• Pricing

Can funds deposit to a Trust account while fees are withdrawn from an Operating account?

We understand that special rules exist for certain business types like lawyers. Often times, payments made to a lawyer must be deposited to a Trust bank account. Additionally, it is crucial that the Trust account is not accessed for any other reason, like billing. PayJunction is specifically designed to accommodate this scenario. This type of setup is commonly referred to as Split Checking. We ensure that all deposits are sent to a Trust bank account, while all fees are charged from the Operating bank account.  For instance, this is how deposits and fees are handled for accounts with Split Checking:

  • Trust Bank Account:
    • Transactions are deposited.
    • Refunds are withdrawn.
  • Operating Bank Account:
    • Fees are withdrawn.
    • Chargebacks are withdrawn.

Additionally, we often work with lawyers that accept payments that are not required to be sent to a Trust bank account. In this case, the Operating bank account is used for payments and withdrawals. 

However, if an attorney needs the ability to deposit payments to a Trust account and also deposit payments to an Operating account, PayJunction supports the ability to do this as well. One merchant account is specifically setup with Split Checking, as explained above. An additional merchant account is setup to process normally (without Split Checking). Both merchant accounts can be accessed within the same PayJunction account. The person that's taking the payment simply selects which account the payment needs to go to (Trust or Operating).