Patent ID: 8762277

Claim:
A system comprising: at least one computer processor configured with software that when executed by the computer processor is configured to: receive customer initiated transaction data, the transaction data including requests for monetary transfers on behalf of a customer authorized to initiate monetary transfers from a checking account or savings account held at a financial institution; access, in response to receiving the transaction data, customer account information that includes an amount of funds in the checking or savings accounts; determine whether sufficient funds exist in the accounts to cover the monetary transfers; and in response to a potential overdraft of one or more customer accounts, access stored customer information; determine, based upon the stored customer information, whether the checking or savings account is linked to a sponsor account; determine, based upon the stored customer information, whether the authorized customer is responsible for overdraft fees; and authorize the transaction based upon an availability of funds in the sponsor account; in response to the potential overdraft occurring, determine whether the customer is enrolled in an overdraft program; and in response to determine that the customer is enrolled in the overdraft program, charge a fee for the overdraft to the customer authorized to initiate monetary transfers.