Mary W O'Toole

US Patent:

20120084198, Apr 5, 2012

Filed:

Sep 30, 2010

Appl. No.:

12/894682

Inventors:

Dawn M. Patton - Matthews NC, US
Kevin S. Kauffman - San Francisco CA, US
Mary S. O'Toole - Plainview NY, US
John F. Race - Waxhaw NC, US
Judey L. Thessen - Decatur GA, US
Vanessa Chung - Petaluma CA, US
Cheryl E. Robinson - Doraville GA, US
Barbara J. Watson - Sugar Hill GA, US
Yvette M.H. Hayes - Richmond VA, US
Maria L. Mitchell - Arlington TX, US
Kipling B. Dixon - Windsor CT, US
Mary N. Sylvester - Jacksonville FL, US
Susan R. Bushnell - Waxhaw NC, US
Todd L. Elmquist - Federal Way WA, US
Frank J. Fogliano - Monroe NY, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 39

Abstract:

A server includes a memory that stores a plurality of availability schedules, and a processor communicatively coupled to the memory. The processor is operable to access an automated clearing house (ACH) debit transaction received at an originating depository financial institution (ODFI) from an originator, determine an availability schedule associated with the originator from the plurality of availability schedules, credit a percentage of the amount of funds of the ACH debit transaction to a delayed settlement account associated with the originator, and transfer a portion of the amount of funds credited to the delayed settlement account to a general operating account of the originator on a particular day determined from the availability schedule. The delayed settlement account has one or more associated rules that prevent the originator from withdrawing funds from the delayed settlement account.