Neos ePayments
Get paid by clients, disburse trust and settlement funds, and even pay vendors without leaving Neos.
Everything you need is at your fingertips. Your clients (and your staff!) will thank you for making it effortless to pay and get paid on time.
Use LawPay to receive payments from clients
Get paid faster with less effort. With LawPay, you can:
- Accept online credit card and ACH payments securely and efficiently
- Share links to a LawPay-hosted portal with clients from Neos for both invoices and trust requests
- Set up accounts in the funds tab that are linked to LawPay accounts
- See the payment status (which is updated automatically) in Neos
Disburse funds to clients and pay vendors with a few clicks
Neos’ Digital Disbursements integration allows you to bypass slow, costly, and inefficient trust and settlement disbursements. Why spend time and money on cutting checks when you can send payments via ACH, Zelle, Venmo, or eDebit cards? It’s effortless to track funds and your clients will appreciate more convenient disbursement options.
Watch the video to learn more
What are online disbursements?
An electronic disbursement is any transferring of money to a law firm client by an electronic means. Examples of electronic means include direct deposit, ACH transfer, Zelle, Venmo, CashApp, eDebit card, and more.
Is it legal for firms to disburse funds electronically?
Yes, firms are disbursing money electronically in all 50 states. Electronic disbursements primarily occur in Class Action & Mass Tort cases but are spreading to other areas of law like Bankruptcy.
In their November 1, 2018 amendments to procedural guidance, the Northern District of California suggested that counsel “consider direct deposit for payment distribution in class action settlements to potentially make it easier for class members to collect their benefits.”
Consumers and businesses alike are rapidly embracing online disbursements:
- Digital Disbursements has awarded $10B+ in payments to date
- Zelle routinely sends over $200B per year
- Venmo has over 60M accounts that transfer money electronically at least once per year
- Check processing has declined 45% in the past 10 years as people switch over to digital methods
How does it work in Neos?
Sign up for a Digital Disbursements account through the Neos integration page (click on “Connect” to start your application). Digital Disbursements will then reach out to introduce you to their banking provider, with whom you will need to set up a trust account. Upon settlement, firms will transfer money to their trust account. Once that is complete, you can start disbursing funds from Neos. Your clients can choose from an ACH transfer, Zelle, PayPal, physical debit card, e-Debit card, and Venmo.
Records of the payments will automatically populate in Neos, and you can reconcile settlement fund balances in the platform. Neos users will also be able to track the status of payments to their clients with the new automatically updated “Payment Status” field. When a user requests a payment, the status in Neos will update to “Initiated”; when the payment reaches their account, the status will update to “Successful.”