Patent ID: 8224723

Claim:
A system for opening an account for a customer, said account opening system comprising: a customer information system comprising computer executable instructions embodied on a computer system and configured to prompt entry of information about the customer and to record the customer information as one of a plurality of profile listings; an account information system comprising computer executable instructions embodied on a computer system and configured to prompt and record an interest bearing deposit account type selection and add the account type selection to the profile listing; an audit system comprising computer executable instructions embodied on a computer system and configured to assign a profile number to each of the profile listings, to generate a random number corresponding to the profile number of a respective one of the profile listings and to initiate auditing of the respective one of the profile listings; an account activation system comprising computer executable instructions embodied on a computer system and capable of receiving a deposit amount submitted by the customer, activating the account and crediting the deposit amount to the account; a rate decision system comprising computer executable instructions embodied on a computer system and configured to prompt and record entry of an application date, a rate lock code, a term, a receipt date and a deposit amount and capable of using the application date, the rate lock code, term, receipt date, deposit amount and account type selection as criteria to consult a plurality of electronic rate tables in order to determine an interest rate for the account, the interest rate is determined from the plurality of electronic rate tables available between the application date and the receipt date; and a comment system comprising computer executable instructions embodied on a computer system and configured to tag the account to identify a progress status of opening the account.