deduction management system

An automatic payroll deduction system, and more specifically to a web-dependent self-administered automatic payroll deduction system that may include a web service automatic payroll deduction setup feature and/or a web service eligibility check feature. The system uses existing payroll networks and electronic communication media for automatic payroll deductions to create a more efficient consumer finance model. The system will integrate with existing payroll system across different companies through an API. The system is directed to a method for allowing an employee to self-administer automatic payroll deductions from his gross pay through a money management system. Preferably, the employee (who is employed by an employer having a payroll system with automatic payroll deduction capabilities) self-registers in the money management system. Preferably, the employee self-submits his registration request via the web. Then, the employee may submit at least one transaction request to facilitate a financial obligation to at least one vendor. The system then arranges for payment of the financial obligation through the payroll system. The system then directs the payroll system to withdraw funds from the employee's gross pay using at least one automatic payroll deduction and directs the payroll system to transfer the withdrawn funds to the at least one vendor.