Patent ID: 8548886
Filing Date: 2013-10-01
Classification: G06Q

Abstract:
1. A system for opening an interest bearing account for a customer, said account opening system comprising: a customer information system comprising computer executable instructions embodied on a computer readable medium and executed by at least one computer processor and configured to prompt and record entry of customer information; an account information system comprising computer executable instructions embodied on a computer readable medium and executed by the at least one computer processor and configured to prompt and record a rate lock code, a term and a deposit amount for a respective account type; a rate decision system comprising computer executable instructions embodied on a computer readable medium and executed by the at least one computer processor and using the rate lock code, term, deposit amount and account type as criteria to query at least one available electronic rate table in order to automatically determine an interest rate for the interest bearing account, the interest rate is determined from the at least one available electronic rate table that is available between the application date and the receipt date; and an account activation system comprising computer executable instructions embodied on a computer readable medium and executed by the at least one computer processor and configured to receive the deposit amount submitted by the customer, and activate the interest bearing account and crediting the deposit amount at the interest rate.