Patent ID: 8606714

Claim:
A system comprising: a database circuit configured and arranged to store customer account information including an amount of funds in at least one of a checking or savings account for the customer; at least one computer circuit connected to the database circuit and configured and arranged to access data therein, the at least one computer circuit having a plurality of modules including: a first circuit module configured and arranged to receive transaction data from customer-oriented terminals, the transaction data including requests for monetary transfers on behalf of customers having, and the monetary transfers from, checking or savings accounts held at a financial institution; a second circuit module configured and arranged to access, in response to receiving the transaction data, the customer account information in the database circuit that includes the amount of funds in the checking or savings accounts; a third circuit module configured and arranged to determine whether sufficient funds exist in the checking or savings account to cover financial transactions; and a fourth circuit module configured and arranged to, in response to a potential overdraft of one or more customer accounts, access the-stored customer account information in the database circuit; determine, based upon the stored customer account information, eligibility of the customer for enrollment in an overdraft protection program; authorize the transaction based upon the determination of eligibility; provide an indication of eligibility to the customer; and provide a grace period during which funds can be transferred to cover the overdraft without charging a penalty for the overdraft; and provide, to the customer-oriented terminals, an indication of fees saved for the overdraft by enrollment in the overdraft protection program.