Patent ID: 8301530
Filing Date: 2012-10-30
Classification: G06Q

Abstract:
1. A method for saving money comprising: (a) receiving at a financial institution, directly from a point of sale device communicating over a network with the financial institution, information relating to at least one financial transaction associated with a checking account; (b) debiting, by a processor at the financial institution, the checking account based on the at least one financial transaction; (c) periodically calculating, by the processor, an aggregate savings amount based at least on a plurality of financial transactions, where the plurality of financial transactions includes the at least one financial transaction; (d) determining, by the processor, if the checking account has sufficient funds to cover the aggregate savings amount; (e) if sufficient funds are available to cover the aggregate savings amount, debiting, by the processor, the aggregate savings amount from the checking account and crediting the aggregate savings amount in a second account; (f) periodically calculating, by the processor, an additional amount; and (g) crediting, by the processor, the additional amount in the second account, where the additional amount is provided by the financial institution, and where the calculating the additional amount is for a fixed period of time.