Abstract:
Disclosed herein are method, system and computer-readable storage media for gift card e-banking. This is a unique platform, where people can deposit and withdraw gift cards of any store, of any denomination, at any time and at any place from the bank. Gift cards are converted into virtual money not affiliated with any store. Unlike traditional banking system majority of transactions are in the form of gift cards. Customers have two types of accounts, gift card money account and fixed account. The gift cards deposited in the bank account are available to all the customers. Cards deposited in the fixed account are only available to the customer who owns that account. Customer may transfer gift card/virtual money from one account to another account. Gift card e-bank also issues its own gift card known as “one gift card”, which facilitates customers to use any gift card at any store.

Description:
CROSS-REFERENCE TO RELATED APPLICATION(S) 
       [0001]    This application claims the benefit of U.S. Provisional Patent Application Ser. No. 61/879,665, filed Sep. 18, 2013, the entirety of which is hereby incorporated herein by reference. 
     
    
     BACKGROUND OF THE INVENTION 
       [0002]    1. Field of the Invention 
         [0003]    The present invention relates to gift cards. More specifically the present invention relates to methods of gift card online banking. 
         [0004]    2. Background of the Invention 
         [0005]    People give and receive gift cards on all occasions for example festivals, birthdays, marriages, graduations, baby showers etc. Gift card is a kind of debit card for a particular store or merchant. Gift cards are very convenient as they save time in searching for a perfect gift. The most common problem however is, often there is a mismatch of what people need and what they get. For example a person gets a gift card of specific denomination of store A but does not want to buy anything from that store and actually needs something from store B. To use that gift card, the person is obligated to buy something which he or she does not need and cannot use the gift card money for buying the things he or she actually needs. Another crucial problem is small denomination gift cards or small money left in the gift card of different stores are often lost and wasted. People also have problems in keeping track of multiple gift cards and it is difficult to carry all the gift cards physically all the time. 
         [0006]    In the literature there are some patents and in the market there are some products, which provide a platform for gift card exchange, buying and selling. These products not only charge heavy fee for these services but also do not solve customer&#39;s problem fully. This is the reason why these products are not popular among masses. 
         [0007]    Our gift card e-banking or gift card online banking does not buy gift card from customer, does not offer any cash or check or lower denomination gift card to the customer. This gift card online banking method/system provides a unique, comprehensive, affordable and easy solution giving a perfect platform to the customers to use and manage their gift card the way they want, consolidating small money left in the gift card and keeping all their gift cards at one place for convenient use. 
       SUMMARY OF THE INVENTION 
       [0008]    Gift card e-banking is a unique platform where people can deposit gift cards of any store and of any denomination. Some other names of gift card e-banking include gift card online banking, gift card internet banking and gift card virtual banking Customer can deposit gift card of a participating store, merchant, or gift card issuer in the bank list. Gift card amount is deposited in the customer account; however gift card is deposited in the bank account. The amount deposited in the customer account is not affiliated with any store and some of the names of this customer account include gift card money (GCM) account, current account or checking account. Some of the names of the bank account where these gift cards are deposited may be bank account, gift card bank account, bank stock, bank inventory, bank reservoir, and bank pool. Furthermore, customers can withdraw gift cards of their desired stores and desired denomination at any time and at anyplace from this bank account. This way, customers can also consolidate their cards as well. In this unique gift card e-bank, the majority of transactions are in the form of gift cards instead of in the form of currency as in a traditional banking system. Customers have the option of two types of accounts: gift card money (GCM) account and the second account may be called as saving or fixed account. All the gift cards deposited in the gift card e-bank (GCeB) bank account are available to all the customers and customers can withdraw gift cards of their desired store, of any desired denomination from this bank account at any time, at any place. Cards deposited in the fixed account are not a part of the bank account and are not available for customers other than the person who owns that account. In this online banking system, gift card received from the customer is converted into gift card money which may be called as GCM and processing and other fees is charged from the customer in the form of the gift card money (GCM) and the collected gift card money/gift card as a processing fee is deposited in the gift card bank fee account and available for sale to the customer. Gift card e-bank (GCeB) also issues its own gift card known as “one gift card” like Master™ or Visa™ card, which facilitates customers to use any gift card at any store. 
