Patent ID: 8190517
Filing Date: 2012-05-29
Classification: G06Q

Abstract:
1. A method of facilitating a transfer of a predetermined amount of funds from line of credit transaction accounts to a deposit account via an automated clearing house comprising: receiving, by a computer based system for transferring funds, a request for a transfer of said predetermined amount of funds; identifying, by said computer based system, a first line of credit transaction account associated with a first institution; determining, by said computer based system, that said predetermined amount of funds exceeds a first line of credit limit of said first line of credit transaction account; identifying, by said computer based system, a second line of credit transaction account associated with a second institution, wherein said first institution and the second institution are different institutions; sending a first transaction request to an automated clearing house financial capture system configured to capture and process transaction details for a first portion of the predetermined amount of funds; sending a second transaction request to said automated clearing house financial capture system configured to capture and process transaction details for a second portion of said predetermined amount of funds, wherein the second portion corresponds to an amount of the predetermined amount which exceeds the first line of credit limit for the first line of credit transaction account; wherein the computer based system stores pre-selected stored rules that include a rule to allow the request for the transfer of the predetermined amount of funds in response to the second portion being within a predetermined threshold; determining, by the computer based system that the second portion is within the predetermined threshold, wherein the request for the transfer of the predetermined amount of funds is allowed in accordance with the rule; generating, by said computer based system, a transaction based upon said first transaction request and said second transaction request; transmitting, by said computer based system, said transaction to an originating depository financial institution for clearing; identifying, by said computer based system, said deposit account; debiting, by the computer based system, the second line of credit transaction account the second portion of said predetermined amount of funds; and crediting, by said computer based system, said deposit account said predetermined amount of funds.