Alternative Merchant Processing has the understanding to handle online credit card processing for law firms, whether privately held firms or large firms with multiple offices around the United States and the world. AMP has had the experience of working within the legal industry and understands the issues with operating accounts and trust accounts and establishing legal credit card processing protocols and procedures for clients to easily pay with Visa, MasterCard, American Express and Discover for their legal services.
Payment processing for law firms is different than traditional processing for your local restaurant or neighborhood retailer and AMP is knowledgeable about the protocol for this industry.
Unlike a standard merchant account, AMP Worldwide 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. Many traditional credit card processors do not understand the difference of these accounts and can create serious accounting issues if this form of processing is not set up correct at the beginning of the payment program. 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 account in order to avoid commingling of client funds.
AMP has experience in this vertical and we will work with your firm to handle your Visa, MasterCard, American Express and Discover processing needs. Risk underwriters and managers have witnessed increase in chargebacks within this industry thus causing banks to become less inclined to approve these merchant accounts unless the officers of the law firm have good credit and potentially will personally sign the merchant application.