Patent ID: 8027919
Filing Date: 2011-09-27
Classification: G06Q

Abstract:
1. A method for providing overdraft funds to at least one user, the method comprising the steps of: a) pre-authorizing a merchant for overdraft transactions; b) having the user conduct a purchase using a reloadable debit card issued by an entity; c) wherein when the debit card carries insufficient funds to cover the purchase, electronically overdrawing the debit card by an overdraft amount using a communication means, the overdraft amount being the difference between the cost of the purchase and the funds available in the debit card; d) the entity electronically depositing the overdraft amount in a secure account using the communication means; and, e) once the user provides to the entity a reimbursement corresponding to the overdraft amount or part thereof the reimbursement is paid to the merchant from the secure account.