Restricting Transfer of Funds from Electronic Financial Account

Abstract

This disclosure includes methods and systems for restricting a transfer of funds from an electronic financial account after a lock feature has been engaged in response to an account lock request. In some embodiments, the method or system restricts a first transfer of funds, but allows a second transfer of funds while the lock feature is engaged. In some embodiments, one of a plurality of lock features is engaged based on a text string contained in the account lock request.

What is claimed is: 
     
         1 . A computer-implemented method for locking an electronic financial account, comprising:
 a computerized system receiving an SMS message containing an account lock request for the electronic financial account from an account holder, the account lock request being sent via a device with SMS capabilities;   the computerized system engaging a lock feature provided for the electronic financial account in response to the account lock request;   the computerized system restricting a first transfer of funds from the electronic financial account while the lock feature is engaged; and   the computerized system allowing a second transfer of funds from the electronic financial account while the lock feature is engaged.   
     
     
         2 . The computer-implemented method of  claim 1 , wherein the device sending the lock request is temporarily associated with the account holder for the purpose of sending the lock request. 
     
     
         3 . The computer-implemented method of  claim 1 , wherein the device sending the lock request is a mobile phone associated with the account holder. 
     
     
         4 . The computer-implemented method of  claim 1 , wherein the second transfer of funds is a preapproved transfer of funds from the electronic financial account. 
     
     
         5 . The computer-implemented method of  claim 4 , wherein the preapproved transfer of funds is approved by a communication received from the account holder prior to the receiving of the SMS message containing the account lock request. 
     
     
         6 . The computer-implemented method of  claim 4 , wherein the preapproved transfer of funds is a recurring automatic bill payment. 
     
     
         7 . The computer-implemented method of  claim 1 , wherein the second transfer of funds is associated with a request to transfer funds from the electronic financial account to a payment account. 
     
     
         8 . The computer-implemented method of  claim 1 , further comprising allowing the second transfer of funds while the lock feature is engaged after receiving a confirmation message from the account holder, the confirmation message confirming that the second transfer of funds is authorized by the account holder. 
     
     
         9 . The computer-implemented method of  claim 1 , further comprising:
 setting a preset temporary spending limit with a communication received from the account holder;   measuring a cumulative amount of money spent from the electronic financial account since the lock feature has been engaged; and   restricting the first transfer of funds after the cumulative amount of money spent exceeds the preset temporary spending limit.   
     
     
         10 . The computer-implemented method of  claim 1 , wherein the restricting of the transfer of funds includes restricting at least one of (i) a type of financial transfer attempted, (ii) an amount attempted in the financial transfer, (iii) a frequency of the financial transfer, and (iv) a merchant allowed to participate in the financial transfer. 
     
     
         11 . The computer-implemented method of  claim 1 , further comprising verifying the electronic financial account by determining an identity of the account holder from the SMS message. 
     
     
         12 . The computer-implemented method of  claim 1 , further comprising using a hardware identifier to determine an identity of the account holder. 
     
     
         13 . A computerized system for locking an electronic financial account, the computerized system comprising a processor for:
 receiving an SMS message containing an account lock request for the electronic financial account from an account holder via a communication system, the account lock request being sent via a device with SMS capabilities;   engaging a lock feature provided for the electronic financial account in response to the account lock request;   restricting a first transfer of funds from the electronic financial account while the lock feature is engaged; and   allowing a second transfer of funds from the electronic financial account while the lock feature is engaged.   
     
     
         14 . The computerized system of  claim 13 , wherein the device is a mobile telephone associated with the account holder. 
     
     
         15 . The computerized system of  claim 13 , wherein the device is a mobile device specifically designed for use with the computerized system. 
     
     
         16 . The computerized system of  claim 13 , further comprising a server device that the processor communicates with to engage and disengage the lock feature. 
     
     
         17 . The computerized system of  claim 16 , wherein the processor is a part of the server device. 
     
     
         18 . The computerized system of  claim 13 , wherein an unlock command is received via a second SMS message from the device. 
     
     
         19 . A computer-implemented method, comprising:
 a computerized system receiving an account lock request for an electronic financial account from a device, the account lock request containing a text string;   the computerized system engaging one of a plurality of lock features based on the text string; and   the computerized system restricting a transfer of funds from the electronic financial account based on the one of the plurality of lock features.   
     
     
         20 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits the type of merchant involved in the transfer of funds. 
     
     
         21 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits cash access locations involved in the transfer of funds. 
     
     
         22 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits the transfer of funds to specified geographic locations. 
     
     
         23 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits the transfer of funds to a monetary threshold. 
     
     
         24 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits a number of the transfer of funds to a specified number. 
     
     
         25 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features limits a period of time in which the transfer of funds may occur. 
     
     
         26 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features puts the electronic financial account into a state wherein confirmation is required from the account holder to approve the transfer of funds. 
     
     
         27 . The computer-implemented method of  claim 19 , wherein the one of the plurality of lock features puts the electronic financial account into a shutdown wherein the transfer of funds is not allowed. 
     
     
         28 . The computer-implemented method of  claim 19 , further comprising the computerized system sending a confirmation command to the device after the one of the plurality of lock features has been engaged. 
     
     
         29 . The computer-implemented method of  claim 19 , wherein:
 the account lock request contains a plurality of the text strings; and   the method further comprises the computerized system engaging more than one of the plurality of lock features based on the plurality of the text strings.   
     
     
         30 . The computer-implemented method of  claim 19 , further comprising:
 the computerized system receiving an account unlock request for the electronic financial account from the device, the account unlock request containing a second text string; and   the computerized system changing the one of the plurality of lock features based on the second text string.