Payroll receipt using a trustee account systems and methods

Abstract

A payroll receiving and accessing system includes an enrollment kit. The kit includes activation instructions and an enrollment form for assigning an account identifier that identifies an account for receiving payroll funds due an employee. The system also includes an account activation system programmed to receive an activation request by the employee to activate the account, provide to the employee disbursement options including at least receiving payroll funds by negotiable instrument and receiving payroll funds by presentation instrument, receive from the employee a selection from among the disbursement options, and establish the selection. The system also includes a trustee account for the benefit of the employee for receiving the payroll funds due the employee and a system configured to disburse the funds to the employee in accordance with the selection.

1 . (canceled) 
     
     
         2 . A payroll receiving and accessing system for providing payroll funds from an employer to an employee by a third party, comprising:
 an account activation system configured to:
 receive an activation request, wherein:
 the activation request is initiated by the employee; 
 the activation request comprises an account identifier; 
 the activation request comprises a temporary password; 
 the employee received the account identifier and the temporary password from the employer; and 
 the activation request is received by the third party; 
 
 authenticate the activation request, wherein:
 the activation request is authenticated using the account identifier and the temporary password received from the employee; and 
 the activation request is authenticated by the third party; and 
 
 activate an account for use by the employee; 
   the account, wherein the account a trust account; and   a disbursement system, wherein:
 the disbursement system is operated by the third party; and 
 the disbursement system is configured to:
 receive the payroll funds from the employer; 
 credit the payroll funds to the account; 
 receive a selection from the employee of one or more options for distributing the payroll funds; and 
 disbursing at least a portion of the payroll funds according to the one or more options selected by the employee for distributing the payroll funds. 
 
   
     
     
         3 . The payroll receiving and accessing system for providing payroll funds from the employer to the employee by the third party as recited in  claim 2 , wherein the one or more options comprises a negotiable instrument having the employee as the drawer on the negotiable instrument. 
     
     
         4 . The payroll receiving and accessing system for providing payroll funds from the employer to the employee by the third party as recited in  claim 2 , wherein the payroll funds are stored in the account such that the payroll funds are no longer subject to a business risk of the employer or the third party. 
     
     
         5 . The payroll receiving and accessing system for providing payroll funds from the employer to the employee by the third party as recited in  claim 2 , wherein the account is insured. 
     
     
         6 . The payroll receiving and accessing system for providing payroll funds from the employer to the employee by the third party as recited in  claim 2 , wherein the employee is a beneficiary of the account. 
     
     
         7 . The payroll receiving and accessing system for providing payroll funds from the employer to the employee by the third party as recited in  claim 2 , wherein the one or more options comprises providing the employee with one or more presentation instruments. 
     
     
         8 . A method for providing payroll funds from an employer to an employee by a third party, the method comprising:
 receiving an activation request, wherein:
 the activation request is initiated by the employee; 
 the activation request comprises an account identifier; 
 the activation request comprises a temporary password; 
 the employee received the account identifier and the temporary password from the employer; and 
 the activation request is received by the third party; 
   authenticating, by the third party, the activation request using the account identifier and the temporary password;   activating an account for the employee based on authenticating the activation request, wherein the account is a trust account;   receiving, by the third party, payroll funds for the employee from the employer;   crediting, by the third party, the payroll funds to the account;   providing, by the third party, one or more options to the employee for distributing the payroll funds;   receiving, by the third party, a selection from the employee of the one or more options for distributing the payroll funds; and   disbursing, by the third party, at least a portion of the payroll funds according to the one or more options selected by the employee for distributing the payroll funds.   
     
     
         9 . The method for providing payroll funds from the employer to the employee by the third party as recited in  claim 8 , further comprising:
 receiving, by the third party, additional funds from a second employer; and   crediting, by the third party, the additional funds to the account.   
     
     
         10 . The method for providing payroll funds from the employer to the employee by the third party as recited in  claim 9 , wherein:
 the additional funds are credited to the account for a second employee; and   the second employee does not have an employment relationship with the employer.   
     
     
         11 . The method for providing payroll funds from the employer to the employee by the third party as recited in  claim 9 , wherein the additional funds are credited to the account for the employee. 
     
     
         12 . The method for providing payroll funds from the employer to the employee by the third party as recited in  claim 11 , wherein the additional funds are received by the third party after an employment relationship between the employee and the employer is terminated. 
     
     
         13 . The method for providing payroll funds from the employer to the employee by the third party as recited in  claim 8 , further comprising:
 receiving, by the third party, additional funds from the employee; and   crediting, by the third party, the additional funds to the account.   
     
     
         14 . A memory device having instructions that when executed cause one or more processors to perform the following steps for providing payroll funds from an employer to an employee by a third party:
 receive an activation request, wherein:
 the activation request is initiated by the employee; 
 the activation request comprises an account identifier; 
 the activation request comprises a temporary password; 
 the employee received the account identifier and the temporary password from the employer; and 
 the activation request is received by the third party; 
   authenticate the activation request using the account identifier and the temporary password;   activate an account for the employee based on authenticating the activation request, wherein the account is a trust account;   receive payroll funds for the employee from the employer;   credit the payroll funds to the account;   provide one or more options to the employee for distributing the payroll funds;   receive a selection from the employee of the one or more options for distributing the payroll funds; and   disburse at least a portion of the payroll funds according to the one or more options selected by the employee for distributing the payroll funds.   
     
     
         15 . The memory device having instructions as recited in  claim 14 , wherein the instructions further cause the one or more processors to:
 receive additional funds from a second employer; and   credit the additional funds to the account.   
     
     
         16 . The memory device having instructions as recited in  claim 15 , wherein the additional funds are credited to account for a second employee, and the second employee does not have an employment relationship with the employer. 
     
     
         17 . The memory device having instructions as recited in  claim 15 , wherein the additional funds are credited to the account for the employee. 
     
     
         18 . The memory device having instructions as recited in  claim 17 , wherein the additional funds are received by the third party after an employment relationship between the employee and the employer is terminated. 
     
     
         19 . The memory device having instructions as recited in  claim 14 , wherein the instructions further cause the one or more processors to:
 receive additional funds from the employee; and   credit the additional funds to the account.   
     
     
         20 . The memory device having instructions as recited in  claim 14 , wherein the instructions further cause the one or more processors to:
 receive a request from a vendor for the at least a portion of the payroll funds; and   confirm an availability of the at least a portion of the payroll funds before disbursing the at least a portion of the payroll funds according to the one or more options selected by the employee.   
     
     
         21 . The memory device having instructions as recited in  claim 14 , wherein the instructions further cause the one or more processors to receive a request from the employee to create a second account, wherein the second account is for a second person who is different than the employee.