Xceleran Pay: For individual and small businesses, the most cost-effective attorney-merchant account systems are available, as well as the maximum flexibility for mid- to large-size firms.
Xceleran Pay was the first to offer attorney-specific merchant accounts that keep you in compliance with the American Bar Association and your state’s trust accounting regulations. As pioneers, we are constantly targeted by copycats, but our programs remain the finest and most difficult to match.
When Xceleran Pay is watching your back, you can accept credit cards with confidence
The Inviolability of Your Trust (IOTA, IOLTA) Account Is Recognized by Xceleran.
Your trust account will never be debited. Regarding credit card acceptance and trust accounting compliance, all of our programs comply toward the ABA and your state bar guidelines.
Our products allow you to deposit to both your IOLTA and your operational account for client monies and fees received. Fees will be deducted only from your operational account. This also prevents any complications with commingling. Some businesses have trust accounts in many states but only want fees deducted from a single operational account.
On this, we can easily accommodate you.
Call 877-720-7447 to schedule a demo.
Merchant Accounts with a High Risk
If your legal company serves clients who engage in what the industry deems high-risk activities, your merchant account application may be rejected often. For your high-risk clientele, Xceleran may provide attorney merchant accounts.
Bankruptcy/Debt Repair, Collection, CBD/Hemp/Cannabis, Vape Stores, Travel, Fantasy Leagues, and Offshore merchants are all examples of high-risk enterprises.
You will either be refused a merchant account or charged more than typical costs since these locations have a greater rate of chargebacks and fraud.
A ‘rolling reserve’ may also apply to you. Xceleran will not overcharge you on rates and fees, but will instead provide you a reasonable price. We will not bind you to a contract or charge you a termination fee if you decide to leave.
Surcharges or Convenience Fees
Yes, when accepting credit cards, you may now pass on a percentage of your charges. An antitrust case between merchants and card networks was settled in January 2013. You can charge your customer for that percentage of your charges, as well as the discount and transaction fees. Typically, the discount price ranges from 1.65% to 4.00 percent. Credit and debit cards are affected, but not pin debit cards. Adding a predetermined convenience charge to the transaction is a better method to achieve this. You must inform your clients that you will be charging a convenience charge. Please contact us for a more in-depth discussion.
Ten states and Puerto Rico now prohibit the passing on of transaction costs: Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas. If your state allows the fee, verify with your state’s ethics commission because your Bar Association may not.