Patent ID: 8459544

Claim:
A method for establishing a multiple-tier transaction rule based at least partially upon geographic location using a handheld electronic device comprising: using the handheld electronic device to define the multiple-tier transaction rule by: defining a first geographic limit and selecting a first control action to be implemented if a transaction initiated by a subsidiary financial account linked to a primary account belonging to the user of the handheld electronic device violates the first geographic limit; defining a second geographic limit and selecting a second control action to be implemented if the transaction initiated by a subsidiary financial account violates the second geographic limit; defining a third geographic limit and selecting a third control action to be implemented if the transaction initiated by a subsidiary financial account violates the third geographic limit; and defining a fourth geographic limit and selecting a fourth control action to be implemented if the transaction initiated by a subsidiary financial account violates the fourth geographic limit, wherein the first, second, third, and fourth geographic limits are different from one another, and wherein the first, second, third, and fourth control actions are different from one another; communicating the multiple-tier transaction rule to an external server controlled by a financial entity that manages the primary account and subsidiary account, wherein the communication of the multiple-tier transaction rule causes the external server to apply the multiple-tier transaction rule to the subsidiary account; and receiving a set of one or more inputs defining a first rule related to a transaction request by the subsidiary account in the first geographic limit and a second rule related to a transaction request by the subsidiary account in the second geographic limit, wherein the first rule related to the transaction request by the subsidiary account in the first geographic limit comprises a first authorization response time for authorization of transactions, and wherein the second rule related to the transaction request by the subsidiary account in the second geographic limit comprises a second authorization response time for authorization of transactions.