Financial transaction account usage parameter access and control method

Abstract

A methodology for access, control and management of credit product usage parameters by an account holder. The methodology includes the steps of creating a credit/debit account and issuing a credit/debit card product for same. A group or family of accounts can optionally be created including a key account and one or more dependent accounts. An initially set of product usage parameters is established. The account holder access the product usage parameters through one of a number of alternative points of access. The account holder then modifies one or more of the product usage parameters and submits the same, optionally in real time. The submitted parameters are tested against allowable usage criteria implemented by the card processing and service provider or the card issuer, which can be based on applicable laws, rules and regulations. If the submitted usage parameter modifications are acceptable, same are implemented and control the product usage until further modified. In a group or family context the usage parameters can be specifically established for a key account and optionally, one or more dependent accounts. Optionally the dependent accounts in such a group can be provided with access, control and management over certain usage parameters.

What is claimed and desired to be secured by Letters Patent is as follows:  
     
         1 . A method of accessing usage parameters associated with a financial transaction account, which comprises the steps of: 
 establishing an account;    issuing a presentation instrument associated with said account;    establishing an initial set of product usage parameters for said account;    providing access to said product usage parameters by the account holder;    submitting modified product usage parameters by the account holder;    establishing product usage criteria by a card processing and service provider or a card issuer;    comparing the submitted product usage parameter modifications with the usage criteria;    if the submitted product usage parameters comply with said usage criteria, implementing same in connection with the account; and    rejecting the submitted product usage parameters if same do not comply with the usage criteria.    
     
     
         2 . The method of  claim 1  wherein said account comprises a first account, and which method includes the additional steps of: 
 establishing a second account; and  
 forming a group with said accounts.  
 
     
     
         3 . The method of  claim 2 , which includes the additional steps of: 
 designating one of said accounts as a key account;    providing primary product usage parameters for said key account;    designating the other said account as a dependent account;    providing dependent product usage parameters for said dependent account; and    providing a holder of said key account with access to and control over the product usage parameters associated with said dependent account.    
     
     
         4 . The method of  claim 3 , which includes the additional step of creating group master data financial records associated with said group.  
     
     
         5 . The method of  claim 1  wherein said product usage parameters include ranges of time during which said presentation instrument can be utilized.  
     
     
         6 . The method of  claim 1  wherein said product usage parameters include geographic restrictions on the usage of said presentation instrument.  
     
     
         7 . The method of  claim 1  wherein said product usage parameters include restrictions on the types of goods and services which can be purchased with said presentation instrument.  
     
     
         8 . The method of  claim 3 , which includes the additional steps of: 
 establishing a credit line for said group with a group credit limit;    establishing a dependent credit line for said dependent account with a dependent account credit limit; and    said credit limits comprising product usage parameters.    
     
     
         9 . The method of  claim 1 , which includes the additional steps of: 
 arranging for the allocation of account payments among said key and dependent accounts; and    allocating account payments among said key and dependent accounts.    
     
     
         10 . The method of  claim 3 , which includes the additional steps of: 
 providing statements for said key and dependent financial accounts; and    providing the key account holder with access to the information provided in conjunction with such statements.    
     
     
         11 . The method of  claim 3  wherein said product usage parameters include the redemption of reward points for purchases by members of said group.  
     
     
         12 . A method of accessing, controlling and managing the usage parameters for a group of financial transaction accounts including a key account and at least one dependent account, which method includes the steps of: 
 issuing by a card processing and service provider or by a card issuer a financial transaction product;    providing a key account for a key account holder;    providing at least one dependent account for a dependent account holder;    issuing presentation instruments to said account holders respectively;    establishing an initial set of product usage parameters;    providing said key account holder with access to said product usage parameters;    providing a set of usage criteria concerning said product usage parameters by said card processing and service provider or by said card issuer;    said key account holder submitting a proposed product usage parameter modification through a point of access;    comparing said submitted product usage parameter modification with said usage criteria;    implementing said submitted product usage parameter modification in connection with said account if same complies with said usage criteria; and    rejecting said submitted product usage parameter modification if same does not comply with said usage criteria.    
     
     
         13 . The method of  claim 12 , which includes the additional steps of: 
 providing primary usage parameters associated with said key account;    providing dependent usage parameters associated with said dependent account;    providing said key account holder with access to and control over said primary and dependent usage parameters; and    providing said dependent account holder with control over said dependent usage parameters.    
     
     
         14 . The method of  claim 12  wherein said usage parameters comprise primary usage parameters, which method includes the additional steps of: 
 providing issuer control of said primary usage parameters;  
 providing key account holder control of said primary usage parameters subject to said usage criteria;  
 providing dependent usage parameters;  
 providing said dependent account holder with control of said dependent usage parameters; and  
 providing said key account holder with access to and control of said dependent usage parameters.  
 