         [0009]    In one exemplary embodiment, the gift card e-bank establishes an online or mobile banking method where unlike the traditional banking system; transactions take place mostly in the form of gift cards or gift card money. 
         [0010]    Gift card e-bank establishes an online or mobile banking system where people can deposit, organize, consolidate, withdraw, and buy gift cards. It is a bank where customer can keep all of his or her gift cards for future use. 
         [0011]    Gift card e-bank not only helps in keeping track of customer&#39;s gift card money but also prevents any kind of gift card loss. 
         [0012]    Gift card e-bank has two types of accounts for its customers: gift card money account and fixed account. 
         [0013]    Gift card money account (GCM A/c): Customers can deposit their gift cards in this account. Gift card requested to deposit in this account is first converted into an amount called gift card money (GCM), which is of same denomination but is not affiliated to any store. 
         [0014]    Fixed account: To make sure customers can get the right gift cards when needed; they can deposit their gift card in their fixed account. Cards deposited in the fixed account are out of the gift card e bank bank account and not available for customers other than the person who owns the account. Customers can first deposit the gift card in their gift card money account and get the gift card of their desired store and desired denomination from the bank account. Then, customers can deposit their gift card in their fixed account for future use. This added feature of fixed account enables customers to get the right gift card at the right time even if that gift card is not available in the gift card bank account at that time. 
         [0015]    Bank account: All the gift cards requested to deposit in the GCM account are added in the gift card e-bank bank account. Customers can withdraw gift cards of their desired store of any desired denomination from this bank account at any time and at any place. This gives customers the benefit of spending their gift card money according to their needs. Customers have the access to withdraw gift card of their choice from this account, If the card of a specific store and specific denomination is not available in the bank account, customers cannot get the card of that specific store and denomination. If the bank has the balance of that store, then the bank may buy the gift card of customer&#39;s desired denomination and provide to its customer. 
         [0016]    Gift card bank fee account: Gift card equal to conversion/processing fee is transferred from bank account to gift card bank fee account. Gift cards in this account are available for sale. 
         [0017]    Gift card money bank fee account (GCM bank fee A/c): Bank charges conversion/processing fee in the form of GCM either before or after depositing GCM in the customer GCM A/c and the bank fee in GCM is credited to the GCM bank fee A/c. 
         [0018]    Customers can deposit their gift card of any store via any method not limited to phone, online, mobile devices, internet, mail, computer, tab, gaming devices, store, merchant etc. either by entering/submitting their gift card number, photo, scan, etc. and also physically by postal services. 
         [0019]    After receiving the gift card information from the customer, the authenticity and balance of the gift card is checked and converted to a new gift card. The gift card money is then available to the customer. However gift card received directly from a store or merchant on behalf of a customer neither needs to be validated nor converted to a new gift card. 
         [0020]    Gift cards are easily accessible to the customer via number of ways not limited to smartphones, computers, phone, internet, any mobile media, emails etc. or physically through postal services. Customers can send a gift card to their family and friends from their account directly. 
         [0021]    Customers may track the balance in their gift card as gift card balance is updated automatically. 
         [0022]    Customers may buy a gift card from the e-bank at a discounted rate using their credit card at any time and can save money on their purchases. 
         [0023]    Gift card e-bank charges a processing fee. For instance if the bank charges 5% of the value of the gift card in the form of gift card money as a processing fee for a particular transaction, the remaining 95% value of the gift card is available to the customer as gift card money GCM). 
         [0024]    If a customer has a gift card in the fixed account but wants some other gift card from the gift card e-bank bank account, the customer first needs to convert this gift card into GCM and deposit it in his or her GCM account and then withdraw the gift card of his or her choice from the bank account. 
