Targeted Benefit Account

A computer implemented method for conducting transactions using a targeted benefit account, comprising:

• receiving, by at least one computer processor, over a computer based network, data associated with a transaction, the data comprising at least a transaction type and an amount,
• wherein the transaction is initiated by a consumer through using a transaction card associated with an account,
• wherein the account comprises funds from a plurality of programs such that the use of the funds is governed by a plurality of predetermined rules;
• processing, by the at least one computer processor, the data;
• applying, by the at least one computer processor, the plurality of predetermined rules to the transaction data to determine availability of funds from the plurality of programs to apply to the transaction,
• wherein at least a portion of the plurality of predetermined rules determine availability of the funds based upon a hierarchy that applies the funds based on a usage category ranging from most restrictive usage to least restrictive usage;
• and
• transmitting, over a computer based network, an authorization for the transaction upon completion of application of the plurality of predetermined rules and an indication of sufficient funds to complete the transaction.