Frequently Asked Questions
What is ATTY Financial?
ATTY is a digital banking platform designed specifically for attorneys and law firms. It offers complete visibility into all your accounts, integrates seamlessly with legal technology tools, and provides real-time insights into your firm’s finances. Our platform simplifies the management of business and trust accounts, allowing you to focus on serving your clients while we handle the financial side of your practice. Our core services include:
- Business Banking: Custom business accounts for law firms with easy integration of technology and reporting tools.
- Trust Account Management: Specialized IOLTA and client trust accounts designed for compliance and easy management.
- Lending Solutions: Access to loans tailored for law firms, including working capital loans, practice growth loans, and case funding options.
- Concierge Banking: A dedicated team of experts to guide you through onboarding, account management, and any financial challenges you may encounter.
How is ATTY Financial different?
Traditional banks are generalists. ATTY Financial is a specialist. We focus solely on the legal profession, offering banking solutions designed specifically for solo attorneys and small to mid-sized law firms. We understand the unique challenges law firms face and offer personalized, concierge-level service and technology to help you simplify the business behind your practice.
Who does ATTY Financial serve?
We serve attorneys across all practice areas, from newly licensed professionals to established firms. ATTY Financial provides banking solutions to scale your needs. ATTY Financial caters to solo practitioners and small to mid-sized law firms. We provide flexible, banking services tailored to meet the needs of your firm.
Who is the bank behind ATTY Financial?
In partnership with ATTY Financial, First Bankers Trust Company, N.A. offers a full range of FDIC-insured banking services while providing specialized solutions designed exclusively for law firms.
What does it cost?
ATTY Financial is designed to be a no-cost platform. Your deposits and those your clients entrust with you are valuable resources for ATTY Financial. By specializing in, and focusing solely on your industry, we know we can provide a much better experience, while providing more value to our customers. ATTY Financial offers no monthly fees for basic business accounts. However, premium plans with additional features—such as higher interest rates and personalized financial consultations—may have nominal fees. Speak with our team to determine the options, features, and pricing best suited for your firm’s needs.
Does ATTY Financial have physical branch locations?
Our customers have access to our robust online and mobile banking platform to manage accounts, along with a dedicated team of concierge bankers to assist with any needs. While ATTY Financial does not have physical branch locations, our customers can visit any one of nine physical branch locations of our partner bank – First Bankers Trust Company.
What are the benefits of a digital bank versus traditional bank?
Digital banking offers 24/7 access, faster service, enhanced security, and reduced reliance on physical branches. ATTY Financial's digital platform streamlines everything from IOLTA reconciliation to business loans, saving you time and giving you access to best-in-class banking tools designed for legal professionals.
How do I get started with ATTY Financial?
Opening an account is easy! Simply visit our website and complete the online application. We handle the paperwork and switching of your accounts, making it a seamless transition. Our platform allows you to transfer funds, set up additional accounts, and switch automatic payments quickly. A dedicated concierge banker will guide you through each step to ensure a smooth transition.
Can I keep my current bank accounts, or do I have to open ones with ATTY Financial?
You can keep your current bank accounts while opening new accounts with ATTY Financial. Our platform allows you to view and manage multiple accounts across different financial institutions through our best-in-class platform and integrations.
Do I need to move all my accounts to ATTY Financial to use it?
No. While having all accounts on the ATTY Financial platform provides the greatest amount of efficiency and leverage of our tools and resources, our best-in-class integrations will still allow you to manage accounts from multiple institutions in our platform.
Does ATTY Financial have ATMs near me?
Yes! ATTY Financial uses the MoneyPass nationwide network, featuring over 32,000 ATM locations. Using the MoneyPass Network ATMs, you can withdraw money and make cash deposits at no charge.
Can I open a new business account while keeping my exisiting account open?
Yes, ATTY Financial allows you to open new accounts while keeping your existing accounts opened. You can transfer balances gradually or use both accounts in parallel, depending on your firm’s needs.
How can I fund my ATTY Financial account?
You can deposit funds using the ATTY Financial mobile app, direct deposit, wire transfer, or by visiting any First Bankers Trust branch.
How do I make a deposit?
Checks can be deposited through the ATTY Financial mobile app. Cash deposits can be made at any MoneyPass Network ATM or First Bankers Trust branch.
How long before my funds are available after I deposit a check?
Funds from mobile check deposits are typically available within 1-2 business days, depending on the time of deposit.
Can ATTY Financial help me manage my IOLTA or client trust accounts?
