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

Claim 17:
18. A method of transferring funds based on a predetermined amount set by the user comprising:
providing 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;
providing a processor that receives an access parameter from an input module from an entity authorized to provide the access parameter and executes an instruction based on a function authorized by an owner of the funds or 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 associated with each of the first payment channel and the second payment channel and being received from an entity including an owner of the information or one or more authorized surrogate, and
the access parameter configured to traverse a security system guarding the information in the first database;
providing an implementation module that automatically transfers funds through a card service;
providing an access module that accesses the first payment channel and processor and instructs the implementation module to transfer funds to the second payment channel,
and
transferring funds automatically from the first payment channel to the second payment channel through the communication module, reflecting the consent and knowledge of an owner of the information the authorized surrogate acting on behalf of or at the behest of the owner of the information, the funds implemented to perform an authorized function after the funds are transferred to the second payment channel,
allowing new or existing online bill payments to be converted to card transactions via single entry or mass conversion and
providing an input module, wherein the input module includes a device capable of receiving an access parameter for retrieval including a wired transmission, or wireless transmission and configured to receive the access parameter for retrieval, and
providing a filter module that filters data based on content by identifying 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 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.