No attorney would suggest to a client that the decision to hire one attorney over another should be based solely on the client's ability to pay a large retainer. However, an astute client will make this an important factor in his hiring decision. The attorney can often be faced with the choice of significantly reducing her retainer requirement or rejecting the client. Neither of which are desirable choices. Another alternative to this scenario is accepting credit card payments for attorney fees.
Contact your local county or city bar association to determine if there are benefits included with voluntary membership, such as a reduction to the merchant fee for credit card processing.
Determine your state bar's position on the need for multiple credit card payment accounts to distinguish payments for retainers and payments for earned fees. Client funds (i.e. retainer payments) may never become commingled with the attorney's funds (i.e. earned fees).
Establish a merchant credit card account for your practice. Some newer companies offer the option of obtaining credit card approval over your wireless phone, without the need for a separate credit card processing terminal.
Check with your state's bar association for any written opinions or general statements regarding accepting credit card payments for attorney fees. A good starting point is the website for the state bar, which will most likely contain its ethical opinions and law office management articles.
Revise your advertising, website and business cards to indicate your policy of accepting credit card payments. This will distinguish your practice from law firms that do not accept this type of payment.
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