Patent ID: 8719157
Filing Date: 2014-05-06
Classification: G06Q

Abstract:
1. A method, comprising: (A) accessing, using one or more computers, one or more electronic databases, stored on one or more computers-readable media, the one or more databases comprising: (B) receiving or obtaining into the one or more computers via the Internet, transfer data comprising an amount of governmental funds for one or more of the client accounts of a first one of the financial institutions; (C) allocating at least a portion of the amount of governmental funds for the one or more of the client accounts of the first financial institution, using the one or more computers, to a first set of one or more of the financial institutions other than the first financial institution, comprising selecting one or more of the financial institutions for the first set based at least in part on accessing the data held in the one or more databases to determine that funds that are FDIC-insured have been received for the program on behalf of one or more of the client accounts of the respective financial institution; (D) allocating, using the one or more computers, to the first financial institution for the one or more aggregated deposit accounts held therein, an amount of funds that is FDIC-insured from a second set of one or more of the financial institutions other than the first financial institution, so that an amount of funds sourced from the second set of the financial institutions and held in the first financial institution is approximately equal to or greater than the amount of the governmental funds sourced from the first financial institution; (E) generating and communicating data comprising one or more amounts for one or more instructions, using the one or more computers and a network communication link, to transfer funds between or among two or more of the financial institutions based at least in part on the transfers to and/or from the respective one of more of the financial institutions set forth in the allocating steps; and (F) using the one or more computers to update the one or more databases, comprising updating for respective of the aggregated deposit accounts a balance of respective funds held in the respective aggregated deposit account, updating the data for each of the transfers, and updating the one or more respective balances of funds for one or more of the respective client accounts held in each of one or more of the aggregated deposit accounts holding funds of the respective client account based on the transfers to and/or from the respective one of more of the financial institutions set forth in the allocating steps and the data generated and communicated to transfer funds between or among two or more of the financial institutions.