This release contains updates for simplified surcharging, refunds, deposits, and reporting.
Your account is being transitioned to our latest platform configuration, which includes a number of improvements.
Surcharge amounts paid by clients are now withheld and automatically applied toward your monthly statement.
Previously, surcharge amounts were deposited into your operating account throughout the month and then collected again during end-of-month billing. The new process eliminates that extra accounting step and reduces the amount due on your monthly statement.
When refunding trust payments, funds can now be pulled directly from your trust account while processing fees continue to be protected from trust debits.
For example, if a client makes a $5,000 trust payment and later requires a $1,500 refund, that refund will now come directly from trust instead of your operating account.
You can now view the processing cost associated with each individual transaction.
Instead of only seeing a monthly fee total, you'll have payment-level visibility into fees, including surcharged transactions where the fee owed is $0.00 when applicable.
Monthly statements will now be available on the 1st of each month, with fee debits occurring on the 2nd or 3rd.
You'll also be able to view your statement throughout the month as fees accrue, giving you greater visibility before any debit occurs.
Deposit Reports are now transaction-based rather than timing-based, providing a more accurate breakdown of the transactions included in each deposit batch.
These updates are designed to make payment processing more transparent, reliable, and efficient while laying the foundation for future enhancements.
If you have any questions regarding these updates or the revised Terms & Conditions, our support team is happy to help at support@confidolegal.com