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Procore

What bank does Procore Payment Services, Inc. use?

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 Important: Procore Internal Use Only

Author Notes:

flag-us.png Procore Pay icon-external-link.png  is available in the United States. It is designed for General Contractors and Owner-Builders who act as their own General Contractors on a job. Procore Pay extends the Invoice Management icon-external-link.png functionality in the Procore web application to handle the payment process between general and specialty contractors.

Answer

Procore Pay with Procore Payment Services, Inc. icon-external-link.png  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. This transmission is initiated when a member of your team authorizes a disbursement in Procore Pay. Once the funding is transferred to the PPS FBO account, PPS initiates ACH payments to deliver invoice payments to payee beneficiary accounts.

 Note
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?

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