Patent ID: 7644042
Filing Date: 2010-01-05
Classification: G06Q

Abstract:
1. A system for managing transaction accounts comprising: a user computing device interface for communicating with a user computing device via a communication network; and a service provider computing device for obtaining user registration information from the user computing device via the user computing device interface, wherein the user registration information includes at least one user selected account verification technique from a plurality of account verification techniques for establishing a transaction account associated with a financial service provider, wherein the user computing device interface is configured to communicate display information corresponding to at least one of one or more of the plurality of verification techniques and one or more of a plurality of transaction amount thresholds to the user computing device for display; wherein the service provider computing device initiates one or more financial transactions with the financial service provider associated with the transaction account and wherein the service provider computing device generates a service provider verification token representative of the one or more financial transactions with the financial service provider associated with the transaction account and at least one additional piece of information associated with the user registration information; wherein the service provider computing device obtains a user verification token representative of the one or more financial transactions with the financial service provider associated with the transaction account and the at least one additional piece of information associated with the user registration information; wherein the service provider computing device validates the transaction account if the user verification token matches the service provider verification token; and wherein the service provider computing device associates the plurality of transaction amount thresholds with the one or more financial transactions, wherein the plurality of transaction amount thresholds are applied to the one or more financial transactions based in part on the at least one user selected account verification technique.