Patent ID: 8036986
Filing Date: 2011-10-11
Classification: G06Q

Abstract:
1. An automated method of processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured, the large deposits being received by a plurality of unaffiliated banks from their depositors, the method comprising for selected large deposits received at an unaffiliated bank: (a) retaining a first deposit portion of the large deposit that does not exceed the established deposit limit at the unaffiliated bank that received the large deposit; (b) receiving at a processor an order from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit; (c) partitioning, using the processor, each of the large deposits into a plurality of second deposit portions, each second deposit portion not exceeding the established deposit insurance limit; and (d) assigning by the processor at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein.