System and method for controlling access to an electronic account

Abstract

The present disclosure described herein relates to a system and method for managing transaction restrictions for an account in a family of accounts through a network. The method comprises: upon receipt of a transaction request from a device in the network at a server, analyzing a restriction field associated with the account against parameters associated the transaction request. When a transaction price associated with the transaction request exceeds a value in the restriction field or when a transaction entity associated with the transaction request is present as a restricted entity in the restriction field, completion of the transaction is denied. When contents of the restriction field relating to restrictions do not match any of the parameters, completion of the transaction is allowed. The method also updates the restriction field to reflect a change request for the transaction restriction for a subsequent transaction upon receipt of the change request.

Dependencies are inferred from the claim text.