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- https://support.procore.com/products/online/procore-pay/faq/can-i-stop-procore-pay-payment-processing-once-it-startsProcore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. To ensure smooth transactions and preve...Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. To ensure smooth transactions and prevent payment issues, advise your teams and collaborators to verify all payment details in Procore Pay before authorizing disbursements.
- https://support.procore.com/products/online/procore-pay/faq/what-are-procore-pays-payment-processing-deadlinesProcore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. Depending on when your bank honors the ...Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. Depending on when your bank honors the drawdown request, allow 1-2 business days for the funds to transfer and for payments to be delivered to your payees. Executing Payment Orders: Settled funds must be received by Procore Payment Services, Inc., by 7:00 PM ET for payment orders to be processed and sent as next day payments.
- https://support.procore.com/products/online/procore-pay/faq/how-do-funds-flow-between-bank-accounts-with-procore-payDescribes how funds flow between bank accounts with Procore Pay when creating and authorizing disbursements.
- https://support.procore.com/products/online/procore-pay/faq/are-payments-made-through-procore-pay-insuredPPS is not an insured institution and FDIC insurance does not protect you against risks associated with PPS's failure. [(However, we believe that in the unlikely event of PPS’s insolvency that a bankr...PPS is not an insured institution and FDIC insurance does not protect you against risks associated with PPS's failure. [(However, we believe that in the unlikely event of PPS’s insolvency that a bankruptcy court likely would determine that the funds in the custodial account are the property of PPS’s customers, and that these funds would not be placed in the bankruptcy estate to satisfy claims of PPS's general creditors.)]
- https://support.procore.com/products/online/procore-pay/faq/can-we-use-different-bank-accounts-to-fund-procore-pay-disbursementsProcore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. When payors operate multiple business d...Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors. When payors operate multiple business divisions or have multiple checking accounts, add the account(s) to Procore Pay and configure them for each appropriate business entity. Set up bank accounts for each of your business entities in Procore Pay: Add Business Entities as a Payor
- https://support.procore.com/products/online/procore-pay/faq/how-does-procore-pay-collect-secure-and-verify-sensitive-informationProcore utilizes established financial institutions and industry-leading FinTech companies to conduct thorough business and identity checks against reliable sources, helping ensure compliance with Kno...Procore utilizes established financial institutions and industry-leading FinTech companies to conduct thorough business and identity checks against reliable sources, helping ensure compliance with Know Your Business (KYB) and Know Your Customer (KYC) regulations. Procore Pay maintains a fraud monitoring program and is included in the feature design measures in the feature design measures to help reduce the risk of fraud.
- https://support.procore.com/products/online/procore-pay/faq/why-does-procore-pay-collect-business-ownership-detailsA business controller is an individual or entity who owns at least 10% of a business and influences business decisions, such as an officer or director. For payors using Procore Pay, your company is re...A business controller is an individual or entity who owns at least 10% of a business and influences business decisions, such as an officer or director. For payors using Procore Pay, your company is responsible for maintaining accurate information on the 'Business Entities' page within the Payments Settings of the Company level Payments tool. To learn how Procore Pay protects privacy and security, see How does Procore Pay collect, secure, and verify sensitive information?
- https://support.procore.com/products/online/procore-pay/faq/what-bank-does-procore-payment-services-inc-useis a Money Service Business (MSB) and works with tier 1 financial institutions for money transmission from a payor's funding account to the Procore Payment Services (PPS) For Benefit Of (FBO) Account....is a Money Service Business (MSB) and works with tier 1 financial institutions for money transmission from a payor's funding account to the Procore Payment Services (PPS) For Benefit Of (FBO) Account. To learn more about this and other financial institutions that you can implement to support Procore Pay, see How do funds flow between bank accounts with Procore Pay?
- https://support.procore.com/products/online/user-guide/company-level/payments/tutorials/manage-business-entities-as-a-payorHow to manage business entities as a payor with Procore Pay.