Patent ID: 8260704
Filing Date: 2012-09-04
Classification: G06Q

Abstract:
1. A method for managing consumer transactional accounts, comprising: receiving consumer information by a first computer software application process executing on a financial institution database computer hardware device in connection with a request for a temporary transactional account for the consumer; approving the temporary transactional account for the consumer real time by a second computer software application process executing on a financial institution backend system computer hardware device; providing a non-physical temporary transactional account access device real time for the consumer by a third computer software application process executing on the financial institution backend system computer hardware device; accumulating consumer charges by a fourth computer software application process executing on the financial institution backend system computer hardware device incurred over a pre-determined period of time on the temporary transactional account using the non-physical temporary transactional account access device without sending an invoice to the consumer and without accruing interest on the temporary transactional account during the pre-determined period of time and thereafter sending an invoice to the consumer for the charges incurred on the transactional account during the pre-determined period of time and commencing accrual of interest on the accumulated charges upon expiry of the pre-determined period of time, wherein said pre-determined period of time is at least a plurality of months; and providing the consumer a plurality of options by a fifth computer software application process executing on the financial institution backend system computer hardware device for payment of the charges incurred on the temporary transactional account upon expiry of the predetermined period of time.