Set a Default Funding Account as a Payor
General Availability in Select Markets (United States)
Procore Pay ![icon-external-link.png](https://support.procore.com/@api/deki/files/186764/icon-external-link.png?revision=2&size=bestfit&width=14&height=14)
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](https://support.procore.com/@api/deki/files/186764/icon-external-link.png?revision=2&size=bestfit&width=14&height=14)
functionality in the Procore web application to handle the payment process between general and specialty contractors.
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.
Steps
- Navigate to the Company level Payments tool.
- Click the Payments Settings
icon.
This opens the Payments Settings page. The Funding Accounts tab is active by default.
- Locate the bank account to designate as your company's default funding account.
- Click the Overflow menu and choose Set as Default Funding Account.
![set-as-default-funding-account.png](https://support.procore.com/@api/deki/files/412054/set-as-default-funding-account.png?revision=1)
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.