Method and system for managing consumer-directed accounts

A computer implemented method for providing consumer-directed account management, the computer implemented method comprising the steps of:

• an interface at an account manager receiving a first electronic message comprising a request for payment from a healthcare provider for a transaction, the request comprising claim data identifying a type of transaction and a payment amount;
• a computer processor at the account manager adjudicating the request and determining that the type of transaction is for a valid medical purpose;
• the computer processor at the account manager communicating a second electronic message to a payment processor comprising a request for confirmation that a consumer-directed account contains sufficient funds to cover the payment amount from a payment processor;
• the computer processor at the account manager receiving a third electronic message from the payment processor comprising confirmation that the consumer-directed account contains sufficient funds;
• and
• the computer processor at the account manager settling the transaction by electronically sending a payment for the payment amount from the consumer-directed account to the healthcare provider.