Who is the RapidPay Group (“RapidPay”)?

The RapidPay Group (“RapidPay”) is the legal industry’s preferred payments platform. Law firms across Australia, the UK, and US use our platform to help you to pay your legal bill via a variety of options. Learn more about RapidPay here

Who provides the Payment Plans service to me?

Rapid Payment Plans Pty Ltd, ABN 70 634 811 671 (“Rapid Payment Plans”) is the provider of the Payment Plans and is part of the RapidPay Group of companies.

How much does a Payment Plan cost?

You are charged a one-off $10.00* Plan Setup Fee for each Payment Plan. If you miss a payment, late fees may apply. For further information on Payment Plan Terms click here (href needed).

How do we make our money from Payment Plans?

Once your account is approved and your first instalment clears, we pay the law firm in full, and then they pay us a fee for the service.

How does the Payment Plan work?

When you open an account and enter into a Payment Plan, your contract will commence, and you will be sent an email outlining your repayment schedule. Alternatively, or you can access this via your dashboard at any time. You will also be sent an email reminder 24 hours before each payment is due.

We will direct debit from your registered bank account 6 fortnightly instalments (inclusive of an upfront first instalment payment at sign-up), to repay your Payment Plan.

When does my law firm get paid?

Once the Payment Plan is set up and your first instalment has been made, your law firm will be paid in full within 3 business days.

How many Payment Plans can I have?

You can set up multiple Payment Plans within your account subject to approval and a transactional limit of between $350 to $5,000 and a maximum account limit of $10,000. Note each Payment Plan will incur a $10.00 Plan Setup Fee (up to a maximum of $120 per 12 month period).

What happens if I reach my account limit?

When your account maximum is reached and you have paid some of your Payment Plans, you can apply for further credit within your account.

Who can use Payment Plans?

To sign up for a Payment Plan you must:-

  • be an individual of at least 18 years of age.
  • be an Australian citizen or permanent resident.
  • be a client, or prospective client, of a law firm or conveyancing firm.
  • have an Australian bank account.
  • have valid contact details.
  • have a minimum monthly income of $1,500 per month; and

meets our credit assessment criteria. All of the above usually takes less than 5 minutes to complete.

Do you run credit checks?

Yes, RapidPay Payment Plans is designed to comply with the BNPL Code of Conduct and ensure that we lend responsibly. As part of that, we do run a soft credit check on payment requests that are over $1,000.00, however, these are not hard credit enquiries so it will not impact your overall credit score.

How will I know if I get approved?

Our approval process when you open an account is instantaneous and our system will alert you in real time if a Payment Plan within your account is approved or declined.

What happens if I don't get approved?

If you are not approved for a Payment Plan you can still make payment in full by credit card, BPAY or EFT. If you can't pay in full, we recommend you contact your law firm.

What happens if I miss a payment?

In the event you miss an instalment payment, there is a late fee charge of $10.00 per missed payment (up to a maximum cap of $200 per 12 month period).

For example, if you miss a $100.00 instalment payment, you will be charged $110.00 when we re-attempt to process the payment the following day. If the second payment attempt fails, another $10.00 late fee is applicable ($120.00 instalment payment).

We are not in the business of making money from late payments so we will try to contact you before we charge a late fee. If you are going to miss a payment, please get in touch and we will work with you to get back on track.

*All fees quoted are GST Exclusive

Over 1,500 law firms choose RapidPay