Unlike a standard merchant account, LawPay offers account options structured to handle the unique requirements of an attorney-client transaction. When your client pays by credit card, funds are immediately separated into trust and operating accounts as required by the ABA Code of Professional Conduct and most state bar guidelines on trust accounting. Payments for earned fees are deposited into the firm operating account. Payments identified as unearned fees, retainers or advanced fees of any kind are deposited to the firm trust or IOLTA account in order to avoid commingling of client funds.
The LawPay solution is designed to correctly separate earned and unearned fees to avoid commingling funds when accepting credit card payments. More importantly, LawPay contractually protects your client funds by restricting the ability of any third-party from debiting monies from a Trust or IOLTA account. LawPay works with over 90 bar associations across the country, including the American Bar Association, to ensure our program is up-to-date and in compliance. Learn More