Patent ID: 7933833

Claim:
A method, operable with one or more processors, to control the one or more processors to execute a method for extending a temporary line of credit to a customer, the method comprising: receiving a request for the temporary line of credit from the customer; verifying, with a processing module operable with the one or more processors, at least a minimum number of deposit transactions have occurred in a deposit account belonging to the customer within a predetermined deposit verification time; verifying, with the one or more processors, that at least one prohibitive criterion has not been met by the customer; extending, with a credit extension module operable with the one or more processors, the temporary line of credit to the customer only where the at least a minimum number of deposit transactions have occurred in the deposit account within the predetermined deposit verification time; collecting, with a collection module operable with the one or more processors, a repayment amount from the deposit account within a predetermined deposit time window; transmitting electronically temporary line of credit terms and conditions to the customer; and receiving an electronic signature authorizing an automated withdrawal from the deposit account.