Automated Budget Management, Multiple Payment, and Payment Authority Management

摘要

An automated budget management and bill payment system is provided where there is at least one customer (1), at least one bank (5), and multiple billers (3). The system has a customer registration process which requires the customer (1) to commit to make regular customer payment to the bank (5) for the cost of bills rendered to the customer (1) by the billers (3). This enables budgeted funds for bill payment to be provided. The customer (1) payment is based on a budget setting process (25) involving all of the anticipated bills from all of the billers (3) over a period of time. The customer (1) registration process also requires the customer (1) to identify each one of the billers (3). A billers (3) registration process is required where each of the billers (3) identifies a respective bill "pay into" account. The system requires the billers (3) to forward bill details to both the customer (1) and the bank (5) and wherein funds are drawn/transferred directly from the budgeted funds of the customer and there is payment of the drawn fund into the biller's "pay into" account for payment of a bill.