System and method for establishment of rules governing child accounts
First Claim
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1. A computerized method comprising:
- associating, in a database, a first transaction card through which access to monetary funds of a first account having a common account balance is extended with a second transaction card through which access to said monetary funds of the first account is extended;
associating, in said database, said second transaction card with one or more rules governing access to said monetary funds of the first account by said second transaction card, said rules selected from a set of rules for restricting purchases with said second transaction card based on characteristics of merchants, products, and services;
permitting an individual owning said first transaction card to specify said rules governing access to said monetary funds of the first account by said second transaction card; and
permitting said individual owning said first transaction card to select fraud triggers to be assigned to the second transaction card;
wherein said rules include one or more rules restricting purchases with said second transaction card based on one or more characteristics of merchants, products, or services and wherein said second transaction card maintains the common account balance with said first transaction card.
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Abstract
A system and method for establishment of rules governing child accounts may include associating, in a database, a first transaction card through which access to monetary funds is extended with a second transaction card through which access to the monetary funds is extended. Also, in the database, the second transaction card is associated with one or more rules governing access to the monetary funds by the second transaction card. Finally, an individual owning the first transaction card is permitted to specify the rules governing access to the monetary funds by the second transaction card.
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Citations
35 Claims
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1. A computerized method comprising:
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associating, in a database, a first transaction card through which access to monetary funds of a first account having a common account balance is extended with a second transaction card through which access to said monetary funds of the first account is extended; associating, in said database, said second transaction card with one or more rules governing access to said monetary funds of the first account by said second transaction card, said rules selected from a set of rules for restricting purchases with said second transaction card based on characteristics of merchants, products, and services; permitting an individual owning said first transaction card to specify said rules governing access to said monetary funds of the first account by said second transaction card; and permitting said individual owning said first transaction card to select fraud triggers to be assigned to the second transaction card; wherein said rules include one or more rules restricting purchases with said second transaction card based on one or more characteristics of merchants, products, or services and wherein said second transaction card maintains the common account balance with said first transaction card. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A system comprising:
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a first transaction card through which access to monetary funds of a first account having a common account balance is extended; a second transaction card through which access to said monetary funds of the first account is extended; a database in which said first transaction card is associated with said second transaction card, and in which said second transaction card is associated with one or more rules governing access to said monetary funds of the first account by said second transaction card, said rules selected from a set of rules for restricting purchases with said second transaction card based on characteristics of merchants, products, and services; and a computing system programmed to permit an individual owning said first transaction card to specify said rules governing access to said monetary funds of the first account by said second transaction card and to permit said individual owning said first transaction card to select fraud triggers to be assigned to said second transaction card; wherein said rules include one or more rules restricting purchases with said second transaction card based on one or more characteristics of merchants, products, or services and said second transaction card maintains the common account balance with said first transaction card. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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28. A computerized method comprising:
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assigning a first card number to a first transaction card through which access to monetary funds is extended; assigning a second card number to a second transaction card through which access to monetary funds is extended, wherein said second card number is different from said first card number and said second transaction card is associated with fraud triggers and one or more rules governing access to said monetary funds, said fraud triggers and said rules selected by an individual owning said first transaction card from a set of rules for restricting purchases with said second transaction card based on characteristics of merchants, products, and services; and associating, in a database, a master account with said first transaction card and said second transaction card, so that said monetary funds accessed through said second transaction card are the same monetary funds as those accessed through said first transaction card and said second transaction card maintains a common account balance with said first transaction card. - View Dependent Claims (29, 30, 31)
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32. A system comprising:
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a first transaction card through which access to monetary funds is extended, said first transaction card having a storage medium encoding a first number uniquely identifying said first transaction card; a second transaction card through which access to monetary funds is extended, said second transaction card having a storage medium encoding a second number uniquely identifying said second transaction card, said second transaction card associated with fraud triggers and one or more rules governing access to said monetary funds, said fraud triggers and said rules selected by an individual owning said first transaction card from a set of rules for restricting purchases with said second transaction card based on characteristics of merchants, products, and services; a database associating a master account with said first transaction card and said second transaction card, so that said monetary funds accessed through said second transaction card are the same monetary funds as those accessed through said first transaction card and said second transaction card maintains a common account balance with said first transaction card. - View Dependent Claims (33, 34, 35)
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Specification