Frequently Asked Questions

If you’ve got more questions, we’ve got more answers. If you can’t find the answer to your question here, please contact your financial institution or visit nppa.com.au/consumers.

Faster, simpler, smarter payments

The New Payments Platform is new infrastructure built by Australian banks that will enable customers of different banks to make and receive near real-time payments, 24 hours a day and seven days a week. PayID is a key part of this Platform. You can read more about the New Payments Platform here: www.nppa.com.au

Osko by BPAY is the first consumer service to be built on the New Payments Platform to use the PayID functionality. It’s likely you may see Osko appear in your usual banking, when it launches early 2018. You can read more about it here: www.osko.com.au

It depends on who you bank with. Some financial institutions may require you to choose Osko if you wish to pay a PayID. In other financial institutions, the ability to pay to a PayID automatically appears as an option within your usual banking. Overtime we expect other payments products and services to make use of the PayID functionality, so it’s likely you will be able to use your PayID in many places, as well as in Osko.

How PayID works

A PayID is something easy to remember, like a phone number, email address or an ABN, that you can securely link to your bank, credit union or building society account. Then when you want somebody to transfer funds into your account, you can give them your PayID instead of your BSB and account number.

PayID is available from early 2018. Your bank, credit union or building society will contact you to let you know when you can create a PayID in your usual online or mobile banking. Remember that banks, building societies and credit unions will never ask you to provide personal information via emails or text messages, so be wary of any requests that seem to be doing this. You should only provide the information required to create a PayID within your usual online or mobile banking.

Once it’s available, your bank, building society or credit union will contact you inviting you to create a PayID within your usual online or mobile banking. Once you’ve followed the steps within your online or mobile banking to create your PayID, they will then link that to your bank account so it acts like a ‘pointer’ to your account. Then when someone wants to pay you, just give them your PayID. If that person banks with an institution that doesn’t offer PayID yet, they can still pay you using your BSB and account number.

We expect about 50 banks, credit unions and building societies will offer PayID to their customers by early 2018, with more joining later in the year. A full list of the participating financial institutions can be found here. Your bank, credit union or building society will get in touch with you via their official customer channels when it’s time to register your PayID within your usual online or mobile banking.

Your bank, credit union or building society will contact you letting you know that you can create a PayID within your usual online or mobile banking. Once it’s set up you can start giving your PayID to people who need to pay you. As PayID rolls-out there may be some people who won’t be able to pay your PayID for a short period of time. The person paying you may need to check with their financial institution if they can pay your PayID – but if they can’t, they can still use your BSB and account number.

Creating and receiving payments to your PayID

The PayID types available to you depends on who you bank with, but typically a PayID can be a phone number (which may include landline, mobile and international numbers, an email address, an Australian Business Number (ABN), an Australian Company Number (ACN), an Australian Registered Body Number (ARBN), and an Australian Registered Scheme Number (ARSN). If a financial institution does not support all PayID types, customers can still make and receive payments using a BSB and account number. Your participating bank, credit union and building society will be able to tell you the PayID types available to you.

A PayID can only be linked to one account at any given time.

You can create as many PayIDs you like, as long as you can prove to your bank, credit union or building society that you are the rightful owner of the information (such as the phone number or email address) you’d like to use as your PayID. 

Yes. You can link different PayIDs to different accounts at different financial institutions. You will need to check with those financial institutions which PayID types they support.

Yes, multiple PayIDs types can be linked to the same account. For example, you could link an email PayID and a phone number PayID to the same account.

Once your PayID has been created, you can give it to people or companies that need to pay you. As the PayID service rolls out, the person paying you will need to check with their financial institution if they can pay your PayID yet. If they can’t, they can still use your BSB and account number.

No. Your financial institution must ensure they have your permission to create a PayID on your behalf.  

Paying someone else's PayID

The PayID types you can pay within your usual online or mobile banking depends on who you bank with. As the PayID service rolls out, most Australian financial institutions will enable payments to be made to phone number PayIDs. Others will enable payments to be made to more types of PayIDs, such as an email address or an ABN. Over time we expect the types of PayIDs you can pay to will increase. 

Moving, changing or cancelling a PayID

You can transfer your PayID to another account at a different bank, building society or credit union.

You will be required to close any PayIDs you no longer have the authority to use and create a new PayID with your new details. Your financial institution will be able to help you do this.

Safety and Security

PayID payments can only be made from online and mobile banking of participating banks, credit unions and building societies. This means the same very high level of security that protects your existing bank accounts payments will also protect your PayID payments.

Once PayID becomes available, your bank, credit union or building society will contact you letting you know that you are able to create a PayID in your usual online or mobile banking. Remember that banks, building societies and credit unions will never ask you to provide personal information via emails or text messages, so be wary of any requests that seem to be doing this. You should only provide the information required to create a PayID within your usual online or mobile banking. From here your PayID information will be stored in a secure, encrypted data repository.  For more information on what you can do to keep your personal data and money safe, ask your banking provider.

When you give a person your PayID, they cannot use it to withdraw money from your account. When they use it in their own participating online or mobile banking to pay you, the only information they will see is the name you have provided to describe that PayID, such as your own name or the name of your business. A PayID on its own cannot be used to create a false identity.

When a person uses your PayID to pay you, the only information they will see is the name you have provided to describe that PayID, such as your own name or the name of your business.  A person with your PayID cannot access your bank account or personal information linked to your account.

Registering a PayID requires a number of identification and verification steps to prove you are the rightful owner of the information you wish to use for the PayID, as well as the account you will be linking that PayID too. So unless a person has these details, it will be hard for them to create a PayID using your personal details.

A PayID can be linked to one account only. Moving a PayID from one account to another requires a number of identification and verification steps to prove that you are the rightful owner of that PayID, as well as the account you wish to move the PayID to. So unless a person has these details, it will be hard for them to link your PayID to their account.

BSBs and account numbers

No, PayID does not replace BSBs and account numbers. Rather, a PayID will act like a ‘pointer’ to your BSB and account so you no longer have to remember them. But you can still pay to a person’s BSB and account number if that is what you prefer.

PayID has not been developed to replace BSBs and account numbers altogether. There are no plans to remove BSBs and account numbers from Australia’s banking system.