Patent ID: 7930243

Claim:
A method for processing financial transactions, comprising: directing, by a hardware processor, a first debit transaction request from a first vendor and destined for a financial account controlled by an account owner to a holding account controlled by the account owner, wherein the first debit transaction request comprises a first amount; identifying, by the hardware processor, a maximum pre-authorized amount associated with the holding account, wherein the first amount is greater than the maximum pre-authorized amount; identifying, by the hardware processor, a list of authorized vendors; verifying, by the hardware processor and in response to the first debit transaction request exceeding the maximum pre-authorized amount, that the first vendor is among the list of authorized vendors; and routing, by the hardware processor, the first debit transaction request, in response to verifying that the first vendor is among the list of authorized vendors, from the holding account to the financial account controlled by the account owner.