System and method for data management and financial transaction categorization

A method of managing financial data, comprising:

• managing bank accounts respectively associated with a plurality of account holders for a bank, including processing transactions for the bank accounts, the transactions including at least credit card transactions and checking transactions;
• storing data for the transactions in a computer-implemented storage device provided by the bank;
• categorizing the transactions into a plurality of categories based on the data, the plurality of categories including at least merchant categories and payment method categories;
• establishing a connection with one of the account holders via the Internet, including providing the account holder with web access to an on-line banking area of a website of the bank;
• providing a first display of at least a portion of the plurality of categories to the account holder;
• receiving a first input from the account holder;
• responsive to the first input, providing a second display of a check image associated with one of the transactions;
• receiving a second input from the account holder categorizing the transaction into one of the merchant categories;
• and
• responsive to the second input, updating the first display to reflect the categorization of the transaction.