Using PayID in Melbourne operates like using it anywhere else in Australia. It provides a simpler and faster way of sending and receiving money without requiring BSB and account numbers to be remembered. Here is a basic step-by-step guide on how to use PayID, but keep in mind that the exact process may vary depending on your bank.
PayID Setup
- Log into Online Banking: Open up the app or log in to your bank’s website.
- Find PayID Settings: Look for an option to set up or manage PayID within the ‘Payments’, ‘Transfers’ or ‘Settings’ menu (label depends on bank UI).
- Choose Identifier: Select what type of identifier you want to use for your PayID – usually either mobile phone number, email address or another form approved by your financial institution.
- Proof of Identity: Once you’ve chosen an identifier, you’ll probably need to verify it by entering a code from a text message or email.
- Connect with Account: Link your newly created PayID to one of your accounts at this bank.
- Confirmation: Your institution will let you know that your PayID has been successfully set up.
Making a Payment with PayID
- Go to Payments: Log into the app or website and find where you can make payments/transfers.
- Enter PayID: Choose to pay via PayID, and enter recipient’s identifier (mobile number, email etc.)
- Check Details: The name of the owner should appear next – check that it matches who you’re paying.
- Enter Amount: Input how much money you want to transfer.
- Complete Payment: Have one last look over everything before confirming payment.
- Confirmation: You may receive an SMS/email confirmation telling you that the payment was successful.
Our team recommends always checking over everything carefully before committing, and refer back to specific instructions about using PayIDs from your bank. In case the article didn’t cover some piece of information, you can check PayID dedicated page on Bank of Melbourne official website.
