This page outlines how to setup your Gravity Legal account and get started accepting payments.
Gravity Legal Onboarding
1. Create a Gravity Legal account by clicking here.
2. When you first login, you will be placed in Settings - Payment Methods. Select the payment methods you would like to accept and click Continue.
3. Complete the application and click Submit.
4. Once you have submitted your information, you will receive an email with your application for e-signature. Once you have signed the packet, we will notify you by email when your account is ready to process payments.
Why do your ask for so much information on the application?
Gravity Legal will move money for your firm, so think of us almost like a bank. We comply with federal anti-money-laundering (AML) and know-your-customer (KYC) regulations. As a result, we ask for certain personal information to verify the ownership or management of the firm.
We ask for bank statements for two reasons. First, we use the statements to double check the accuracy of the deposit bank accounts. If someone makes a mistake typing in the deposit bank account number on the application, the bank statement check is designed to identify this discrepancy and ensure the money goes to the correct bank account. Second, we use bank statements to verify the financial integrity of the firm. This matters because we are underwriting the deposits made by electronic payment into the firm's bank accounts. If for example a firm decided to take $1M into its trust account and then went out of business having spent the money in the trust account, we are responsible for helping the clients who made those payments get their money back. We know this situation is unlikely, but by keeping the cost of fraud low, we can keep costs down for all of our firms.
Why do you need my operating account information if I just want to use Gravity Legal to process deposits into trust?
We help firms comply with the rules of professional conduct by ensuring that no fees or third-party debits are ever removed from a trust account. To accomplish this, we require an operating bank account to deduct processing fees and the unlikely chargeback.
I want to apply for a Gravity Legal account without a personal guarantee.
To apply for a Gravity Legal account without a personal guarantee, you will need to provide additional information on the application. For more details, see this page.