         [0025]    Gift card e-bank generates revenue through the processing fee for providing the services mostly in the form of GCM/gift card, which it may sell at a discounted rate. 
         [0026]    Gift card e-bank always maintains gift card balance in its bank account equal to the total gift card money customers own in their GCM account. 
         [0027]    In another exemplary embodiment, gift card e-bank issues/sells gift card debit card. This debit card may be called as “one gift card”, which gives access to the customers to use the gift card money deposited in their GCM account, fixed account and also the discounted gift cards available for sale. Gift card debit card is like any other debit card e.g. Visa™ or Master Card™ Customers may use gift card debit card at any participating store and may use their gift card money (GCM) given the availability of the gift card of that particular store in the bank account or customer&#39;s fixed account. The concept behind this is to provide—“one gift card for all stores”. 
         [0028]    Customers can swipe their gift card debit card (“one gift card”) at any participating store in the network and pay from their gift card e-bank accounts additionally they may buy gift card debit cards (“one gift card”) for desired denomination for gifting it to their family and friends. Customer by using gift card debit card (“one gift card”) at store not only have the access to their gift card money but also have the access to gift cards available for sale at a discounted rate and thus can save more. 
         [0029]    “One gift card” removes the steps of taking out cards from the gift card e-bank bank account. When customers swipe their “one gift card” at the participating store, the store is paid directly from the bank. 
         [0030]    In another exemplary embodiment, the present invention is a system for gift card online banking or gift card e-banking 
         [0031]    In yet another exemplary embodiment, the present invention is a computer program stored in a computer-readable medium for gift card online banking or gift card e-banking 
     
    
     
       BRIEF DESCRIPTION OF THE FIGURES OF THE DRAWINGS 
         [0032]    The present invention is illustrated by way of examples, and not by way of limitations, in the figures of the accompanying drawings in which: 
           [0033]      FIG. 1  is a functional block diagram illustrating an example of the gift card online banking in which various illustrative embodiments of the invention can be implemented; 
           [0034]      FIG. 2  is a diagram illustrating an example of a customer depositing a gift card in gift card money account (GCM A/c); 
           [0035]      FIG. 3  is a block diagram illustrating an example of a customer withdrawing a gift card from the gift card e-bank bank account (bank A/c); 
           [0036]      FIG. 4  is a diagram illustrating an example of a customer depositing a gift card in the fixed account; 
           [0037]      FIG. 5  is a diagram illustrating an example of a customer transferring gift card from the fixed account to the gift card money account (GCM A/c); 
           [0038]      FIG. 6  is a block diagram illustrating an example of a customer using a gift card in the fixed account; 
           [0039]      FIG. 7  is a diagram illustrating an example of customer A transferring a gift card from his or her fixed account to customer B&#39;s fixed account or gift card money from his or her gift card money account (GCM A/c) to customer B&#39;s gift card money account (GCM A/c); 
           [0040]      FIG. 8  is a block diagram illustrating an example of customer A transferring a gift card from his or her fixed account to customer B&#39;s gift card money account (GCM A/c); 
           [0041]      FIG. 9  is a block diagram illustrating an example of customer A transferring a gift card using gift card money to customer B&#39;s fixed account; 
           [0042]      FIG. 10  is a block diagram illustrating an example of gift card e-bank issuing “one gift card” and its method of transaction; and 
           [0043]      FIG. 11  is a diagram illustrating an example of a customer buying a gift card from the gift card online bank. 
           [0044]      FIG. 12  is an exemplary illustration of the system architecture used in the gift card e-banking. 
       
    
    
     DETAILED DESCRIPTION OF THE INVENTION 
       [0045]    Various embodiments of the invention are discussed in detail below. While specific implementations are discussed, it should be understood that this is done for illustration purpose only. A person skilled in the relevant art will recognize that other modifications, components and configurations may be used without parting from the spirit and scope of the disclosure. Accordingly, the specifications are to be regarded in an illustrative rather than a limiting sense. 
