Set a Default Funding Account as a Payor

Objective

To set the default funding account for Procore Pay as a Payments Admin. 

Background

With Procore Pay, your company's Payments Admin can add one or multiple funding accounts in the payor environment. A funding account is the bank account from which the drawdown funding is requested to pay a disbursement. A company can have multiple funding accounts. A company can designate one (1) of those accounts to be your company's default funding account for new disbursements. A Payments Admin can designate a different account to be the default account at any time. 

Things to Consider

• Required User Permissions
• Additional Information:
  • Accounts must be in the 'Verified' status to be set as the default funding account. 
  • The first funding account that you add to the Payments tool is automatically set as the default funding account after verification is successful. 
  • Before you can deactivate a default funding account, you must use the steps below to designate another account as the default account. 

Prerequisites

• Add Funding Accounts

Steps

1. Navigate to the Company level Payments tool.
2. Click the Payments Settings  icon.
   This opens the Payments Settings page. The Funding Accounts tab is active by default. 
3. Locate the bank account to designate as your company's default funding account. 
4. Click the Overflow menu and choose Set as Default Funding Account.
   
   
   
   The account is marked Default and moves to the top of the Funding Accounts list. 
   

    Tip

   Can I deactivate our default account at a later time? No. The default account cannot be deactivated in Procore. To deactivate an account, you must first remove the account's default designation by assigning it to a different account. See Deactivate Funding Accounts.

See Also

• Manage Bank Accounts