Methods and systems for managing government issued entitlements

Abstract

A method for designating accounts for funds from a check to be deposited is described. The method includes receiving, at a processing center having a processor, a direct deposit government entitlement check from a government entity to be deposited. The check may include an identifier. The method further includes comparing the identifier with a customer database to determine that funds from the check have been designated to be divided into sub-amounts and deposited into a plurality of accounts. Each of the plurality of accounts has account type and an associated expenditure designation. The method then receives a report of a total amount deposited from the check for each type of associated expenditure designation and each account type.

1 . (canceled) 
     
     
         2 . A method for designating accounts for funds from a check to be deposited, the method comprising:
 receiving, for deposit at a processing center having a computer processor, a direct deposit government entitlement check from a government entity, wherein the check has an associated recipient, wherein the check includes an identifier, and wherein the check is subject to government mandated reporting of expenditures of funds from the check;   prior to depositing the funds from the check at the processing center, comparing the identifier with a recipient database to determine that funds from the check have been designated to be divided into sub-amounts;   dividing, by computer processor, the funds from the check into sub-amounts based on the determination that the funds from the check have been designated to be divided;   depositing the divided funds into a plurality of designated deposit accounts, each of the plurality of designated deposit accounts having an associated account type and an associated expenditure designation;   generating a report of a total amount deposited from the check into each of the designated accounts, including the account type and expenditure designation associated with such account;   automatically transmitting the report to the government entity and the recipient of the check; and   conforming to the government mandated reporting of expenditures of funds from the check.   
     
     
         3 . The method of  claim 2 , wherein the check may be associated with a specified deposit account and further comprising:
 if comparison of the identifier with a recipient database determines that the check has not been designated to be divided into sub-amounts, depositing the check into the specified deposit account.   
     
     
         4 . The method of  claim 3 , wherein the specified deposit account is a pre-paid account. 
     
     
         5 . The method of  claim 4 , wherein the pre-paid account is a stored value account. 
     
     
         6 . The method of  claim 2 , wherein the at least one of the designated accounts is a pre-paid account. 
     
     
         7 . The method of  claim 4 , wherein the pre-paid account is a stored value account. 
     
     
         8 . The method of  claim 2 , updating the customer database to reflect changes to the designations associated with the check. 
     
     
         9 . The method of  claim 2 , wherein the associated expenditure designations include at least one of food and clothing, education, and investment. 
     
     
         10 . The method of  claim 2 , wherein the check is a paper check. 
     
     
         11 . The method of  claim 2 , wherein the report is accessed from at least one of a branch location of the financial institution, a money transfer location, an automated teller machine (ATM), the Internet, an electronic mail (email), a facsimile, a telephone service, and a mail service. 
     
     
         12 . The method of  claim 2 , wherein the report is generated on at least one of a monthly, a quarterly, a semi-annual, and an annual basis. 
     
     
         13 . The method of  claim 12 , further comprising:
 based on the report, providing detailed accounting to the government entity indicating usage of the funds.   
     
     
         14 . The method of  claim 13 , wherein the detailed account information categories are selected from at least one categories: an account number, date of each transaction, an amount of each transaction, and the type of account. 
     
     
         15 . The method of  claim 14 , further comprising sorting the plurality of entries by one or more of the detailed account information categories. 
     
     
         16 . The method of  claim 2 , wherein the government entity is selected from at least one of agencies: the Social Security Administration (SSA), the Veterans Benefits Administration (VBA), and the Department of Health and Human Services. 
     
     
         17 . The method of  claim 16 , further comprising automatically submitting the report to the government entity. 
     
     
         18 . The method of  claim 2 , wherein the account type is at least one of a checking account, a savings account, a debit card, an investment account, an education fund account, and a pre-paid credit card. 
     
     
         19 . A system for designating accounts for funds from a check to be deposited, the system comprising:
 a storage memory; and   a computer processor in communication with the storage memory, wherein the storage memory has sets of instructions stored thereon which, when executed by the computer processor, cause the computer processor to implement:   an account processing center that is configured to receive a government entitlement check from a government entity for deposit, wherein the check has an associated recipient, wherein the check includes an identifier, and wherein the check is subject to government mandated reporting of expenditures of funds from the check, and that is further configured to, prior to depositing the funds from the check at the processing center, access a recipient database to compare the identifier with recipient information in the database to determine that funds from the check have been designated to be divided into sub-amounts, divide the funds from the check into sub-amounts based on the determination that funds from the check have been designated to be divided into sub-amounts, deposit the divided funds into the plurality of deposit accounts, each of the plurality of accounts having an associated account type and an associated expenditure designation, and based on recipient information from the database;   wherein the account processing center is further configured to automatically transmit a report to the government entity and the recipient of the check, and conform to the government mandated reporting of expenditures of funds from the check.   
     
     
         20 . The method of  claim 19 , wherein the pre-paid account is a stored value account. 
     
     
         21 . The system of  claim 19 , wherein the deposited fund totals are year-to-date totals. 
     
     
         22 . The system of  claim 21 , wherein the report includes year-to-date totals that are sub-divided based on the account type and expenditure. 
     
     
         23 . The system of  claim 19 , wherein the report includes searchable columns and rows. 
     
     
         24 . The system of  claim 23 , wherein the report is storable by the searchable columns and rows. 
     
     
         25 . A non-transitory machine-readable medium including sets of instructions which, when executed by a machine, cause the machine to:
 receive, for deposit into a specified account at a processing center having a processor, a direct deposit government entitlement check from a government entity, wherein the check includes an identifier;   compare the identifier with information in a recipient database to determine that funds from the check have been designated to be divided into sub-amounts and deposited into a plurality of deposit accounts, each of the plurality of deposit accounts having an account type and an associated account owner, wherein the check is subject to government mandated reporting of expenditures of funds from the check;   based on information from the recipient database, divide the funds from the check into sub-amounts;   based on information from the recipient database, automatically deposit into at least one of the plurality of deposit accounts at least a portion of the funds;   generate a report of a total amount deposited from the check into each of the deposit accounts, including the account type and expenditure designation associated with such account;   automatically transmit the report to the government entity and a recipient of the check; and   conform to the government mandated reporting of expenditures of funds from the check.   
     
     
         26 . The method of  claim 25 , wherein the check is further subject to government mandated audit requirements concerning the deposit of funds from the check into a plurality of accounts, concerning the goods and services purchased using funds from the check, and concerning audit requirements for the recipient of the check to track how funds are spent, and wherein the method further comprises:
 providing the recipient of the check with information necessary to conform with the audit requirements.