         [0046]      FIG. 1  is a block diagram of an exemplary embodiment of gift card online banking method in which customer A  101  contacts gift card e-bank (GCeB)  102  and opens an account in the gift card e-bank  103 . Customer A can operate his or her account in many ways some of them are shown in the  FIG. 1 . Customer A  101  can deposit gift card/cards of any store and of any denomination  104  in his or her fixed A/c  108  as it is for future use without paying any processing fee to the gift card e-bank. If Customer A  101  wants to change the store of the gift card/cards, he or she can deposit gift card/cards of any store and of any denomination  104  in his or her gift card money account (GCM A/c)  105 . Before depositing the gift card/cards of customer A  101  in GCM A/c  106 , bank converts the gift card into gift card money (GCM)  105  which has same denomination as the gift card but not affiliated to a particular store. Bank charges a processing fee  105  in the form of GCM and deposits the remaining balance of GCM in customer A&#39;s GCM A/c  106  and the gift card is deposited in the gift card e-bank bank account  116 . Gift card equal to the conversion fee transfers to the gift card fee account  117 . Using this GCM  106  in his or her GCM A/c, customer A can withdraw the gift card/cards of any denomination and of any store from the gift card e-bank bank account  107  and deposits in his or her fixed A/c  108 . If customer A wants to buy new gift card/cards of a different store or different denomination gift card/cards of the same store, using gift card in his or her fixed A/c  108 , customer A  101  first converts the gift card in GCM  105 . After paying a processing fee  105  to the gift card e-bank, the balance GCM is then deposited in customer A&#39;s GCM A/c  106  and customer A is able to use the new balance in GCM A/c to withdraw new card/cards  107  and may deposit them back to his or her fixed A/c  108 . Customer A  101  can transfer gift card from his or her fixed A/c  108  to GCM A/c  106 , by paying a processing fee to the bank  105 . Customer A  101  can transfer from his or her GCM in GCM A/c  106  to his or her fixed A/c  108  after withdrawing gift card from the bank account  107 . Customer A  101  can transfer  110  gift card from his or her fixed A/c  108  to the fixed A/c of customer B  111  without paying any fee. Customer A  101  can also transfer gift card from his or her fixed A/c  108  to the GCM A/c of customer B  113  after converting gift card in his or her fixed A/c  108  to GCM by paying processing fee  105 , depositing GCM in his or her GCM A/c  106  and then transferring  112  GCM amount of his or her choice to the GCM A/c of the Customer B  113 . Customer A  101  can transfer a new gift card using his or her gift card in fixed A/c  108  to the fixed A/c of Customer B  111  by first converting the gift card in his or her fixed A/c  108  to GCM paying a processing fee  105 , then depositing the GCM in his or her GCM A/c  106 , withdrawing a new gift card using GCM  107  in his or her GCM A/c  106  and then transferring  110  new gift card in the fixed A/c of Customer B  111 . In another scenario Customer A can transfer GCM of his or her choice from his or her GCM A/c  106  to customer B&#39;s fixed A/c  114  by withdrawing a new gift card using GCM  107  in his or her GCM A/c and then transferring  112  new gift cards in Customer B&#39;s fixed A/c  114 . Customer A can transfer  112  GCM from his or her GCM A/c  106  to the GCM A/c of customer B  113  without paying any processing fee to the gift card e-bank. Gift Card e-Bank also issues “one gift card”  115  to the customer. Using this card customer may use GCM in his or her GCM A/c  106  and the gift card in his or her fixed A/c  108  to purchase from any participating store. 
