Lex/Actum is a credit card payment processing solution just for law firms. You can accept online, mobile, in-person, and phone payments, and separate payments into operating and trust accounts.
Monthly flat-rate pricing. Lex/Actum has a slightly different pricing scheme from most payment processors. Rather than a percentage per transaction (typically anywhere from 2% to 3.5% of each transaction) and an additional per-transaction fee (usually around 15-30 cents), Lex/Actum forgoes the former in favor of a flat monthly fee. That fee is based on how much transaction volume your firm processes each month plus fixed costs that are set by and paid to Visa, MasterCard, Discover, and American Express.
Trust account separation. Lex/Actum will automatically separate credit card payments into operating and trust accounts. All of their pricing tiers include separate accounts for operating and trust matters. All credit card processing fees are deducted from the operating account so that your firm can remain trust account compliant.
Real-time data. You can see real-time updates of all payment activity. Lex/Actum’s reporting features allow you to see your transactions, batches, deposits, and monthly statements around the clock.
Lex/Actum bases its prices on the volume of transactions processed each month. All pricing tiers include the ability to separate transactions
- $29/month for processing volume up to $10,000 per month and an additional $0.25 per transaction. eChecks/ACH cost $2.00/transaction at this tier.
- $49/month for processing volume up to $40,000 per month and an additional $0.10 per transaction. eChecks cost $1.50/transaction and you’ll receive Lex/Actum’s invoicing software at this tier.
- $69/month for processing volume up to $60,000 per month and an additional $0.10 per transaction.eChecks cost $1.50/transaction and you’ll receive it’s invoicing software at this tier.
- $99/month for unlimited processing volume and an additional $0.10 per transaction. eChecks cost $1.50/transaction and you’ll receive Lex/Actum’s invoicing software at this tier.
|Starting Monthly Fee||$29.00|
|Starting Processing Fee||$0.25|
|Support||24 hours via phone and online|
|Accepts Major Credit Cards||✓|
|Trust Account Compliance||✓|
Things You Might Want to Know
Security. Lex/Actum states that it is Payment Card Industry (PCI-DSS) compliant. PCI standards apply to the credit card industry.
Apps and Integrations. Lex/Actum doesn’t integrate with any other software, which means you will have to transfer data out of the program if needed manually. It doesn’t have iOS or Android apps.
Who Lex/Actum Is For
Because Lex/Actum allows you to separate your credit card payments into operating and trust accounts, it is a good choice for law firms generally. Firms that want more predictable monthly costs will appreciate the semi-flat rate pricing structure. However, the lack of integrations and mobile apps may be limiting to some firms.