Yes, ATTY Financial provides specialized trust account solutions, including IOLTA
accounts, that help ensure compliance with state bar regulations. Our platform is
designed to simplify tracking of transactions within client matters, accurately report
all activity, and reconciling trust account funds, saving you time and reducing risk.
Click here to learn more about our 3-way trust reconciliation feature.
I don’t maintain client trust accounts (IOLA/IOLTA). Can I still use ATTY
Financial?
Yes, ATTY Financial is designed for the legal community. We offer a number of features and solutions that designed to be tailored to the specific use case of the law
firm user.
How does ATTY Financial ensure compliance with trust account regulations?
Our trust account solutions are designed to meet the highest standards of compliance. We provide detailed reporting and reconciliation tools, making it easy to manage IOLTA and other client trust accounts while adhering to state bar requirements. Additionally, our team is regularly communicating with the regulatory body in each state to ensure all standards are met.
Does ATTY Financial offer loans for law firms and attorneys?
Yes, we provide a range of lending options designed specifically for law firms and attorneys, including:
- Safety Line of Credit
- Working Capital Line of Credit
- Commercial Real Estate Financing
- Partner Buy In/Buy Out
- Firm Startup Financing
- Case Financing
- Unsecured Personal Loan
- Student Loan Refinance
- Mortgages
- Home Equity Loan
- Auto Loan
- Debt Consolidation
We offer flexible terms and competitive rates. Contact us to learn more.
Does ATTY Financial offer SBA loans?
ATTY Financial is partnered with SBAWorx, the nation’s leading SBA Lender Service
Provider. SBAWorx can identify, source, and facilitate the closing of your firm’s SBA
loan needs.
What is the minimum and maximum I can borrow?
The minimums and maximums for loan amounts vary by product. Our team will
consult with your firm regarding its needs and goals and create a solution that helps
you advance your objectives.
What makes your concierge banking service different?
Our concierge banking service offers personalized attention from a dedicated team who understands the unique needs of law firms. From onboarding to ongoing support, we handle the details so you can focus on practicing law. Whether it's setting up accounts, navigating trust account compliance, or providing lending solutions, we are here to help.
How can I contact ATTY Financial if I need help?
Once you open an account, you’ll be assigned a dedicated point of contact for any issues or questions you may have.
Can I use my account immediately after opening?
Yes, depending on the method of funding your account during the opening and onboarding process, there may be a short hold on certain deposits.
What is bill pay and how does it work?
Bill pay is a service that allows you to electronically pay bills from your ATTY Financial account using the ATTY Financial platform. Bill pay helps your firm save time and effort by avoiding the time-consuming process of writing checks or visiting multiple websites to pay bills manually.
How do I enroll in digital banking?
ATTY Financial will work with you to automatically enroll your firm in digital banking upon account opening.
Does ATTY Financial have a mobile app?
Yes! Download the ATTY Financial app via Apple Device or Android Device.
How do I connect my ATTY Financial account to my external accounts?
Once logged in to ATTY Financial, follow the steps accordingly to "Link External Accounts" via Plaid.
Does ATTY Financial with my existing accounting software?
Yes, ATTY Financial is designed to work with many of the popular accounting systems used by law firms including QuickBooks. This allows for streamlined management of your finances and better integration with your current workflows.
How secure in my personal information and my ATTY Financial account?
ATTY Financial uses industry-leading encryption, cybersecurity, and authentication measures to protect access to your account, your data, and your financial transactions.
Is my money safe with ATTY Financial?
Yes, all deposit accounts are FDIC insured up to the legal limit of 250K per account, providing peace of mind that your funds are safe. For those customers with account balances in excess of the FDIC limit, ATTY Financial, in partnership with First Bankers Trust Company, N.A., Member FDIC, uses the Insured Cash Sweep (ICS) service to protect those balances by dividing the funds into smaller amounts and distributing them across a network of partner banks.
What should I do if my personal or banking information is compromised?
Contact ATTY Financial immediately if you suspect your information has been
compromised. We will work with you to secure your accounts and investigate any
suspicious activity.
What do I do if my debit card is lost or stolen?
Contact us immediately to report the loss. Our team will work to cancel the card and process a replacement. Our concierge team will also help monitor your account for any suspicious activity.
Where do I find my account number and the ATTY Financial routing number?
Within digital banking, select "More" and then select "Routing Number."
How do I securely share account access with additional users?
You can securely share account access with authorized users, such as office managers or accountants, through the ATTY platform. Customizable access levels ensure sensitive information is protected while maintaining efficiency.