Patent ID: 7219082
Filing Date: 2007-05-15
Classification: G06Q

Abstract:
1. A financial transaction network for facilitating direct management of financial assets for customers each having individual program accounts, comprising: means allowing a plurality of customers to access their individual program accounts, the individual program account being an account representing an array of accounts that have been individually selected by the customer from the totality of the accounts and including at least one stored value account for each customer (“SVA”, which is a non-bank account maintained by a merchant for the customer), and at least a bank demand deposit account, a host processor having a database for maintaining individual program account transactions and records, means for establishing and maintaining a plurality of customer individual program accounts and, means enabling a plurality of customers to individually utilize the value in the individual customer's stored value account and instruct the merchant to credit the customer's demand deposit account at a bank with funds from a merchant's demand deposit account.