Like any business, Lawyers have monetary needs like all merchants, to collect their income as quickly and expeditiously as possible. So, it’s not a stretch to learn they use some merchant accounts to accept payments from their clients with a debit or credit transaction.
What kind to use
Some companies have separated their business out and made it specific for the legal fees and attorney fees. They will put the money into any account the law firm has designated, but at the end of the month, they collect their fees from the operating account of the firm.
They’ve made it possible to have a trust account to put money into for future use, and an operating account for paying out the fees.
Many across the country exist and are used widely by many firms. Although, some attorneys have made a point to continue using merchant accounts such as PayPal, for the ease of their programming.
Some of the merchant accounts have gone so far as to have readers for the attorneys to take to the client. They are collecting on the spot with the iPhone, iPad, or Android device, for those hard-to-find clients that don’t have a current address.
Some states are still not clicking in with their bar associations and keeping the merchant accounts on the down low for the time being. But with some time, each state will make an appropriation for the technology that feeds the nation’s accounts.
Do a lot of research if you have chosen an attorney for short-term work online. And if you are an attorney and you need a merchant account, of course, do your search for what may be the best for you. Check here for a list of online merchant accounts that are suited for the legal profession:
There will always be customers that can pay right after the legal work has been done and these merchant accounts are perfect for those customers. Come to think of it, even the customer that needs to make payments, merchant accounts work well for over-the-phone payments, and check-by-phone payments.
Even though there aren’t as many high-risk merchant accounts set up for attorneys and their legal fees, they are out there. Even a simple merchant account set up with PayPal will do the trick. The simple fact is, that a little leg work will find the right one for your firm. A simple flick of the wrist and slide of the card will bring the money right into the account you designate.
The continual flow of income keeps the business going, makes the partners happy, and keeps the economy flowing. With life, in general, going in the positive direction, everything that comes around goes around. Meaning, you get paid, then you can pay your bills and they can pay their bills, and so on. The cycle continues and it keeps everyone busy and things copasetic.