How does it work?

By February 7, 2018

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.