What bank does Procore Payment Services, Inc. use?
Procore Pay Invoice Management
Answer
Procore Pay with Procore Payment Services, Inc. is a Money Service Business (MSB) and works with tier 1 financial institutions for money transmission from a payor's funding account to the Procore Payment Services (PPS) For Benefit Of (FBO) Account. This transmission is initiated when a member of your team authorizes a disbursement in Procore Pay. Once the funding is transferred to the PPS FBO account, PPS initiates ACH payments to deliver invoice payments to payee beneficiary accounts.
NoteTo learn more about this and other financial institutions that you can implement to support Procore Pay, see How do funds flow between bank accounts with Procore Pay?
To learn more about this and other financial institutions that you can implement to support Procore Pay, see How do funds flow between bank accounts with Procore Pay?