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Procore Pay Beneficiary Ownership Verification Beta User Guide

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What is Beneficiary Ownership Verification?

This feature introduces a mandatory ownership verification workflow for subcontractor (Payee) bank accounts on Procore Pay. By requiring General Contractors (GCs) to actively verify accounts using either an ACH Micro-Deposit or a Last-4 Digit confirmation, it prevents impersonation fraud and secures payment disbursements.

Key Benefits

  • Enhanced Security: Requiring proof of account controls provides further evidence that  payments will reach verified trade partners.

  • Flexible Verification: Choose between confirming with the last-4 digits of the payee’s account or a micro-deposit process.

Beta Participation & Feedback

Important

As this is a Closed Beta release, some features may be subject to change. Your feedback is critical to the final development of this tool.

  • How to Access: To enable the feature, reach out to your Procore Point of Contact.

  • How to Provide Feedback: Send your feedback directly to your Procore Point of Contact.

  • Support: For blocking bugs or verification lockouts, submit a ticket to the Procore Support team or contact your Procore Pay implementation specialist.

Permissions & Prerequisites

Before you begin, ensure you have the correct permissions.

  • Required Tool: Procore Pay must be active on your account.

  • User Permissions:

    • Admin (Payor Admin): Can initiate micro-deposits, enter verification amounts, confirm Last-4 digits, and manage beneficiary payment approvals.

    • Standard / Read-Only: Can view beneficiary status but cannot perform verification or approve payees.

Step-by-Step Walkthrough

Method A: ACH Micro-Deposit Verification

  1. Initiate: Procore automatically triggers a micro-deposit (random amount <$1.00) into the subcontractor’s account once bank screening completes.

  2. Notify & Contact: Once funds settle, you will receive an email notification. Contact the subcontractor via phone (avoid email to mitigate interception risks) to request the exact deposit amount.

  3. Verify: Navigate to the Beneficiaries tab in the company level Payments tool, select the payee, and enter the exact amount reported by the subcontractor.

  4. Complete: A matching amount updates the beneficiary status to Approved for Payment.

Method B: Last-4 Digit Confirmation

  1. Initiate: Select the subcontractor's pending profile in the Beneficiaries tab of the company level Payments tool.

  2. Confirm: Call the subcontractor to verbally verify the last 4 digits of their added bank account.

  3. Complete: Enter the 4 digits into the prompt. Upon confirmation, the beneficiary is approved immediately without waiting for ACH settlement.

Frequently Asked Questions

  • Will this affect my existing active connections?
    No, existing active GC-Sub connections are grandfathered in and will not require re-verification.

  • Does this work on the Procore Mobile App?
    No, this is a web-only feature for the current release.

  • Can the Subcontractor enter the deposit amount themselves?
    No. The system intentionally requires the GC to enter the amount to maintain an off-platform human verification step.

Known Limitations

Please note the following Limitations:

  • ACH Settlement Delay: Micro-deposits typically require 1 to 3 business days to clear in the subcontractor's bank account before verification can occur.

  • Mobile Support: Mobile app management is currently unavailable; all verification actions must be completed on the web UI.

See Also