Can I make deposits to a trust account via credit card?
Before allowing a client to make a Trust payment with a credit card, please check your State Bar Association regulations. Due to differences in State Bar regulations regarding accepting credit card payments for Trust deposits, Tabs3 Credit Card Authorization does not support deposits to Trust via credit card. If this is an allowed practice in your state, you can enter the deposit in Tabs3 or TAS, and then process the credit card directly on the FNMS’s PayFuse website. However, depending on State Bar regulations, you will need to maintain a separate merchant account for Trust deposits. It is critical that trust funds are not deposited into the same bank account as your firm’s general account.
Related Questions
- If an attorney deposits a check into a trust account is there a set period of time they must wait before issuing checks drawn on those funds?
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- Can I make deposits to a trust account via credit card?
