Browse Prior Art Database

Efficient Financial System For Uniform Access Of Multiple Bank Accounts

IP.com Disclosure Number: IPCOM000247783D
Publication Date: 2016-Oct-06
Document File: 1 page(s) / 27K

Publishing Venue

The IP.com Prior Art Database

Abstract

A need arises to access bank accounts without carrying the respective ATM debit cards. We propose a novel method that helps the user to access other bank accounts using a single card that he carry.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 56% of the total text.

Page 01 of 1

Efficient Financial System For Uniform Access Of Multiple Bank Accounts

It is quite common for a person to have multiple bank accounts. Generally user carry a single card that he wish to use regularly instead of carrying all the debit cards he owns, also considering the security aspect.

Let us say user wants to withdraw a bigger amount and the card he carry doesn't have sufficient balance to serve his purpose at the moment. User has enough balance in other bank accounts but he cannot access those accounts

as he doesn't have debit cards for those accounts.

We propose a method where the user will still be able to access the bank accounts without carrying the respective ATM cards.

A need arises to access bank accounts without carrying the respective ATM debit cards. We propose a novel method that helps the user to access other bank accounts using a single card that he carry.

The detailed description is provided in the section below.

Today, each bank operates debit cards independently. The flexibility that user has currently is to use any bank's debit card in any bank's ATM.

Our method is farther ahead where one single bank's debit card is sufficient to access money from other bank's account. We keep this enforcement
at a central bank governing body (ex: RBI). All the bank accounts a user owns will be linked to his PAN number.

The proposed method works as mentioned in the steps below:

-> User access ATM with ICICI debit card.
-> User realizes balance is in-sufficient...