1. A method for conducting a transaction using a money card comprising the steps of: creating a transaction request containing a money card account information, a money card authentication information and a transaction amount; transmitting the transaction request from a merchant to a clearinghouse; determining whether to approve the transaction by verifying the money card account information and the money card authentication information with an account information stored in a database, and determining whether the transaction amount exceeds a credit balance for the money card stored in the database; transmitting a transaction response, which approves or disapproves the transaction, to the merchant; and whenever the transaction is approved, reducing the credit balance for the money card in the database by the transaction amount and reconciling the transaction amount with the merchant.