Patent ID: 8082196

Claim:
A non-transitory computer-readable record carrier comprising computer-readable program steps which when executed by at least one computer cause the at least one computer to perform a method for implementing integrated bank accounts for a plurality of customers, each integrated bank account combining the features of (i) a loan secured against an asset of the customer and (ii) a checking account, whereby the customer's day-to-day credit and debit transactions are aggregated with the loan into a single account balance with a single credit limit, said method comprising: receiving from the customer instructions for credit and debit transactions and effecting real transactions by communication with apparatuses of a plurality of banking institutions; periodically updating said single account balance, interest deductions and available credit in response to said real transactions; reporting to the customer the single account balance and transaction history; in responsive to secondary customer instructions, creating a sub-account database defining attributes and virtual balances for a plurality of virtual sub-accounts of said loan and checking account parts of the single account so as to compartmentalize funds within said single account balance and credit limit without creating separate accounts in an account operation apparatus; effecting virtual transactions between said sub-accounts without effecting any real transaction or altering the single account balance; and updating and reporting sub-account balances in response to each said virtual transaction.