Patent ID: 8660920

Claim:
A method on a computer for managing deposits so as to maintain minimum levels of deposit with contracted issuer banks, comprising: storing, in a database, ledger data that defines deposit amounts for each of a plurality of depositors and the identities of one or more banks wherein said deposit amounts are being held; storing, for one or more contracted issuer banks, a minimum funds agreement that defines a minimum level of deposit for a contracted issuer bank and an interest rate to be paid on deposits in said contracted issuer bank, when said minimum level of deposit is maintained; receiving from a first customer a deposit amount for deposit in a first customer account at a first contracted issuer bank; determining, by the computer, whether said deposit amount may be deposited in the first customer account without exceeding governmental deposit insurance limits, and if so, a) depositing said deposit amount in the first customer account and b) storing, in the database, ledger data that reflects said depositing step, wherein if depositing said deposit amount in the first customer account would result in exceeding governmental deposit insurance limits, then a) depositing said deposit amount in another customer account that does not result in exceeding governmental deposit insurance limits, and b) storing, in the database, ledger data that reflects said depositing step; receiving from a first customer a request for a withdrawal amount from the first customer account at the first contracted issuer bank; accessing the minimum funds agreement for said first contracted issuer bank; and determining, by the computer, whether withdrawing said withdrawal amount from the first customer account would result in violation of the minimum level of deposit at the first contracted issuer bank, as defined in the minimum funds agreement that was accessed, and if so, a) withdrawing said withdrawal amount from the first customer account, b) withdrawing a corresponding amount from another bank, wherein said corresponding amount equals an amount of funds necessary to meet the minimum level of deposit at the first contracted issuer bank, c) depositing said corresponding amount in the first contracted issuer bank to meet the minimum level of deposit at the first contracted issuer bank, and d) storing, in the database, ledger data that reflects said withdrawing and depositing steps, wherein if withdrawing said withdrawal amount from the first customer account would not result in violation of the minimum level of deposit at the first contracted issuer bank, then a) withdrawing said withdrawal amount from the first customer account, and b) storing, in the database, ledger data that reflects said withdrawing and depositing step.