Patent ID: 8676704

Claim:
A method for transferring an amount of money, the method comprising: a service provider registering at least one payee payment card with the service provider, wherein the at least one payee payment card is associated with at least one payee payment card account; the service provider receiving an initial amount of money from at least one payor to the service provider; the service provider storing the initial amount of money; the service provider storing at least one spending category specified to the service provider by the at least one payor; the service provider monitoring, via a processor of a computing device, a transaction history of the at least one registered payment card account for a qualified purchase, wherein the qualified purchase is a purchase matching the at least one spending category; the service provider identifying at least one qualified purchase on the transaction history; the service provider comparing a monetary value of the at least one qualified purchase to the initial amount of money; the service provider automatically transferring a portion of the initial amount of money to the at least one registered payee payment card account upon identifying at least one qualified purchase on the transaction history; the service provider transferring a full amount of the monetary value of the at least one qualified purchase to at least one registered payee payment card account, if the monetary value of the at least one qualified purchase is less than the initial amount of money; and the service provider transferring the initial amount of money to the at least one registered payee payment card account, if the monetary value of the at least one qualified purchase is more than the initial amount of money.