Patent ID: 7249096

Claim:
A computer-implemented method performed by an account controller to facilitate a distribution of bank accounts to students from an educational institution, comprising: receiving, from the educational institution, information associated with a student; validating the received information; determining that a soft bank account will be created based on the received information; establishing the soft bank account for the student based on the received information, wherein the soft bank account is established prior to receiving any indication of acceptance from the student; delivering a token associated with the student to the student; distributing a disbursement from the educational institution to said soft bank account or to a pre-existing accessible bank account associated with the student; receiving an indication of acceptance from the student that includes a request to convert the soft bank account to an accessible bank account; and converting the soft bank account to an accessible bank account in response to the received indication of acceptance and providing said student with access to said disbursement via the token.