Patent ID: 7899745
Filing Date: 2011-03-01
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 from a plurality of unaffiliated banks from their respective depositors, wherein the method is operated by an entity that processes the large deposits using a processor, the method comprising for at least some of the large deposits: (a) receiving at the processor orders sent from the plurality of banks to process large deposits; (b) partitioning, using the processor, each of the large deposits into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; (c) assigning by the processor at least some of the deposit portions for each of the large deposits to at least some of the unaffiliated banks other than the bank that received the large deposit for deposit therein; and (d) receiving, using the processor, a fee from each of the banks that sent an order, the processor crediting the fee to the entity that processes the large deposits.