PayID is free to register and easy to use, it helps to stop scams because unlike a traditional payment, the payer can see a confirmation screen, which includes the intended PayID name, before they confirm the payment.
Find out more from the Australian Banking Association
Not sure what PayID is?
If you can’t remember your BSB and account number, a PayID is something easy to remember — like your mobile phone number that you register with us and we link to your account. Then when someone needs to pay you, you simply give them your PayID instead of your BSB and account number. PayID. Simple as.
Simpler to remember
Remembering bank details is enough to give anyone a ‘goldfish’ moment – seriously, who can remember their BSB and account numbers? A PayID can be something easy to remember like your mobile number.
Simpler to get right
If you’ve ever worried about sending money to the wrong account, PayID can help. Use a PayID with a service like Osko and the name of the person who owns that PayID is shown before you approve the payment. All you have to do is to confirm it’s the right person.
Simpler to share
Sharing your PayID couldn’t be simpler, because it’s easy to remember for both you and the person you’re sharing it with.