Patent ID: 8301502

Claim:
A group account management system configured to provide financial transaction-related controls, privileges, tracking, and/or reporting for one or more account holder members and/or sub-groups, the group account management system comprising: a payments manager executed on a CPU and a memory unit of a computer system for receiving and/or responding to a transaction request associated with a group financial account; a rules manager executed on the CPU and the memory unit of the computer system for determining whether the transaction request is authorized, restricted, and/or rejected according to account holder member-managed one or more transaction-related rules for a transaction-related action by an account holder member and/or a sub-group associated with the group financial account, wherein the account holder member-managed one or more transaction-related rules are created, managed, and/or enforced based on a type of a merchant, a particular name of the merchant, a particular location of the merchant, a type of a transaction initiator, a time-based rolling parameter, and/or other transaction-related parameters; and a rules and accounts information data storage contained by or operatively connected to the computer system for storing the account holder member-managed one or more transaction-related rules and one or more account holder member-managed privileges, wherein the one or more account holder member-managed privileges define who is authorized to modify the account holder member-managed one or more transaction-related rules for the group financial account.