Open a Deposit Account for Procore Pay as a Payor
Objective
To open a deposit account for Procore Pay as a payor.
Background
To pay invoices with Procore Pay, your company must open at least one (1) deposit account during the implementation process. The Payment Operations team at Procore assists you with that process.
Tips
- What is a deposit account? To learn about the different types of bank accounts you need when sending or receiving invoice payments with Procore, see What are the different types of bank accounts in Procore Pay?
- Does your company require multiple deposit accounts? If your company requires multiple deposit accounts to avoid commingling funds to streamline the reconciliation process and ensure accurate audit results, you can open additional deposit account(s) either during or after Procore Pay implementation process. If your company requires multiple deposit accounts, submit a request to the Payment Operations team at Procore.
Things to Consider
- Required User Permissions:
- When submitting a request to open a deposit account, the Payment Operations will work with your company's authorized individuals.
- To map a deposit account to a funding account: You must be a Payments Admin.
- Requirements:
- You must open at least one (1) deposit account during the Procore Pay implementation process. See What bank does Procore Pay use?
- Additional Information:
- You can open one (1) or more deposit accounts. Submit requests to the Payment Operations team.
- At least one (1) deposit account is required to add a funding account to Procore.
- One (1) deposit account can be mapped to multiple funding accounts.
Steps
To request to open a new deposit account:
- Send an email message to the email address on this page. See Contact Payment Operations.
Note
- When the Payment Operations team receives your request, they will send you the forms you need to open an account.
Once your new deposit account is open, you can Add Funding Accounts.