Are you fed up with sending money to someone and it take a couple of day for the money to arrive?
Don’t you think in today’s world it should be able to happen in minutes rather then hours or even days? Well now it can. As long as your bank has released it to you. But it will progressively be rolled out by all bank over time.
How do you use it?
Create your PayID
Contact your bank to set up your PayID account, with an easy to remember unique identifier – email or phone number.
Sending and receiving money
When you want to send someone a payment, simply request their PayID. Then you can use your online or mobile banking service to send the payment to that PayID, rather than the BSB and account number.
To receive money, just give the other party your PayID and they do the same from their online or mobile banking app.
As some banks will be using the Osko platform to use your PayID for transactions, you may find your bank uses that name rather than PayID to identify the service.
Is my bank ready for PayID
check here Find my bank