Patent ID: 7921057

Claim:
An automated method of processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured, the large deposits being received by a plurality of banks from their depositors, the plurality of banks including banks that are unaffiliated with each other, the method comprising for at least some of the large deposits: (a) receiving at a processor an order from one of the unaffiliated banks to process a large deposit; (b) partitioning, using the processor, the large deposit into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; (c) automatically assigning by the processor at least some of the deposit portions to at least some of the unaffiliated banks other than the unaffiliated bank that received the large deposit for deposit therein; and (d) automatically depositing by the processor in the unaffiliated bank that sent the order to the processor an amount of funds equal to the amount of the order.