System and method for automated account management

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

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C705S039000, C705S042000

Reexamination Certificate

active

07493282

ABSTRACT:
A system and method of managing bank accounts. A bank receives, electronically, from a customer, instructions to open, to update, to debit/credit, and to close bank accounts, such as escrow accounts associated with real estate transactions. Information in the instructions is used to automatically populate a bank's account management system. New accounts are thereafter automatically established and open accounts are automatically updated and closed consistent with the information in the instructions. New accounts are preferably funded from an operating account belonging to the customer, and checks are caused to be cut in an amount due to a client of the customer, if they so choose.

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“Chicago Title Enhances Escrow Process With Launch of Escrow Services.” Business Wire. New York: Aug. 19, 1999. p. 1.

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