METHODS AND SYSTEMS FOR ACCOUNT MANAGEMENT OF GROUP ACCOUNTS

Account management methods and systems are presented for managing and administering group accounts. A group may establish a financial group account using a novel group account management system in accordance with an embodiment of the invention. The novel group account management system can provide financial transaction-related controls, privileges, tracking, and/or reporting for one or more users, members, and/or sub-group within the group account. A concept of user-specific, member-specific, and/or sub-group-specific privileges is integrated into the novel group account management system to assign a particular user, member, and/or sub-group to an account management level within the group account. Furthermore, a novel concept of user-managed group account-related rules is also integrated into the novel group account management system to empower, restrict, and/or control certain transaction-related actions for at least some users, members, and/or sub-groups.