Launching May 19. Procore Pay now features a robust, mandatory ownership verification workflow for all subcontractor (Payee) bank accounts. General Contractors (GCs) can now verify bank accounts using two secure methods: an ACH micro-deposit process—where a small, random amount is deposited for confirmation—or a manual last-4-digit check. After Procore screens the bank account, a micro-deposit is sent, and GCs are prompted to confirm the deposit amount with the subcontractor before approving payments. This enhancement ensures that only accounts truly controlled by the intended subcontractor are approved for payment, significantly reducing the risk of fraud and misdirected funds. By requiring active verification, GCs gain greater confidence in their payment processes, while Procore helps protect your business from financial and reputational harm.
