Can the law firm accept payments from clients by way of debit card or credit card? How should this be established?
Yes, a law firm can accept payments by means of debit and credit cards. If payments will be received for both trust and general funds, the Law Society requests that two credit card machines be set up, one on each bank account, to receive these funds. All service charges relating to these payments must be paid from the law firm’s general bank account. If the law firm is not able to set up two separate machines, these payments can be received directly into the law firm’s trust account with all related service charges being paid from the law firm’s general bank account. Then, if funds are received related to the payment of a statement of account, they should be expeditiously transferred from the trust account to the general account.
