Why underwriters look closely at attorneys
Trust account rules
Unearned retainers belong in a client trust account, and in most states bar rules don’t allow processing fees to come out of client funds.
Large retainers
Big upfront payments for future work can be disputed if the client is unhappy with the outcome.
Fee disagreements
A billing disagreement can turn into a chargeback.
A payment setup that fits
How we usually set up law firms. Your consultant tailors it to how you actually sell.
- 1
Two deposit accounts
Retainers deposit to trust and earned fees to operating, with processing fees always taken from operating.
- 2
Online invoice payments
Clients pay invoices from a link, by card or ACH.
- 3
Payment plans
Scheduled payments for clients who need them, with written authorization.
What you’ll need to apply
Have these ready and your application moves faster. Your consultant confirms the exact list for the processor you’re matched with.
- Government ID for every owner with 25% or more
- Voided business check or bank letter
- Recent business bank statements
- Recent processing statements, if available
- Business registration and EIN letter
- Bar license for the responsible attorney
- Trust (IOLTA) and operating account details
- Your engagement letter template
Why applications get declined, and how to avoid it
- Processing fees deducted from the trust account
- Retainers deposited to operating before they are earned
We review your website, policies and statements against these before anything is submitted.
Keeping the account healthy after approval
Getting approved is half the job. These habits keep your account in good standing, and our platform tracks the numbers behind them for you.
- Put fee terms in every engagement letter
- Send itemized invoices before charging
- Reconcile trust deposits every month
Attorneys: common questions
Can we take retainers by card?
Yes. Deposit them to your trust account and have processing fees charged to your operating account.
Can clients pay by bank transfer?
Yes. ACH costs less than cards on large invoices.
Are law firms high risk?
Usually medium. Clear engagement letters and the right trust setup keep things simple.
What happens after I’m approved?
We stay on the account with you, watching fees, approvals and chargebacks, and tell you when there is money to save.