         [0047]    As an example of the above said process in  FIG. 1 , if a customer A has a $100 Target gift card  104  in hand and his present GCM balance in GCM A/c  106  is $120 and wants to deposit this card in the gift card e-bank, keeping the same store and same denomination, customer A can do this by depositing it in the fixed A/c  108  without paying any fee to the gift card e-bank. Gift cards deposited in the fixed A/c  108  are available for use 24×7, their store and denomination does not change unless customer wants to do so. In one of the exemplary option after depositing in fixed A/c if customer A wants to convert $100 Target gift card  104  deposited in the fixed A/c  108  to gift card money (GCM)  105 , either to keep in the form of GCM or to buy gift card of another store, gift card e-bank converts the gift card into GCM  105  and after charging for example $5 processing fee in the form of gift card money (GCM), credits the balance GCM $95 to the GCM A/c  106  of customer A. Now the balance in the gift card money account (GCM A/c)  106  of customer A becomes $215. In another scenario, if customer A wants to transfer  110  $100 Target gift card  104  from his/her fixed A/c  108  to the fixed A/c of customer B  111 , Target $100 gift card will be credited to the fixed A/c of customer B  111  on the request of customer A without charging any fee. In yet another exemplary embodiment, if customer A wants to transfer $100 target gift card  104  to the GCM A/c of the customer B  113 , customer A first needs to convert the gift card into gift card money (GCM)  105  and after charging $5 processing fee  105  in the form of GCM, the balance GCM of $95 is credited by the gift card e-bank to the GCM A/c  106  of customer A. Customer A may then transfer  112  $95 or desired GCM in customer B&#39;s GCM A/c  113 . In yet another scenario, if customer A wants to transfer $150 to the GCM A/c of customer B  113 , since the present balance in customer A&#39;s GCM A/c  106  is $120, customer A needs to transfer gift card from his/her fixed A/c  108  to the GCM A/c  106 . Suppose customer A transfers $100 Target gift card  104  to the GCM A/c  106  from his/her fixed A/c  108  and after paying processing fee  105 , $95 GCM money will be credited to the GCM A/c of Customer A  106  and the balance in his /her GCM A/c  106  becomes $215. Now customer A can transfer  112  $150 to the GCM A/c of customer B  113 . After transferring $150 to customer B&#39;s GCM A/c  113 , the balance in customer A&#39;s GCM A/c  106  becomes $65. In another exemplary embodiment, customer A wants to transfer $95 Macy&#39;s gift card to the fixed A/c of customer B. If customer A has $95 Macy&#39;s gift card in his or her fixed A/c  108  he or she can do it without paying any fee to the gift card e-bank and $95 Macy&#39;s gift card is transferred  110  to the fixed A/c of customer B  111 . Since in the present example, customer A do not have $95 Macys gift card in his or her fixed A/c  108 , then customer A can either use the GCM money of $  120  in the GCM A/c  106  to withdraw $95 Macys gift card  107  from the gift card e-bank bank account and transfer  110  it to fixed A/c of customer B  111 , or use $100 Target gift card  104  to withdraw $95 Macys gift card  107  after giving $5 processing fee  105  to the gift card e-bank and then transfer  112  it to the fixed A/c of customer B  114 . 
         [0048]    In the same example of the above said process in  FIG. 1 , if a customer A has a $100 Target gift card  104  in hand and his present GCM balance in GCM A/c  106  is $120 and does not want to keep the gift card of the same store, in this example $100 Target gift card  104 , he or she can deposit the gift card in his or her gift card money account (GCM A/c)  106 . Gift card e-bank then converts the gift card into gift card money (GCM)  105  of $100 which is not affiliated to any store  105 . Gift card e-bank charges the processing fee in the form of GCM 105 of $5 and credit $95 to the customer A&#39;s GCM A/c  106  and $5 fee in the GCM bank fee A/c. In one of the exemplary option after depositing in GCM A/c, if customer A is not sure about which store gift card he/she may need in the future, then customer A can leave the GCM in GCM A/c  106 . Since previous GCM A/c balance  106  was $120, with the present deposit of $95 it now becomes $215  106 . In another scenario, if the customer A has a specific store in mind, he/she can use this GCM  106  to buy the gift card  107  of his or her choice of any denomination from the gift card online bank&#39;s bank account and deposit it in the fixed A/c  108  for future use. For example if customer A wants to withdraw $25 Macy&#39;s gift card and $15 Best Buy gift card, they can use $40 of GCM A/c  106  to withdraw these cards. Since the previous balance in the GCM A/c was $120  106  and with the present deposit of $95 it is $215  106 , after purchasing $25 and $15 gift cards of Macy&#39;s and Best Buy respectively the remaining balance  106  now becomes $175. In yet another embodiment, customer A can request the gift card e-bank to transfer the money from GCM A/c  106  to customer B&#39;s GCM A/c  113 . For example if customer A wants to transfer  112  $110 to customer B&#39;s GCM A/c  113 , on request from Customer A, the gift card e-bank transfers the money to the GCM A/c of customer B  113  and the remaining balance after transfer in customer A&#39;s GCM A/c becomes $105,  106 . In yet another scenario, customer A can use his or her GCM at any time to withdraw a gift card from the bank account. For example if customer A wants to withdraw $75 Staples gift card from the gift card e-bank&#39;s bank account using his or her GCM in the GCM A/c  106 , after withdrawing the gift card  107 , the GCM A/c balance  106  of customer A becomes $140. Customer A can now deposit this card either in his or her fixed A/c  108  or transfer  110  it to the fixed A/c of customer B  111 . 
