Patent ID: 11861690
Assignee: REGIONS BANK
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A system for transferring funds based on a predetermined amount set by the user comprising:
a processor that directs a communication module that electronically provides a user or automated process with an option of setting up an automatic transfer of funds from a first payment channel to a second payment channel through at least one access parameter and executing an instruction based on a function authorized by an owner of the funds or information associated with the funds;
the access parameter comprising security data or user identification data that permits access to each of the first payment channel and the second payment channel, individually, and that locates information at a first database, wherein the information is stored electronically or magnetically on a medium capable of holding data including an optical storage medium, a magnetic storage medium, a temporary electronic storage medium, or microcircuitry;
the access parameter being received from an entity including the owner of the information or one or more authorized surrogate, and the access parameter that traverses a security system guarding the information in the first database, and
an implementation module that automatically transfers funds from a first payment channel to a second payment channel through the communication module, reflecting the consent and knowledge of the owner of the information the funds implemented to perform an authorized function after the funds are transferred to the second payment channel and that allows new or existing online bill payments to be converted to card transactions via single entry or mass conversion,
an access module that accesses the first payment channel and processor and instructs the implementation module to transfer funds to the second payment channel,
an input module, wherein the input module includes a device capable of receiving an access parameter for retrieval including wired transmission, or wireless transmission and receives the access parameter for retrieval, and
a filter module that filters data based on a predetermined amount set by the user by determining which funds or data are associated with funds for safe transfer, encrypting information associated with funds for safe transfer, removing data that is unwanted and irrelevant to the authorized function, the authorized function performed after the funds are transferred to the second payment channel based on a predetermined amount set by the user when security of funds is a concern, and blocking unwanted and irrelevant data from being transferred to the second payment channel.