Pooled Allocation System

• Main Authors: Robinson, Timothy L, Schildt, Bradford R
• Format: Patent
• Language: English
• Published: 18.06.2020
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

A method is provided. The method includes one or more of establishing a card account for a consumer, determining, by a banking server, wage earnings for the consumer, determining, by the banking server, an available pool spending limit for a pool equal to a pool spending limit minus a sum of a purchase balance and a transfer balance between the pool and a designated account, selecting, by a first user interface control, a portion of the pool to allocate to the card account, allocating the portion of the pool to the card account, approving one or more purchase transactions for the card account not greater than a card account spending limit, and crediting, by an employer server, the primary account with the wage earnings on a payday, and in response transferring an amount equal to a portion of the sum of the transfer balance and the purchase balance from the primary account to a secondary account on or after the payday.