         [0049]      FIG. 2  is a block diagram of an exemplary method in which a customer  201  wants to deposit a gift card of any store and of any denomination in gift card money account (GCM A/c). There are many ways to deposit a gift card in his or her gift card e-bank account. This figure explores some of those pathways. One of the ways in which a customer can deposit a gift card in the bank is by accessing the internet using a computer, laptop, tablet, smart phone etc.  202  to access the gift card store website either directly or via the gift card e-bank website  203 . Customers, using their gift card on the store website, can buy a new gift card and request the store to send the new gift card via email directly to the gift card e-bank (GCeB) with a message including their gift card e-bank account number  206  in it. GCeB converts the gift card into gift card money  207  and the gift card e-bank charges processing/ conversion fee in the form of GCM either before or after depositing GCM in the customer account and the bank fee in GCM is credited to the GCM bank fee account  208 . Bank deposits this gift card in the gift card e-bank bank account  214 . Other ways to give gift card information to the bank are via phone, text message, voicemail, an app etc.  204  or by emailing gift card information to the bank  205 . Another way, a customer can deposit a gift card in GCM A/c is by accessing the gift card e-bank website  209  using any of the devices such as computer, laptop, tablet, smart phone, apps etc.  202 . The customer goes to GCM A/c  210  and either enters gift card information  211  in his or her account or upload the gift card picture  212  in the account. Bank gets the customer&#39;s gift card information as mentioned above  204 ,  205 ,  211 ,  212  but is not limited to these ways. In the next step, the bank verifies the balance in the gift card  213  by contacting the store, store website, or automatically getting information by connecting to the store website. Once the balance is confirmed with the customer, the bank buys gift card/cards from the store or its website  213 . New gift card/cards are deposited to the Gift card e-bank bank account/stock  214  and the bank converts gift cards into gift card money (GCM)  207 . The Gift card e-bank charges processing/conversion fee in the form of GCM either before or after depositing GCM in the customer account and the bank fee in GCM is credited to the GCM bank fee account  208 . Gift card equal to the processing/conversion fee transfers from bank account  214  to the gift card bank fee account  215 . 
         [0050]      FIG. 3  is an exemplary embodiment of a customer buying a gift card of any desired store and of any desired denomination using virtual money GCM in his or her GCM account. Customer  301  accesses gift card e-bank website by using any of the devices for example computer, laptop, tablet, smart phone etc.  302  and login  303  to the gift card e-bank website. The customer accesses his or her GCM A/c  304  and submits a request to withdraw the gift card of desired store and desired denomination  305 . Customer/bank checks  306  whether gift card money balance of desired store is available in the bank account  307 , if yes  311  the customer checks whether the gift card of desired denomination is available in the bank account  312 . If it is available  316  the customer withdraws this gift card from the bank account/stock  317  and deposits it in his or her fixed account  315 . If the customer finds that gift card money balance of desired store is available in the bank account  311  but desired denomination gift card is not available  313 , the customer can submit a request to the bank for the desired denomination gift card and the bank buys the gift card of desired value from that store  314  and deposits it in the customer&#39;s fixed account  315 . If the bank/customer finds there is not enough balance  308  of the desired store in the bank  307 , the customer is added to the waiting list  309  and the gift card of desired value is deposited in the customer&#39;s fixed account as soon as the bank gets the gift card money balance of that store in the stock. After submitting a request  305  bank deposits gift card/cards of desired store and denomination automatically to the customer&#39;s account immediately if bank has the balance and desired denomination gift card. The customer can use this gift card via internet, printout mobile devices etc.  310 . 
