Your Rights

When you create a PayID you’ll agree to terms and conditions set by your financial institution. We know it’s not always easy reading the small print, so we thought we’d highlight the important things those terms and conditions will cover.

It’s your choice

A PayID isn’t compulsory. You’ll be asked if you’d like to create a PayID by your financial institution. A financial institution cannot create a PayID in your name without your full consent, so if you receive an email telling you that you must create a PayID it’s likely to be a scam. It’s important to note that PayIDs can only be created within your usual mobile or internet banking.

Making and receiving NPP Payments using PayID

PayID payments are supported by the New Payments Platform; new infrastructure built by Australian banks to enable customers of different banks to make real time payments to each other, 24 hours a day, seven days a week.

Before you can create your PayID to receive payments into your account, you have to prove that you either own or are authorised to use your chosen PayID, and that you have an eligible account.

Even though PayIDs are much easier to use than a BSB and account number, you still must ensure you enter the correct PayID details and check the payee’s PayID name before sending a payment. If you do make a mistake, you should contact your bank immediately.

Choosing a PayID and PayID Name

You must be able to prove that you own or are authorised to use your chosen PayID before you can use it to receive NPP Payments. Your financial institution may ask you to provide evidence.

Your PayID may be your phone number, email address, ABN/ACN or Organisation ID depending on your financial institution’s policy.  Some PayID types, for example Organisation IDs, are restricted to business customers and organisations.  Only eligible customers will be able to create a PayID that is a restricted PayID Type.

Depending on your  financial institution’s policy and the way different overlay services work, your PayID name may be displayed to payers as a confirmation step. Selection of a PayID name is at the discretion of your financial institution, but as a guide your PayID name should be representative of your account name.

Creating your PayID

You may choose to create more than one PayID for your account, depending on the policy of your financial institution. For example, you could use two different phone numbers, or a phone number and an email address.

If your account is a joint account, you and each other joint account holder can create a unique PayID for that account.

If you have authorised users on your account, each authorised user may create a unique PayID for the account.

Once a PayID is created and linked to your account, it can only be used with that account. It can, however, be moved (see below).

The PayID service does not support duplicate PayIDs. If you try to create a PayID for your account which is identical to another PayID in the service, you will be told that you are unable to register it.

Transferring your PayID to another account

You can transfer your PayID to another account, or to an account with another financial institution, by submitting a request to your financial institution.

The transfer of your PayID to another account with the same financial institution will generally be effective immediately, unless you are notified by your financial institution otherwise.

The transfer of your PayID to another financial institution is a two-step process, initiated by you and completed by the financial institution you are transferring your PayID to. First, you must ask your original financial institution to put your PayID into a transfer state and then complete the transfer via your new financial institution. Until the transfer is completed, payments to your PayID will be directed to the original account.

You can request transfer of your PayID at any time. A locked PayID cannot be transferred.

Closing a PayID

To close your PayID you must contact your financial institution. In particular, you must notify your financial institution if you no longer own or have authority to use your PayID. 

Locking and Unlocking a PayID

It is important that you stay vigilant about scams and fraud. If you suspect anything, notify your financial institution immediately. Participating financial institutions will also monitor and manage PayID use and misuse. As a result, your financial institution may lock your PayID if they reasonably suspect misuse of your PayID. Requests to unlock a locked PayID can be made to your financial institution.

Privacy

Privacy of your personal information is important. Your financial institution will make sure you understand that when you create your PayID you understand that your personal information like your PayID and your name will be displayed to payers.

PayID is a registered trademark owned by NPP Australia Limited (NPPA). The PayID service is provided to you by your financial institution. If you have any questions about privacy, check out your financial institution’s privacy policy. Refer to NPPA’s privacy policy for information relating to PayID and privacy.