Patent ID: 7376606
Filing Date: 2008-05-20
Classification: G06Q

Abstract:
1. A computer-implemented method of processing funds in amounts that are subject to an established deposit insurance limit so that the funds are eligible to be fully insured, the funds being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, each deposit having a predetermined maturity, the method comprising: (a) the processor receiving a plurality of orders to process the funds; (b) the processor partitioning each of the fund amounts into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; (c) the processor allocating each of the deposit portions to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated; (d) the processor comparing a deposit interest rate specified by each bank to an interest rate determined by the processor; and (e) the processor calculating the amount of a payment to compensate for differences between the specified deposit interest rate and the interest rate determined by the processor.