Abstract: Embodiments of the invention provide systems and methods for providing a mobile device user with the ability to user their mobile devices to make payments to others without knowing the payment recipient's account number. For example, an embodiment of the includes: (1) receiving a payment request from a mobile phone, such as through a text message, where the payment request includes an alias, and where the alias is not a financial account number; (2) identifying a payment recipient's financial account based at least partially on the alias; and (3) transferring funds to the payment recipient's financial account.

Abstract: Embodiments of the invention provide a system and method for on-boarding customers via a viral account opening or account registration process that uses aliases, such as telephone numbers, email addresses, and social networking identifiers, to identify payee accounts. If an alias is received for which a payee account cannot be identified, embodiments of the invention use the alias to contact the payee and request that the payee register an existing account or open a new account.

Abstract: A system and method for controlling a monetary account with one or more sub-accounts is described. A monetary account with an entity is established and an account user associated with the monetary account is identified. A sub-account with the entity is established, where the sub-account is associated with the monetary account and includes monetary funds transferred from the monetary account. At least one sub-account user associated with the sub-account is identified, where the at least one sub-account user is different from the account user. One or more controls, placed by the account user, are established on at least one of the sub-account and the at least one sub-account user. The at least one sub-account user is restricted from accessing monetary funds in the monetary account and the account user is permitted to access the sub-account.