Patent ID: 7493282
Filing Date: 2009-02-17
Classification: G06Q

Abstract:
1. A method of managing bulk bank accounts associated with a plurality of real estate transactions, comprising: receiving from a real estate office instructions to open a set of new escrow accounts, close a first set of open escrow accounts, and update a second set of open escrow accounts, associated with real estate transactions for a plurality of clients of the real estate office, the instructions being received electronically, at a financial institution, together in a batch file; automatically populating a bank account management system, by the financial institution, with batch processing information provided in the instructions; automatically establishing the set of new escrow accounts consistent with the batch processing information; automatically closing the first set of open escrow accounts consistent with the batch processing information; automatically updating the second set of open escrow accounts consistent with the batch processing information; funding the set of new escrow accounts with funds from an operating account belonging to the real estate office; automatically causing checks to be cut, the checks being in an amount due to a client of the real estate office; and generating a batch status report and making the batch status report available to the real estate office directly.