         [0051]      FIG. 4  illustrates an example of a customer depositing a gift card of any store and of any denomination to his or her fixed bank account. Customer  401  accesses gift card e-bank website via any of the devices for example computer, laptop, tablet, smart phone etc.  402  and login to the gift card e-bank website  403 . The customer submits the gift card/cards information in the fixed account  404  or on the bank website  405 . Customer can submit gift card information in many ways which are not limited to entering gift card information on the bank website  405  or via phone or mobile devices or apps or uploading picture  407 . Gift card is deposited to the customer&#39;s fixed account  406 . 
         [0052]      FIG. 5  is an example of a customer transferring the gift card from his or her fixed account to gift card money (GCM) account. Customer  501  accesses gift card e-bank website via. any of the devices for example computer, laptop, tablet, smart phone etc.  502  and login to the gift card e-bank website  503 . The customer goes to the fixed account  504  and submits a request for transferring the desired gift card from his or her fixed account to GCM account  505 . The bank verifies the balance in the gift card  506  by contacting the store, store website, or automatically getting information by connecting to the store website. Once the balance is confirmed with the customer, the bank buys gift card/cards from the store or its website  506 . New gift card/cards are deposited to the bank account/stock  509  and the bank converts gift card into gift card money (GCM)  507 . The Gift card e-bank charges processing/ conversion fee in the form of GCM either before or after depositing GCM in the customer account and the bank fee in GCM is credited to the GCM bank fee account  508 . Gift card equal to the processing/conversion fee transfers from bank account  509  to the gift card bank fee account  510 . 
         [0053]      FIG. 6  is an exemplary embodiment of a customer using the gift card in his or her fixed account. Customer  601  accesses gift card e-bank website via any of the devices for example computer, laptop, tablet, smart phone, apps etc.  602  and login  603  to the gift card e-bank website. The customer goes to his or her fixed account  604  and can use gift card via many ways including, mobile devices, emailing it to family and friends or using printout of gift card information, etc.  605 . 
         [0054]      FIG. 7  illustrates an example of customer A transferring a gift card from his or her fixed account to customer B&#39;s fixed account or GCM from his/her GCM account to customer B&#39;s GCM account. Customer A  701  accesses the gift card e-bank website via. any of the devices for example computer, laptop, tablet, smart phone etc.  702  and login  703  in to the gift card e-bank website. In his or her fixed account,  704  customer submits a request to transfer the gift card to customer B&#39;s fixed account with customer B&#39;s account details  705 . Bank deposits the gift card selected by customer A from his or her account to customer B&#39;s fixed account  706 . Similarly, customer A can transfer GCM money from his GCM account to customer B&#39;s GCM account. Customer A can access his or her GCM account and submit a request to transfer GCM to customer B&#39;s GCM account with customer B&#39;s GCM account details  708 . Bank deposits the GCM from customer A&#39;s GCM A/c to customer B&#39;s GCM account  709 . 
