Automatic Savings Program

Abstract

A computer implemented method of processing a financial transaction executed by first person includes determining an automatic savings amount from the financial transaction by rounding up the amount of the financial transaction to the nearest dollar. The method further includes debiting the calculated savings amount from an account of the first person and crediting the savings amount to an account of a second person.

1 . A method of processing a first financial transaction of a first person comprising: 
 determining a savings amount based on at least the first financial transaction;    debiting the savings amount from a source account of the first person; and    crediting at least a part of the savings amount to a first recipient account of a second person.    
     
     
         2 . The method of  claim 1 , wherein the crediting at least a part of the savings amount comprises: 
 crediting a first percentage of the savings amount to the first recipient account; and    crediting a second percentage of the savings amount to a second recipient account.    
     
     
         3 . The method of  claim 1 , wherein debiting the savings amount occurs on a daily basis and is based on a aggregate savings amount from a plurality of financial transactions.  
     
     
         4 . The method of  claim 3 , further comprising: 
 determining if adequate funds are available in the source account before debiting the savings amount.    
     
     
         5 . The method of  claim 1 , wherein the savings amount is determined by rounding up a value of the financial transaction to a nearest predetermined value to calculate a rounded up amount, and the savings amount is equal to the rounded up amount.  
     
     
         6 . The method of  claim 1 , further comprising: 
 crediting a matched amount to the first recipient account.    
     
     
         7 . The method of  claim 1 , further comprising: 
 providing an identity of the first person to the second person as a source of the savings amount.    
     
     
         8 . A method of automatic savings comprising: 
 executing a financial transaction for a first account;    calculating a savings amount based on the financial transaction;    debiting the savings amount from the first account;    crediting a first portion of the savings amount to a second account; and    crediting a second portion of the savings amount to a third account.    
     
     
         9 . The method of  claim 8 , wherein the first account and the second account are owned by different entities.  
     
     
         10 . The method of  claim 8 , wherein the debiting the savings amount occurs on a daily basis and is based on a aggregate savings amount from a plurality of financial transactions.  
     
     
         11 . The method of  claim 8 , further comprising: 
 determining if adequate funds are available in the first account before debiting the savings amount.    
     
     
         12 . The method of  claim 8 , wherein the savings amount is determined by rounding up a value of the financial transaction to a nearest predetermined value to calculate a rounded up amount, and the savings amount is equal to the rounded up amount.  
     
     
         13 . The method of  claim 8 , further comprising: 
 crediting a matched amount to the second account.    
     
     
         14 . The method of  claim 8 , further comprising: 
 providing an identity of the first account to the second account as a source of the savings amount.    
     
     
         15 . The method of  claim 12 , wherein the nearest predetermined value is a nearest whole dollar amount.  
     
     
         16 . A computer readable medium having instructions stored thereon that, when executed by a processor, cause the processor to: 
 determine a savings amount based on at least a first financial transaction;    debit the savings amount from a source account of a first person; and    credit at least a part of the savings amount to a first recipient account of a second person.    
     
     
         17 . The computer readable medium of  claim 16 , wherein the credit at least a part of the savings amount comprises: 
 credit a first percentage of the savings amount to the first recipient account; and    credit a second percentage of the savings amount to a second recipient account.    
     
     
         18 . The computer readable medium of  claim 16 , wherein the debit the savings amount occurs on a daily basis and is based on a aggregate savings amount from a plurality of financial transactions.  
     
     
         19 . The computer readable medium of  claim 16 , said instructions further causing said processor to: 
 determine if adequate funds are available in the source account before debiting the savings amount.    
     
     
         20 . The computer readable medium of  claim 16 , wherein the savings amount is determined by rounding up a value of the financial transaction to a nearest predetermined value to calculate a rounded up amount, and the savings amount is equal to the rounded up amount.  
     
     
         21 . The method of  claim 1 , further comprising: 
 determining whether a matching program is still in effect before crediting.    
     
     
         22 . A method of processing a first financial transaction of a first person comprising: 
 determining a savings amount based on at least the first financial transaction;    debiting the savings amount from a source account of the first person;    crediting a first portion of the savings amount to a first recipient account; and    crediting a matched amount to the first recipient account.    
     
     
         23 . The method of  claim 22 , further comprising crediting the matched amount only if it is determined that the first financial transaction is eligible to be matched.  
     
     
         24 . The method of  claim 22 , further comprising crediting the matched amount only if it is determined that a predetermined time period has not been surpassed.  
     
     
         25 . The method of  claim 22 , wherein the matched amount approximately equals the savings amount  
     
     
         26 . The method of  claim 22 , wherein the matched amount equals a predetermined amount.  
     
     
         27 . The method of  claim 22 , wherein the first recipient account is owned by a second person.  
     
     
         28 . The method of  claim 22 , further comprising crediting a second portion of the savings amount to a second recipient account.  
     
     
         29 . The method of  claim 22 , wherein debiting the savings amount occurs on a daily basis and is based on a aggregate savings amount from a plurality of financial transactions.