1. A personal financial account management system for payment of a payment transaction related to a purchase by a user comprising: a financial account management system configured for management and administration of a primary account having a plurality of subaccounts, the financial account management system including a prefunded amount for each of the subaccounts within the primary account; and a transaction processing system configured for payment of a sales transaction having a transaction amount and for receiving input including a primary account number PAN and a user selected subaccount indicator from among the plurality of subaccounts to be used for payment of the transaction amount, the transaction processing system configured to transmit the transaction amount, the primary account number and the received subaccount indicator to the financial account management system, wherein the financial account management system is configured for receiving the primary account, the subaccount indicator and the transaction amount, comparing the transaction amount with the prefunded amount associated with the received subaccount indicator, determining an availability of the prefunded amount within the subaccount of the subaccount indicator and transmitting a verification of available prefunded amount to the transaction processing system responsive to a successful determination of availability of prefunded amount and transmitting a lack of funds indication to the transaction processing system responsive to an unsuccessful determination of availability of prefunded amounts.