     
     
         15 . The method of  claim 14 , which includes the additional steps of: 
 providing an account;    subjecting said account to said primary usage parameters;    conducting transactions on said account with said presentation instruments;    maintaining a record of transactions conducted with said presentation instruments; and    providing transactional record data to said account.    
     
     
         16 . The method of  claim 12 , which includes the additional steps of: 
 providing a unique identification for each account holder;    validating the account holder identification upon entry into the access methodology;    determining the actions allowed of the account holder;    providing the account holder with options pertaining to the product usage parameters;    comparing the account holders' requested changes with the usage criteria;    confirming entry of said changes;    processing said changes; and    impacting the product account or access thereto with said changes.    
     
     
         17 . The method of  claim 12 , which includes the additional step of: 
 providing said account holder with alternative entry modes into said access and control methodology.    
     
     
         18 . The method of  claim 17  wherein one of said entry modes is via the global computer network (“internet”).  
     
     
         19 . The method of  claim 17  wherein one of said entry modes is via a telecommunications system.  
     
     
         20 . The method of  claim 17  wherein one of said entry modes is via written correspondence.  
     
     
         21 . The method of  claim 17  wherein one of said entry modes is via e-mail.  
     
     
         22 . The method of  claim 12 , which includes the additional step of providing alternative paths for entry into said methodology.  
     
     
         23 . The method of  claim 22 , wherein said alternative paths include a path from the entry mode through the issuer.  
     
     
         24 . The method of  claim 22 , wherein said alternative paths include a path from said entry mode through a third party.  
     
     
         25 . The method of  claim 22  wherein said alternative paths include a path from said entry mode through a processor.  
     
     
         26 . The method of  claim 12 , which includes the additional step of: 
 providing alternative impacts to said account or access.    
     
     
         27 . The method of  claim 26  wherein said impact is to communications usage parameters.  
     
     
         28 . The method of  claim 26  wherein said impact is to credit line usage parameters.  
     
     
         29 . The method of  claim 26  wherein said impact is to new user usage parameters.  
     
     
         30 . The method of  claim 26  wherein said impact is to block user usage parameters.  
     
     
         31 . The method of  claim 26  wherein said impact is to payment allocation usage parameters.  
     
     
         32 . The method of  claim 26  wherein said impact is to authorization usage parameters.  
     
     
         33 . A method of accessing and controlling usage parameters associated with a financial transaction account, which includes the steps of: 
 providing a card processing and service provider;    providing a product issuer associated with said card processing and service provider;    issuing multiple presentation instruments associated with said account;    establishing a key account holder within said account;    establishing a dependent account holder within said account.    providing said account holders with respective presentation instruments;    providing the key account with primary usage parameters;    providing the dependent account with dependent usage parameters;    conducting transactions with said presentation instruments through said account;    providing transaction records from said transactions to said account;    establishing product usage criteria by the card processing and service provider or by the card issuer;    accessing said primary and dependent usage parameters by said key account holder;    submitting modified primary and secondary usage parameters by said key account holder;    comparing the submitted product usage parameter modifications with the product usage criteria;    if the submitted product usage parameters comply with said usage criteria, implementing same in connection with the account; and    rejecting the submitted product usage parameters if same do not comply with the usage criteria.    
     
     
         34 . A method of accessing and controlling usage parameters associated with a financial transaction account, which includes the steps of: 
 providing a card processing and service provider;    providing a product issuer associated with said card processing and service provider;    issuing multiple presentation instruments associated with said account;    establishing a key account holder within said account;    establishing a dependent account holder within said account.    providing said account holders with respective presentation instruments;    providing the key account with primary usage parameters;    providing the dependent account with dependent usage parameters;    conducting transactions with said presentation instruments through said account;    providing transaction records from said transactions to said account;    establishing product usage criteria by the card processing and service provider or by the card issuer;    accessing said primary and dependent usage parameters by said key account holder;    submitting modified primary and secondary usage parameters by said key account holder;    comparing the submitted product usage parameter modifications with the product usage criteria;    if the submitted product usage parameters comply with said usage criteria, implementing same in connection with the account;    rejecting the submitted product usage parameters if same do not comply with the usage criteria;    providing a unique identification for each account holder;    validating the account holder identification upon entry into the access methodology;    determining the actions allowed of the account holder;    providing the account holder with options pertaining to the product usage parameters;    comparing the account holders' requested changes with the usage criteria;    confirming entry of said changes;    processing said changes;    impacting the product account or access thereto with said changes;    providing said account holder with alternative entry modes into said access and control methodology; and    providing alternative impacts to said account or access.