Open a Deposit Account for Procore Pay as a Payor

Objective

To open a deposit account for Procore Pay as a payor. 

Background

To ensure a streamlined and efficient payment process, your company must have a (1) funding account and a (2) deposit account. Procore Pay differentiates these accounts to enable clear allocation and management of funds. During implementation, the payor must open at least one (1) deposit account, with assistance from Procore's Payment Operations team. 

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?
  • To learn how funds flow, see How do funds flow between bank accounts with Procore Pay?
• 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:

1. Send an email message to the email address on this page. See Contact Payment Operations.

    Note

   When contacting support:

   • Please don't include sensitive financial information, such as routing or bank account numbers. 
   • Please include your name, company name, and inquiry. 
2. 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. 

Next Steps

• Add Funding Accounts

See Also

• Manage Procore Pay Bank Accounts