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

Claim 24:
25. A method of transferring funds based on a predetermined amount set by the user comprising:
storing funds in at least one initial storage location;
providing a user or automated process with the option of automatic fund transfer from a first payment channel to a second payment channel;
providing a processor that receives an access parameter from an input module, 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 information or one or more authorized surrogate, the authorized surrogate acting on behalf of or at the behest of the owner of the information,, and
the access parameter that traverses a security system guarding the information in the first database;
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,
permissibly retrieving the funds from the initial storage location;
providing a filter module configured to filter 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;
separating an unwanted fund or data and blocking the unwanted fund or data from being transferred to the second payment channel such that only desired funds stored at the second payment channel;
determining which funds or data are associated with funds for safe transfer and encrypting the information associated with funds for safe transfer;
removing data that is unwanted and irrelevant to the authorized function;
supplying the funds to a separate account;
implementing the funds to perform an authorized function at the separate account; and
allowing new or existing online bill payments to be converted to card transactions via single entry or mass conversion.