21-Dec

PAYID Number

What is PayID?

PayID is a feature linked to your existing bank account that makes sending and receiving money easier. Instead of scrambling for your bank account and BSB number, you can give your friends and family easy to remember ids like your mobile number or email address and watch the transaction happen in real-time.

Register your unique PayID with your bank, which will securely link it to your bank account. Once it’s been set up, you can start giving it to friends and family when they need to transfer your money instead of giving them your BSB and account number. You can also use it when you need to pay someone by asking for their PayID.

How does PayID work?

Once PayID is available through your bank, building society or credit union, you’ ll be able to set one up if you want to. Simply follow the steps within your mobile banking app or via Internet banking to create your unique PayID (as outlined above). Your PayID will generally be your mobile number, but some institutions will allow you to use your email, ABN, ACN or landline phone number. Your banking institution will then link the PayID to your bank account.

What are the benefits of PayID?

Fast. Watch your payments happen in real-time.

Easy. No more searching for your account and BSB number.

Fewer mistakes. Use an easy to remember number to get paid.

Mobile. Available through the latest version of most banking apps.

Secure. Funds are protected by your bank’s fraud detection mechanisms.

Simple registration. A few clicks and you’re ready to go.

Longer descriptions. You’ll be able to send a 280-character description with your transfer, and you can even use emoticons.

 

Links to Banks with PayID

Commonwealth Bank
https://www.commbank.com.au/digital-banking/pay-id.html

Nab

https://www.nab.com.au/personal/customer-support/payid

Westpac

https://www.westpac.com.au/personal-banking/online-banking/making-the-most/new-payments-platform/

ANZ

https://www.anz.com.au/ways-to-bank/more/pay-id/

Bendigo Bank

https://www.bendigobank.com.au/ways-to-bank/real-time-payments/

Suncorp

https://www.suncorp.com.au/banking/help-support/ways-to-bank/fast-payments.html

St. George

https://www.stgeorge.com.au/online-services/ways-to-pay/new-payments-platform

ING

https://www.ing.com.au/everyday-banking/pay-id.html

Bankwest

https://www.bankwest.com.au/help/payments/payid

Greater Bank

https://www.greater.com.au/help/faqs/payments/how-do-i-create-a-payid/

Great Southern Bank

https://www.greatsouthernbank.com.au/digital-banking/pay-id

Australian Military Bank

https://www.australianmilitarybank.com.au/news/payid-is-here

Bank of us

https://bankofus.com.au/new-payments-platform

Bank of Melbourne

https://www.bankofmelbourne.com.au/online-services/ways-to-pay/new-payments-platform

Bank First

https://www.bankfirst.com.au/help/internet-banking/register-and-manage-payid

Bank Australia

https://www.bankaust.com.au/support/osko-payments-and-payid

Australian Unity

https://www.australianunity.com.au/banking/~/media/banking/documents/banking-new/forms/payid-termsandconditions.ashx?la=en&hash=2CA7937F8447E3FABEEE9798BE2D0923

Bank SA

https://www.banksa.com.au/online-services/ways-to-pay/new-payments-platform

Bank VIC

https://www.bankvic.com.au/banking/payments/payid

BDCU Alliance Bank

https://www.bdcualliancebank.com.au/community/community-blog/fast-payments-are-here

Citibank Australia

https://www1.citibank.com.au/banking/new-payment-platform

Horizon Bank

https://horizonbank.com.au/access/osko-and-payid/

Qudos Bank

https://www.qudosbank.com.au/about-us/ways-to-bank/digital-banking/real-time-payments/

UniBank

https://www.unibank.com.au/faq/Banking/How-does-PayID-work



*Disclaimer & Example: For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn't apply. These loans are fee-based only with a term between 62 and 180 days, and so the APR is 0%. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed. Representative example: a loan of $1,000 repaid over 3 months equates to a total amount payable of $1,320 comprised of $1,000 principal (amount borrowed), $200 establishment fee and $120 in monthly fees. The maximum comparison rate on loans between $300 and $2000 is 199.43%.
For our Medium Loans between $2,100 and $5,000, with a term between 2 months and 12 months, the maximum Annual Percentage Rate (APR) is 48% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. A Medium Loan of $3,000 borrowed over 1 year would equate to a total amount payable of $4,289 (including a $400 establishment fee).

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR %). The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

© 2022 Owned by Australian Synergy Finance Pty Ltd, ABN 54 613 655 646. Australian Credit Licence 490422. The information on this webpage is general information only and does not take into account your objectives, financial situation or needs.