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Also, Stripe and others automatically deduct their fees off the top of the payment and deposit only the balance. Because my law firm collects retainers and holds the clients' monies in escrow/trust, we cannot deduct fees from the payments. We need a system that deposits the entire payment into our escrow account and then deducts the fees from our operating account. That's the only way we can remain in compliance (and be ethically correct too). My old swipe POS provider permitted that setup to two accounts, but I've found online processors don't (except LawPay).

Also, Stripe and others automatically deduct their fees off the top of the payment and deposit only the balance. Because my law firm collects retainers and holds the clients' monies in escrow/trust, we cannot deduct fees from the payments. We need a system that deposits the entire payment into our escrow account and then deducts the fees from our operating account. That's the only way we can remain in compliance (and be ethically correct too). My old swipe POS provider permitted that setup to two accounts, but I've found online processors don't (except LawPay).

Hi Paul, great question. Stripe specifically excludes attorney escrow/retainer payments as does PayPal. They only allow use for payments for legal services already rendered. My law firm works on a retainer basis, we hold the client's retainer monies in escrow and bill against them. This setup is prohibited by Stripe & PayPay (and most other online payment processor's I've checked in to), thus LawPay has filled the gap and created a method that complies with ABA rules, local Bar rules, and the legal retainer payment method.

Hi Paul, great question. Stripe specifically excludes attorney escrow/retainer payments as does PayPal. They only allow use for payments for legal services already rendered. My law firm works on a retainer basis, we hold the client's retainer monies in escrow and bill against them. This setup is prohibited by Stripe & PayPay (and most other online payment processor's I've checked in to), thus LawPay has filled the gap and created a method that complies with ABA rules, local Bar rules, and the legal retainer payment method.

I would like to use LawPay to accept online payments via my law firm website. Is anyone doing this? Is there anything I need to know about install or use? TIA