financial transaction associated with the checking account;
(d) if the checking account has sufficient funds to cover the second base financial transaction, debiting the checking account by amount of the second base financial transaction;
(e) periodically calculating using the processor an aggregate savings amount based at least on the first and the second base financial transactions;
(f) determining if the checking account has sufficient funds to cover the aggregate savings amount;
(g) if sufficient funds are available to cover the aggregate savings amount, debiting the aggregate savings amount from the checking account and crediting, using a credit generating system in communication with the computer system, the aggregate savings amount against the outstanding debt; and
(h) if insufficient funds are available to cover the aggregate savings amount, bypassing the debiting of the aggregate savings amount from the checking account and the crediting of the aggregate savings amount, while still having performed at least one of the steps (b) and (d);
(i) calculating a number of the first base financial transaction and the second base financial transaction for products between the customer and a designated merchant;
(j) periodically calculating a rewards amount based on the calculated number from step (i);
(k) updating the rewards amount by increasing the rewards amount when the number of the first and the second base financial transactions between the customer and the designated merchant exceeds a predetermined value, and where the designated merchant is one of a predetermined plurality of merchants that credit a reward to the customer; and
(l) crediting the updated rewards amount in the checking account;
wherein a computational load on the point-of-sale device is reduced because the calculating of the rewards amount is distributed to the computer system.