Customer enrollment in a stored value card program
View Patent ↗Customer enrollment in a stored value card program is provided. One embodiment is a method for enrolling a customer in a stored value card program. One such method comprises: generating a list of unaffiliated stored value card programs; and when enrolling a new customer in a new stored value card program at a device, determining whether the new customer has a stored value account with one of the unaffiliated stored value card programs.
1. A device for providing stored value card services, the device comprising:
an input device that reads data from a stored value card to be activated and a previously activated stored value card;
a customer enrollment module that enrolls a customer in a stored value card program, the customer enrollment module comprising:
logic configured to identify information corresponding to an account associated with the previously activated stored value card;
logic configured to determine that the account corresponds to a competitor's stored value card program; and
logic configured to enroll the customer in a new stored value card program by qualifying the customer for reception of a new stored value card, such qualifying step including performing an OFAC check, creating an account for the qualified customer, associating a temporary stored value card with the created account and receiving funding for the new stored value card by transferring the funds from the previously activated stored value card;
wherein the logic configured to enroll the customer in a new stored value card program comprises logic configured to transfer the balance in the account associated with the previously activated stored value card to the created account corresponding to the new stored value card program.
2. The device of claim 1 , wherein the logic configured to identify information corresponding to an account associated with the previously activated stored value card comprises logic configured to identify a bank identification number which is read from the previously activated stored value card.
3. The device of claim 1 , wherein the logic configured to determine that the account corresponds to a competitor's stored value card program comprises logic configured to determine whether the bank identification number is included in a stored list.
4. The device of claim 1 , wherein the logic configured to enroll the customer in a new stored value card program comprises logic configured to enroll the customer without charging a transaction fee.
5. The device of claim 1 , wherein the logic configured to transfer the balance in the account associated with the previously activated stored value card comprises:
logic configured to reconcile the balance in the account; and
logic configured to credit the created account an amount based on the original balance in the account.
6. The device of claim 5 , wherein the logic configured to credit the created account an amount based on the original balance in the account involves waiving an enrollment transaction fee.