Inside Track: OLR Now Allows Remote Deposits to Credit Card Trust Accounts:

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  • Inside Track
    June
    05
    2013

    OLR Now Allows Remote Deposits to Credit Card Trust Accounts

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    The Office of Lawyer Regulation now allows lawyers to deposit client checks electronically. State Bar members can deposit checks and money orders electronically through Remote Deposit Capture from banks or independent processors, including iStream Financial Services.

    June 5, 2013 – The Office of Lawyer Regulation (OLR) has authorized Wisconsin lawyers to deposit client checks for advanced fees and costs into the Credit Card Trust Account by remote deposit. Previously, the only Internet transactions authorized by OLR were credit card payments into the Credit Card Trust Account.

    Remote depositing allows lawyers to make check deposits electronically, without physically visiting the financial institution that houses lawyer and law firm accounts. Checks are scanned at the office, and the information is transmitted to the bank over the Internet.

    If your bank does not offer this service you can use an independent processor. iStream Financial Services is a State Bar affinity program provider that offers remote deposit services that work with your current bank. iStream’s software is easy to use and catches errors on checks before they are deposited. Members can keep the relationships they already have with their banks.

    The State Bar has offered iStream Remote Deposit Capture as a member benefit since June 2009. Learn more about iStream Financial Services.