Patent ID: 7752133

Claim:
A method for an automated payment process for providing potential subscribers with funds based on their income at regular, pre-defined intervals, which they are normally paid, comprising the steps of: (A) Subscribing an individual, including authorizing financial institution transfers, by contacting a service provider, completing authorization forms and returning said forms to the service provider, entering the completed forms into the service provider's database, and returning the forms to the potential subscribers for verification of status and income; (B) Verifying subscription; (C) Authorizing electronic funds transfer with direct deposit data to the service provider's financial institution; (D) The service provider's financial institution electronically transferring funds into a customer account for the potential subscribers, electronically forwarding the remainder of subscribers'deposit to the Federal Reserve; (E) The Federal Reserve electronically distributing the rest of the deposit to subscriber's own financial institution account, where subscribers may optionally access their funds at their respective financial institutions; (F) The service provider optionally periodically confirming wage verification data; (G) The service provider sending a transaction report for each transfer; and (H) The service provider deducting a service charge from the subscriber's account on designated dates.