PayIDmakes paymentssimple as

Remembering your account details isn’t easy

When it comes to remembering bank account details, like your BSB and account number, most people simply can’t. With all the numbers and passwords in our lives, these numbers are all too easily forgotten.

That’s where a PayID can help

Many of Australia’s banks, credit unions and building societies have developed PayID, a simple new service that makes sending and receiving payments a little bit easier.

Your PayID can be something you already know, that’s easy to remember — like your mobile phone number or even your email address.

You can simply register it with a participating bank, building society or credit union in your usual online and mobile banking, and they’ll link it to your account.

Then when someone needs to pay you, you just give them your PayID.

Simple as.

What’s better about PayID?

PayID and faster payments

PayID is designed to make life just that little bit simpler and will work seamlessly with the new Osko® by BPAY service. You’ll be able to make and receive payments faster than ever before, 24/7 via your usual online and mobile banking.

Pay the right
person

When you use a PayID with a service like Osko, the name of the person who owns that PayID is shown immediately before you approve the payment. Then all you have to do is simply confirm it’s the right person.

Keeping your details private

PayID means you don’t have to share your BSB and account number, so you can keep them private.
®Registered to BPAY Pty Ltd ABN 69 079 137 518.

How does PayID work?

Soon your bank, credit union or building society will contact you to let you know you can register a PayID within your usual online and mobile banking and then they’ll link it to the account of your choice. Your PayID can be something you’ll easily remember, like your mobile number.

Once registered, when someone wants to pay you, or you want to pay someone else, forget exchanging BSB and account numbers – share your PayID instead. To pay someone using their PayID, simply log-in to your existing online and mobile banking. There you’ll have the option to use a PayID like a ‘pay anyone’ function. When you enter a PayID, the system will automatically show you who the PayID is registered to, so you can check before you confirm the payment.

When registering a PayID, you should only provide the information required within your usual online and mobile banking. As always, it’s important to be wary of requests asking you for personal information. Banks will never ask you to share these details via links in emails or text messages.

It’s really that simple!

So who’s involved

PayID is part of the New Payments Platform developed by 13 financial organisations including Australia’s Big Four banks and the Reserve Bank of Australia. When the Platform launches in early 2018 we expect more than 60-70 banks, credit unions and building societies will offer PayID to their customers, with more joining later in the year. As we get closer to the launch of PayID a full list of the participating financial institutions will be made available here. Your bank, credit union or building society will also get in touch with you when it’s time to register for your PayID via your usual online and mobile banking.

When will PayID be available?

The PayID service will commence rolling out from early 2018 onwards.

When will PayID be available?

The PayID service will commence rolling out from early 2018 onwards.