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Frequently asked questions about Confido Legal Disbursements answered
Q: What disbursement methods do you support?
A: We support sending disbursements by traditional ACH bank transfers and instantly with push-to-card or Zelle. Push-to-card allows the recipient to accept disbursements into their bank account instantly using their debit card and funds are available in seconds.
Digital pre-paid cards, Venmo, PayPal and more payment methods are launching soon.
Q: Does it cost the recipient anything to accept the disbursement?
A: The recipient may choose a free-to-them payment method like ACH bank transfers, which will deposit their funds in 5-7 days. The recipient may choose to pay a small fee to receive their funds in seconds.
Q: What is the pricing for my firm?
A: You can choose between two pricing options: A la carte pricing per disbursement or a flat monthly fee for unlimited disbursements.
- $1.50 per disbursement.
- $39.00 per month for unlimited disbursements.
Q: Are there limits to how much we can disburse?
A: Yes, we will set specific limits on your account. Our goal is to work with you to support the disbursement volume you need while managing our financial risk.
Transaction limits will vary based on the method of disbursement.
Q: How do you ensure disbursements go to the right recipient?
A: On the recipient side of the transaction, we use multifactor authentication. Only someone with access to the client's email and phone can unlock the disbursement. Disbursements are sent using non-indexed, secure links to prevent unauthorized access to the authentication step.
On the firm side, when creating the transaction, only administrators on your Confido Legal account may approve disbursements.
In addition, firms may enable Confido's Enhanced Security on certain transactions. Enhanced Security is our proprietary layer of additional verification, specifically designed to prevent someone with inside access to the plaintiff's personal information from accessing the money.
Q: What if the recipient enters the wrong banking information?
A: Clients have the option to log in to their online banking platform through Plaid to accept the disbursement. This helps reduce the chances that a client will enter incorrect banking information.
Ultimately, submitting incorrect banking details will typically result in an ACH return from the recipient's bank, at which point the disbursement link will reactivate and the funds will be returned to your firm's bank account.
Q: Can I use Disbursements to pay vendors or other third parties?
A: Yes, you can pay clients, vendors or other third parties through disbursements.
Q: Can I automate recurring payments?
A: Yes, the platform supports recurring disbursements for ongoing cases such as workers' compensation claims and structured settlements.
Q: What about the rules of professional conduct?
A: Our disbursements platform was built with the rules of professional conduct in mind. Several key aspects of the platform ensure you comply with the ethics rules in your state:
- Although any user in your Confido Legal account can create draft disbursements, an administrator on the account must approve each disbursement for money to move and your trust account to be debited. This gives you the power to decide who can approve disbursements.
- We track who at your firm drafted and approved each disbursement for your recordkeeping purposes.
- Each disbursement in Confido Legal has a unique ID number that can be used to identify and track the disbursement.
- Each disbursement can be tied to a client record. The disbursement may be optionally tied to a matter record as well or a verified contact method in the case of a vendor or third party.
- Clients have the option to accept disbursements for free. For any transactions where the client is charged for faster access to their funds, we charge a reasonable fee in line with other money transfer services.
Q: How secure is Confido Legal?
A: For more details on our security procedures, refer to this article.