         [0055]      FIG. 8  is a block diagram of an exemplary method in which customer A wants to transfer a gift card from his or her fixed account to customer B&#39;s GCM account. Customer A  801  can access gift card e-bank website via any of the devices e.g. computer, laptop, tablet, smart phone etc.  802  and login  803  to the gift card e-bank website In his or her fixed account,  804  a customer submits a request to transfer a gift card to customer B&#39;s GCM A/c with customer B&#39;s A/c details  805 . Bank gets the customer&#39;s gift card information from customer A&#39;s fixed account and verifies the balance in the gift card  806  by contacting the store , store website, or automatically getting information by connecting to the store website. Once the balance is confirmed with the customer, the bank buys gift card/cards from the store or its website  806 . New gift card is deposited to the gift card e-bank bank account/stock  809  and the bank converts gift card into gift card money (GCM)  807 . Gift card with a denomination equal to the conversion/processing fee is transferred to the gift card bank fee account  810 . The gift card e- bank charges processing/conversion fee in the form of GCM either before or after depositing GCM in the customer account and the bank fee in GCM is credited to the GCM bank fee account  808 . 
         [0056]      FIG. 9  is a block diagram of an exemplary method in which customer A wants to send a gift card from his or her GCM account to customer B&#39;s fixed account. Customer A  901  accesses gift card e-bank website via. any of the devices for example computer, laptop, tablet, smart phone etc.  902  and login to the gift card e-bank website  903 . In his or her GCM account, the customer submits a request to transfer a gift card of desired store and denomination from his or her GCM account to customer B&#39;s fixed account with customer B&#39;s fixed account details  904 . Bank/customer checks the bank account  905  and if desired store balance  906  is available  907 , customer checks if desired denomination gift card is available  912 . If it is present,  911  customer withdraws the card  915  and deposits in his or her fixed account  910 . If customer finds there is not enough balance  908  of the desired store in the bank  906 , customer is added to the waiting list  909  and when the desired balance is available in the bank, a gift card is deposited in the customer&#39;s fixed account  909 . Bank does this process automatically as well. 
         [0057]      FIG. 10  is a block diagram of an exemplary method in which the bank issues a gift card to the customer called “one gift card”, which can be used in place of all other gift cards. Using this card customer can use GCM in their GCM A/c and gift card in their fixed A/c to purchase from any participating store and of any value. Gift card e-bank  1001  issues“one gift card”  1002  to the customer  1003 . Customer can check GCM balance  1005  and gift cards in his or her fixed account  1005  by accessing their bank account  1004  on bank website via computer, phone, apps, mobile devices etc. If customer has balance or credit line,  1008  customer can use “one gift card” at any participating store  1009  up to the balance in their bank account or credit limit. If a customer does not have any one of these,  1006  customer would not be able to use “one gift card”  1007 . When swiping “one gift card” in the store or online, money transaction takes place via network/internet  1010 . Gift card e-bank “one gift card”, facilitates customers to use any gift card at any store. 
         [0058]      FIG. 11  is a block diagram of an exemplary system of selling the gift cards collected by the bank as a processing/conversion fee to the customer. Customer  1101  accesses gift card e-bank website via. any of the devices for example computer, laptop, tablet, smart phone, apps etc.  1102  and may or may not login  1103  in to his or her gift card bank account. A customer who does not has an account in the gift card e-bank can also buy a gift card from the GCEB website. If the customer wants to buy a gift card of his or her choice  1104 , he or she can check the bank account/inventory  1105 . If desired store balance  1105  is available,  1106  customer checks if desired denomination gift card is also available  1107 . If it is available  1109  customer can take/buy this card  1111  and deposit it in his or her fixed account  1113  or print, email  1114  etc. If customer finds there is a balance of desired store in the bank  1105  but desired denomination gift card is not available  1108 , customer can submit the request to the bank for the desired denomination gift card  1112  and the bank buys the card from the store and deposit/inform the customer  1112 . If customer finds there is not enough balance  1116  of the desired store in the bank, customer is added in the waiting list  1117  and when desired balance is available in the bank, gift card can be deposited in the customer&#39;s fixed account  1113  or the customer may be informed about its availability  1113  and customer can buy  1111  and use at his or her convenience  1115 . Other way of buying gift card is, customer can go to the gift card e-bank website  1103  and buy from the advertised card  1110 , pay  1111  and use the card at his or her convenience  1115 .